GIAX: 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.
GIAX
Largest movements
- Receivables within one year +€35,501
up €35,501 (+90.9%), from €39,061 to €74,562
of which Trade receivables: +€22,627
- Cash -€26,769
down €26,769 (-65.7%), from €40,737 to €13,968
mainly Receivables within one year (-€35,501) and Investment in fixed assets (net) (-€9,729)
- Tangible fixed assets +€5,955
up €5,955 (+53.7%), from €11,085 to €17,041
of which Furniture and vehicles: +€7,156
- Reserves +€14,352
up €14,352 (+22.8%), from €62,873 to €77,225
of which Distributable reserves: +€14,352
- Tax, wage and social debts +€8,052
up €8,052 (+88.4%), from €9,107 to €17,159
- Trade debts -€7,559
no longer reported in 2025 (was €7,559)
- Gross operating margin +€9,560
up €9,560 (+69.9%), from €13,678 to €23,238
- Taxes +€4,170
up €4,170 (+215%), from €1,943 to €6,112
- Financial income +€3,488
new in 2025: €3,488
- Staff costs -€1,845
no longer reported in 2025 (was €1,845)
- Depreciation +€1,646
up €1,646 (+77.3%), from €2,128 to €3,774
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.
Derived cash bridge
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 | €91,938 | €106,783 | +€14,845 | +16.1% |
| Fixed assets | 21/28 | €11,085 | €17,041 | +€5,955 | +53.7% |
| Tangible fixed assets | 22/27 | €11,085 | €17,041 | +€5,955 | +53.7% |
| Land and buildings | 22 | €2,610 | €2,284 | -€326 | -12.5% |
| Plant, machinery and equipment | 23 | €6,814 | €5,940 | -€874 | -12.8% |
| Furniture and vehicles | 24 | €1,660 | €8,816 | +€7,156 | +431% |
| Current assets | 29/58 | €80,853 | €89,743 | +€8,890 | +11.0% |
| Amounts receivable within one year | 40/41 | €39,061 | €74,562 | +€35,501 | +90.9% |
| Trade receivables | 40 | €12,425 | €35,052 | +€22,627 | +182% |
| Other amounts receivable | 41 | €26,637 | €39,511 | +€12,874 | +48.3% |
| Cash at bank and in hand | 54/58 | €40,737 | €13,968 | -€26,769 | -65.7% |
| Deferred charges and accrued income | 490/1 | €1,055 | €1,213 | +€157 | +14.9% |
| Total equity and liabilities | 10/49 | €91,938 | €106,783 | +€14,845 | +16.1% |
| Equity | 10/15 | €75,273 | €89,625 | +€14,352 | +19.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €62,873 | €77,225 | +€14,352 | +22.8% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Distributable reserves | 133 | €61,633 | €75,985 | +€14,352 | +23.3% |
| Amounts payable | 17/49 | €16,666 | €17,159 | +€493 | +3.0% |
| Amounts payable within one year | 42/48 | €16,666 | €17,159 | +€493 | +3.0% |
| Trade debts | 44 | €7,559 | - | -€7,559 | |
| Suppliers | 440/4 | €7,559 | - | -€7,559 | |
| Taxes, remuneration and social security | 45 | €9,107 | €17,159 | +€8,052 | +88.4% |
| Taxes | 450/3 | €9,107 | €17,159 | +€8,052 | +88.4% |
| Non-recurring operating income | 76A | €2,500 | - | -€2,500 | |
| Remuneration, social security and pensions | 62 | €1,845 | - | -€1,845 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,128 | €3,774 | +€1,646 | +77.3% |
| Other operating charges | 640/8 | €1,739 | €551 | -€1,187 | -68.3% |
| Non-recurring operating charges | 66A | €12,459 | - | -€12,459 | |
| Gross operating margin | 9900 | €13,678 | €23,238 | +€9,560 | +69.9% |
| Operating profit (loss) | 9901 | -€4,493 | €18,913 | +€23,405 | |
| Financial income | 75/76B | - | €3,488 | +€3,488 | |
| Recurring financial income | 75 | - | €3,488 | +€3,488 | |
| Financial charges | 65/66B | €1,761 | €1,937 | +€176 | +10.0% |
| Recurring financial charges | 65 | €1,761 | €1,937 | +€176 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,254 | €20,464 | +€26,718 | |
| Income taxes | 67/77 | €1,943 | €6,112 | +€4,170 | +215% |
| Profit (loss) for the period | 9904 | -€8,196 | €14,352 | +€22,548 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,196 | €14,352 | +€22,548 |
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 18 October 2026 via checked.be.