GIL: 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.
GIL
Largest movements
- Tangible fixed assets +€251,545
up €251,545 (+10.5%), from €2.4m to €2.6m
of which Land and buildings: +€260,886
- Receivables within one year +€59,426
up €59,426 (+1128.6%), from €5,266 to €64,692
of which Trade receivables: +€59,426
- Debts after one year +€194,190
up €194,190 (+12.0%), from €1.6m to €1.8m
of which Other amounts payable: +€300,000
- Other debts +€99,253
up €99,253 (+41.2%), from €241,112 to €340,365
- Reserves -€40,777
down €40,777 (-8.8%), from €465,557 to €424,780
of which Distributable reserves: -€33,500
- Accrued charges and deferred income +€31,215
new in 2025: €31,215
- Other operating charges -€35,608
down €35,608 (-61.4%), from €57,981 to €22,373
- Gross operating margin +€27,342
up €27,342 (+12.3%), from €222,292 to €249,635
- Financial charges +€13,286
up €13,286 (+18.4%), from €72,371 to €85,658
- Depreciation +€11,694
up €11,694 (+13.2%), from €88,498 to €100,192
- Taxes +€10,997
up €10,997 (+265.7%), from €4,139 to €15,136
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 | €2,463,903 | €2,749,484 | +€285,581 | +11.6% |
| Fixed assets | 21/28 | €2,386,774 | €2,638,319 | +€251,545 | +10.5% |
| Tangible fixed assets | 22/27 | €2,386,774 | €2,638,319 | +€251,545 | +10.5% |
| Land and buildings | 22 | €2,266,052 | €2,526,938 | +€260,886 | +11.5% |
| Plant, machinery and equipment | 23 | €2,036 | €1,461 | -€575 | -28.2% |
| Furniture and vehicles | 24 | €4,158 | €2,388 | -€1,771 | -42.6% |
| Other tangible fixed assets | 26 | €114,529 | €107,533 | -€6,996 | -6.1% |
| Current assets | 29/58 | €77,129 | €111,165 | +€34,036 | +44.1% |
| Amounts receivable within one year | 40/41 | €5,266 | €64,692 | +€59,426 | +1128.6% |
| Trade receivables | 40 | €2,266 | €61,692 | +€59,426 | +2623.1% |
| Other amounts receivable | 41 | €3,000 | €3,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €56,056 | €33,537 | -€22,519 | -40.2% |
| Deferred charges and accrued income | 490/1 | €15,807 | €12,936 | -€2,872 | -18.2% |
| Total equity and liabilities | 10/49 | €2,463,903 | €2,749,484 | +€285,581 | +11.6% |
| Equity | 10/15 | €439,099 | €398,661 | -€40,438 | -9.2% |
| Contributions | 10/11 | €62,063 | €62,063 | = | 0.0% |
| Capital | 10 | €62,063 | €62,063 | = | 0.0% |
| Issued capital | 100 | €62,063 | €62,063 | = | 0.0% |
| Reserves | 13 | €465,557 | €424,780 | -€40,777 | -8.8% |
| Non-distributable reserves | 130/1 | €6,206 | €6,206 | = | 0.0% |
| Legal reserve | 130 | €6,206 | €6,206 | = | 0.0% |
| Tax-exempt reserves | 132 | €108,877 | €101,599 | -€7,277 | -6.7% |
| Distributable reserves | 133 | €350,475 | €316,975 | -€33,500 | -9.6% |
| Profit (loss) carried forward | 14 | -€88,521 | -€88,182 | +€339 | +0.4% |
| Provisions and deferred taxes | 16 | €27,313 | €25,472 | -€1,841 | -6.7% |
| Deferred taxes | 168 | €27,313 | €25,472 | -€1,841 | -6.7% |
| Amounts payable | 17/49 | €1,997,492 | €2,325,352 | +€327,860 | +16.4% |
| Amounts payable after more than one year | 17 | €1,619,338 | €1,813,528 | +€194,190 | +12.0% |
| Financial debts | 170/4 | €1,184,338 | €1,078,528 | -€105,810 | -8.9% |
| Other amounts payable | 178/9 | €435,000 | €735,000 | +€300,000 | +69.0% |
| Amounts payable within one year | 42/48 | €378,154 | €480,610 | +€102,456 | +27.1% |
| Current portion of amounts payable after more than one year | 42 | €101,309 | €103,113 | +€1,804 | +1.8% |
| Trade debts | 44 | €3,679 | €5,113 | +€1,433 | +39.0% |
| Suppliers | 440/4 | €3,679 | €5,113 | +€1,433 | +39.0% |
| Taxes, remuneration and social security | 45 | €32,054 | €32,019 | -€35 | -0.1% |
| Taxes | 450/3 | €32,054 | €32,019 | -€35 | -0.1% |
| Other amounts payable | 47/48 | €241,112 | €340,365 | +€99,253 | +41.2% |
| Accrued charges and deferred income | 492/3 | - | €31,215 | +€31,215 | |
| Non-recurring operating income | 76A | €6,000 | - | -€6,000 | |
| Remuneration, social security and pensions | 62 | - | €55 | +€55 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,498 | €100,192 | +€11,694 | +13.2% |
| Other operating charges | 640/8 | €57,981 | €22,373 | -€35,608 | -61.4% |
| Gross operating margin | 9900 | €222,292 | €249,635 | +€27,342 | +12.3% |
| Operating profit (loss) | 9901 | €75,813 | €127,015 | +€51,202 | +67.5% |
| Financial charges | 65/66B | €72,371 | €85,658 | +€13,286 | +18.4% |
| Recurring financial charges | 65 | €72,371 | €85,658 | +€13,286 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €3,441 | €41,357 | +€37,916 | +1101.7% |
| Transfer from deferred taxes | 780 | €1,771 | €1,841 | +€70 | +4.0% |
| Income taxes | 67/77 | €4,139 | €15,136 | +€10,997 | +265.7% |
| Profit (loss) for the period | 9904 | €1,073 | €28,062 | +€26,989 | +2515.2% |
| Transfer from tax-exempt reserves | 789 | €6,996 | €7,277 | +€282 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,069 | €35,339 | +€27,271 | +338.0% |
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 1 October 2026 via checked.be.