GIADELCO: 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.
GIADELCO
Largest movements
- Receivables within one year +€67,404
up €67,404 (+38.0%), from €177,350 to €244,754
of which Other amounts receivable: +€66,915
- Reserves +€146,741
up €146,741 (+16.2%), from €903,463 to €1.1m
of which Distributable reserves: +€146,741
- Debts after one year -€108,355
down €108,355 (-17.9%), from €605,761 to €497,406
- Tax, wage and social debts +€20,440
up €20,440 (+187%), from €10,935 to €31,376
- Financial income +€59,809
up €59,809 (+40.0%), from €149,358 to €209,167
- Taxes +€17,503
up €17,503 (+60.3%), from €29,043 to €46,546
- Gross operating margin +€7,774
up €7,774 (+6.3%), from €123,577 to €131,350
- Financial charges -€2,235
down €2,235 (-12.6%), from €17,703 to €15,468
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,755,320 | €1,829,950 | +€74,629 | +4.3% |
| Fixed assets | 21/28 | €1,557,261 | €1,564,898 | +€7,637 | +0.5% |
| Tangible fixed assets | 22/27 | €345,591 | €353,228 | +€7,637 | +2.2% |
| Land and buildings | 22 | €342,154 | €350,762 | +€8,608 | +2.5% |
| Furniture and vehicles | 24 | €3,438 | €2,466 | -€972 | -28.3% |
| Financial fixed assets | 28 | €1,211,670 | €1,211,670 | = | 0.0% |
| Current assets | 29/58 | €198,059 | €265,052 | +€66,993 | +33.8% |
| Amounts receivable within one year | 40/41 | €177,350 | €244,754 | +€67,404 | +38.0% |
| Trade receivables | 40 | - | €489 | +€489 | |
| Other amounts receivable | 41 | €177,350 | €244,265 | +€66,915 | +37.7% |
| Current investments | 50/53 | €9,298 | €9,298 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,458 | €8,769 | -€689 | -7.3% |
| Deferred charges and accrued income | 490/1 | €1,953 | €2,231 | +€278 | +14.3% |
| Total equity and liabilities | 10/49 | €1,755,320 | €1,829,950 | +€74,629 | +4.3% |
| Equity | 10/15 | €909,815 | €1,056,557 | +€146,741 | +16.1% |
| Contributions | 10/11 | €6,201 | €6,201 | = | 0.0% |
| Reserves | 13 | €903,463 | €1,050,205 | +€146,741 | +16.2% |
| Non-distributable reserves | 130/1 | €7,530 | €7,530 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,530 | €7,530 | = | 0.0% |
| Distributable reserves | 133 | €895,933 | €1,042,675 | +€146,741 | +16.4% |
| Profit (loss) carried forward | 14 | €151 | €151 | = | 0.0% |
| Amounts payable | 17/49 | €845,505 | €773,393 | -€72,112 | -8.5% |
| Amounts payable after more than one year | 17 | €605,761 | €497,406 | -€108,355 | -17.9% |
| Financial debts | 170/4 | €605,761 | €497,406 | -€108,355 | -17.9% |
| Amounts payable within one year | 42/48 | €218,076 | €254,174 | +€36,098 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €106,070 | €108,355 | +€2,285 | +2.2% |
| Trade debts | 44 | €1,071 | €960 | -€111 | -10.3% |
| Suppliers | 440/4 | €1,071 | €960 | -€111 | -10.3% |
| Taxes, remuneration and social security | 45 | €10,935 | €31,376 | +€20,440 | +187% |
| Taxes | 450/3 | €10,935 | €31,376 | +€20,440 | +187% |
| Other amounts payable | 47/48 | €100,000 | €113,483 | +€13,483 | +13.5% |
| Accrued charges and deferred income | 492/3 | €21,668 | €21,814 | +€146 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,695 | €22,407 | +€712 | +3.3% |
| Other operating charges | 640/8 | €9,761 | €9,356 | -€405 | -4.2% |
| Gross operating margin | 9900 | €123,577 | €131,350 | +€7,774 | +6.3% |
| Operating profit (loss) | 9901 | €92,121 | €99,588 | +€7,467 | +8.1% |
| Financial income | 75/76B | €149,358 | €209,167 | +€59,809 | +40.0% |
| Recurring financial income | 75 | €149,358 | €209,167 | +€59,809 | +40.0% |
| Financial charges | 65/66B | €17,703 | €15,468 | -€2,235 | -12.6% |
| Recurring financial charges | 65 | €17,703 | €15,468 | -€2,235 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €223,776 | €293,287 | +€69,511 | +31.1% |
| Income taxes | 67/77 | €29,043 | €46,546 | +€17,503 | +60.3% |
| Profit (loss) for the period | 9904 | €194,733 | €246,741 | +€52,008 | +26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €194,733 | €246,741 | +€52,008 | +26.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.