GIEDE: 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.
GIEDE
Largest movements
- Tangible fixed assets -€12,450
down €12,450 (-13.4%), from €92,821 to €80,370
of which Leasing and similar rights: -€13,110
- Receivables within one year +€1,889
up €1,889 (+14.1%), from €13,437 to €15,327
of which Other amounts receivable: +€1,612
- Debts after one year -€13,048
down €13,048 (-30.7%), from €42,449 to €29,401
- Other debts +€5,337
up €5,337 (+792.9%), from €673 to €6,010
- Depreciation +€5,363
up €5,363 (+21.2%), from €25,345 to €30,708
- Gross operating margin -€1,916
down €1,916 (-5.7%), from €33,792 to €31,876
- Taxes -€1,197
down €1,197 (-76.2%), from €1,570 to €373
- Financial income +€497
up €497 (+134.7%), from €369 to €866
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 | €175,688 | €166,389 | -€9,299 | -5.3% |
| Fixed assets | 21/28 | €92,821 | €80,370 | -€12,450 | -13.4% |
| Tangible fixed assets | 22/27 | €92,821 | €80,370 | -€12,450 | -13.4% |
| Land and buildings | 22 | €2,820 | €16,504 | +€13,684 | +485.3% |
| Furniture and vehicles | 24 | €34,867 | €21,843 | -€13,024 | -37.4% |
| Leasing and similar rights | 25 | €55,134 | €42,024 | -€13,110 | -23.8% |
| Current assets | 29/58 | €82,867 | €86,019 | +€3,152 | +3.8% |
| Amounts receivable within one year | 40/41 | €13,437 | €15,327 | +€1,889 | +14.1% |
| Trade receivables | 40 | €10,873 | €11,150 | +€278 | +2.6% |
| Other amounts receivable | 41 | €2,565 | €4,177 | +€1,612 | +62.8% |
| Current investments | 50/53 | €52,027 | €52,633 | +€606 | +1.2% |
| Cash at bank and in hand | 54/58 | €16,777 | €17,273 | +€496 | +3.0% |
| Deferred charges and accrued income | 490/1 | €626 | €786 | +€161 | +25.6% |
| Total equity and liabilities | 10/49 | €175,688 | €166,389 | -€9,299 | -5.3% |
| Equity | 10/15 | €114,023 | €112,915 | -€1,109 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,485 | €34,485 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €34,485 | €34,485 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,939 | €59,830 | -€1,109 | -1.8% |
| Amounts payable | 17/49 | €61,664 | €53,474 | -€8,190 | -13.3% |
| Amounts payable after more than one year | 17 | €42,449 | €29,401 | -€13,048 | -30.7% |
| Financial debts | 170/4 | €42,449 | €29,401 | -€13,048 | -30.7% |
| Amounts payable within one year | 42/48 | €19,215 | €24,073 | +€4,858 | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €12,730 | €13,048 | +€318 | +2.5% |
| Financial debts | 43 | €168 | €53 | -€115 | -68.4% |
| Credit institutions | 430/8 | €168 | €53 | -€115 | -68.4% |
| Trade debts | 44 | €2,404 | €1,234 | -€1,171 | -48.7% |
| Suppliers | 440/4 | €2,404 | €1,234 | -€1,171 | -48.7% |
| Advances received on contracts in progress | 46 | €170 | €0 | -€170 | -100.0% |
| Taxes, remuneration and social security | 45 | €3,070 | €3,728 | +€658 | +21.4% |
| Taxes | 450/3 | €3,070 | €3,728 | +€658 | +21.4% |
| Other amounts payable | 47/48 | €673 | €6,010 | +€5,337 | +792.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,345 | €30,708 | +€5,363 | +21.2% |
| Other operating charges | 640/8 | €1,349 | €1,402 | +€52 | +3.9% |
| Gross operating margin | 9900 | €33,792 | €31,876 | -€1,916 | -5.7% |
| Operating profit (loss) | 9901 | €7,098 | -€234 | -€7,332 | |
| Financial income | 75/76B | €369 | €866 | +€497 | +134.7% |
| Recurring financial income | 75 | €369 | €866 | +€497 | +134.7% |
| Financial charges | 65/66B | €1,450 | €1,368 | -€82 | -5.6% |
| Recurring financial charges | 65 | €1,450 | €1,368 | -€82 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €6,017 | -€736 | -€6,753 | |
| Income taxes | 67/77 | €1,570 | €373 | -€1,197 | -76.2% |
| Profit (loss) for the period | 9904 | €4,447 | -€1,109 | -€5,555 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,447 | -€1,109 | -€5,555 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.