GICAMADIVI: what changed
GICAMADIVI
Largest movements
- Cash -€17,740
down €17,740 (-47.0%), from €37,742 to €20,002
mainly Trade debts (-€11,868) and Tax, wage and social debts (-€9,796)
- Tangible fixed assets -€4,909
down €4,909 (-26.1%), from €18,807 to €13,898
of which Furniture and vehicles: -€4,564
- Receivables within one year -€3,475
down €3,475 (-72.9%), from €4,767 to €1,292
of which Trade receivables: -€3,467
- Intangible fixed assets -€1,864
no longer reported in 2025 (was €1,864)
- Stocks and contracts +€806
up €806 (+8.5%), from €9,465 to €10,271
- Trade debts -€11,868
down €11,868 (-18.6%), from €63,703 to €51,835
- Tax, wage and social debts -€9,796
down €9,796 (-31.4%), from €31,224 to €21,428
of which Remuneration and social security: -€8,030
- Profit (loss) carried forward -€4,587
down €4,587 (-11.5%), from -€39,735 to -€44,323
- Other debts -€930
down €930 (-5.9%), from €15,657 to €14,727
- Staff costs -€69,965
down €69,965 (-32.9%), from €212,522 to €142,558
- Gross operating margin -€67,933
down €67,933 (-31.0%), from €218,818 to €150,885
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €78,908 | €51,727 | -€27,181 | -34.4% |
| Fixed assets | 21/28 | €26,935 | €20,163 | -€6,772 | -25.1% |
| Intangible fixed assets | 21 | €1,864 | - | -€1,864 | |
| Tangible fixed assets | 22/27 | €18,807 | €13,898 | -€4,909 | -26.1% |
| Land and buildings | 22 | €3,245 | €2,900 | -€345 | -10.6% |
| Furniture and vehicles | 24 | €15,562 | €10,998 | -€4,564 | -29.3% |
| Financial fixed assets | 28 | €6,264 | €6,264 | = | 0.0% |
| Current assets | 29/58 | €51,973 | €31,565 | -€20,409 | -39.3% |
| Stocks and contracts in progress | 3 | €9,465 | €10,271 | +€806 | +8.5% |
| Stocks | 30/36 | €9,465 | €10,271 | +€806 | +8.5% |
| Amounts receivable within one year | 40/41 | €4,767 | €1,292 | -€3,475 | -72.9% |
| Trade receivables | 40 | €4,193 | €726 | -€3,467 | -82.7% |
| Other amounts receivable | 41 | €574 | €566 | -€8 | -1.4% |
| Cash at bank and in hand | 54/58 | €37,742 | €20,002 | -€17,740 | -47.0% |
| Total equity and liabilities | 10/49 | €78,908 | €51,727 | -€27,181 | -34.4% |
| Equity | 10/15 | -€31,675 | -€36,263 | -€4,587 | -14.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Share premium | 1100/10 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,735 | -€44,323 | -€4,587 | -11.5% |
| Amounts payable | 17/49 | €110,584 | €87,990 | -€22,594 | -20.4% |
| Amounts payable within one year | 42/48 | €110,584 | €87,990 | -€22,594 | -20.4% |
| Trade debts | 44 | €63,703 | €51,835 | -€11,868 | -18.6% |
| Suppliers | 440/4 | €63,703 | €51,835 | -€11,868 | -18.6% |
| Taxes, remuneration and social security | 45 | €31,224 | €21,428 | -€9,796 | -31.4% |
| Taxes | 450/3 | €4,040 | €2,274 | -€1,766 | -43.7% |
| Remuneration and social security | 454/9 | €27,184 | €19,153 | -€8,030 | -29.5% |
| Other amounts payable | 47/48 | €15,657 | €14,727 | -€930 | -5.9% |
| Remuneration, social security and pensions | 62 | €212,522 | €142,558 | -€69,965 | -32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,715 | €8,433 | -€1,282 | -13.2% |
| Other operating charges | 640/8 | €3,926 | €3,495 | -€431 | -11.0% |
| Gross operating margin | 9900 | €218,818 | €150,885 | -€67,933 | -31.0% |
| Operating profit (loss) | 9901 | -€7,346 | -€3,601 | +€3,745 | +51.0% |
| Financial income | 75/76B | €85 | €10 | -€75 | -88.1% |
| Recurring financial income | 75 | €85 | €10 | -€75 | -88.1% |
| Financial charges | 65/66B | €2,303 | €996 | -€1,307 | -56.7% |
| Recurring financial charges | 65 | €2,303 | €996 | -€1,307 | -56.7% |
| Profit (loss) for the period before taxes | 9903 | -€9,563 | -€4,587 | +€4,976 | +52.0% |
| Profit (loss) for the period | 9904 | -€9,563 | -€4,587 | +€4,976 | +52.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,563 | -€4,587 | +€4,976 | +52.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.