GIESEN MARIO: 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.
GIESEN MARIO
Largest movements
- Receivables within one year +€63,529
up €63,529 (+276%), from €23,025 to €86,553
of which Trade receivables: +€38,123
- Tangible fixed assets -€27,770
down €27,770 (-5.8%), from €481,289 to €453,519
of which Land and buildings: -€15,961
- Cash -€16,278
down €16,278 (-12.4%), from €131,585 to €115,306
mainly Contributions, distributions and other (-€100,000) and Receivables within one year (-€63,529)
- Other debts +€56,801
up €56,801 (+130%), from €43,702 to €100,504
- Debts after one year -€44,077
down €44,077 (-13.6%), from €324,034 to €279,957
- Trade debts +€10,904
up €10,904 (+702%), from €1,553 to €12,457
- Gross operating margin +€15,164
up €15,164 (+8.0%), from €189,726 to €204,890
- Taxes +€3,876
up €3,876 (+18.4%), from €21,100 to €24,976
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 | €636,136 | €656,016 | +€19,879 | +3.1% |
| Fixed assets | 21/28 | €481,469 | €453,699 | -€27,770 | -5.8% |
| Tangible fixed assets | 22/27 | €481,289 | €453,519 | -€27,770 | -5.8% |
| Land and buildings | 22 | €302,817 | €286,856 | -€15,961 | -5.3% |
| Plant, machinery and equipment | 23 | €108,189 | €103,982 | -€4,206 | -3.9% |
| Furniture and vehicles | 24 | €70,283 | €62,680 | -€7,603 | -10.8% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €154,668 | €202,317 | +€47,649 | +30.8% |
| Amounts receivable within one year | 40/41 | €23,025 | €86,553 | +€63,529 | +276% |
| Trade receivables | 40 | €5,766 | €43,889 | +€38,123 | +661% |
| Other amounts receivable | 41 | €17,259 | €42,665 | +€25,406 | +147% |
| Cash at bank and in hand | 54/58 | €131,585 | €115,306 | -€16,278 | -12.4% |
| Deferred charges and accrued income | 490/1 | €58 | €457 | +€399 | +686% |
| Total equity and liabilities | 10/49 | €636,136 | €656,016 | +€19,879 | +3.1% |
| Equity | 10/15 | €205,175 | €199,205 | -€5,970 | -2.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €180,175 | €174,205 | -€5,970 | -3.3% |
| Distributable reserves | 133 | €180,175 | €174,205 | -€5,970 | -3.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €430,961 | €456,810 | +€25,849 | +6.0% |
| Amounts payable after more than one year | 17 | €324,034 | €279,957 | -€44,077 | -13.6% |
| Financial debts | 170/4 | €324,034 | €279,957 | -€44,077 | -13.6% |
| Amounts payable within one year | 42/48 | €106,928 | €176,854 | +€69,926 | +65.4% |
| Current portion of amounts payable after more than one year | 42 | €48,974 | €44,077 | -€4,897 | -10.0% |
| Financial debts | 43 | €3,381 | €4,850 | +€1,469 | +43.4% |
| Credit institutions | 430/8 | €3,381 | €4,850 | +€1,469 | +43.4% |
| Trade debts | 44 | €1,553 | €12,457 | +€10,904 | +702% |
| Suppliers | 440/4 | €1,553 | €12,457 | +€10,904 | +702% |
| Taxes, remuneration and social security | 45 | €9,318 | €14,967 | +€5,649 | +60.6% |
| Taxes | 450/3 | €9,318 | €14,967 | +€5,649 | +60.6% |
| Other amounts payable | 47/48 | €43,702 | €100,504 | +€56,801 | +130% |
| Non-recurring operating income | 76A | €20,253 | €0 | -€20,253 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,222 | €77,063 | +€841 | +1.1% |
| Other operating charges | 640/8 | €1,938 | €2,679 | +€742 | +38.3% |
| Gross operating margin | 9900 | €189,726 | €204,890 | +€15,164 | +8.0% |
| Operating profit (loss) | 9901 | €111,566 | €125,148 | +€13,582 | +12.2% |
| Financial income | 75/76B | €3,081 | €3,510 | +€429 | +13.9% |
| Recurring financial income | 75 | €3,081 | €3,510 | +€429 | +13.9% |
| Financial charges | 65/66B | €10,310 | €9,652 | -€658 | -6.4% |
| Recurring financial charges | 65 | €10,310 | €9,652 | -€658 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €104,337 | €119,007 | +€14,670 | +14.1% |
| Income taxes | 67/77 | €21,100 | €24,976 | +€3,876 | +18.4% |
| Profit (loss) for the period | 9904 | €83,237 | €94,030 | +€10,793 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,237 | €94,030 | +€10,793 | +13.0% |
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 29 October 2026 via checked.be.