GIFCO: 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.
GIFCO
Largest movements
- Cash -€146,471
down €146,471 (-36.3%), from €403,868 to €257,396
mainly Current investments (-€100,000) and Investment in fixed assets (net) (-€73,192)
- Current investments +€100,000
new in 2025: €100,000
- Financial fixed assets +€73,192
new in 2025: €73,192
- Receivables after one year +€25,424
up €25,424 (+4.5%), from €558,763 to €584,186
- Profit (loss) carried forward +€25,094
up €25,094 (+3.7%), from €679,585 to €704,679
- Tax, wage and social debts +€21,215
up €21,215 (+523.0%), from €4,057 to €25,272
of which Taxes: +€15,215
- Taxes -€104,734
down €104,734 (-92.1%), from €113,693 to €8,959
- Gross operating margin +€18,281
up €18,281 (+1547.5%), from €1,181 to €19,462
- Financial income -€674
down €674 (-2.3%), from €29,439 to €28,765
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 | €1,055,930 | €1,107,321 | +€51,391 | +4.9% |
| Fixed assets | 21/28 | - | €73,192 | +€73,192 | |
| Financial fixed assets | 28 | - | €73,192 | +€73,192 | |
| Current assets | 29/58 | €1,055,930 | €1,034,130 | -€21,801 | -2.1% |
| Amounts receivable after more than one year | 29 | €558,763 | €584,186 | +€25,424 | +4.5% |
| Trade receivables | 290 | €558,763 | €584,186 | +€25,424 | +4.5% |
| Amounts receivable within one year | 40/41 | €90,711 | €89,096 | -€1,615 | -1.8% |
| Trade receivables | 40 | €52,834 | €89,096 | +€36,262 | +68.6% |
| Other amounts receivable | 41 | €37,877 | - | -€37,877 | |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €403,868 | €257,396 | -€146,471 | -36.3% |
| Deferred charges and accrued income | 490/1 | €2,589 | €3,451 | +€862 | +33.3% |
| Total equity and liabilities | 10/49 | €1,055,930 | €1,107,321 | +€51,391 | +4.9% |
| Equity | 10/15 | €757,416 | €782,510 | +€25,094 | +3.3% |
| Contributions | 10/11 | €70,755 | €70,755 | = | 0.0% |
| Capital | 10 | €70,755 | €70,755 | = | 0.0% |
| Issued capital | 100 | €70,755 | €70,755 | = | 0.0% |
| Reserves | 13 | €7,076 | €7,076 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,076 | €7,076 | = | 0.0% |
| Legal reserve | 130 | €7,076 | €7,076 | = | 0.0% |
| Profit (loss) carried forward | 14 | €679,585 | €704,679 | +€25,094 | +3.7% |
| Amounts payable | 17/49 | €298,515 | €324,812 | +€26,297 | +8.8% |
| Amounts payable after more than one year | 17 | €276,863 | €276,863 | = | 0.0% |
| Financial debts | 170/4 | €276,863 | €276,863 | = | 0.0% |
| Amounts payable within one year | 42/48 | €21,652 | €47,576 | +€25,924 | +119.7% |
| Financial debts | 43 | - | €284 | +€284 | |
| Credit institutions | 430/8 | - | €284 | +€284 | |
| Trade debts | 44 | €361 | €2,075 | +€1,714 | +474.6% |
| Suppliers | 440/4 | €361 | €2,075 | +€1,714 | +474.6% |
| Taxes, remuneration and social security | 45 | €4,057 | €25,272 | +€21,215 | +523.0% |
| Taxes | 450/3 | €4,057 | €19,272 | +€15,215 | +375.1% |
| Remuneration and social security | 454/9 | - | €6,000 | +€6,000 | |
| Other amounts payable | 47/48 | €17,235 | €19,945 | +€2,710 | +15.7% |
| Accrued charges and deferred income | 492/3 | - | €373 | +€373 | |
| Other operating charges | 640/8 | €575 | €594 | +€19 | +3.3% |
| Gross operating margin | 9900 | €1,181 | €19,462 | +€18,281 | +1547.5% |
| Operating profit (loss) | 9901 | €606 | €18,868 | +€18,262 | +3012.1% |
| Financial income | 75/76B | €29,439 | €28,765 | -€674 | -2.3% |
| Recurring financial income | 75 | €29,439 | €28,765 | -€674 | -2.3% |
| Financial charges | 65/66B | €13,490 | €13,580 | +€90 | +0.7% |
| Recurring financial charges | 65 | €13,490 | €13,580 | +€90 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €16,555 | €34,053 | +€17,498 | +105.7% |
| Transfer from deferred taxes | 780 | €125,021 | - | -€125,021 | |
| Income taxes | 67/77 | €113,693 | €8,959 | -€104,734 | -92.1% |
| Profit (loss) for the period | 9904 | €27,884 | €25,094 | -€2,789 | -10.0% |
| Transfer from tax-exempt reserves | 789 | €306,086 | - | -€306,086 | |
| Profit (loss) for the period to be appropriated | 9905 | €333,970 | €25,094 | -€308,876 | -92.5% |
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 12 October 2026 via checked.be.