GIAPARDO: 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.
GIAPARDO
Largest movements
- Cash +€15,930
new in 2025: €15,930
mainly Receivables within one year (+€11,073) and Other debts (+€9,160)
- Receivables within one year -€11,073
down €11,073 (-56.0%), from €19,761 to €8,688
of which Other amounts receivable: -€18,392
- Stocks and contracts +€1,499
up €1,499 (+13.8%), from €10,870 to €12,369
- Other debts +€9,160
up €9,160 (+166.5%), from €5,500 to €14,660
- Profit (loss) carried forward -€1,574
down €1,574 (-7.9%), from -€19,812 to -€21,386
- Short-term financial debts -€893
down €893 (-31.6%), from €2,829 to €1,935
- Trade debts -€562
down €562 (-3.0%), from €18,967 to €18,405
- Gross operating margin -€1,900
down €1,900 (-49.4%), from €3,845 to €1,946
- Other operating charges -€1,555
down €1,555 (-39.5%), from €3,939 to €2,384
- Financial income -€816
no longer reported in 2025 (was €816)
- Financial charges +€203
up €203 (+21.7%), from €933 to €1,135
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 | €30,632 | €36,988 | +€6,356 | +20.7% |
| Current assets | 29/58 | €30,632 | €36,988 | +€6,356 | +20.7% |
| Stocks and contracts in progress | 3 | €10,870 | €12,369 | +€1,499 | +13.8% |
| Stocks | 30/36 | €10,870 | €12,369 | +€1,499 | +13.8% |
| Amounts receivable within one year | 40/41 | €19,761 | €8,688 | -€11,073 | -56.0% |
| Trade receivables | 40 | €1,369 | €8,688 | +€7,319 | +534.5% |
| Other amounts receivable | 41 | €18,392 | - | -€18,392 | |
| Cash at bank and in hand | 54/58 | - | €15,930 | +€15,930 | |
| Total equity and liabilities | 10/49 | €30,632 | €36,988 | +€6,356 | +20.7% |
| Equity | 10/15 | €188 | -€1,386 | -€1,574 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,812 | -€21,386 | -€1,574 | -7.9% |
| Amounts payable | 17/49 | €30,443 | €38,373 | +€7,930 | +26.0% |
| Amounts payable within one year | 42/48 | €30,308 | €38,174 | +€7,865 | +26.0% |
| Financial debts | 43 | €2,829 | €1,935 | -€893 | -31.6% |
| Credit institutions | 430/8 | €2,829 | €1,935 | -€893 | -31.6% |
| Trade debts | 44 | €18,967 | €18,405 | -€562 | -3.0% |
| Suppliers | 440/4 | €18,967 | €18,405 | -€562 | -3.0% |
| Taxes, remuneration and social security | 45 | €3,013 | €3,174 | +€161 | +5.3% |
| Taxes | 450/3 | €3,013 | €3,174 | +€161 | +5.3% |
| Other amounts payable | 47/48 | €5,500 | €14,660 | +€9,160 | +166.5% |
| Accrued charges and deferred income | 492/3 | €135 | €199 | +€65 | +47.8% |
| Other operating charges | 640/8 | €3,939 | €2,384 | -€1,555 | -39.5% |
| Gross operating margin | 9900 | €3,845 | €1,946 | -€1,900 | -49.4% |
| Operating profit (loss) | 9901 | -€94 | -€439 | -€345 | -367.4% |
| Financial income | 75/76B | €816 | - | -€816 | |
| Recurring financial income | 75 | €816 | - | -€816 | |
| Financial charges | 65/66B | €933 | €1,135 | +€203 | +21.7% |
| Recurring financial charges | 65 | €933 | €1,135 | +€203 | +21.7% |
| Profit (loss) for the period before taxes | 9903 | -€211 | -€1,574 | -€1,363 | -647.7% |
| Profit (loss) for the period | 9904 | -€211 | -€1,574 | -€1,363 | -647.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€211 | -€1,574 | -€1,363 | -647.7% |
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 2 October 2026 via checked.be.