Gievan: 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.
Gievan
Largest movements
- Cash -€13,945
down €13,945 (-20.8%), from €67,113 to €53,168
mainly Short-term financial debts (-€125,000) and Deferred charges and accrued income (-€586)
- Stocks and contracts -€12,500
down €12,500 (-5.8%), from €216,000 to €203,500
- Short-term financial debts -€125,000
no longer reported in 2025 (was €125,000)
- Other debts +€56,080
up €56,080 (+53.3%), from €105,118 to €161,198
- Trade debts +€20,607
up €20,607 (+688.9%), from €2,991 to €23,598
- Reserves +€14,000
up €14,000 (+51.2%), from €27,360 to €41,360
- Current portion of long-term debt +€5,000
new in 2025: €5,000
- Gross operating margin +€14,531
up €14,531 (+74.6%), from €19,473 to €34,004
- Taxes +€5,172
up €5,172 (+83.2%), from €6,214 to €11,386
- Other operating charges -€1,602
down €1,602 (-70.3%), from €2,280 to €678
- Financial charges -€639
down €639 (-8.0%), from €7,947 to €7,308
- Financial income +€348
up €348 (+241.9%), from €144 to €492
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 | €288,303 | €261,465 | -€26,838 | -9.3% |
| Current assets | 29/58 | €288,303 | €261,465 | -€26,838 | -9.3% |
| Stocks and contracts in progress | 3 | €216,000 | €203,500 | -€12,500 | -5.8% |
| Stocks | 30/36 | €216,000 | €203,500 | -€12,500 | -5.8% |
| Amounts receivable within one year | 40/41 | €2,252 | €1,274 | -€978 | -43.4% |
| Trade receivables | 40 | €2,252 | - | -€2,252 | |
| Other amounts receivable | 41 | - | €1,274 | +€1,274 | |
| Cash at bank and in hand | 54/58 | €67,113 | €53,168 | -€13,945 | -20.8% |
| Deferred charges and accrued income | 490/1 | €2,938 | €3,524 | +€586 | +19.9% |
| Total equity and liabilities | 10/49 | €288,303 | €261,465 | -€26,838 | -9.3% |
| Equity | 10/15 | €50,382 | €65,505 | +€15,123 | +30.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,360 | €41,360 | +€14,000 | +51.2% |
| Distributable reserves | 133 | €27,360 | €41,360 | +€14,000 | +51.2% |
| Profit (loss) carried forward | 14 | €4,422 | €5,545 | +€1,123 | +25.4% |
| Amounts payable | 17/49 | €237,921 | €195,960 | -€41,961 | -17.6% |
| Amounts payable within one year | 42/48 | €237,921 | €195,960 | -€41,961 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | - | €5,000 | +€5,000 | |
| Financial debts | 43 | €125,000 | - | -€125,000 | |
| Credit institutions | 430/8 | €125,000 | - | -€125,000 | |
| Trade debts | 44 | €2,991 | €23,598 | +€20,607 | +688.9% |
| Suppliers | 440/4 | €2,991 | €23,598 | +€20,607 | +688.9% |
| Taxes, remuneration and social security | 45 | €4,812 | €6,164 | +€1,352 | +28.1% |
| Taxes | 450/3 | €4,812 | €6,164 | +€1,352 | +28.1% |
| Other amounts payable | 47/48 | €105,118 | €161,198 | +€56,080 | +53.3% |
| Other operating charges | 640/8 | €2,280 | €678 | -€1,602 | -70.3% |
| Gross operating margin | 9900 | €19,473 | €34,004 | +€14,531 | +74.6% |
| Operating profit (loss) | 9901 | €17,193 | €33,325 | +€16,133 | +93.8% |
| Financial income | 75/76B | €144 | €492 | +€348 | +241.9% |
| Recurring financial income | 75 | €144 | €492 | +€348 | +241.9% |
| Financial charges | 65/66B | €7,947 | €7,308 | -€639 | -8.0% |
| Recurring financial charges | 65 | €7,947 | €7,308 | -€639 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €9,390 | €26,509 | +€17,119 | +182.3% |
| Income taxes | 67/77 | €6,214 | €11,386 | +€5,172 | +83.2% |
| Profit (loss) for the period | 9904 | €3,175 | €15,123 | +€11,948 | +376.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,175 | €15,123 | +€11,948 | +376.3% |
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 9 October 2026 via checked.be.