Gilles Daniëls: what changed
Gilles Daniëls
Largest movements
- Cash -€63,527
down €63,527 (-74.3%), from €85,533 to €22,006
mainly Contributions, distributions and other (-€100,000) and Other debts (-€99,071)
- Tangible fixed assets +€21,462
up €21,462 (+21.0%), from €102,098 to €123,560
of which Other tangible fixed assets: +€41,717
- Receivables within one year -€12,271
down €12,271 (-12.7%), from €96,451 to €84,179
of which Trade receivables: -€14,359
- Other debts -€99,071
down €99,071 (-66.6%), from €148,788 to €49,717
- Reserves +€48,234
up €48,234 (+112%), from €43,216 to €91,451
- Debts after one year -€12,021
down €12,021 (-32.9%), from €36,525 to €24,504
- Tax, wage and social debts +€8,893
up €8,893 (+52.2%), from €17,040 to €25,933
- Accrued charges and deferred income -€3,130
down €3,130 (-23.2%), from €13,483 to €10,353
- Gross operating margin +€22,736
up €22,736 (+11.3%), from €202,043 to €224,778
- Taxes +€4,393
up €4,393 (+11.4%), from €38,519 to €42,912
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €289,279 | €233,645 | -€55,634 | -19.2% |
| Fixed assets | 21/28 | €102,098 | €123,560 | +€21,462 | +21.0% |
| Tangible fixed assets | 22/27 | €102,098 | €123,560 | +€21,462 | +21.0% |
| Plant, machinery and equipment | 23 | €6,034 | €5,245 | -€790 | -13.1% |
| Furniture and vehicles | 24 | €77,687 | €58,221 | -€19,465 | -25.1% |
| Other tangible fixed assets | 26 | €18,376 | €60,094 | +€41,717 | +227% |
| Current assets | 29/58 | €187,181 | €110,085 | -€77,096 | -41.2% |
| Amounts receivable within one year | 40/41 | €96,451 | €84,179 | -€12,271 | -12.7% |
| Trade receivables | 40 | €87,470 | €73,111 | -€14,359 | -16.4% |
| Other amounts receivable | 41 | €8,981 | €11,068 | +€2,087 | +23.2% |
| Cash at bank and in hand | 54/58 | €85,533 | €22,006 | -€63,527 | -74.3% |
| Deferred charges and accrued income | 490/1 | €5,197 | €3,900 | -€1,297 | -25.0% |
| Total equity and liabilities | 10/49 | €289,279 | €233,645 | -€55,634 | -19.2% |
| Equity | 10/15 | €61,816 | €110,051 | +€48,234 | +78.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €43,216 | €91,451 | +€48,234 | +112% |
| Distributable reserves | 133 | €43,216 | €91,451 | +€48,234 | +112% |
| Amounts payable | 17/49 | €227,463 | €123,594 | -€103,868 | -45.7% |
| Amounts payable after more than one year | 17 | €36,525 | €24,504 | -€12,021 | -32.9% |
| Financial debts | 170/4 | €36,525 | €24,504 | -€12,021 | -32.9% |
| Amounts payable within one year | 42/48 | €177,455 | €88,738 | -€88,717 | -50.0% |
| Current portion of amounts payable after more than one year | 42 | €11,525 | €12,021 | +€496 | +4.3% |
| Trade debts | 44 | €102 | €1,067 | +€965 | +946% |
| Suppliers | 440/4 | €102 | €1,067 | +€965 | +946% |
| Taxes, remuneration and social security | 45 | €17,040 | €25,933 | +€8,893 | +52.2% |
| Taxes | 450/3 | €17,040 | €25,933 | +€8,893 | +52.2% |
| Other amounts payable | 47/48 | €148,788 | €49,717 | -€99,071 | -66.6% |
| Accrued charges and deferred income | 492/3 | €13,483 | €10,353 | -€3,130 | -23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,045 | €30,638 | +€1,593 | +5.5% |
| Other operating charges | 640/8 | €1,179 | €1,110 | -€69 | -5.9% |
| Gross operating margin | 9900 | €202,043 | €224,778 | +€22,736 | +11.3% |
| Operating profit (loss) | 9901 | €171,819 | €193,031 | +€21,212 | +12.3% |
| Financial charges | 65/66B | €2,351 | €1,885 | -€466 | -19.8% |
| Recurring financial charges | 65 | €2,351 | €1,885 | -€466 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €169,468 | €191,146 | +€21,678 | +12.8% |
| Income taxes | 67/77 | €38,519 | €42,912 | +€4,393 | +11.4% |
| Profit (loss) for the period | 9904 | €130,949 | €148,234 | +€17,285 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €130,949 | €148,234 | +€17,285 | +13.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.