Gilson André: 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.
Gilson André
Largest movements
- Current investments +€20,031
up €20,031 (+3.1%), from €648,900 to €668,931
- Receivables within one year +€11,527
up €11,527 (+10.3%), from €112,156 to €123,684
of which Trade receivables: +€8,777
- Cash -€10,665
down €10,665 (-34.9%), from €30,576 to €19,911
mainly Contributions, distributions and other (-€25,000) and Current investments (-€20,031)
- Reserves +€18,000
up €18,000 (+5.3%), from €337,624 to €355,624
of which Distributable reserves: +€18,000
- Gross operating margin -€8,378
down €8,378 (-14.2%), from €59,115 to €50,737
- Financial income +€8,163
up €8,163 (+177.8%), from €4,592 to €12,755
- Financial charges +€3,844
up €3,844, from -€2,730 to €1,114
- Taxes -€1,058
down €1,058 (-5.9%), from €18,057 to €16,999
- Other operating charges -€1,022
down €1,022 (-40.8%), from €2,504 to €1,481
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 | €792,161 | €815,037 | +€22,876 | +2.9% |
| Fixed assets | 21/28 | €528 | €2,511 | +€1,983 | +375.6% |
| Tangible fixed assets | 22/27 | - | €1,983 | +€1,983 | |
| Furniture and vehicles | 24 | - | €1,983 | +€1,983 | |
| Financial fixed assets | 28 | €528 | €528 | = | 0.0% |
| Current assets | 29/58 | €791,633 | €812,526 | +€20,893 | +2.6% |
| Amounts receivable within one year | 40/41 | €112,156 | €123,684 | +€11,527 | +10.3% |
| Trade receivables | 40 | €108,056 | €116,834 | +€8,777 | +8.1% |
| Other amounts receivable | 41 | €4,100 | €6,850 | +€2,750 | +67.1% |
| Current investments | 50/53 | €648,900 | €668,931 | +€20,031 | +3.1% |
| Cash at bank and in hand | 54/58 | €30,576 | €19,911 | -€10,665 | -34.9% |
| Total equity and liabilities | 10/49 | €792,161 | €815,037 | +€22,876 | +2.9% |
| Equity | 10/15 | €636,062 | €654,781 | +€18,718 | +2.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €337,624 | €355,624 | +€18,000 | +5.3% |
| Non-distributable reserves | 130/1 | €20,874 | €20,874 | = | 0.0% |
| Legal reserve | 130 | €20,874 | €20,874 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,750 | €30,750 | = | 0.0% |
| Distributable reserves | 133 | €286,000 | €304,000 | +€18,000 | +6.3% |
| Profit (loss) carried forward | 14 | €236,438 | €237,156 | +€718 | +0.3% |
| Amounts payable | 17/49 | €156,098 | €160,256 | +€4,158 | +2.7% |
| Amounts payable within one year | 42/48 | €44,808 | €43,797 | -€1,011 | -2.3% |
| Trade debts | 44 | €36,281 | €33,966 | -€2,316 | -6.4% |
| Suppliers | 440/4 | €8,804 | €5,321 | -€3,483 | -39.6% |
| Bills of exchange payable | 441 | €27,477 | €28,645 | +€1,167 | +4.2% |
| Taxes, remuneration and social security | 45 | €8,527 | €9,831 | +€1,304 | +15.3% |
| Taxes | 450/3 | €8,527 | €9,831 | +€1,304 | +15.3% |
| Accrued charges and deferred income | 492/3 | €111,290 | €116,460 | +€5,170 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €180 | +€180 | |
| Other operating charges | 640/8 | €2,504 | €1,481 | -€1,022 | -40.8% |
| Gross operating margin | 9900 | €59,115 | €50,737 | -€8,378 | -14.2% |
| Operating profit (loss) | 9901 | €56,612 | €49,076 | -€7,536 | -13.3% |
| Financial income | 75/76B | €4,592 | €12,755 | +€8,163 | +177.8% |
| Recurring financial income | 75 | €4,592 | €12,755 | +€8,163 | +177.8% |
| Financial charges | 65/66B | -€2,730 | €1,114 | +€3,844 | |
| Recurring financial charges | 65 | -€2,730 | €1,114 | +€3,844 | |
| Profit (loss) for the period before taxes | 9903 | €63,933 | €60,717 | -€3,216 | -5.0% |
| Income taxes | 67/77 | €18,057 | €16,999 | -€1,058 | -5.9% |
| Profit (loss) for the period | 9904 | €45,876 | €43,718 | -€2,158 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,876 | €43,718 | -€2,158 | -4.7% |
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.