GILLIAERT: 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.
GILLIAERT
Largest movements
- Tangible fixed assets +€145,790
up €145,790 (+43.2%), from €337,116 to €482,906
of which Land and buildings: +€229,151
- Cash -€81,539
down €81,539 (-59.0%), from €138,152 to €56,613
mainly Investment in fixed assets (net) (-€245,623) and Trade debts (-€234,505)
- Receivables within one year +€25,565
up €25,565 (+93.7%), from €27,281 to €52,846
of which Trade receivables: +€14,141
- Debts after one year +€250,645
up €250,645 (+200%), from €125,404 to €376,048
- Trade debts -€234,505
down €234,505 (-97.3%), from €241,127 to €6,622
- Current portion of long-term debt +€55,259
new in 2025: €55,259
- Reserves +€37,133
up €37,133 (+183%), from €20,266 to €57,399
- Short-term financial debts -€18,485
no longer reported in 2025 (was €18,485)
- Turnover -€165,234
no longer reported in 2025 (was €165,234)
- Purchases and services -€85,184
no longer reported in 2025 (was €85,184)
- Gross operating margin +€84,836
up €84,836 (+106%), from €80,050 to €164,886
- Depreciation +€52,525
up €52,525 (+111%), from €47,308 to €99,833
- Financial charges +€10,572
up €10,572 (+298%), from €3,544 to €14,116
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 | €506,834 | €594,779 | +€87,945 | +17.4% |
| Fixed assets | 21/28 | €339,366 | €485,156 | +€145,790 | +43.0% |
| Tangible fixed assets | 22/27 | €337,116 | €482,906 | +€145,790 | +43.2% |
| Land and buildings | 22 | - | €229,151 | +€229,151 | |
| Plant, machinery and equipment | 23 | €5,363 | €15,327 | +€9,964 | +186% |
| Furniture and vehicles | 24 | €331,753 | €238,428 | -€93,325 | -28.1% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €167,468 | €109,623 | -€57,845 | -34.5% |
| Amounts receivable within one year | 40/41 | €27,281 | €52,846 | +€25,565 | +93.7% |
| Trade receivables | 40 | €22,052 | €36,193 | +€14,141 | +64.1% |
| Other amounts receivable | 41 | €5,230 | €16,653 | +€11,424 | +218% |
| Cash at bank and in hand | 54/58 | €138,152 | €56,613 | -€81,539 | -59.0% |
| Deferred charges and accrued income | 490/1 | €2,035 | €164 | -€1,871 | -91.9% |
| Total equity and liabilities | 10/49 | €506,834 | €594,779 | +€87,945 | +17.4% |
| Equity | 10/15 | €40,266 | €77,399 | +€37,133 | +92.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €20,266 | €57,399 | +€37,133 | +183% |
| Distributable reserves | 133 | €20,266 | €57,399 | +€37,133 | +183% |
| Amounts payable | 17/49 | €466,568 | €517,380 | +€50,812 | +10.9% |
| Amounts payable after more than one year | 17 | €125,404 | €376,048 | +€250,645 | +200% |
| Financial debts | 170/4 | €125,404 | €376,048 | +€250,645 | +200% |
| Amounts payable within one year | 42/48 | €341,164 | €141,332 | -€199,832 | -58.6% |
| Current portion of amounts payable after more than one year | 42 | - | €55,259 | +€55,259 | |
| Financial debts | 43 | €18,485 | - | -€18,485 | |
| Credit institutions | 430/8 | €18,485 | - | -€18,485 | |
| Trade debts | 44 | €241,127 | €6,622 | -€234,505 | -97.3% |
| Suppliers | 440/4 | €241,127 | €6,622 | -€234,505 | -97.3% |
| Taxes, remuneration and social security | 45 | €8,662 | €5,419 | -€3,243 | -37.4% |
| Taxes | 450/3 | €8,662 | €5,419 | -€3,243 | -37.4% |
| Other amounts payable | 47/48 | €72,889 | €74,032 | +€1,143 | +1.6% |
| Turnover | 70 | €165,234 | - | -€165,234 | |
| Goods, raw materials, services and sundry goods | 60/61 | €85,184 | - | -€85,184 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,308 | €99,833 | +€52,525 | +111% |
| Other operating charges | 640/8 | €1,261 | €2,602 | +€1,341 | +106% |
| Gross operating margin | 9900 | €80,050 | €164,886 | +€84,836 | +106% |
| Operating profit (loss) | 9901 | €31,482 | €62,451 | +€30,970 | +98.4% |
| Financial charges | 65/66B | €3,544 | €14,116 | +€10,572 | +298% |
| Recurring financial charges | 65 | €3,544 | €14,116 | +€10,572 | +298% |
| Profit (loss) for the period before taxes | 9903 | €27,938 | €48,335 | +€20,397 | +73.0% |
| Income taxes | 67/77 | €7,672 | €11,203 | +€3,531 | +46.0% |
| Profit (loss) for the period | 9904 | €20,266 | €37,133 | +€16,866 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,266 | €37,133 | +€16,866 | +83.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.