Gigaro: 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.
Gigaro
Largest movements
- Tangible fixed assets -€706,711
down €706,711 (-17.1%), from €4.1m to €3.4m
of which Land and buildings: -€706,711
- Current investments +€475,000
new in 2025: €475,000
- Receivables within one year -€228,985
down €228,985 (-61.3%), from €373,729 to €144,744
- Short-term financial debts -€690,349
no longer reported in 2025 (was €690,349)
- Debts after one year +€642,220
up €642,220 (+70.2%), from €915,255 to €1.6m
- Profit (loss) carried forward -€227,080
down €227,080 (-78.7%), from -€288,657 to -€515,738
- Other debts -€188,957
down €188,957 (-10.5%), from €1.8m to €1.6m
- Depreciation -€187,978
down €187,978 (-61.5%), from €305,602 to €117,624
- Other operating charges +€120,764
up €120,764 (+301.2%), from €40,096 to €160,860
- Financial charges -€57,991
down €57,991 (-32.9%), from €176,201 to €118,210
- Gross operating margin -€44,709
down €44,709 (-23.9%), from €186,901 to €142,192
- Financial income -€18,920
down €18,920 (-40.8%), from €46,341 to €27,421
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 | €4,524,533 | €4,065,435 | -€459,098 | -10.1% |
| Fixed assets | 21/28 | €4,137,194 | €3,430,482 | -€706,711 | -17.1% |
| Tangible fixed assets | 22/27 | €4,137,194 | €3,430,482 | -€706,711 | -17.1% |
| Land and buildings | 22 | €3,864,194 | €3,157,482 | -€706,711 | -18.3% |
| Other tangible fixed assets | 26 | €273,000 | €273,000 | = | 0.0% |
| Current assets | 29/58 | €387,340 | €634,953 | +€247,613 | +63.9% |
| Amounts receivable within one year | 40/41 | €373,729 | €144,744 | -€228,985 | -61.3% |
| Other amounts receivable | 41 | €373,729 | €144,744 | -€228,985 | -61.3% |
| Current investments | 50/53 | - | €475,000 | +€475,000 | |
| Cash at bank and in hand | 54/58 | - | €1,538 | +€1,538 | |
| Deferred charges and accrued income | 490/1 | €13,610 | €13,671 | +€61 | +0.4% |
| Total equity and liabilities | 10/49 | €4,524,533 | €4,065,435 | -€459,098 | -10.1% |
| Equity | 10/15 | €1,014,154 | €787,074 | -€227,080 | -22.4% |
| Contributions | 10/11 | €1,302,811 | €1,302,811 | = | 0.0% |
| Outside capital | 11 | €1,302,811 | - | -€1.3m | |
| Other | 1109/19 | €1,302,811 | - | -€1.3m | |
| Profit (loss) carried forward | 14 | -€288,657 | -€515,738 | -€227,080 | -78.7% |
| Amounts payable | 17/49 | €3,510,379 | €3,278,362 | -€232,018 | -6.6% |
| Amounts payable after more than one year | 17 | €915,255 | €1,557,475 | +€642,220 | +70.2% |
| Financial debts | 170/4 | €915,255 | €1,557,475 | +€642,220 | +70.2% |
| Amounts payable within one year | 42/48 | €2,540,809 | €1,663,840 | -€876,969 | -34.5% |
| Current portion of amounts payable after more than one year | 42 | €57,563 | €59,860 | +€2,297 | +4.0% |
| Financial debts | 43 | €690,349 | - | -€690,349 | |
| Credit institutions | 430/8 | €690,349 | - | -€690,349 | |
| Trade debts | 44 | €1,090 | €1,130 | +€39 | +3.6% |
| Suppliers | 440/4 | €1,090 | €1,130 | +€39 | +3.6% |
| Other amounts payable | 47/48 | €1,791,807 | €1,602,851 | -€188,957 | -10.5% |
| Accrued charges and deferred income | 492/3 | €54,315 | €57,047 | +€2,732 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €305,602 | €117,624 | -€187,978 | -61.5% |
| Other operating charges | 640/8 | €40,096 | €160,860 | +€120,764 | +301.2% |
| Gross operating margin | 9900 | €186,901 | €142,192 | -€44,709 | -23.9% |
| Operating profit (loss) | 9901 | -€158,797 | -€136,292 | +€22,505 | +14.2% |
| Financial income | 75/76B | €46,341 | €27,421 | -€18,920 | -40.8% |
| Recurring financial income | 75 | €46,341 | €27,421 | -€18,920 | -40.8% |
| Financial charges | 65/66B | €176,201 | €118,210 | -€57,991 | -32.9% |
| Recurring financial charges | 65 | €176,201 | €118,210 | -€57,991 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | -€288,657 | -€227,080 | +€61,577 | +21.3% |
| Profit (loss) for the period | 9904 | -€288,657 | -€227,080 | +€61,577 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€288,657 | -€227,080 | +€61,577 | +21.3% |
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 4 October 2026 via checked.be.