GIFTIFY: 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.
What changed
GIFTIFY
NACE 26.120, Manufacture of computer, electronic and optical products
fiscal year 31-12-2024 against 31-12-2025filed annual accounts (NBB)
Net result for the year
€90,891
31-12-2024 · €302,579-€211,688
Equity
€1.3m
31-12-2024 · €1.2m+€90,891
Cash
€34.9m
31-12-2024 · €27.3m+€7.7m
Balance sheet total
€64.5m
31-12-2024 · €55.2m+€9.3m
Largest movements
Assets
- Cash +€7.7m
up €7.7m (+28.2%), from €27.3m to €34.9m
mainly Other debts (+€12.6m) and Receivables within one year (+€657,794)
- Financial fixed assets +€2.0m
up €2.0m (+456.2%), from €428,979 to €2.4m
- Deferred charges and accrued income +€869,836
up €869,836 (+18.0%), from €4.8m to €5.7m
- Receivables within one year -€657,794
down €657,794 (-3.1%), from €21.3m to €20.7m
of which Trade receivables: -€8.3m
Equity and liabilities
- Other debts +€12.6m
up €12.6m (+26.3%), from €47.9m to €60.5m
- Trade debts -€3.8m
down €3.8m (-74.6%), from €5.1m to €1.3m
Income statement
- Financial charges -€682,705
down €682,705, from €390,879 to -€291,826
of which Financial charges: -€670,062
- Staff costs +€453,685
up €453,685 (+31.0%), from €1.5m to €1.9m
- Depreciation -€333,771
down €333,771 (-55.3%), from €603,232 to €269,461
- Financial income +€296,311
up €296,311 (+418.5%), from €70,796 to €367,106
of which Financial income: +€291,940
- Write-downs +€292,722
up €292,722, from -€92,722 to €200,000
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
€302,579
Gross operating margin
-€58,684
Staff costs
-€453,685
Depreciation
+€333,771
Write-downs
-€292,722
Other operating charges
+€89,897
Other operating items
-€866,111
Financial income
+€296,311
Financial charges
+€682,705
Taxes
+€56,831
Result 31-12-2025
€90,891
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€9.5m
Investment
-€1.8m
Financing
-€70,007
Cash 31-12-2024
€27.3m
From operations (derived)
+€9.5m
Net result for the year
+€90,891
Depreciation
+€269,461
Stocks and contracts
+€108,019
Receivables within one year
+€657,794
Deferred charges and accrued income
-€869,836
Trade debts
-€3.8m
Tax, wage and social debts
-€14,507
Other debts
+€12.6m
Accrued charges and deferred income
+€456,033
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.8m
Financing
-€70,007
Debts after one year
-€19,027
Current portion of long-term debt
-€50,980
Cash 31-12-2025
€34.9m
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €55,239,133 | €64,515,786 | +€9.3m | +16.8% |
| Fixed assets | 21/28 | €1,516,266 | €3,007,988 | +€1.5m | +98.4% |
| Intangible fixed assets | 21 | €832,733 | €446,624 | -€386,109 | -46.4% |
| Tangible fixed assets | 22/27 | €254,554 | €175,521 | -€79,033 | -31.0% |
| Land and buildings | 22 | €3,354 | €104,797 | +€101,443 | +3024.4% |
| Plant, machinery and equipment | 23 | €152,191 | €40,924 | -€111,267 | -73.1% |
| Furniture and vehicles | 24 | €38,123 | €29,800 | -€8,323 | -21.8% |
| Assets under construction and advance payments | 27 | €60,886 | €0 | -€60,886 | -100.0% |
| Financial fixed assets | 28 | €428,979 | €2,385,844 | +€2.0m | +456.2% |
| Current assets | 29/58 | €53,722,867 | €61,507,798 | +€7.8m | +14.5% |
| Stocks and contracts in progress | 3 | €312,814 | €204,795 | -€108,019 | -34.5% |
| Stocks | 30/36 | €312,814 | €204,795 | -€108,019 | -34.5% |
