GILLOT-THIBAUT: 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.
GILLOT-THIBAUT
Largest movements
- Tangible fixed assets -€3,341
down €3,341 (-12.5%), from €26,754 to €23,413
- Cash +€1,273
up €1,273 (+112%), from €1,138 to €2,411
mainly Depreciation (+€4,894) and Tax, wage and social debts (+€2,144)
- Deferred charges and accrued income -€523
down €523 (-28.0%), from €1,868 to €1,345
- Other debts -€3,046
down €3,046 (-17.7%), from €17,216 to €14,170
- Tax, wage and social debts +€2,144
up €2,144 (+66.6%), from €3,220 to €5,364
- Trade debts -€1,670
down €1,670 (-88.7%), from €1,883 to €213
- Short-term financial debts -€1,504
no longer reported in 2025 (was €1,504)
- Profit (loss) carried forward +€1,201
up €1,201 (+8.2%), from -€14,611 to -€13,410
- Gross operating margin +€2,037
up €2,037 (+25.3%), from €8,041 to €10,077
- Taxes +€689
up €689 (+36.4%), from €1,890 to €2,579
- Financial charges -€361
down €361 (-43.8%), from €824 to €463
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 | €29,759 | €27,169 | -€2,591 | -8.7% |
| Fixed assets | 21/28 | €26,754 | €23,413 | -€3,341 | -12.5% |
| Tangible fixed assets | 22/27 | €26,754 | €23,413 | -€3,341 | -12.5% |
| Furniture and vehicles | 24 | €26,754 | €23,413 | -€3,341 | -12.5% |
| Current assets | 29/58 | €3,006 | €3,756 | +€750 | +25.0% |
| Cash at bank and in hand | 54/58 | €1,138 | €2,411 | +€1,273 | +112% |
| Deferred charges and accrued income | 490/1 | €1,868 | €1,345 | -€523 | -28.0% |
| Total equity and liabilities | 10/49 | €29,759 | €27,169 | -€2,591 | -8.7% |
| Equity | 10/15 | €5,841 | €7,042 | +€1,201 | +20.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,611 | -€13,410 | +€1,201 | +8.2% |
| Amounts payable | 17/49 | €23,918 | €20,127 | -€3,792 | -15.9% |
| Amounts payable within one year | 42/48 | €23,823 | €19,747 | -€4,077 | -17.1% |
| Financial debts | 43 | €1,504 | - | -€1,504 | |
| Credit institutions | 430/8 | €1,504 | - | -€1,504 | |
| Trade debts | 44 | €1,883 | €213 | -€1,670 | -88.7% |
| Suppliers | 440/4 | €1,883 | €213 | -€1,670 | -88.7% |
| Taxes, remuneration and social security | 45 | €3,220 | €5,364 | +€2,144 | +66.6% |
| Taxes | 450/3 | €3,220 | €5,364 | +€2,144 | +66.6% |
| Other amounts payable | 47/48 | €17,216 | €14,170 | -€3,046 | -17.7% |
| Accrued charges and deferred income | 492/3 | €95 | €380 | +€285 | +299% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,988 | €4,894 | -€94 | -1.9% |
| Other operating charges | 640/8 | €894 | €940 | +€47 | +5.2% |
| Gross operating margin | 9900 | €8,041 | €10,077 | +€2,037 | +25.3% |
| Operating profit (loss) | 9901 | €2,159 | €4,243 | +€2,084 | +96.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €824 | €463 | -€361 | -43.8% |
| Recurring financial charges | 65 | €824 | €463 | -€361 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | €1,335 | €3,780 | +€2,445 | +183% |
| Income taxes | 67/77 | €1,890 | €2,579 | +€689 | +36.4% |
| Profit (loss) for the period | 9904 | -€555 | €1,201 | +€1,756 | |
| Profit (loss) for the period to be appropriated | 9905 | -€555 | €1,201 | +€1,756 |
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 26 October 2026 via checked.be.