GHISLAIN 1994: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GHISLAIN 1994
Largest movements
- Cash -€43,772
down €43,772 (-78.4%), from €55,859 to €12,086
mainly Net result for the year (-€34,437) and Receivables within one year (-€20,257)
- Receivables within one year +€20,257
up €20,257 (+80.6%), from €25,146 to €45,403
- Stocks and contracts -€8,935
down €8,935 (-36.1%), from €24,770 to €15,836
- Tangible fixed assets +€7,848
up €7,848 (+138%), from €5,705 to €13,552
of which Furniture and vehicles: +€6,370
- Profit (loss) carried forward -€34,437
down €34,437 (-32.4%), from -€106,215 to -€140,652
- Tax, wage and social debts +€11,510
up €11,510 (+25.2%), from €45,657 to €57,167
of which Remuneration and social security: +€8,408
- Other debts -€10,000
down €10,000 (-20.0%), from €50,000 to €40,000
- Trade debts +€8,325
up €8,325 (+8.0%), from €103,437 to €111,762
- Gross operating margin +€100,385
up €100,385 (+44.2%), from €227,331 to €327,716
- Staff costs +€83,963
up €83,963 (+29.4%), from €285,595 to €369,558
- Financial income +€17,889
up €17,889 (+15,032%), from €119 to €18,008
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €111,479 | €86,877 | -€24,602 | -22.1% |
| Fixed assets | 21/28 | €5,705 | €13,552 | +€7,848 | +138% |
| Tangible fixed assets | 22/27 | €5,705 | €13,552 | +€7,848 | +138% |
| Plant, machinery and equipment | 23 | €4,909 | €6,386 | +€1,477 | +30.1% |
| Furniture and vehicles | 24 | €796 | €7,166 | +€6,370 | +800% |
| Current assets | 29/58 | €105,775 | €73,325 | -€32,450 | -30.7% |
| Stocks and contracts in progress | 3 | €24,770 | €15,836 | -€8,935 | -36.1% |
| Stocks | 30/36 | €24,770 | €15,836 | -€8,935 | -36.1% |
| Amounts receivable within one year | 40/41 | €25,146 | €45,403 | +€20,257 | +80.6% |
| Trade receivables | 40 | €25,146 | €45,403 | +€20,257 | +80.6% |
| Cash at bank and in hand | 54/58 | €55,859 | €12,086 | -€43,772 | -78.4% |
| Total equity and liabilities | 10/49 | €111,479 | €86,877 | -€24,602 | -22.1% |
| Equity | 10/15 | -€87,615 | -€122,052 | -€34,437 | -39.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,215 | -€140,652 | -€34,437 | -32.4% |
| Amounts payable | 17/49 | €199,094 | €208,928 | +€9,835 | +4.9% |
| Amounts payable within one year | 42/48 | €199,094 | €208,928 | +€9,835 | +4.9% |
| Trade debts | 44 | €103,437 | €111,762 | +€8,325 | +8.0% |
| Suppliers | 440/4 | €103,437 | €111,762 | +€8,325 | +8.0% |
| Taxes, remuneration and social security | 45 | €45,657 | €57,167 | +€11,510 | +25.2% |
| Taxes | 450/3 | €4,353 | €7,455 | +€3,102 | +71.3% |
| Remuneration and social security | 454/9 | €41,304 | €49,712 | +€8,408 | +20.4% |
| Other amounts payable | 47/48 | €50,000 | €40,000 | -€10,000 | -20.0% |
| Remuneration, social security and pensions | 62 | €285,595 | €369,558 | +€83,963 | +29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,596 | €4,178 | -€2,419 | -36.7% |
| Other operating charges | 640/8 | €7,849 | €6,164 | -€1,685 | -21.5% |
| Gross operating margin | 9900 | €227,331 | €327,716 | +€100,385 | +44.2% |
| Operating profit (loss) | 9901 | -€72,710 | -€52,184 | +€20,525 | +28.2% |
| Financial income | 75/76B | €119 | €18,008 | +€17,889 | +15,032% |
| Recurring financial income | 75 | €119 | €18,008 | +€17,889 | +15,032% |
| Financial charges | 65/66B | €154 | €261 | +€108 | +70.1% |
| Recurring financial charges | 65 | €154 | €261 | +€108 | +70.1% |
| Profit (loss) for the period before taxes | 9903 | -€72,744 | -€34,437 | +€38,307 | +52.7% |
| Income taxes | 67/77 | €554 | - | -€554 | |
| Profit (loss) for the period | 9904 | -€73,298 | -€34,437 | +€38,861 | +53.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,298 | -€34,437 | +€38,861 | +53.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.