GILLTECH: 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.
GILLTECH
Largest movements
- Receivables within one year +€111,277
up €111,277 (+67.2%), from €165,632 to €276,910
of which Trade receivables: +€103,778
- Stocks and contracts +€59,036
up €59,036 (+30.1%), from €195,969 to €255,004
- Cash -€57,555
down €57,555 (-79.1%), from €72,786 to €15,231
mainly Receivables within one year (-€111,277) and Stocks and contracts (-€59,036)
- Tangible fixed assets -€6,860
down €6,860 (-15.9%), from €43,117 to €36,258
of which Furniture and vehicles: -€7,231
- Reserves +€87,300
up €87,300 (+64.7%), from €135,025 to €222,325
- Trade debts +€71,815
up €71,815 (+30.8%), from €232,877 to €304,692
- Tax, wage and social debts -€24,077
down €24,077 (-70.8%), from €34,011 to €9,934
of which Taxes: -€24,628
- Debts after one year -€12,159
down €12,159 (-57.6%), from €21,116 to €8,958
- Other debts -€9,624
down €9,624 (-61.7%), from €15,591 to €5,966
- Gross operating margin +€21,384
up €21,384 (+13.6%), from €156,770 to €178,153
- Staff costs +€13,426
up €13,426 (+92.1%), from €14,583 to €28,009
- Depreciation +€4,198
up €4,198 (+42.8%), from €9,819 to €14,016
- Taxes +€3,677
up €3,677 (+8.8%), from €41,794 to €45,471
- Other operating charges -€3,644
down €3,644 (-68.9%), from €5,287 to €1,643
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.
Cash bridge derived
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 | €479,968 | €593,143 | +€113,175 | +23.6% |
| Fixed assets | 21/28 | €43,117 | €41,409 | -€1,709 | -4.0% |
| Intangible fixed assets | 21 | - | €5,151 | +€5,151 | |
| Tangible fixed assets | 22/27 | €43,117 | €36,258 | -€6,860 | -15.9% |
| Plant, machinery and equipment | 23 | €976 | €3,015 | +€2,039 | +208.9% |
| Furniture and vehicles | 24 | €37,161 | €29,930 | -€7,231 | -19.5% |
| Other tangible fixed assets | 26 | €4,981 | €3,313 | -€1,668 | -33.5% |
| Current assets | 29/58 | €436,851 | €551,734 | +€114,884 | +26.3% |
| Stocks and contracts in progress | 3 | €195,969 | €255,004 | +€59,036 | +30.1% |
| Stocks | 30/36 | €195,969 | €255,004 | +€59,036 | +30.1% |
| Amounts receivable within one year | 40/41 | €165,632 | €276,910 | +€111,277 | +67.2% |
| Trade receivables | 40 | €164,787 | €268,565 | +€103,778 | +63.0% |
| Other amounts receivable | 41 | €845 | €8,344 | +€7,499 | +887.0% |
| Cash at bank and in hand | 54/58 | €72,786 | €15,231 | -€57,555 | -79.1% |
| Deferred charges and accrued income | 490/1 | €2,463 | €4,589 | +€2,126 | +86.3% |
| Total equity and liabilities | 10/49 | €479,968 | €593,143 | +€113,175 | +23.6% |
| Equity | 10/15 | €164,088 | €251,434 | +€87,346 | +53.2% |
| Contributions | 10/11 | €29,000 | €29,000 | = | 0.0% |
| Reserves | 13 | €135,025 | €222,325 | +€87,300 | +64.7% |
| Distributable reserves | 133 | €135,025 | €222,325 | +€87,300 | +64.7% |
| Profit (loss) carried forward | 14 | €63 | €109 | +€46 | +72.1% |
| Amounts payable | 17/49 | €315,879 | €341,709 | +€25,829 | +8.2% |
| Amounts payable after more than one year | 17 | €21,116 | €8,958 | -€12,159 | -57.6% |
| Financial debts | 170/4 | €21,116 | €8,958 | -€12,159 | -57.6% |
| Amounts payable within one year | 42/48 | €294,763 | €332,751 | +€37,988 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €12,285 | €12,159 | -€126 | -1.0% |
| Trade debts | 44 | €232,877 | €304,692 | +€71,815 | +30.8% |
| Suppliers | 440/4 | €232,877 | €304,692 | +€71,815 | +30.8% |
| Taxes, remuneration and social security | 45 | €34,011 | €9,934 | -€24,077 | -70.8% |
| Taxes | 450/3 | €32,480 | €7,853 | -€24,628 | -75.8% |
| Remuneration and social security | 454/9 | €1,531 | €2,082 | +€551 | +36.0% |
| Other amounts payable | 47/48 | €15,591 | €5,966 | -€9,624 | -61.7% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €14,583 | €28,009 | +€13,426 | +92.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,819 | €14,016 | +€4,198 | +42.8% |
| Other operating charges | 640/8 | €5,287 | €1,643 | -€3,644 | -68.9% |
| Gross operating margin | 9900 | €156,770 | €178,153 | +€21,384 | +13.6% |
| Operating profit (loss) | 9901 | €127,081 | €134,485 | +€7,404 | +5.8% |
| Financial income | 75/76B | €589 | €669 | +€80 | +13.6% |
| Recurring financial income | 75 | €589 | €669 | +€80 | +13.6% |
| Financial charges | 65/66B | €2,114 | €2,337 | +€223 | +10.6% |
| Recurring financial charges | 65 | €2,114 | €2,337 | +€223 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | €125,556 | €132,817 | +€7,261 | +5.8% |
| Income taxes | 67/77 | €41,794 | €45,471 | +€3,677 | +8.8% |
| Profit (loss) for the period | 9904 | €83,762 | €87,346 | +€3,584 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €83,762 | €87,346 | +€3,584 | +4.3% |
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 9 October 2026 via checked.be.