GHYSCO: what changed
Two fiscal 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.
GHYSCO
Largest movements
- Receivables within one year -€336,379
down €336,379 (-33.1%), from €1.0m to €680,100
of which Trade receivables: -€340,900
- Cash +€229,521
up €229,521 (+36.1%), from €635,280 to €864,801
mainly Net result for the year (+€374,462) and Receivables within one year (+€336,379)
- Current investments +€208,664
up €208,664 (+17.9%), from €1.2m to €1.4m
- Reserves +€227,562
up €227,562 (+15.8%), from €1.4m to €1.7m
of which Distributable reserves: +€227,562
- Trade debts -€155,245
down €155,245 (-16.5%), from €940,476 to €785,231
- Tax, wage and social debts +€44,768
up €44,768 (+22.0%), from €203,056 to €247,824
- Gross operating margin +€101,659
up €101,659 (+22.0%), from €461,563 to €563,222
- Taxes +€42,973
up €42,973 (+31.3%), from €137,491 to €180,464
- Financial income +€30,408
up €30,408 (+220.3%), from €13,801 to €44,209
- Depreciation -€17,716
down €17,716 (-37.8%), from €46,888 to €29,172
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.
Cash bridge derived
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 | €2,891,772 | €3,016,618 | +€124,846 | +4.3% |
| Fixed assets | 21/28 | €70,583 | €91,751 | +€21,168 | +30.0% |
| Tangible fixed assets | 22/27 | €70,583 | €91,751 | +€21,168 | +30.0% |
| Furniture and vehicles | 24 | €24,982 | €58,111 | +€33,129 | +132.6% |
| Other tangible fixed assets | 26 | €45,602 | €33,640 | -€11,961 | -26.2% |
| Current assets | 29/58 | €2,821,188 | €2,924,867 | +€103,679 | +3.7% |
| Stocks and contracts in progress | 3 | €5,438 | €7,632 | +€2,193 | +40.3% |
| Stocks | 30/36 | €5,438 | €7,632 | +€2,193 | +40.3% |
| Amounts receivable within one year | 40/41 | €1,016,479 | €680,100 | -€336,379 | -33.1% |
| Trade receivables | 40 | €984,719 | €643,819 | -€340,900 | -34.6% |
| Other amounts receivable | 41 | €31,760 | €36,281 | +€4,521 | +14.2% |
| Current investments | 50/53 | €1,163,671 | €1,372,335 | +€208,664 | +17.9% |
| Cash at bank and in hand | 54/58 | €635,280 | €864,801 | +€229,521 | +36.1% |
| Deferred charges and accrued income | 490/1 | €320 | - | -€320 | |
| Total equity and liabilities | 10/49 | €2,891,772 | €3,016,618 | +€124,846 | +4.3% |
| Equity | 10/15 | €1,644,092 | €1,871,653 | +€227,562 | +13.8% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,444,138 | €1,671,700 | +€227,562 | +15.8% |
| Non-distributable reserves | 130/1 | €24,375 | €24,375 | = | 0.0% |
| Reserves not available under the articles | 1311 | €24,375 | €24,375 | = | 0.0% |
| Tax-exempt reserves | 132 | €124,378 | €124,378 | = | 0.0% |
| Distributable reserves | 133 | €1,295,385 | €1,522,947 | +€227,562 | +17.6% |
| Profit (loss) carried forward | 14 | €181,203 | €181,203 | = | 0.0% |
| Provisions and deferred taxes | 16 | €48,213 | €48,213 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €48,213 | €48,213 | = | 0.0% |
| Other liabilities and charges | 164/5 | €48,213 | €48,213 | = | 0.0% |
| Amounts payable | 17/49 | €1,199,467 | €1,096,752 | -€102,715 | -8.6% |
| Amounts payable within one year | 42/48 | €1,199,467 | €1,096,752 | -€102,715 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €16,404 | - | -€16,404 | |
| Trade debts | 44 | €940,476 | €785,231 | -€155,245 | -16.5% |
| Suppliers | 440/4 | €940,476 | €785,231 | -€155,245 | -16.5% |
| Advances received on contracts in progress | 46 | €11,203 | €11,203 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €203,056 | €247,824 | +€44,768 | +22.0% |
| Taxes | 450/3 | €203,056 | €247,824 | +€44,768 | +22.0% |
| Other amounts payable | 47/48 | €28,328 | €52,495 | +€24,166 | +85.3% |
| Non-recurring operating income | 76A | - | €34,637 | +€34,637 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,888 | €29,172 | -€17,716 | -37.8% |
| Other operating charges | 640/8 | €17,429 | €17,999 | +€570 | +3.3% |
| Gross operating margin | 9900 | €461,563 | €563,222 | +€101,659 | +22.0% |
| Operating profit (loss) | 9901 | €397,247 | €516,051 | +€118,804 | +29.9% |
| Financial income | 75/76B | €13,801 | €44,209 | +€30,408 | +220.3% |
| Recurring financial income | 75 | €13,801 | €44,209 | +€30,408 | +220.3% |
| Financial charges | 65/66B | €9,444 | €5,334 | -€4,109 | -43.5% |
| Recurring financial charges | 65 | €9,444 | €5,334 | -€4,109 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | €401,604 | €554,926 | +€153,322 | +38.2% |
| Income taxes | 67/77 | €137,491 | €180,464 | +€42,973 | +31.3% |
| Profit (loss) for the period | 9904 | €264,113 | €374,462 | +€110,349 | +41.8% |
| Profit (loss) for the period to be appropriated | 9905 | €264,113 | €374,462 | +€110,349 | +41.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.