GIGA Green Turtle: 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.
GIGA Green Turtle
Largest movements
- Tangible fixed assets +€9.2m
up €9.2m (+54.5%), from €16.9m to €26.1m
of which Assets under construction and advance payments: +€9.2m
- Financial fixed assets -€1.1m
down €1.1m (-100%), from €1.1m to €0
- Cash +€591,270
up €591,270 (+775%), from €76,254 to €667,524
mainly Current portion of long-term debt (+€10.1m) and Accrued charges and deferred income (+€1.6m)
- Current portion of long-term debt +€10.1m
new in 2025: €10.1m
- Profit (loss) carried forward -€3.1m
down €3.1m (-95.1%), from -€3.3m to -€6.3m
- Accrued charges and deferred income +€1.6m
up €1.6m (+785%), from €203,039 to €1.8m
- Other debts +€931,952
up €931,952 (+380%), from €245,100 to €1.2m
- Debts after one year -€886,758
down €886,758 (-5.8%), from €15.4m to €14.5m
- Depreciation -€1.8m
down €1.8m (-100%), from €1.8m to €0
- Financial charges +€1.8m
up €1.8m (+137%), from €1.3m to €3.1m
- Gross operating margin +€147,885
up €147,885 (+88.6%), from -€166,877 to -€18,992
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.
Derived cash bridge
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 | €18,286,003 | €26,883,415 | +€8.6m | +47.0% |
| Fixed assets | 21/28 | €18,060,399 | €26,146,547 | +€8.1m | +44.8% |
| Tangible fixed assets | 22/27 | €16,920,399 | €26,146,547 | +€9.2m | +54.5% |
| Land and buildings | 22 | €14,901,720 | €14,901,720 | = | 0.0% |
| Assets under construction and advance payments | 27 | €2,018,679 | €11,244,827 | +€9.2m | +457% |
| Financial fixed assets | 28 | €1,140,000 | €0 | -€1.1m | -100% |
| Current assets | 29/58 | €225,604 | €736,868 | +€511,264 | +227% |
| Amounts receivable within one year | 40/41 | €149,350 | €69,344 | -€80,006 | -53.6% |
| Other amounts receivable | 41 | €149,350 | €69,344 | -€80,006 | -53.6% |
| Cash at bank and in hand | 54/58 | €76,254 | €667,524 | +€591,270 | +775% |
| Total equity and liabilities | 10/49 | €18,286,003 | €26,883,415 | +€8.6m | +47.0% |
| Equity | 10/15 | €1,746,266 | -€1,347,777 | -€3.1m | |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,253,734 | -€6,347,777 | -€3.1m | -95.1% |
| Amounts payable | 17/49 | €16,539,737 | €28,231,192 | +€11.7m | +70.7% |
| Amounts payable after more than one year | 17 | €15,407,409 | €14,520,651 | -€886,758 | -5.8% |
| Financial debts | 170/4 | €15,407,409 | €14,520,651 | -€886,758 | -5.8% |
| Amounts payable within one year | 42/48 | €929,289 | €11,914,042 | +€11.0m | +1,182% |
| Current portion of amounts payable after more than one year | 42 | - | €10,106,906 | +€10.1m | |
| Trade debts | 44 | €684,189 | €630,084 | -€54,104 | -7.9% |
| Suppliers | 440/4 | €684,189 | €630,084 | -€54,104 | -7.9% |
| Other amounts payable | 47/48 | €245,100 | €1,177,052 | +€931,952 | +380% |
| Accrued charges and deferred income | 492/3 | €203,039 | €1,796,499 | +€1.6m | +785% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,788,491 | €0 | -€1.8m | -100% |
| Other operating charges | 640/8 | - | €306 | +€306 | |
| Gross operating margin | 9900 | -€166,877 | -€18,992 | +€147,885 | +88.6% |
| Operating profit (loss) | 9901 | -€1,955,368 | -€19,298 | +€1.9m | +99.0% |
| Financial charges | 65/66B | €1,298,366 | €3,074,745 | +€1.8m | +137% |
| Recurring financial charges | 65 | €1,298,366 | €3,074,745 | +€1.8m | +137% |
| Profit (loss) for the period before taxes | 9903 | -€3,253,734 | -€3,094,043 | +€159,691 | +4.9% |
| Profit (loss) for the period | 9904 | -€3,253,734 | -€3,094,043 | +€159,691 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,253,734 | -€3,094,043 | +€159,691 | +4.9% |
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 26 October 2026 via checked.be.