GIGARANT: 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.
What changed
GIGARANT
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€45.6m
2024 · €27.5m+€18.1m
Equity
€364.9m
2024 · €319.3m+€45.6m
Cash
€5.0m
2024 · €3.5m+€1.5m
Balance sheet total
€391.2m
2024 · €375.2m+€16.0m
Largest movements
Assets
- Current investments +€16.0m
up €16.0m (+4.4%), from €364.1m to €380.2m
Equity and liabilities
- Profit (loss) carried forward +€43.3m
up €43.3m (+252.4%), from €17.2m to €60.5m
- Provisions -€30.2m
down €30.2m (-57.9%), from €52.2m to €22.0m
Income statement
- Services and other goods -€25.4m
down €25.4m (-87.9%), from €29.0m to €3.5m
- Other operating income -€10.0m
no longer reported in 2025 (was €10.0m)
- Provisions -€6.1m
down €6.1m (-25.4%), from -€24.1m to -€30.2m
- Financial income -€3.3m
down €3.3m (-24.8%), from €13.4m to €10.1m
- Taxes +€2.9m
up €2.9m (+243.1%), from €1.2m to €4.1m
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.
Result 2024
€27.5m
Turnover
+€2.6m
Other operating income
-€10.0m
Services and other goods
+€25.4m
Provisions
+€6.1m
Other operating charges
+€26,036
Other operating items
-€482,443
Financial income
-€3.3m
Financial charges
+€659,212
Taxes
-€2.9m
Result 2025
€45.6m
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.
From operations
+€17.5m
Investment
-€16.0m
Financing
€0
Cash 2024
€3.5m
From operations (derived)
+€17.5m
Net result for the year
+€45.6m
Receivables within one year
-€976,373
Deferred charges and accrued income
+€2.5m
Provisions
-€30.2m
Trade debts
+€234,485
Tax, wage and social debts
-€566,529
Other debts
+€24,619
Accrued charges and deferred income
+€927,449
Investment (derived)
-€16.0m
Current investments
-€16.0m
Cash 2025
€5.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €375,158,372 | €391,168,323 | +€16.0m | +4.3% |
| Current assets | 29/58 | €375,158,372 | €391,168,323 | +€16.0m | +4.3% |
| Amounts receivable after more than one year | 29 | €84,753 | €84,753 | = | 0.0% |
| Other amounts receivable | 291 | €84,753 | €84,753 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €423,906 | €1,400,279 | +€976,373 | +230.3% |
| Other amounts receivable | 41 | €423,906 | €1,400,279 | +€976,373 | +230.3% |
| Current investments | 50/53 | €364,148,553 | €380,184,610 | +€16.0m | +4.4% |
| Other investments | 51/53 | €364,148,553 | €380,184,610 | +€16.0m | +4.4% |
| Cash at bank and in hand | 54/58 | €3,540,906 | €5,007,565 | +€1.5m | +41.4% |
| Deferred charges and accrued income | 490/1 | €6,960,254 | €4,491,117 | -€2.5m | -35.5% |
| Total equity and liabilities | 10/49 | €375,158,372 | €391,168,323 | +€16.0m | +4.3% |
| Equity | 10/15 | €319,273,408 | €364,896,959 | +€45.6m | +14.3% |
| Contributions | 10/11 | €300,000,000 | €300,000,000 | = | 0.0% |
| Capital | 10 | €300,000,000 | €300,000,000 | = | 0.0% |
| Issued capital | 100 | €300,000,000 | €300,000,000 | = | 0.0% |
| Reserves | 13 | €2,103,495 | €4,384,672 | +€2.3m | +108.4% |
| Non-distributable reserves | 130/1 | €2,103,495 | €4,384,672 | +€2.3m | +108.4% |
| Legal reserve | 130 | €2,103,495 | €4,384,672 | +€2.3m | +108.4% |
| Profit (loss) carried forward | 14 | €17,169,913 | €60,512,287 | +€43.3m | +252.4% |
| Provisions and deferred taxes | 16 | €52,198,966 | €21,965,341 | -€30.2m | -57.9% |
| Provisions for liabilities and charges | 160/5 | €52,198,966 | €21,965,341 | -€30.2m | -57.9% |
| Other liabilities and charges | 164/5 | €52,198,966 | €21,965,341 | -€30.2m | -57.9% |
| Amounts payable | 17/49 | €3,685,999 | €4,306,023 | +€620,024 | +16.8% |
| Amounts payable within one year | 42/48 | €1,184,136 | €876,711 | -€307,425 | -26.0% |
| Trade debts | 44 | €598,701 | €833,186 | +€234,485 | +39.2% |
| Suppliers | 440/4 | €598,701 | €833,186 | +€234,485 | +39.2% |
| Taxes, remuneration and social security | 45 | €585,436 | €18,907 | -€566,529 | -96.8% |
| Taxes | 450/3 | €585,436 | €7,563 | -€577,873 | -98.7% |
| Remuneration and social security | 454/9 | - | €11,344 | +€11,344 | |
| Other amounts payable | 47/48 | - | €24,619 | +€24,619 | |
| Accrued charges and deferred income | 492/3 | €2,501,863 | €3,429,312 | +€927,449 | +37.1% |
| Operating income | 70/76A | €21,419,799 | €13,493,514 | -€7.9m | -37.0% |
| Turnover | 70 | €10,932,773 | €13,493,514 | +€2.6m | +23.4% |
| Other operating income | 74 | €10,004,584 | - | -€10.0m | |
| Non-recurring operating income | 76A | €482,443 | - | -€482,443 | |
| Operating charges | 60/66A | €5,363,413 | -€26,223,262 | -€31.6m | |
| Services and other goods | 61 | €28,954,679 | €3,516,129 | -€25.4m | -87.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€24,111,535 | -€30,233,625 | -€6.1m | -25.4% |
| Other operating charges | 640/8 | €520,269 | €494,233 | -€26,036 | -5.0% |
| Operating profit (loss) | 9901 | €16,056,387 | €39,716,776 | +€23.7m | +147.4% |
| Financial income | 75/76B | €13,416,748 | €10,086,598 | -€3.3m | -24.8% |
| Recurring financial income | 75 | €13,416,748 | €10,086,598 | -€3.3m | -24.8% |
| Income from current assets | 751 | €13,416,748 | €10,086,598 | -€3.3m | -24.8% |
| Financial charges | 65/66B | €785,725 | €126,514 | -€659,212 | -83.9% |
| Recurring financial charges | 65 | €785,725 | €126,514 | -€659,212 | -83.9% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €620,852 | - | -€620,852 | |
| Other financial charges | 652/9 | €164,873 | €126,514 | -€38,359 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €28,687,410 | €49,676,860 | +€21.0m | +73.2% |
| Income taxes | 67/77 | €1,181,464 | €4,053,309 | +€2.9m | +243.1% |
| Taxes | 670/3 | €1,181,464 | €4,053,309 | +€2.9m | +243.1% |
| Profit (loss) for the period | 9904 | €27,505,945 | €45,623,551 | +€18.1m | +65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,505,945 | €45,623,551 | +€18.1m | +65.9% |
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 10 October 2026 via checked.be.