| Amounts receivable within one year | 40/41 | €21,322,080 | €20,664,287 | -€657,794 | -3.1% |
| Trade receivables | 40 | €12,253,060 | €3,992,561 | -€8.3m | -67.4% |
| Other amounts receivable | 41 | €9,069,021 | €16,671,725 | +€7.6m | +83.8% |
| Cash at bank and in hand | 54/58 | €27,262,054 | €34,942,961 | +€7.7m | +28.2% |
| Deferred charges and accrued income | 490/1 | €4,825,919 | €5,695,755 | +€869,836 | +18.0% |
| Total equity and liabilities | 10/49 | €55,239,133 | €64,515,786 | +€9.3m | +16.8% |
| Equity | 10/15 | €1,190,205 | €1,281,096 | +€90,891 | +7.6% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €16,200 | €16,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Legal reserve | 130 | €16,200 | €16,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,012,005 | €1,102,896 | +€90,891 | +9.0% |
| Amounts payable | 17/49 | €54,048,928 | €63,234,690 | +€9.2m | +17.0% |
| Amounts payable after more than one year | 17 | €169,027 | €150,000 | -€19,027 | -11.3% |
| Financial debts | 170/4 | €169,027 | €150,000 | -€19,027 | -11.3% |
| Amounts payable within one year | 42/48 | €53,383,607 | €62,132,363 | +€8.7m | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €105,472 | €54,493 | -€50,980 | -48.3% |
| Trade debts | 44 | €5,072,679 | €1,286,208 | -€3.8m | -74.6% |
| Suppliers | 440/4 | €5,072,679 | €1,286,208 | -€3.8m | -74.6% |
| Taxes, remuneration and social security | 45 | €284,059 | €269,553 | -€14,507 | -5.1% |
| Taxes | 450/3 | €128,465 | €83,863 | -€44,603 | -34.7% |
| Remuneration and social security | 454/9 | €155,594 | €185,690 | +€30,096 | +19.3% |
| Other amounts payable | 47/48 | €47,921,397 | €60,522,110 | +€12.6m | +26.3% |
| Accrued charges and deferred income | 492/3 | €496,294 | €952,327 | +€456,033 | +91.9% |
| Remuneration, social security and pensions | 62 | €1,465,813 | €1,919,498 | +€453,685 | +31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €603,232 | €269,461 | -€333,771 | -55.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€92,722 | €200,000 | +€292,722 | |
| Other operating charges | 640/8 | €132,531 | €42,634 | -€89,897 | -67.8% |
| Operating charges capitalised as restructuring costs | 649 | -€590,103 | €0 | +€590,103 | |
| Non-recurring operating charges | 66A | - | €276,007 | +€276,007 | |
| Gross operating margin | 9900 | €2,285,430 | €2,226,746 | -€58,684 | -2.6% |
| Operating profit (loss) | 9901 | €766,680 | -€480,854 | -€1.2m | |
| Financial income | 75/76B | €70,796 | €367,106 | +€296,311 | +418.5% |
| Recurring financial income | 75 | €70,796 | €362,735 | +€291,940 | +412.4% |
| Non-recurring financial income | 76B | - | €4,371 | +€4,371 | |
| Financial charges | 65/66B | €390,879 | -€291,826 | -€682,705 | |
| Recurring financial charges | 65 | €378,236 | -€291,826 | -€670,062 | |
| Non-recurring financial charges | 66B | €12,643 | €0 | -€12,643 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €446,597 | €178,079 | -€268,519 | -60.1% |
| Income taxes | 67/77 | €144,019 | €87,188 | -€56,831 | -39.5% |
| Profit (loss) for the period | 9904 | €302,579 | €90,891 | -€211,688 | -70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €302,579 | €90,891 | -€211,688 | -70.0% |
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 1 October 2026 via checked.be.