GIANTSTEPS: 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.
GIANTSTEPS
Largest movements
- Receivables within one year -€227,127
down €227,127 (-81.7%), from €278,158 to €51,031
of which Other amounts receivable: -€223,052
- Receivables after one year +€100,000
new in 2025: €100,000
- Tangible fixed assets +€5,605
up €5,605 (+10.6%), from €53,040 to €58,645
of which Other tangible fixed assets: +€10,647
- Reserves -€106,621
down €106,621 (-37.8%), from €282,222 to €175,601
- Tax, wage and social debts -€14,201
down €14,201 (-32.1%), from €44,253 to €30,053
of which Remuneration and social security: -€18,125
- Debts after one year -€6,932
down €6,932 (-53.2%), from €13,026 to €6,093
- Trade debts +€3,884
up €3,884 (+179.1%), from €2,169 to €6,053
- Gross operating margin -€14,249
down €14,249 (-20.3%), from €70,318 to €56,069
- Staff costs +€13,689
new in 2025: €13,689
- Taxes -€9,544
down €9,544 (-51.9%), from €18,383 to €8,840
- Depreciation +€6,632
up €6,632 (+110.1%), from €6,023 to €12,654
- Financial charges +€777
up €777 (+94.6%), from €822 to €1,599
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 | €355,186 | €231,222 | -€123,964 | -34.9% |
| Fixed assets | 21/28 | €53,040 | €58,885 | +€5,845 | +11.0% |
| Tangible fixed assets | 22/27 | €53,040 | €58,645 | +€5,605 | +10.6% |
| Land and buildings | 22 | €10,077 | €8,794 | -€1,282 | -12.7% |
| Furniture and vehicles | 24 | €35,954 | €32,194 | -€3,760 | -10.5% |
| Other tangible fixed assets | 26 | €7,009 | €17,657 | +€10,647 | +151.9% |
| Financial fixed assets | 28 | - | €240 | +€240 | |
| Current assets | 29/58 | €302,146 | €172,337 | -€129,809 | -43.0% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Amounts receivable within one year | 40/41 | €278,158 | €51,031 | -€227,127 | -81.7% |
| Trade receivables | 40 | €14,381 | €10,306 | -€4,075 | -28.3% |
| Other amounts receivable | 41 | €263,777 | €40,725 | -€223,052 | -84.6% |
| Cash at bank and in hand | 54/58 | €22,864 | €20,127 | -€2,736 | -12.0% |
| Deferred charges and accrued income | 490/1 | €1,125 | €1,179 | +€54 | +4.8% |
| Total equity and liabilities | 10/49 | €355,186 | €231,222 | -€123,964 | -34.9% |
| Equity | 10/15 | €288,419 | €181,798 | -€106,621 | -37.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €282,222 | €175,601 | -€106,621 | -37.8% |
| Distributable reserves | 133 | €282,222 | €175,601 | -€106,621 | -37.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €66,767 | €49,424 | -€17,343 | -26.0% |
| Amounts payable after more than one year | 17 | €13,026 | €6,093 | -€6,932 | -53.2% |
| Financial debts | 170/4 | €13,026 | €6,093 | -€6,932 | -53.2% |
| Amounts payable within one year | 42/48 | €53,742 | €43,331 | -€10,411 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €6,541 | €6,932 | +€392 | +6.0% |
| Financial debts | 43 | €779 | €292 | -€486 | -62.4% |
| Credit institutions | 430/8 | €779 | €292 | -€486 | -62.4% |
| Trade debts | 44 | €2,169 | €6,053 | +€3,884 | +179.1% |
| Suppliers | 440/4 | €2,169 | €6,053 | +€3,884 | +179.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €44,253 | €30,053 | -€14,201 | -32.1% |
| Taxes | 450/3 | €24,205 | €28,130 | +€3,925 | +16.2% |
| Remuneration and social security | 454/9 | €20,048 | €1,923 | -€18,125 | -90.4% |
| Non-recurring operating income | 76A | €3,719 | €0 | -€3,719 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €13,689 | +€13,689 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,023 | €12,654 | +€6,632 | +110.1% |
| Other operating charges | 640/8 | €1,566 | €1,016 | -€550 | -35.1% |
| Gross operating margin | 9900 | €70,318 | €56,069 | -€14,249 | -20.3% |
| Operating profit (loss) | 9901 | €62,729 | €28,710 | -€34,020 | -54.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €822 | €1,599 | +€777 | +94.6% |
| Recurring financial charges | 65 | €822 | €1,599 | +€777 | +94.6% |
| Profit (loss) for the period before taxes | 9903 | €61,908 | €27,111 | -€34,797 | -56.2% |
| Income taxes | 67/77 | €18,383 | €8,840 | -€9,544 | -51.9% |
| Profit (loss) for the period | 9904 | €43,525 | €18,271 | -€25,254 | -58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,525 | €18,271 | -€25,254 | -58.0% |
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 4 October 2026 via checked.be.