GILLE-FERMA: 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.
GILLE-FERMA
Largest movements
- Stocks and contracts +€76,026
up €76,026 (+12.6%), from €604,380 to €680,406
- Receivables within one year -€62,563
down €62,563 (-50.6%), from €123,682 to €61,119
of which Trade receivables: -€32,446
- Tangible fixed assets -€56,909
down €56,909 (-3.9%), from €1.4m to €1.4m
of which Land and buildings: -€32,481
- Short-term financial debts +€220,000
up €220,000 (+122%), from €180,000 to €400,000
- Other debts -€200,244
down €200,244 (-61.1%), from €327,848 to €127,604
- Trade debts +€45,498
up €45,498 (+10.5%), from €432,195 to €477,693
- Debts after one year -€40,516
down €40,516 (-4.4%), from €926,676 to €886,160
- Profit (loss) carried forward -€27,618
down €27,618 (-74.3%), from -€37,167 to -€64,784
- Financial charges +€24,157
up €24,157 (+43.8%), from €55,143 to €79,300
- Staff costs +€10,780
up €10,780 (+3.1%), from €342,506 to €353,286
- Gross operating margin +€8,040
up €8,040 (+1.7%), from €464,374 to €472,415
- Depreciation -€7,952
down €7,952 (-16.6%), from €47,791 to €39,840
- Write-downs +€6,189
up €6,189 (+422%), from €1,465 to €7,654
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 | €2,213,428 | €2,188,207 | -€25,221 | -1.1% |
| Fixed assets | 21/28 | €1,443,168 | €1,386,259 | -€56,909 | -3.9% |
| Tangible fixed assets | 22/27 | €1,443,168 | €1,386,259 | -€56,909 | -3.9% |
| Land and buildings | 22 | €1,407,265 | €1,374,784 | -€32,481 | -2.3% |
| Plant, machinery and equipment | 23 | €7,792 | €6,255 | -€1,537 | -19.7% |
| Furniture and vehicles | 24 | €27,080 | €4,372 | -€22,708 | -83.9% |
| Other tangible fixed assets | 26 | €1,031 | €848 | -€183 | -17.7% |
| Current assets | 29/58 | €770,260 | €801,948 | +€31,688 | +4.1% |
| Stocks and contracts in progress | 3 | €604,380 | €680,406 | +€76,026 | +12.6% |
| Stocks | 30/36 | €604,380 | €680,406 | +€76,026 | +12.6% |
| Amounts receivable within one year | 40/41 | €123,682 | €61,119 | -€62,563 | -50.6% |
| Trade receivables | 40 | €79,083 | €46,636 | -€32,446 | -41.0% |
| Other amounts receivable | 41 | €44,599 | €14,483 | -€30,117 | -67.5% |
| Cash at bank and in hand | 54/58 | €41,303 | €59,528 | +€18,225 | +44.1% |
| Deferred charges and accrued income | 490/1 | €894 | €894 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,213,428 | €2,188,207 | -€25,221 | -1.1% |
| Equity | 10/15 | €241,635 | €214,018 | -€27,618 | -11.4% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Capital | 10 | €115,000 | €115,000 | = | 0.0% |
| Issued capital | 100 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €163,802 | €163,802 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,500 | €11,500 | = | 0.0% |
| Legal reserve | 130 | €11,500 | €11,500 | = | 0.0% |
| Distributable reserves | 133 | €152,302 | €152,302 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,167 | -€64,784 | -€27,618 | -74.3% |
| Amounts payable | 17/49 | €1,971,793 | €1,974,190 | +€2,397 | +0.1% |
| Amounts payable after more than one year | 17 | €926,676 | €886,160 | -€40,516 | -4.4% |
| Financial debts | 170/4 | €926,676 | €886,160 | -€40,516 | -4.4% |
| Amounts payable within one year | 42/48 | €1,026,515 | €1,088,029 | +€61,515 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €39,113 | €40,516 | +€1,403 | +3.6% |
| Financial debts | 43 | €180,000 | €400,000 | +€220,000 | +122% |
| Credit institutions | 430/8 | €180,000 | €400,000 | +€220,000 | +122% |
| Trade debts | 44 | €432,195 | €477,693 | +€45,498 | +10.5% |
| Suppliers | 440/4 | €432,195 | €477,693 | +€45,498 | +10.5% |
| Taxes, remuneration and social security | 45 | €47,359 | €42,217 | -€5,142 | -10.9% |
| Taxes | 450/3 | €7,841 | €4,931 | -€2,910 | -37.1% |
| Remuneration and social security | 454/9 | €39,517 | €37,285 | -€2,232 | -5.6% |
| Other amounts payable | 47/48 | €327,848 | €127,604 | -€200,244 | -61.1% |
| Accrued charges and deferred income | 492/3 | €18,602 | - | -€18,602 | |
| Non-recurring operating income | 76A | - | €65 | +€65 | |
| Remuneration, social security and pensions | 62 | €342,506 | €353,286 | +€10,780 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,791 | €39,840 | -€7,952 | -16.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,465 | €7,654 | +€6,189 | +422% |
| Other operating charges | 640/8 | €10,706 | €11,061 | +€355 | +3.3% |
| Non-recurring operating charges | 66A | - | €9,998 | +€9,998 | |
| Gross operating margin | 9900 | €464,374 | €472,415 | +€8,040 | +1.7% |
| Operating profit (loss) | 9901 | €61,907 | €50,577 | -€11,329 | -18.3% |
| Financial income | 75/76B | €2,086 | €1,657 | -€429 | -20.6% |
| Recurring financial income | 75 | €2,086 | €1,657 | -€429 | -20.6% |
| Financial charges | 65/66B | €55,143 | €79,300 | +€24,157 | +43.8% |
| Recurring financial charges | 65 | €55,143 | €79,300 | +€24,157 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | €8,850 | -€27,066 | -€35,916 | |
| Income taxes | 67/77 | €452 | €552 | +€100 | +22.1% |
| Profit (loss) for the period | 9904 | €8,398 | -€27,618 | -€36,016 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,398 | -€27,618 | -€36,016 |
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 20 October 2026 via checked.be.