GIERSCH HO: 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.
GIERSCH HO
Largest movements
- Financial fixed assets +€225,000
new in 2025: €225,000
- Intangible fixed assets -€13,154
no longer reported in 2025 (was €13,154)
- Receivables within one year -€6,053
down €6,053 (-60.0%), from €10,088 to €4,035
of which Trade receivables: -€5,619
- Debts after one year +€125,000
new in 2025: €125,000
- Other debts +€101,279
new in 2025: €101,279
- Profit (loss) carried forward -€21,152
down €21,152, from €15,000 to -€6,152
- Other operating charges +€5,672
up €5,672 (+391,144%), from €1 to €5,673
- Depreciation -€3,115
down €3,115 (-57.2%), from €5,446 to €2,330
- Gross operating margin +€2,672
up €2,672 (+53.7%), from -€4,975 to -€2,303
- Financial income -€79
down €79 (-7.7%), from €1,020 to €942
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 | €25,625 | €229,681 | +€204,056 | +796% |
| Fixed assets | 21/28 | €13,978 | €225,305 | +€211,327 | +1,512% |
| Intangible fixed assets | 21 | €13,154 | - | -€13,154 | |
| Tangible fixed assets | 22/27 | €824 | €305 | -€519 | -63.0% |
| Furniture and vehicles | 24 | €824 | €305 | -€519 | -63.0% |
| Financial fixed assets | 28 | - | €225,000 | +€225,000 | |
| Current assets | 29/58 | €11,648 | €4,376 | -€7,272 | -62.4% |
| Amounts receivable within one year | 40/41 | €10,088 | €4,035 | -€6,053 | -60.0% |
| Trade receivables | 40 | €5,841 | €222 | -€5,619 | -96.2% |
| Other amounts receivable | 41 | €4,247 | €3,813 | -€434 | -10.2% |
| Cash at bank and in hand | 54/58 | €1,257 | €44 | -€1,212 | -96.5% |
| Deferred charges and accrued income | 490/1 | €303 | €297 | -€6 | -2.0% |
| Total equity and liabilities | 10/49 | €25,625 | €229,681 | +€204,056 | +796% |
| Equity | 10/15 | €24,934 | €3,059 | -€21,876 | -87.7% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,000 | -€6,152 | -€21,152 | |
| Investment grants | 15 | €1,874 | €1,151 | -€723 | -38.6% |
| Provisions and deferred taxes | 16 | €469 | €288 | -€181 | -38.6% |
| Deferred taxes | 168 | €469 | €288 | -€181 | -38.6% |
| Amounts payable | 17/49 | €222 | €226,334 | +€226,112 | +101,655% |
| Amounts payable after more than one year | 17 | - | €125,000 | +€125,000 | |
| Other amounts payable | 178/9 | - | €125,000 | +€125,000 | |
| Amounts payable within one year | 42/48 | €222 | €101,334 | +€101,112 | +45,458% |
| Taxes, remuneration and social security | 45 | €222 | €55 | -€168 | -75.3% |
| Taxes | 450/3 | €55 | €55 | = | 0.0% |
| Remuneration and social security | 454/9 | €168 | - | -€168 | |
| Other amounts payable | 47/48 | - | €101,279 | +€101,279 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,446 | €2,330 | -€3,115 | -57.2% |
| Other operating charges | 640/8 | €1 | €5,673 | +€5,672 | +391,144% |
| Non-recurring operating charges | 66A | - | €11,904 | +€11,904 | |
| Gross operating margin | 9900 | -€4,975 | -€2,303 | +€2,672 | +53.7% |
| Operating profit (loss) | 9901 | -€10,422 | -€22,210 | -€11,788 | -113% |
| Financial income | 75/76B | €1,020 | €942 | -€79 | -7.7% |
| Recurring financial income | 75 | €1,020 | €942 | -€79 | -7.7% |
| Financial charges | 65/66B | €45 | €64 | +€19 | +42.1% |
| Recurring financial charges | 65 | €45 | €64 | +€19 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,447 | -€21,333 | -€11,886 | -126% |
| Transfer from deferred taxes | 780 | €181 | €181 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€9,267 | -€21,152 | -€11,886 | -128% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,267 | -€21,152 | -€11,886 | -128% |
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 23 October 2026 via checked.be.