GIFOM: 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.
GIFOM
Largest movements
- Receivables within one year +€70,402
up €70,402 (+9.8%), from €717,928 to €788,330
of which Trade receivables: +€69,373
- Trade debts +€95,252
up €95,252 (+26.9%), from €354,563 to €449,815
- Tax, wage and social debts -€27,465
down €27,465 (-40.5%), from €67,841 to €40,376
of which Taxes: -€20,198
- Other debts -€24,446
down €24,446 (-20.0%), from €122,231 to €97,784
- Short-term financial debts +€13,726
new in 2025: €13,726
- Gross operating margin -€36,744
down €36,744 (-15.7%), from €234,311 to €197,567
- Staff costs -€26,659
down €26,659 (-13.4%), from €198,593 to €171,934
- Taxes -€2,962
down €2,962 (-20.5%), from €14,433 to €11,471
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 | €729,147 | €793,187 | +€64,040 | +8.8% |
| Fixed assets | 21/28 | €2,000 | €0 | -€2,000 | -100.0% |
| Financial fixed assets | 28 | €2,000 | €0 | -€2,000 | -100.0% |
| Current assets | 29/58 | €727,147 | €793,187 | +€66,040 | +9.1% |
| Amounts receivable within one year | 40/41 | €717,928 | €788,330 | +€70,402 | +9.8% |
| Trade receivables | 40 | €717,361 | €786,733 | +€69,373 | +9.7% |
| Other amounts receivable | 41 | €567 | €1,597 | +€1,029 | +181.4% |
| Cash at bank and in hand | 54/58 | €9,219 | €4,857 | -€4,361 | -47.3% |
| Total equity and liabilities | 10/49 | €729,147 | €793,187 | +€64,040 | +8.8% |
| Equity | 10/15 | €184,512 | €191,486 | +€6,973 | +3.8% |
| Contributions | 10/11 | €34,772 | €35,456 | +€684 | +2.0% |
| Reserves | 13 | €149,740 | €156,030 | +€6,289 | +4.2% |
| Non-distributable reserves | 130/1 | €3,990 | €3,990 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,990 | €3,990 | = | 0.0% |
| Distributable reserves | 133 | €145,750 | €152,039 | +€6,289 | +4.3% |
| Amounts payable | 17/49 | €544,635 | €601,701 | +€57,067 | +10.5% |
| Amounts payable within one year | 42/48 | €544,635 | €601,701 | +€57,067 | +10.5% |
| Financial debts | 43 | - | €13,726 | +€13,726 | |
| Credit institutions | 430/8 | - | €13,726 | +€13,726 | |
| Trade debts | 44 | €354,563 | €449,815 | +€95,252 | +26.9% |
| Suppliers | 440/4 | €354,563 | €449,815 | +€95,252 | +26.9% |
| Taxes, remuneration and social security | 45 | €67,841 | €40,376 | -€27,465 | -40.5% |
| Taxes | 450/3 | €49,488 | €29,290 | -€20,198 | -40.8% |
| Remuneration and social security | 454/9 | €18,352 | €11,086 | -€7,266 | -39.6% |
| Other amounts payable | 47/48 | €122,231 | €97,784 | -€24,446 | -20.0% |
| Non-recurring operating income | 76A | €40,744 | €24,446 | -€16,297 | -40.0% |
| Remuneration, social security and pensions | 62 | €198,593 | €171,934 | -€26,659 | -13.4% |
| Other operating charges | 640/8 | €2,587 | €2,104 | -€483 | -18.7% |
| Gross operating margin | 9900 | €234,311 | €197,567 | -€36,744 | -15.7% |
| Operating profit (loss) | 9901 | €33,131 | €23,529 | -€9,602 | -29.0% |
| Financial income | 75/76B | €30 | €944 | +€914 | +3053.2% |
| Recurring financial income | 75 | €30 | €944 | +€914 | +3053.2% |
| Financial charges | 65/66B | €4,982 | €6,713 | +€1,732 | +34.8% |
| Recurring financial charges | 65 | €4,982 | €6,713 | +€1,732 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €28,179 | €17,760 | -€10,419 | -37.0% |
| Income taxes | 67/77 | €14,433 | €11,471 | -€2,962 | -20.5% |
| Profit (loss) for the period | 9904 | €13,746 | €6,289 | -€7,457 | -54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,746 | €6,289 | -€7,457 | -54.2% |
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.