GILO TUBES: what changed
Two fiscal 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.
GILO TUBES
Largest movements
- Receivables within one year +€53,574
up €53,574 (+27.5%), from €194,599 to €248,172
of which Other amounts receivable: +€63,634
- Stocks and contracts -€46,721
down €46,721 (-26.3%), from €177,674 to €130,953
of which Stocks: -€94,450
- Cash -€40,626
down €40,626 (-62.2%), from €65,282 to €24,656
mainly Receivables within one year (-€53,574) and Trade debts (-€31,301)
- Deferred charges and accrued income -€9,170
down €9,170 (-96.9%), from €9,462 to €291
- Tangible fixed assets -€8,912
down €8,912 (-7.8%), from €114,319 to €105,408
of which Other tangible fixed assets: -€5,609
- Trade debts -€31,301
down €31,301 (-69.5%), from €45,064 to €13,763
- Current portion of long-term debt -€12,880
down €12,880 (-65.8%), from €19,574 to €6,694
- Gross operating margin -€85,171
down €85,171 (-40.2%), from €211,960 to €126,789
- Staff costs -€53,025
down €53,025 (-31.2%), from €170,105 to €117,080
- Other operating charges -€6,257
down €6,257 (-82.8%), from €7,552 to €1,295
- Taxes -€4,302
no longer reported in 2025 (was €4,302)
- Depreciation -€2,142
down €2,142 (-19.4%), from €11,053 to €8,912
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 | €561,335 | €509,480 | -€51,855 | -9.2% |
| Fixed assets | 21/28 | €114,319 | €105,408 | -€8,912 | -7.8% |
| Tangible fixed assets | 22/27 | €114,319 | €105,408 | -€8,912 | -7.8% |
| Plant, machinery and equipment | 23 | €17,741 | €14,438 | -€3,303 | -18.6% |
| Other tangible fixed assets | 26 | €96,578 | €90,970 | -€5,609 | -5.8% |
| Current assets | 29/58 | €447,016 | €404,073 | -€42,943 | -9.6% |
| Stocks and contracts in progress | 3 | €177,674 | €130,953 | -€46,721 | -26.3% |
| Stocks | 30/36 | €177,674 | €83,223 | -€94,450 | -53.2% |
| Contracts in progress | 37 | - | €47,729 | +€47,729 | |
| Amounts receivable within one year | 40/41 | €194,599 | €248,172 | +€53,574 | +27.5% |
| Trade receivables | 40 | €55,992 | €45,932 | -€10,060 | -18.0% |
| Other amounts receivable | 41 | €138,606 | €202,241 | +€63,634 | +45.9% |
| Cash at bank and in hand | 54/58 | €65,282 | €24,656 | -€40,626 | -62.2% |
| Deferred charges and accrued income | 490/1 | €9,462 | €291 | -€9,170 | -96.9% |
| Total equity and liabilities | 10/49 | €561,335 | €509,480 | -€51,855 | -9.2% |
| Equity | 10/15 | €473,962 | €472,720 | -€1,241 | -0.3% |
| Contributions | 10/11 | €142,836 | €142,836 | = | 0.0% |
| Capital | 10 | €142,836 | €142,836 | = | 0.0% |
| Issued capital | 100 | €142,836 | €142,836 | = | 0.0% |
| Reserves | 13 | €313,086 | €313,086 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,284 | €14,284 | = | 0.0% |
| Legal reserve | 130 | €14,284 | €14,284 | = | 0.0% |
| Distributable reserves | 133 | €298,802 | €298,802 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,040 | €16,798 | -€1,241 | -6.9% |
| Amounts payable | 17/49 | €87,374 | €36,760 | -€50,613 | -57.9% |
| Amounts payable after more than one year | 17 | €3,418 | - | -€3,418 | |
| Financial debts | 170/4 | €3,418 | - | -€3,418 | |
| Amounts payable within one year | 42/48 | €83,955 | €36,760 | -€47,195 | -56.2% |
| Current portion of amounts payable after more than one year | 42 | €19,574 | €6,694 | -€12,880 | -65.8% |
| Trade debts | 44 | €45,064 | €13,763 | -€31,301 | -69.5% |
| Suppliers | 440/4 | €45,064 | €13,763 | -€31,301 | -69.5% |
| Taxes, remuneration and social security | 45 | €18,117 | €15,103 | -€3,014 | -16.6% |
| Taxes | 450/3 | €3,401 | €2,254 | -€1,147 | -33.7% |
| Remuneration and social security | 454/9 | €14,716 | €12,849 | -€1,867 | -12.7% |
| Other amounts payable | 47/48 | €1,200 | €1,200 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €170,105 | €117,080 | -€53,025 | -31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,053 | €8,912 | -€2,142 | -19.4% |
| Other operating charges | 640/8 | €7,552 | €1,295 | -€6,257 | -82.8% |
| Gross operating margin | 9900 | €211,960 | €126,789 | -€85,171 | -40.2% |
| Operating profit (loss) | 9901 | €23,250 | -€498 | -€23,748 | |
| Financial income | 75/76B | €382 | €257 | -€125 | -32.7% |
| Recurring financial income | 75 | €382 | €257 | -€125 | -32.7% |
| Financial charges | 65/66B | €1,291 | €1,001 | -€290 | -22.5% |
| Recurring financial charges | 65 | €1,291 | €998 | -€293 | -22.7% |
| Non-recurring financial charges | 66B | - | €3 | +€3 | |
| Profit (loss) for the period before taxes | 9903 | €22,341 | -€1,241 | -€23,583 | |
| Income taxes | 67/77 | €4,302 | - | -€4,302 | |
| Profit (loss) for the period | 9904 | €18,040 | -€1,241 | -€19,281 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,040 | -€1,241 | -€19,281 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.