GIKAdecor: 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.
GIKAdecor
Largest movements
- Intangible fixed assets +€215,517
new in 2025: €215,517
- Tangible fixed assets +€188,857
up €188,857 (+499.0%), from €37,844 to €226,701
of which Other tangible fixed assets: +€194,098
- Cash -€115,585
down €115,585 (-39.9%), from €289,696 to €174,111
mainly Investment in fixed assets (net) (-€481,706) and Advances received (-€110,329)
- Stocks and contracts -€51,318
down €51,318 (-53.1%), from €96,572 to €45,254
of which Contracts in progress: -€49,727
- Financial fixed assets +€30,000
up €30,000 (+266.7%), from €11,250 to €41,250
- Debts after one year +€167,100
up €167,100 (+418.4%), from €39,937 to €207,037
- Advances received -€110,329
no longer reported in 2025 (was €110,329)
- Reserves +€83,659
up €83,659 (+49.8%), from €167,832 to €251,492
- Trade debts +€58,175
up €58,175 (+75.5%), from €77,062 to €135,237
- Current portion of long-term debt +€58,051
up €58,051 (+489.6%), from €11,856 to €69,907
- Gross operating margin +€93,581
up €93,581 (+40.7%), from €229,793 to €323,374
- Staff costs +€52,631
up €52,631 (+51.6%), from €102,009 to €154,640
- Depreciation +€38,011
up €38,011 (+407.8%), from €9,320 to €47,331
- Financial charges +€7,439
up €7,439 (+188.2%), from €3,952 to €11,391
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 | €446,548 | €715,422 | +€268,874 | +60.2% |
| Fixed assets | 21/28 | €49,094 | €483,468 | +€434,374 | +884.8% |
| Intangible fixed assets | 21 | - | €215,517 | +€215,517 | |
| Tangible fixed assets | 22/27 | €37,844 | €226,701 | +€188,857 | +499.0% |
| Plant, machinery and equipment | 23 | - | €1,455 | +€1,455 | |
| Furniture and vehicles | 24 | €33,531 | €26,834 | -€6,697 | -20.0% |
| Other tangible fixed assets | 26 | €4,313 | €198,412 | +€194,098 | +4499.9% |
| Financial fixed assets | 28 | €11,250 | €41,250 | +€30,000 | +266.7% |
| Current assets | 29/58 | €397,454 | €231,954 | -€165,500 | -41.6% |
| Stocks and contracts in progress | 3 | €96,572 | €45,254 | -€51,318 | -53.1% |
| Stocks | 30/36 | €3,584 | €1,993 | -€1,591 | -44.4% |
| Contracts in progress | 37 | €92,988 | €43,261 | -€49,727 | -53.5% |
| Amounts receivable within one year | 40/41 | €2,040 | €491 | -€1,549 | -75.9% |
| Trade receivables | 40 | €594 | - | -€594 | |
| Other amounts receivable | 41 | €1,446 | €491 | -€955 | -66.0% |
| Cash at bank and in hand | 54/58 | €289,696 | €174,111 | -€115,585 | -39.9% |
| Deferred charges and accrued income | 490/1 | €9,147 | €12,098 | +€2,951 | +32.3% |
| Total equity and liabilities | 10/49 | €446,548 | €715,422 | +€268,874 | +60.2% |
| Equity | 10/15 | €169,832 | €253,492 | +€83,659 | +49.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €167,832 | €251,492 | +€83,659 | +49.8% |
| Distributable reserves | 133 | €167,832 | €251,492 | +€83,659 | +49.8% |
| Amounts payable | 17/49 | €276,716 | €461,931 | +€185,215 | +66.9% |
| Amounts payable after more than one year | 17 | €39,937 | €207,037 | +€167,100 | +418.4% |
| Financial debts | 170/4 | €39,937 | €207,037 | +€167,100 | +418.4% |
| Amounts payable within one year | 42/48 | €236,687 | €254,894 | +€18,207 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €11,856 | €69,907 | +€58,051 | +489.6% |
| Trade debts | 44 | €77,062 | €135,237 | +€58,175 | +75.5% |
| Suppliers | 440/4 | €77,062 | €135,237 | +€58,175 | +75.5% |
| Advances received on contracts in progress | 46 | €110,329 | - | -€110,329 | |
| Taxes, remuneration and social security | 45 | €37,439 | €49,749 | +€12,310 | +32.9% |
| Taxes | 450/3 | €23,830 | €26,129 | +€2,299 | +9.6% |
| Remuneration and social security | 454/9 | €13,609 | €23,621 | +€10,011 | +73.6% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €92 | - | -€92 | |
| Remuneration, social security and pensions | 62 | €102,009 | €154,640 | +€52,631 | +51.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,320 | €47,331 | +€38,011 | +407.8% |
| Other operating charges | 640/8 | €3,145 | €4,984 | +€1,839 | +58.5% |
| Non-recurring operating charges | 66A | €674 | - | -€674 | |
| Gross operating margin | 9900 | €229,793 | €323,374 | +€93,581 | +40.7% |
| Operating profit (loss) | 9901 | €114,645 | €116,419 | +€1,774 | +1.5% |
| Financial income | 75/76B | €1,128 | €1,974 | +€846 | +75.0% |
| Recurring financial income | 75 | €1,128 | €1,974 | +€846 | +75.0% |
| Financial charges | 65/66B | €3,952 | €11,391 | +€7,439 | +188.2% |
| Recurring financial charges | 65 | €3,952 | €11,391 | +€7,439 | +188.2% |
| Profit (loss) for the period before taxes | 9903 | €111,821 | €107,003 | -€4,818 | -4.3% |
| Income taxes | 67/77 | €24,153 | €23,344 | -€809 | -3.4% |
| Profit (loss) for the period | 9904 | €87,667 | €83,659 | -€4,008 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €87,667 | €83,659 | -€4,008 | -4.6% |
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 7 October 2026 via checked.be.