GIFI: 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.
GIFI
Largest movements
- Tangible fixed assets -€11,555
down €11,555 (-6.2%), from €186,395 to €174,840
of which Land and buildings: -€6,885
- Current portion of long-term debt -€11,308
no longer reported in 2025 (was €11,308)
- Trade debts +€2,750
up €2,750 (+1844.6%), from €149 to €2,899
- Gross operating margin -€1,871
down €1,871 (-11.7%), from €15,939 to €14,068
- Other operating charges +€811
up €811 (+51.8%), from €1,564 to €2,374
- Financial charges -€677
down €677 (-78.5%), from €863 to €186
- Depreciation -€621
down €621 (-5.3%), from €11,780 to €11,158
- Taxes -€313
down €313 (-64.1%), from €489 to €176
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 | €198,188 | €187,902 | -€10,286 | -5.2% |
| Fixed assets | 21/28 | €186,395 | €174,840 | -€11,555 | -6.2% |
| Tangible fixed assets | 22/27 | €186,395 | €174,840 | -€11,555 | -6.2% |
| Land and buildings | 22 | €163,283 | €156,398 | -€6,885 | -4.2% |
| Plant, machinery and equipment | 23 | €22,353 | €18,328 | -€4,025 | -18.0% |
| Furniture and vehicles | 24 | €759 | €114 | -€645 | -84.9% |
| Current assets | 29/58 | €11,793 | €13,063 | +€1,269 | +10.8% |
| Amounts receivable within one year | 40/41 | €10,574 | €12,449 | +€1,876 | +17.7% |
| Trade receivables | 40 | €9,463 | €11,478 | +€2,016 | +21.3% |
| Other amounts receivable | 41 | €1,111 | €971 | -€140 | -12.6% |
| Cash at bank and in hand | 54/58 | €1,052 | €77 | -€975 | -92.7% |
| Deferred charges and accrued income | 490/1 | €168 | €536 | +€369 | +220.0% |
| Total equity and liabilities | 10/49 | €198,188 | €187,902 | -€10,286 | -5.2% |
| Equity | 10/15 | €119,277 | €119,452 | +€175 | +0.1% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €14,000 | €14,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,277 | €25,452 | +€175 | +0.7% |
| Amounts payable | 17/49 | €78,911 | €68,450 | -€10,461 | -13.3% |
| Amounts payable within one year | 42/48 | €78,911 | €68,450 | -€10,461 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €11,308 | - | -€11,308 | |
| Trade debts | 44 | €149 | €2,899 | +€2,750 | +1844.6% |
| Suppliers | 440/4 | €149 | €2,899 | +€2,750 | +1844.6% |
| Taxes, remuneration and social security | 45 | €969 | €664 | -€305 | -31.5% |
| Taxes | 450/3 | €969 | €664 | -€305 | -31.5% |
| Other amounts payable | 47/48 | €66,485 | €64,887 | -€1,598 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,780 | €11,158 | -€621 | -5.3% |
| Other operating charges | 640/8 | €1,564 | €2,374 | +€811 | +51.8% |
| Gross operating margin | 9900 | €15,939 | €14,068 | -€1,871 | -11.7% |
| Operating profit (loss) | 9901 | €2,595 | €535 | -€2,060 | -79.4% |
| Financial income | 75/76B | €0 | €1 | +€0 | +90.6% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +90.6% |
| Financial charges | 65/66B | €863 | €186 | -€677 | -78.5% |
| Recurring financial charges | 65 | €863 | €186 | -€677 | -78.5% |
| Profit (loss) for the period before taxes | 9903 | €1,733 | €350 | -€1,382 | -79.8% |
| Income taxes | 67/77 | €489 | €176 | -€313 | -64.1% |
| Profit (loss) for the period | 9904 | €1,244 | €175 | -€1,069 | -86.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,244 | €175 | -€1,069 | -86.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.