GILGO: 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.
GILGO
Largest movements
- Cash -€11,563
down €11,563 (-52.3%), from €22,095 to €10,532
mainly Other debts (-€36,000) and Debts after one year (-€5,788)
- Receivables within one year -€7,146
down €7,146 (-13.5%), from €52,826 to €45,680
of which Trade receivables: -€6,010
- Tangible fixed assets -€3,068
down €3,068 (-8.4%), from €36,645 to €33,577
of which Land and buildings: -€3,068
- Other debts -€36,000
down €36,000 (-69.3%), from €51,981 to €15,981
- Profit (loss) carried forward +€14,501
up €14,501 (+81.4%), from €17,823 to €32,324
- Debts after one year -€5,788
down €5,788 (-17.5%), from €33,047 to €27,260
of which Financial debts: -€5,788
- Tax, wage and social debts +€4,665
new in 2025: €4,665
- Trade debts +€2,771
up €2,771, from €0 to €2,771
- Taxes +€4,665
new in 2025: €4,665
- Financial income -€1,338
down €1,338 (-100.0%), from €1,338 to €0
- Gross operating margin -€651
down €651 (-2.6%), from €24,968 to €24,317
- Other operating charges -€590
down €590 (-42.5%), from €1,387 to €797
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 | €111,566 | €89,788 | -€21,777 | -19.5% |
| Fixed assets | 21/28 | €36,645 | €33,577 | -€3,068 | -8.4% |
| Tangible fixed assets | 22/27 | €36,645 | €33,577 | -€3,068 | -8.4% |
| Land and buildings | 22 | €36,645 | €33,577 | -€3,068 | -8.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €74,921 | €56,212 | -€18,709 | -25.0% |
| Amounts receivable within one year | 40/41 | €52,826 | €45,680 | -€7,146 | -13.5% |
| Trade receivables | 40 | €51,690 | €45,680 | -€6,010 | -11.6% |
| Other amounts receivable | 41 | €1,136 | €0 | -€1,136 | -100.0% |
| Cash at bank and in hand | 54/58 | €22,095 | €10,532 | -€11,563 | -52.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €111,566 | €89,788 | -€21,777 | -19.5% |
| Equity | 10/15 | €18,823 | €33,324 | +€14,501 | +77.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,823 | €32,324 | +€14,501 | +81.4% |
| Amounts payable | 17/49 | €92,743 | €56,465 | -€36,278 | -39.1% |
| Amounts payable after more than one year | 17 | €33,047 | €27,260 | -€5,788 | -17.5% |
| Financial debts | 170/4 | €32,897 | €27,110 | -€5,788 | -17.6% |
| Other amounts payable | 178/9 | €150 | €150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €59,696 | €29,205 | -€30,491 | -51.1% |
| Current portion of amounts payable after more than one year | 42 | €7,714 | €5,788 | -€1,927 | -25.0% |
| Trade debts | 44 | €0 | €2,771 | +€2,771 | |
| Suppliers | 440/4 | €0 | €2,771 | +€2,771 | |
| Taxes, remuneration and social security | 45 | - | €4,665 | +€4,665 | |
| Taxes | 450/3 | - | €4,665 | +€4,665 | |
| Other amounts payable | 47/48 | €51,981 | €15,981 | -€36,000 | -69.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,068 | €3,068 | = | 0.0% |
| Other operating charges | 640/8 | €1,387 | €797 | -€590 | -42.5% |
| Gross operating margin | 9900 | €24,968 | €24,317 | -€651 | -2.6% |
| Operating profit (loss) | 9901 | €20,513 | €20,451 | -€61 | -0.3% |
| Financial income | 75/76B | €1,338 | €0 | -€1,338 | -100.0% |
| Recurring financial income | 75 | €1,338 | €0 | -€1,338 | -100.0% |
| Financial charges | 65/66B | €1,481 | €1,285 | -€196 | -13.2% |
| Recurring financial charges | 65 | €1,481 | €1,285 | -€196 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €20,370 | €19,166 | -€1,204 | -5.9% |
| Income taxes | 67/77 | - | €4,665 | +€4,665 | |
| Profit (loss) for the period | 9904 | €20,370 | €14,501 | -€5,869 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,370 | €14,501 | -€5,869 | -28.8% |
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 9 October 2026 via checked.be.