GIGOT Thierry: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
GIGOT Thierry
Largest movements
- Cash -€19,398
down €19,398 (-23.8%), from €81,456 to €62,058
mainly Investment in fixed assets (net) (-€27,985) and Net result for the year (-€20,851)
- Tangible fixed assets +€13,251
up €13,251 (+31.4%), from €42,244 to €55,495
of which Plant, machinery and equipment: +€7,280
- Receivables within one year -€5,726
down €5,726 (-15.0%), from €38,129 to €32,404
of which Other amounts receivable: -€6,123
- Reserves -€21,000
down €21,000 (-20.4%), from €102,859 to €81,859
of which Distributable reserves: -€21,000
- Tax, wage and social debts +€12,450
up €12,450 (+92.4%), from €13,472 to €25,922
of which Remuneration and social security: +€9,718
- Other debts -€6,693
down €6,693 (-96.2%), from €6,960 to €268
- Trade debts -€3,224
down €3,224 (-18.4%), from €17,494 to €14,270
- Current portion of long-term debt +€2,578
up €2,578 (+37.0%), from €6,961 to €9,539
- Staff costs +€42,529
up €42,529 (+38.9%), from €109,380 to €151,910
- Purchases and services -€11,594
down €11,594 (-5.4%), from €215,280 to €203,686
- Taxes -€11,264
down €11,264 (-96.4%), from €11,683 to €419
- Gross operating margin -€6,001
down €6,001 (-3.8%), from €158,253 to €152,252
- Depreciation +€2,007
up €2,007 (+15.8%), from €12,727 to €14,734
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €181,947 | €167,746 | -€14,201 | -7.8% |
| Fixed assets | 21/28 | €42,555 | €55,806 | +€13,251 | +31.1% |
| Tangible fixed assets | 22/27 | €42,244 | €55,495 | +€13,251 | +31.4% |
| Plant, machinery and equipment | 23 | €4,191 | €11,471 | +€7,280 | +174% |
| Furniture and vehicles | 24 | €38,053 | €44,025 | +€5,971 | +15.7% |
| Financial fixed assets | 28 | €311 | €311 | = | 0.0% |
| Current assets | 29/58 | €139,392 | €111,940 | -€27,452 | -19.7% |
| Stocks and contracts in progress | 3 | €19,007 | €17,478 | -€1,529 | -8.0% |
| Stocks | 30/36 | €19,007 | €17,478 | -€1,529 | -8.0% |
| Amounts receivable within one year | 40/41 | €38,129 | €32,404 | -€5,726 | -15.0% |
| Trade receivables | 40 | €32,006 | €32,404 | +€397 | +1.2% |
| Other amounts receivable | 41 | €6,123 | - | -€6,123 | |
| Cash at bank and in hand | 54/58 | €81,456 | €62,058 | -€19,398 | -23.8% |
| Deferred charges and accrued income | 490/1 | €800 | - | -€800 | |
| Total equity and liabilities | 10/49 | €181,947 | €167,746 | -€14,201 | -7.8% |
| Equity | 10/15 | €121,818 | €100,967 | -€20,851 | -17.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €102,859 | €81,859 | -€21,000 | -20.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €101,000 | €80,000 | -€21,000 | -20.8% |
| Profit (loss) carried forward | 14 | €367 | €516 | +€149 | +40.6% |
| Amounts payable | 17/49 | €60,129 | €66,779 | +€6,650 | +11.1% |
| Amounts payable after more than one year | 17 | €15,241 | €16,779 | +€1,538 | +10.1% |
| Financial debts | 170/4 | €15,241 | €16,779 | +€1,538 | +10.1% |
| Amounts payable within one year | 42/48 | €44,888 | €49,999 | +€5,112 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €6,961 | €9,539 | +€2,578 | +37.0% |
| Trade debts | 44 | €17,494 | €14,270 | -€3,224 | -18.4% |
| Suppliers | 440/4 | €17,494 | €14,270 | -€3,224 | -18.4% |
| Taxes, remuneration and social security | 45 | €13,472 | €25,922 | +€12,450 | +92.4% |
| Taxes | 450/3 | €11,954 | €14,686 | +€2,732 | +22.9% |
| Remuneration and social security | 454/9 | €1,518 | €11,236 | +€9,718 | +640% |
| Other amounts payable | 47/48 | €6,960 | €268 | -€6,693 | -96.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €215,280 | €203,686 | -€11,594 | -5.4% |
| Remuneration, social security and pensions | 62 | €109,380 | €151,910 | +€42,529 | +38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,727 | €14,734 | +€2,007 | +15.8% |
| Other operating charges | 640/8 | €1,014 | €1,127 | +€114 | +11.2% |
| Non-recurring operating charges | 66A | - | €5,080 | +€5,080 | |
| Gross operating margin | 9900 | €158,253 | €152,252 | -€6,001 | -3.8% |
| Operating profit (loss) | 9901 | €35,132 | -€20,599 | -€55,731 | |
| Financial income | 75/76B | €346 | €1,309 | +€963 | +279% |
| Recurring financial income | 75 | €346 | €1,309 | +€963 | +279% |
| Financial charges | 65/66B | €513 | €1,142 | +€629 | +123% |
| Recurring financial charges | 65 | €513 | €1,142 | +€629 | +123% |
| Profit (loss) for the period before taxes | 9903 | €34,965 | -€20,432 | -€55,397 | |
| Income taxes | 67/77 | €11,683 | €419 | -€11,264 | -96.4% |
| Profit (loss) for the period | 9904 | €23,282 | -€20,851 | -€44,133 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,282 | -€20,851 | -€44,133 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.