GILISE: 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.
GILISE
Largest movements
- Tangible fixed assets -€182,006
down €182,006 (-37.1%), from €490,435 to €308,429
of which Other tangible fixed assets: -€194,833
- Receivables within one year +€16,747
up €16,747 (+32.8%), from €50,987 to €67,734
of which Trade receivables: +€12,240
- Deferred charges and accrued income -€12,597
down €12,597 (-74.2%), from €16,981 to €4,384
- Other debts -€148,481
down €148,481 (-26.3%), from €564,924 to €416,443
- Profit (loss) carried forward -€68,548
down €68,548 (-853%), from -€8,032 to -€76,580
- Debts after one year +€19,477
new in 2025: €19,477
- Current portion of long-term debt +€10,044
new in 2025: €10,044
- Gross operating margin +€52,324
up €52,324 (+179%), from €29,171 to €81,495
- Staff costs +€10,367
up €10,367 (+600%), from €1,727 to €12,094
- Depreciation -€2,561
down €2,561 (-2.8%), from €92,126 to €89,565
- Financial charges +€1,768
up €1,768 (+266%), from €666 to €2,434
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €583,420 | €401,649 | -€181,772 | -31.2% |
| Fixed assets | 21/28 | €490,435 | €308,429 | -€182,006 | -37.1% |
| Tangible fixed assets | 22/27 | €490,435 | €308,429 | -€182,006 | -37.1% |
| Plant, machinery and equipment | 23 | €16,209 | €10,082 | -€6,127 | -37.8% |
| Furniture and vehicles | 24 | €35,212 | €54,166 | +€18,954 | +53.8% |
| Other tangible fixed assets | 26 | €439,014 | €244,181 | -€194,833 | -44.4% |
| Current assets | 29/58 | €92,985 | €93,220 | +€234 | +0.3% |
| Amounts receivable within one year | 40/41 | €50,987 | €67,734 | +€16,747 | +32.8% |
| Trade receivables | 40 | €28,499 | €40,738 | +€12,240 | +42.9% |
| Other amounts receivable | 41 | €22,488 | €26,996 | +€4,508 | +20.0% |
| Cash at bank and in hand | 54/58 | €25,017 | €21,101 | -€3,916 | -15.7% |
| Deferred charges and accrued income | 490/1 | €16,981 | €4,384 | -€12,597 | -74.2% |
| Total equity and liabilities | 10/49 | €583,420 | €401,649 | -€181,772 | -31.2% |
| Equity | 10/15 | -€1,832 | -€70,380 | -€68,548 | -3,742% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| Profit (loss) carried forward | 14 | -€8,032 | -€76,580 | -€68,548 | -853% |
| Amounts payable | 17/49 | €585,252 | €472,029 | -€113,223 | -19.3% |
| Amounts payable after more than one year | 17 | - | €19,477 | +€19,477 | |
| Financial debts | 170/4 | - | €19,477 | +€19,477 | |
| Amounts payable within one year | 42/48 | €585,252 | €452,552 | -€132,701 | -22.7% |
| Current portion of amounts payable after more than one year | 42 | - | €10,044 | +€10,044 | |
| Trade debts | 44 | €19,831 | €21,248 | +€1,418 | +7.1% |
| Suppliers | 440/4 | €19,831 | €21,248 | +€1,418 | +7.1% |
| Taxes, remuneration and social security | 45 | €497 | €4,816 | +€4,319 | +869% |
| Taxes | 450/3 | €249 | €3,948 | +€3,700 | +1,487% |
| Remuneration and social security | 454/9 | €248 | €868 | +€619 | +249% |
| Other amounts payable | 47/48 | €564,924 | €416,443 | -€148,481 | -26.3% |
| Remuneration, social security and pensions | 62 | €1,727 | €12,094 | +€10,367 | +600% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,126 | €89,565 | -€2,561 | -2.8% |
| Other operating charges | 640/8 | €3,689 | €3,593 | -€96 | -2.6% |
| Gross operating margin | 9900 | €29,171 | €81,495 | +€52,324 | +179% |
| Operating profit (loss) | 9901 | -€68,371 | -€23,757 | +€44,613 | +65.3% |
| Financial income | 75/76B | €8 | €118 | +€110 | +1,323% |
| Recurring financial income | 75 | €8 | €118 | +€110 | +1,323% |
| Financial charges | 65/66B | €666 | €2,434 | +€1,768 | +266% |
| Recurring financial charges | 65 | €666 | €2,434 | +€1,768 | +266% |
| Profit (loss) for the period before taxes | 9903 | -€69,028 | -€26,073 | +€42,955 | +62.2% |
| Income taxes | 67/77 | €1,198 | €996 | -€202 | -16.9% |
| Profit (loss) for the period | 9904 | -€70,226 | -€27,070 | +€43,157 | +61.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,226 | -€27,070 | +€43,157 | +61.5% |
Source: filed annual accounts (NBB), financial years ended 31 August 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.