GILL VOEDING: 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.
GILL VOEDING
Largest movements
- Cash +€78,446
up €78,446 (+31.7%), from €247,707 to €326,152
mainly Net result for the year (+€87,644) and Depreciation (+€21,813)
- Profit (loss) carried forward +€87,644
up €87,644 (+20.5%), from €427,269 to €514,912
- Trade debts +€19,963
up €19,963 (+46.9%), from €42,598 to €62,561
- Debts after one year -€15,504
down €15,504 (-9.8%), from €158,869 to €143,365
- Other debts -€9,000
no longer reported in 2025 (was €9,000)
- Gross operating margin +€8,652
up €8,652 (+6.3%), from €136,466 to €145,118
- Taxes -€1,705
down €1,705 (-5.8%), from €29,205 to €27,500
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 | €683,061 | €767,688 | +€84,628 | +12.4% |
| Fixed assets | 21/28 | €375,990 | €369,556 | -€6,433 | -1.7% |
| Tangible fixed assets | 22/27 | €371,968 | €365,105 | -€6,863 | -1.8% |
| Land and buildings | 22 | €361,568 | €356,615 | -€4,953 | -1.4% |
| Plant, machinery and equipment | 23 | €10,401 | €8,490 | -€1,910 | -18.4% |
| Financial fixed assets | 28 | €4,021 | €4,452 | +€430 | +10.7% |
| Current assets | 29/58 | €307,071 | €398,132 | +€91,061 | +29.7% |
| Stocks and contracts in progress | 3 | €36,048 | €42,169 | +€6,121 | +17.0% |
| Stocks | 30/36 | €36,048 | €42,169 | +€6,121 | +17.0% |
| Amounts receivable within one year | 40/41 | €20,006 | €26,459 | +€6,453 | +32.3% |
| Other amounts receivable | 41 | €20,006 | €26,459 | +€6,453 | +32.3% |
| Cash at bank and in hand | 54/58 | €247,707 | €326,152 | +€78,446 | +31.7% |
| Deferred charges and accrued income | 490/1 | €3,310 | €3,352 | +€42 | +1.3% |
| Total equity and liabilities | 10/49 | €683,061 | €767,688 | +€84,628 | +12.4% |
| Equity | 10/15 | €447,729 | €535,372 | +€87,644 | +19.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €427,269 | €514,912 | +€87,644 | +20.5% |
| Amounts payable | 17/49 | €235,332 | €232,316 | -€3,016 | -1.3% |
| Amounts payable after more than one year | 17 | €158,869 | €143,365 | -€15,504 | -9.8% |
| Financial debts | 170/4 | €158,869 | €143,365 | -€15,504 | -9.8% |
| Amounts payable within one year | 42/48 | €76,463 | €88,952 | +€12,488 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €15,417 | €15,720 | +€302 | +2.0% |
| Trade debts | 44 | €42,598 | €62,561 | +€19,963 | +46.9% |
| Suppliers | 440/4 | €42,598 | €62,561 | +€19,963 | +46.9% |
| Taxes, remuneration and social security | 45 | €9,448 | €10,671 | +€1,223 | +12.9% |
| Taxes | 450/3 | €5,248 | €6,471 | +€1,223 | +23.3% |
| Remuneration and social security | 454/9 | €4,200 | €4,200 | = | 0.0% |
| Other amounts payable | 47/48 | €9,000 | - | -€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,549 | €21,813 | +€264 | +1.2% |
| Other operating charges | 640/8 | €4,275 | €4,443 | +€168 | +3.9% |
| Gross operating margin | 9900 | €136,466 | €145,118 | +€8,652 | +6.3% |
| Operating profit (loss) | 9901 | €110,642 | €118,861 | +€8,220 | +7.4% |
| Financial income | 75/76B | €1 | €1 | +€0 | +12.5% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +12.5% |
| Financial charges | 65/66B | €4,074 | €3,719 | -€355 | -8.7% |
| Recurring financial charges | 65 | €4,074 | €3,719 | -€355 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €106,569 | €115,144 | +€8,575 | +8.0% |
| Income taxes | 67/77 | €29,205 | €27,500 | -€1,705 | -5.8% |
| Profit (loss) for the period | 9904 | €77,364 | €87,644 | +€10,280 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €77,364 | €87,644 | +€10,280 | +13.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.