GIAGIOFIO: 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.
GIAGIOFIO
Largest movements
- Receivables within one year +€14,551
up €14,551 (+799.6%), from €1,820 to €16,370
- Tangible fixed assets -€8,252
down €8,252 (-16.2%), from €50,843 to €42,591
of which Furniture and vehicles: -€4,500
- Deferred charges and accrued income +€5,237
new in 2025: €5,237
- Stocks and contracts +€4,608
new in 2025: €4,608
- Intangible fixed assets -€2,054
down €2,054 (-40.7%), from €5,043 to €2,989
- Accrued charges and deferred income +€18,574
up €18,574 (+158.4%), from €11,725 to €30,299
- Profit (loss) carried forward -€12,960
down €12,960 (-13.5%), from -€96,068 to -€109,028
- Trade debts +€9,543
up €9,543 (+7.4%), from €128,274 to €137,817
- Tax, wage and social debts -€2,354
down €2,354 (-29.3%), from €8,027 to €5,673
of which Taxes: -€2,715
- Short-term financial debts +€1,564
up €1,564 (+75.7%), from €2,065 to €3,628
- Gross operating margin +€10,168
up €10,168 (+51.0%), from €19,934 to €30,102
- Financial charges -€3,078
down €3,078 (-22.1%), from €13,904 to €10,825
- Staff costs -€1,308
down €1,308 (-7.3%), from €18,015 to €16,707
- Other operating charges -€1,140
down €1,140 (-21.4%), from €5,336 to €4,195
- Financial income -€968
down €968 (-44.1%), from €2,196 to €1,228
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 | €92,023 | €106,389 | +€14,366 | +15.6% |
| Fixed assets | 21/28 | €55,887 | €45,580 | -€10,306 | -18.4% |
| Intangible fixed assets | 21 | €5,043 | €2,989 | -€2,054 | -40.7% |
| Tangible fixed assets | 22/27 | €50,843 | €42,591 | -€8,252 | -16.2% |
| Plant, machinery and equipment | 23 | €3,850 | €2,394 | -€1,457 | -37.8% |
| Furniture and vehicles | 24 | €13,188 | €8,688 | -€4,500 | -34.1% |
| Other tangible fixed assets | 26 | €33,805 | €31,510 | -€2,296 | -6.8% |
| Current assets | 29/58 | €36,136 | €60,809 | +€24,672 | +68.3% |
| Amounts receivable after more than one year | 29 | €34,106 | €33,036 | -€1,071 | -3.1% |
| Other amounts receivable | 291 | €34,106 | €33,036 | -€1,071 | -3.1% |
| Stocks and contracts in progress | 3 | - | €4,608 | +€4,608 | |
| Stocks | 30/36 | - | €4,608 | +€4,608 | |
| Amounts receivable within one year | 40/41 | €1,820 | €16,370 | +€14,551 | +799.6% |
| Trade receivables | 40 | €1,820 | €16,370 | +€14,551 | +799.6% |
| Cash at bank and in hand | 54/58 | €210 | €1,557 | +€1,347 | +641.1% |
| Deferred charges and accrued income | 490/1 | - | €5,237 | +€5,237 | |
| Total equity and liabilities | 10/49 | €92,023 | €106,389 | +€14,366 | +15.6% |
| Equity | 10/15 | -€93,068 | -€106,028 | -€12,960 | -13.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,068 | -€109,028 | -€12,960 | -13.5% |
| Amounts payable | 17/49 | €185,091 | €212,417 | +€27,326 | +14.8% |
| Amounts payable after more than one year | 17 | €35,000 | €35,000 | = | 0.0% |
| Financial debts | 170/4 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €138,365 | €147,118 | +€8,753 | +6.3% |
| Financial debts | 43 | €2,065 | €3,628 | +€1,564 | +75.7% |
| Credit institutions | 430/8 | €2,065 | €3,628 | +€1,564 | +75.7% |
| Trade debts | 44 | €128,274 | €137,817 | +€9,543 | +7.4% |
| Suppliers | 440/4 | €128,274 | €137,817 | +€9,543 | +7.4% |
| Taxes, remuneration and social security | 45 | €8,027 | €5,673 | -€2,354 | -29.3% |
| Taxes | 450/3 | €7,368 | €4,653 | -€2,715 | -36.9% |
| Remuneration and social security | 454/9 | €659 | €1,020 | +€361 | +54.8% |
| Accrued charges and deferred income | 492/3 | €11,725 | €30,299 | +€18,574 | +158.4% |
| Remuneration, social security and pensions | 62 | €18,015 | €16,707 | -€1,308 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,211 | €12,422 | +€212 | +1.7% |
| Other operating charges | 640/8 | €5,336 | €4,195 | -€1,140 | -21.4% |
| Gross operating margin | 9900 | €19,934 | €30,102 | +€10,168 | +51.0% |
| Operating profit (loss) | 9901 | -€15,628 | -€3,223 | +€12,405 | +79.4% |
| Financial income | 75/76B | €2,196 | €1,228 | -€968 | -44.1% |
| Recurring financial income | 75 | €2,196 | €1,228 | -€968 | -44.1% |
| Financial charges | 65/66B | €13,904 | €10,825 | -€3,078 | -22.1% |
| Recurring financial charges | 65 | €13,904 | €10,825 | -€3,078 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | -€27,336 | -€12,819 | +€14,516 | +53.1% |
| Income taxes | 67/77 | €128 | €141 | +€13 | +10.1% |
| Profit (loss) for the period | 9904 | -€27,464 | -€12,960 | +€14,503 | +52.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,464 | -€12,960 | +€14,503 | +52.8% |
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 11 October 2026 via checked.be.