GILDACE: what changed
Two financial 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.
GILDACE
Largest movements
- Receivables within one year -€598,575
down €598,575 (-93.4%), from €641,173 to €42,597
of which Trade receivables: -€366,395
- Cash -€171,873
down €171,873 (-62.1%), from €276,609 to €104,736
mainly Net result for the year (-€1.1m) and Investment in fixed assets (net) (-€84,439)
- Profit (loss) carried forward -€1.0m
down €1.0m, from €273,292 to -€763,269
- Debts after one year +€315,821
up €315,821 (+41.1%), from €768,113 to €1.1m
of which Financial debts: +€315,821
- Current portion of long-term debt +€45,426
up €45,426 (+63.3%), from €71,789 to €117,215
- Other debts -€43,596
down €43,596 (-7.0%), from €625,198 to €581,602
- Reserves -€40,299
down €40,299 (-56.7%), from €71,054 to €30,755
of which Tax-exempt reserves: -€40,299
- Write-downs +€1.0m
new in 2025: €1.0m
- Gross operating margin +€56,288
up €56,288 (+54.7%), from €102,912 to €159,200
- Purchases and services -€44,852
down €44,852 (-42.2%), from €106,316 to €61,464
- Other operating charges +€41,646
up €41,646 (+129%), from €32,227 to €73,873
- Financial charges +€25,842
up €25,842 (+128%), from €20,128 to €45,970
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.
Derived cash bridge
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 | €1,996,597 | €1,236,793 | -€759,804 | -38.1% |
| Fixed assets | 21/28 | €1,075,676 | €1,087,281 | +€11,606 | +1.1% |
| Tangible fixed assets | 22/27 | €1,075,676 | €1,087,281 | +€11,606 | +1.1% |
| Land and buildings | 22 | €1,059,445 | €1,076,361 | +€16,915 | +1.6% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €16,230 | €10,921 | -€5,310 | -32.7% |
| Current assets | 29/58 | €920,921 | €149,512 | -€771,410 | -83.8% |
| Amounts receivable within one year | 40/41 | €641,173 | €42,597 | -€598,575 | -93.4% |
| Trade receivables | 40 | €408,992 | €42,597 | -€366,395 | -89.6% |
| Other amounts receivable | 41 | €232,181 | €0 | -€232,181 | -100% |
| Cash at bank and in hand | 54/58 | €276,609 | €104,736 | -€171,873 | -62.1% |
| Deferred charges and accrued income | 490/1 | €3,139 | €2,178 | -€961 | -30.6% |
| Total equity and liabilities | 10/49 | €1,996,597 | €1,236,793 | -€759,804 | -38.1% |
| Equity | 10/15 | €406,345 | -€670,514 | -€1.1m | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €71,054 | €30,755 | -€40,299 | -56.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €64,854 | €24,555 | -€40,299 | -62.1% |
| Profit (loss) carried forward | 14 | €273,292 | -€763,269 | -€1.0m | |
| Provisions and deferred taxes | 16 | €13,486 | €13,057 | -€429 | -3.2% |
| Deferred taxes | 168 | €13,486 | €13,057 | -€429 | -3.2% |
| Amounts payable | 17/49 | €1,576,765 | €1,894,250 | +€317,485 | +20.1% |
| Amounts payable after more than one year | 17 | €768,113 | €1,083,935 | +€315,821 | +41.1% |
| Financial debts | 170/4 | €727,211 | €1,043,032 | +€315,821 | +43.4% |
| Other amounts payable | 178/9 | €40,902 | €40,902 | = | 0.0% |
| Amounts payable within one year | 42/48 | €808,363 | €808,589 | +€226 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €71,789 | €117,215 | +€45,426 | +63.3% |
| Trade debts | 44 | €110,370 | €75,611 | -€34,759 | -31.5% |
| Suppliers | 440/4 | €110,370 | €75,611 | -€34,759 | -31.5% |
| Taxes, remuneration and social security | 45 | €1,006 | €34,161 | +€33,155 | +3,295% |
| Taxes | 450/3 | €1,006 | €34,161 | +€33,155 | +3,295% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €625,198 | €581,602 | -€43,596 | -7.0% |
| Accrued charges and deferred income | 492/3 | €288 | €1,726 | +€1,438 | +499% |
| Turnover | 70 | €165,410 | €177,918 | +€12,508 | +7.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €106,316 | €61,464 | -€44,852 | -42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,931 | €72,833 | +€16,902 | +30.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,027,515 | +€1.0m | |
| Other operating charges | 640/8 | €32,227 | €73,873 | +€41,646 | +129% |
| Gross operating margin | 9900 | €102,912 | €159,200 | +€56,288 | +54.7% |
| Operating profit (loss) | 9901 | €14,754 | -€1,015,021 | -€1.0m | |
| Financial income | 75/76B | €233 | €2,056 | +€1,823 | +782% |
| Recurring financial income | 75 | €233 | €2,056 | +€1,823 | +782% |
| Financial charges | 65/66B | €20,128 | €45,970 | +€25,842 | +128% |
| Recurring financial charges | 65 | €20,128 | €45,970 | +€25,842 | +128% |
| Profit (loss) for the period before taxes | 9903 | -€5,140 | -€1,058,935 | -€1.1m | -20,501% |
| Transfer from deferred taxes | 780 | - | €429 | +€429 | |
| Income taxes | 67/77 | - | €18,354 | +€18,354 | |
| Profit (loss) for the period | 9904 | -€5,140 | -€1,076,860 | -€1.1m | -20,850% |
| Transfer from tax-exempt reserves | 789 | - | €40,299 | +€40,299 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,140 | -€1,036,561 | -€1.0m | -20,066% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.