GILLES VENTILATION: 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.
What changed
GILLES VENTILATION
NACE 27.510, Manufacture of electrical equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€59,863
2024 · -€7,372+€67,236
Equity
€318,495
2024 · €320,908-€2,412
Cash
€159,580
2024 · €48,040+€111,541
Balance sheet total
€698,274
2024 · €608,076+€90,197
Largest movements
Assets
- Cash +€111,541
up €111,541 (+232%), from €48,040 to €159,580
mainly Other debts (+€61,850) and Net result for the year (+€59,863)
- Receivables within one year -€31,681
down €31,681 (-38.8%), from €81,568 to €49,886
of which Trade receivables: -€24,217
- Tangible fixed assets +€9,844
up €9,844 (+2.1%), from €468,130 to €477,975
of which Furniture and vehicles: +€30,125
Equity and liabilities
- Other debts +€61,850
up €61,850 (+11,709%), from €528 to €62,378
- Trade debts +€51,648
up €51,648 (+71.3%), from €72,417 to €124,065
- Debts after one year -€32,704
down €32,704 (-19.2%), from €170,474 to €137,770
- Tax, wage and social debts +€7,058
up €7,058 (+150%), from €4,719 to €11,778
of which Taxes: +€6,946
Income statement
- Gross operating margin +€81,557
up €81,557 (+132%), from €62,011 to €143,569
- Taxes +€13,170
up €13,170 (+1,014%), from €1,299 to €14,470
- Depreciation -€2,348
down €2,348 (-8.8%), from €26,770 to €24,422
- Other operating charges -€1,950
down €1,950 (-19.9%), from €9,798 to €7,847
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.
Result 2024
-€7,372
Gross operating margin
+€81,557
Staff costs
+€1,159
Depreciation
+€2,348
Write-downs
-€810
Other operating charges
+€1,950
Financial income
-€1,402
Financial charges
+€1,325
Taxes
-€13,170
Deferred taxes and other
-€5,722
Result 2025
€59,863
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€241,473
Investment
-€34,267
Financing
-€95,666
Cash 2024
€48,040
From operations (derived)
+€241,473
Net result for the year
+€59,863
Depreciation
+€24,422
Stocks and contracts
+€660
Receivables within one year
+€31,681
Deferred charges and accrued income
-€1,154
Provisions
+€5,722
Trade debts
+€51,648
Tax, wage and social debts
+€7,058
Other debts
+€61,850
Accrued charges and deferred income
-€278
Investment (derived)
-€34,267
Investment in fixed assets (net)
-€34,267
Financing
-€95,666
Debts after one year
-€32,704
Current portion of long-term debt
-€674
Short-term financial debts
-€12
Contributions, distributions and other
-€62,275
Cash 2025
€159,580
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €608,076 | €698,274 | +€90,197 | +14.8% |
| Fixed assets | 21/28 | €468,130 | €477,975 | +€9,844 | +2.1% |
| Tangible fixed assets | 22/27 | €468,130 | €477,975 | +€9,844 | +2.1% |
| Land and buildings | 22 | €402,571 | €382,643 | -€19,929 | -5.0% |
| Plant, machinery and equipment | 23 | €721 | €369 | -€352 | -48.8% |
| Furniture and vehicles | 24 | €64,838 | €94,963 | +€30,125 | +46.5% |
| Current assets | 29/58 | €139,946 | €220,299 | +€80,353 | +57.4% |
| Stocks and contracts in progress | 3 | €8,154 | €7,494 | -€660 | -8.1% |
| Stocks | 30/36 | €8,154 | €7,494 | -€660 | -8.1% |
| Amounts receivable within one year | 40/41 | €81,568 | €49,886 | -€31,681 | -38.8% |
| Trade receivables | 40 | €57,184 | €32,967 | -€24,217 | -42.3% |
| Other amounts receivable | 41 | €24,384 | €16,919 | -€7,464 | -30.6% |
| Cash at bank and in hand | 54/58 | €48,040 | €159,580 | +€111,541 | +232% |
| Deferred charges and accrued income | 490/1 | €2,185 | €3,339 | +€1,154 | +52.8% |
| Total equity and liabilities | 10/49 | €608,076 | €698,274 | +€90,197 | +14.8% |
| Equity | 10/15 | €320,908 | €318,495 | -€2,412 | -0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €130,908 | €128,394 | -€2,515 | -1.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €17,165 | +€17,165 | |
| Distributable reserves | 133 | €129,048 | €109,369 | -€19,680 | -15.2% |
| Profit (loss) carried forward | 14 | €148,418 | €148,418 | = | 0.0% |
| Investment grants | 15 | €22,981 | €23,083 | +€103 | +0.4% |
| Provisions and deferred taxes | 16 | - | €5,722 | +€5,722 | |
| Deferred taxes | 168 | - | €5,722 | +€5,722 | |
| Amounts payable | 17/49 | €287,169 | €374,057 | +€86,888 | +30.3% |
| Amounts payable after more than one year | 17 | €170,474 | €137,770 | -€32,704 | -19.2% |
| Financial debts | 170/4 | €170,474 | €137,770 | -€32,704 | -19.2% |
| Amounts payable within one year | 42/48 | €113,490 | €233,360 | +€119,869 | +106% |
| Current portion of amounts payable after more than one year | 42 | €33,378 | €32,704 | -€674 | -2.0% |
| Financial debts | 43 | €2,447 | €2,435 | -€12 | -0.5% |
| Credit institutions | 430/8 | €2,447 | €2,435 | -€12 | -0.5% |
| Trade debts | 44 | €72,417 | €124,065 | +€51,648 | +71.3% |
| Suppliers | 440/4 | €72,417 | €124,065 | +€51,648 | +71.3% |
| Taxes, remuneration and social security | 45 | €4,719 | €11,778 | +€7,058 | +150% |
| Taxes | 450/3 | €524 | €7,470 | +€6,946 | +1,325% |
| Remuneration and social security | 454/9 | €4,195 | €4,308 | +€113 | +2.7% |
| Other amounts payable | 47/48 | €528 | €62,378 | +€61,850 | +11,709% |
| Accrued charges and deferred income | 492/3 | €3,205 | €2,927 | -€278 | -8.7% |
| Remuneration, social security and pensions | 62 | €24,491 | €23,331 | -€1,159 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,770 | €24,422 | -€2,348 | -8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€810 | - | +€810 | |
| Other operating charges | 640/8 | €9,798 | €7,847 | -€1,950 | -19.9% |
| Gross operating margin | 9900 | €62,011 | €143,569 | +€81,557 | +132% |
| Operating profit (loss) | 9901 | €1,763 | €87,968 | +€86,205 | +4,890% |
| Financial income | 75/76B | €1,402 | - | -€1,402 | |
| Recurring financial income | 75 | €1,402 | - | -€1,402 | |
| Financial charges | 65/66B | €9,238 | €7,913 | -€1,325 | -14.3% |
| Recurring financial charges | 65 | €9,238 | €7,913 | -€1,325 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,073 | €80,055 | +€86,128 | |
| Transfer from deferred taxes | 780 | - | €63 | +€63 | |
| Transfer to deferred taxes | 680 | - | €5,785 | +€5,785 | |
| Income taxes | 67/77 | €1,299 | €14,470 | +€13,170 | +1,014% |
| Profit (loss) for the period | 9904 | -€7,372 | €59,863 | +€67,236 | |
| Transfer from tax-exempt reserves | 789 | - | €190 | +€190 | |
| Transfer to tax-exempt reserves | 689 | - | €17,355 | +€17,355 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,372 | €42,698 | +€50,071 |
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 29 October 2026 via checked.be.