GIANFRANCO: 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.
GIANFRANCO
Largest movements
- Cash +€53,296
up €53,296 (+73.5%), from €72,464 to €125,760
mainly Depreciation (+€31,718) and Net result for the year (+€30,942)
- Tangible fixed assets -€31,718
down €31,718 (-12.6%), from €252,271 to €220,553
of which Land and buildings: -€17,538
- Debts after one year -€31,827
down €31,827 (-64.3%), from €49,519 to €17,692
- Reserves +€30,942
up €30,942 (+63.3%), from €48,900 to €79,842
- Tax, wage and social debts +€17,601
up €17,601 (+32.7%), from €53,865 to €71,466
of which Taxes: +€11,484
- Trade debts +€3,867
up €3,867 (+63.9%), from €6,054 to €9,921
- Gross operating margin +€55,697
up €55,697 (+16.3%), from €341,871 to €397,568
- Staff costs +€15,071
up €15,071 (+5.1%), from €296,324 to €311,395
- Taxes +€14,358
up €14,358 (+752.0%), from €1,909 to €16,267
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 | €340,866 | €364,714 | +€23,848 | +7.0% |
| Fixed assets | 21/28 | €253,356 | €221,638 | -€31,718 | -12.5% |
| Tangible fixed assets | 22/27 | €252,271 | €220,553 | -€31,718 | -12.6% |
| Land and buildings | 22 | €201,938 | €184,401 | -€17,538 | -8.7% |
| Other tangible fixed assets | 26 | €50,332 | €36,152 | -€14,181 | -28.2% |
| Financial fixed assets | 28 | €1,085 | €1,085 | = | 0.0% |
| Current assets | 29/58 | €87,510 | €143,077 | +€55,566 | +63.5% |
| Stocks and contracts in progress | 3 | €5,509 | €5,509 | = | 0.0% |
| Stocks | 30/36 | €5,509 | €5,509 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,384 | €6,866 | -€518 | -7.0% |
| Trade receivables | 40 | €240 | €1,275 | +€1,035 | +431.3% |
| Other amounts receivable | 41 | €7,144 | €5,591 | -€1,553 | -21.7% |
| Cash at bank and in hand | 54/58 | €72,464 | €125,760 | +€53,296 | +73.5% |
| Deferred charges and accrued income | 490/1 | €2,154 | €4,943 | +€2,788 | +129.4% |
| Total equity and liabilities | 10/49 | €340,866 | €364,714 | +€23,848 | +7.0% |
| Equity | 10/15 | €71,576 | €102,518 | +€30,942 | +43.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €48,900 | €79,842 | +€30,942 | +63.3% |
| Distributable reserves | 133 | €48,900 | €79,842 | +€30,942 | +63.3% |
| Profit (loss) carried forward | 14 | €4,084 | €4,084 | = | 0.0% |
| Amounts payable | 17/49 | €269,291 | €262,197 | -€7,094 | -2.6% |
| Amounts payable after more than one year | 17 | €49,519 | €17,692 | -€31,827 | -64.3% |
| Financial debts | 170/4 | €49,519 | €17,692 | -€31,827 | -64.3% |
| Amounts payable within one year | 42/48 | €219,771 | €244,505 | +€24,733 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €31,158 | €31,827 | +€669 | +2.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €6,054 | €9,921 | +€3,867 | +63.9% |
| Suppliers | 440/4 | €6,054 | €9,921 | +€3,867 | +63.9% |
| Taxes, remuneration and social security | 45 | €53,865 | €71,466 | +€17,601 | +32.7% |
| Taxes | 450/3 | €24,025 | €35,509 | +€11,484 | +47.8% |
| Remuneration and social security | 454/9 | €29,839 | €35,957 | +€6,117 | +20.5% |
| Other amounts payable | 47/48 | €128,694 | €131,291 | +€2,596 | +2.0% |
| Remuneration, social security and pensions | 62 | €296,324 | €311,395 | +€15,071 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,199 | €31,718 | +€519 | +1.7% |
| Other operating charges | 640/8 | €4,521 | €4,436 | -€85 | -1.9% |
| Gross operating margin | 9900 | €341,871 | €397,568 | +€55,697 | +16.3% |
| Operating profit (loss) | 9901 | €9,827 | €50,019 | +€40,192 | +409.0% |
| Financial income | 75/76B | €1 | €1 | +€1 | +87.8% |
| Recurring financial income | 75 | €1 | €1 | +€1 | +87.8% |
| Financial charges | 65/66B | €4,360 | €2,811 | -€1,549 | -35.5% |
| Recurring financial charges | 65 | €4,360 | €2,811 | -€1,549 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €5,467 | €47,209 | +€41,742 | +763.5% |
| Income taxes | 67/77 | €1,909 | €16,267 | +€14,358 | +752.0% |
| Profit (loss) for the period | 9904 | €3,558 | €30,942 | +€27,384 | +769.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,558 | €30,942 | +€27,384 | +769.6% |
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 5 October 2026 via checked.be.