GILCOM: 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.
GILCOM
Largest movements
- Cash +€253,658
up €253,658 (+178.5%), from €142,101 to €395,760
mainly Current investments (+€200,000) and Net result for the year (+€44,459)
- Current investments -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Receivables within one year -€13,990
down €13,990 (-57.8%), from €24,200 to €10,210
- Other debts +€21,283
up €21,283 (+197.5%), from €10,774 to €32,057
- Reserves +€17,852
up €17,852 (+5.4%), from €333,489 to €351,341
- Gross operating margin -€114,283
down €114,283 (-63.5%), from €179,885 to €65,602
- Taxes -€35,251
down €35,251 (-65.2%), from €54,053 to €18,802
- Financial income -€2,781
down €2,781 (-55.8%), from €4,979 to €2,199
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 | €380,125 | €418,428 | +€38,303 | +10.1% |
| Fixed assets | 21/28 | €9,575 | €9,376 | -€199 | -2.1% |
| Tangible fixed assets | 22/27 | €9,575 | €9,376 | -€199 | -2.1% |
| Plant, machinery and equipment | 23 | - | €2,031 | +€2,031 | |
| Furniture and vehicles | 24 | €9,575 | €7,345 | -€2,230 | -23.3% |
| Current assets | 29/58 | €370,550 | €409,052 | +€38,502 | +10.4% |
| Amounts receivable within one year | 40/41 | €24,200 | €10,210 | -€13,990 | -57.8% |
| Trade receivables | 40 | €24,200 | €10,210 | -€13,990 | -57.8% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €142,101 | €395,760 | +€253,658 | +178.5% |
| Deferred charges and accrued income | 490/1 | €4,248 | €3,082 | -€1,166 | -27.5% |
| Total equity and liabilities | 10/49 | €380,125 | €418,428 | +€38,303 | +10.1% |
| Equity | 10/15 | €353,489 | €371,341 | +€17,852 | +5.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €333,489 | €351,341 | +€17,852 | +5.4% |
| Distributable reserves | 133 | €333,489 | €351,341 | +€17,852 | +5.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €26,636 | €47,087 | +€20,451 | +76.8% |
| Amounts payable within one year | 42/48 | €25,766 | €47,087 | +€21,322 | +82.8% |
| Trade debts | 44 | €920 | €1,419 | +€499 | +54.2% |
| Suppliers | 440/4 | €920 | €1,419 | +€499 | +54.2% |
| Taxes, remuneration and social security | 45 | €14,071 | €13,611 | -€460 | -3.3% |
| Taxes | 450/3 | €14,071 | €13,611 | -€460 | -3.3% |
| Other amounts payable | 47/48 | €10,774 | €32,057 | +€21,283 | +197.5% |
| Accrued charges and deferred income | 492/3 | €870 | €0 | -€870 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,575 | €2,299 | +€724 | +46.0% |
| Other operating charges | 640/8 | €813 | €895 | +€81 | +10.0% |
| Gross operating margin | 9900 | €179,885 | €65,602 | -€114,283 | -63.5% |
| Operating profit (loss) | 9901 | €177,497 | €62,409 | -€115,088 | -64.8% |
| Financial income | 75/76B | €4,979 | €2,199 | -€2,781 | -55.8% |
| Recurring financial income | 75 | €4,979 | €2,199 | -€2,781 | -55.8% |
| Financial charges | 65/66B | €1,511 | €1,347 | -€164 | -10.8% |
| Recurring financial charges | 65 | €1,511 | €1,347 | -€164 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €180,965 | €63,260 | -€117,705 | -65.0% |
| Income taxes | 67/77 | €54,053 | €18,802 | -€35,251 | -65.2% |
| Profit (loss) for the period | 9904 | €126,912 | €44,459 | -€82,453 | -65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €126,912 | €44,459 | -€82,453 | -65.0% |
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 4 October 2026 via checked.be.