GILLARD GROUP: 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.
GILLARD GROUP
Largest movements
- Financial fixed assets +€10.1m
new in 2025: €10.1m
- Tangible fixed assets +€1.4m
up €1.4m (+5,710%), from €23,857 to €1.4m
of which Land and buildings: +€1.4m
- Cash -€514,279
down €514,279 (-93.2%), from €551,541 to €37,262
mainly Investment in fixed assets (net) (-€11.6m) and Receivables within one year (-€268,606)
- Receivables within one year +€268,606
up €268,606 (+650%), from €41,353 to €309,959
of which Trade receivables: +€249,671
- Stocks and contracts +€230,068
new in 2025: €230,068
- Debts after one year +€10.3m
new in 2025: €10.3m
of which Financial debts: +€5.5m
- Current portion of long-term debt +€1.1m
new in 2025: €1.1m
- Gross operating margin -€111,122
down €111,122 (-28.7%), from €386,973 to €275,851
- Taxes -€60,680
down €60,680 (-63.2%), from €95,968 to €35,288
- Other operating charges +€54,517
up €54,517 (+18,295%), from €298 to €54,815
- Depreciation +€50,061
up €50,061 (+5,107%), from €980 to €51,041
- Financial charges +€18,523
up €18,523 (+6,606%), from €280 to €18,803
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 | €710,785 | €12,106,218 | +€11.4m | +1,603% |
| Fixed assets | 21/28 | €23,857 | €11,525,975 | +€11.5m | +48,214% |
| Tangible fixed assets | 22/27 | €23,857 | €1,385,975 | +€1.4m | +5,710% |
| Land and buildings | 22 | - | €1,364,190 | +€1.4m | |
| Furniture and vehicles | 24 | €19,270 | €13,536 | -€5,734 | -29.8% |
| Other tangible fixed assets | 26 | - | €2,286 | +€2,286 | |
| Assets under construction and advance payments | 27 | €4,587 | €5,963 | +€1,376 | +30.0% |
| Financial fixed assets | 28 | - | €10,140,000 | +€10.1m | |
| Current assets | 29/58 | €686,928 | €580,243 | -€106,686 | -15.5% |
| Amounts receivable after more than one year | 29 | €90,783 | - | -€90,783 | |
| Other amounts receivable | 291 | €90,783 | - | -€90,783 | |
| Stocks and contracts in progress | 3 | - | €230,068 | +€230,068 | |
| Stocks | 30/36 | - | €230,068 | +€230,068 | |
| Amounts receivable within one year | 40/41 | €41,353 | €309,959 | +€268,606 | +650% |
| Trade receivables | 40 | €34,250 | €283,921 | +€249,671 | +729% |
| Other amounts receivable | 41 | €7,103 | €26,038 | +€18,936 | +267% |
| Cash at bank and in hand | 54/58 | €551,541 | €37,262 | -€514,279 | -93.2% |
| Deferred charges and accrued income | 490/1 | €3,251 | €2,953 | -€298 | -9.2% |
| Total equity and liabilities | 10/49 | €710,785 | €12,106,218 | +€11.4m | +1,603% |
| Equity | 10/15 | €43,531 | €144,213 | +€100,681 | +231% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €41,531 | €142,213 | +€100,681 | +242% |
| Distributable reserves | 133 | €41,531 | €142,213 | +€100,681 | +242% |
| Amounts payable | 17/49 | €667,253 | €11,962,005 | +€11.3m | +1,693% |
| Amounts payable after more than one year | 17 | - | €10,346,434 | +€10.3m | |
| Financial debts | 170/4 | - | €5,524,426 | +€5.5m | |
| Other amounts payable | 178/9 | - | €4,822,008 | +€4.8m | |
| Amounts payable within one year | 42/48 | €667,253 | €1,614,055 | +€946,802 | +142% |
| Current portion of amounts payable after more than one year | 42 | - | €1,076,618 | +€1.1m | |
| Trade debts | 44 | €4,723 | €30,790 | +€26,067 | +552% |
| Suppliers | 440/4 | €4,723 | €30,790 | +€26,067 | +552% |
| Taxes, remuneration and social security | 45 | €83,234 | €6,090 | -€77,144 | -92.7% |
| Taxes | 450/3 | €81,271 | €3,539 | -€77,731 | -95.6% |
| Remuneration and social security | 454/9 | €1,963 | €2,551 | +€588 | +29.9% |
| Other amounts payable | 47/48 | €579,296 | €500,556 | -€78,740 | -13.6% |
| Accrued charges and deferred income | 492/3 | - | €1,515 | +€1,515 | |
| Remuneration, social security and pensions | 62 | - | €15,224 | +€15,224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €980 | €51,041 | +€50,061 | +5,107% |
| Other operating charges | 640/8 | €298 | €54,815 | +€54,517 | +18,295% |
| Gross operating margin | 9900 | €386,973 | €275,851 | -€111,122 | -28.7% |
| Operating profit (loss) | 9901 | €385,695 | €154,772 | -€230,923 | -59.9% |
| Financial income | 75/76B | €9,916 | - | -€9,916 | |
| Recurring financial income | 75 | €9,916 | - | -€9,916 | |
| Financial charges | 65/66B | €280 | €18,803 | +€18,523 | +6,606% |
| Recurring financial charges | 65 | €280 | €18,803 | +€18,523 | +6,606% |
| Profit (loss) for the period before taxes | 9903 | €395,330 | €135,969 | -€259,361 | -65.6% |
| Income taxes | 67/77 | €95,968 | €35,288 | -€60,680 | -63.2% |
| Profit (loss) for the period | 9904 | €299,362 | €100,681 | -€198,681 | -66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €299,362 | €100,681 | -€198,681 | -66.4% |
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 15 October 2026 via checked.be.