GILSON CEDRIC: 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.
GILSON CEDRIC
Largest movements
- Receivables within one year +€40,637
up €40,637 (+346%), from €11,738 to €52,374
of which Trade receivables: +€45,269
- Cash -€10,390
down €10,390 (-96.5%), from €10,763 to €373
mainly Receivables within one year (-€40,637) and Investment in fixed assets (net) (-€11,073)
- Tangible fixed assets +€4,840
up €4,840 (+16.5%), from €29,291 to €34,131
of which Furniture and vehicles: +€4,851
- Trade debts +€17,062
up €17,062 (+94.7%), from €18,024 to €35,087
- Short-term financial debts +€6,439
new in 2025: €6,439
- Debts after one year -€5,555
down €5,555 (-20.8%), from €26,721 to €21,166
- Other debts +€4,770
up €4,770 (+1,069%), from €446 to €5,216
- Reserves +€4,553
up €4,553 (+245%), from €1,860 to €6,413
- Gross operating margin +€40,455
up €40,455 (+278%), from €14,566 to €55,021
- Staff costs +€20,390
up €20,390 (+6,645%), from €307 to €20,697
- Taxes +€2,532
up €2,532 (+5,439%), from €47 to €2,579
- Financial charges +€1,931
up €1,931 (+239%), from €809 to €2,740
of which Financial charges: +€1,703
- Depreciation -€1,754
down €1,754 (-22.4%), from €7,825 to €6,072
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 | €57,888 | €93,050 | +€35,162 | +60.7% |
| Fixed assets | 21/28 | €29,316 | €34,317 | +€5,001 | +17.1% |
| Tangible fixed assets | 22/27 | €29,291 | €34,131 | +€4,840 | +16.5% |
| Plant, machinery and equipment | 23 | €12 | - | -€12 | |
| Furniture and vehicles | 24 | €29,279 | €34,131 | +€4,851 | +16.6% |
| Financial fixed assets | 28 | €25 | €187 | +€162 | +647% |
| Current assets | 29/58 | €28,572 | €58,733 | +€30,160 | +106% |
| Stocks and contracts in progress | 3 | €6,072 | €5,985 | -€86 | -1.4% |
| Stocks | 30/36 | €6,072 | €5,985 | -€86 | -1.4% |
| Amounts receivable within one year | 40/41 | €11,738 | €52,374 | +€40,637 | +346% |
| Trade receivables | 40 | €716 | €45,984 | +€45,269 | +6,327% |
| Other amounts receivable | 41 | €11,022 | €6,390 | -€4,632 | -42.0% |
| Cash at bank and in hand | 54/58 | €10,763 | €373 | -€10,390 | -96.5% |
| Total equity and liabilities | 10/49 | €57,888 | €93,050 | +€35,162 | +60.7% |
| Equity | 10/15 | €5,260 | €12,613 | +€7,353 | +140% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €6,413 | +€4,553 | +245% |
| Distributable reserves | 133 | €1,860 | €6,413 | +€4,553 | +245% |
| Profit (loss) carried forward | 14 | -€2,800 | - | +€2,800 | |
| Amounts payable | 17/49 | €52,629 | €80,437 | +€27,808 | +52.8% |
| Amounts payable after more than one year | 17 | €26,721 | €21,166 | -€5,555 | -20.8% |
| Financial debts | 170/4 | €26,721 | €21,166 | -€5,555 | -20.8% |
| Amounts payable within one year | 42/48 | €24,779 | €56,455 | +€31,676 | +128% |
| Current portion of amounts payable after more than one year | 42 | €6,262 | €5,617 | -€644 | -10.3% |
| Financial debts | 43 | - | €6,439 | +€6,439 | |
| Credit institutions | 430/8 | - | €6,439 | +€6,439 | |
| Trade debts | 44 | €18,024 | €35,087 | +€17,062 | +94.7% |
| Suppliers | 440/4 | €18,024 | €35,087 | +€17,062 | +94.7% |
| Taxes, remuneration and social security | 45 | €47 | €4,096 | +€4,049 | +8,697% |
| Taxes | 450/3 | €47 | €2,625 | +€2,579 | +5,539% |
| Remuneration and social security | 454/9 | - | €1,470 | +€1,470 | |
| Other amounts payable | 47/48 | €446 | €5,216 | +€4,770 | +1,069% |
| Accrued charges and deferred income | 492/3 | €1,129 | €2,816 | +€1,687 | +149% |
| Remuneration, social security and pensions | 62 | €307 | €20,697 | +€20,390 | +6,645% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,825 | €6,072 | -€1,754 | -22.4% |
| Other operating charges | 640/8 | €2,404 | €2,152 | -€252 | -10.5% |
| Non-recurring operating charges | 66A | - | €13,428 | +€13,428 | |
| Gross operating margin | 9900 | €14,566 | €55,021 | +€40,455 | +278% |
| Operating profit (loss) | 9901 | €4,030 | €12,672 | +€8,642 | +214% |
| Financial charges | 65/66B | €809 | €2,740 | +€1,931 | +239% |
| Recurring financial charges | 65 | €683 | €2,387 | +€1,703 | +249% |
| Non-recurring financial charges | 66B | €126 | €354 | +€227 | +180% |
| Profit (loss) for the period before taxes | 9903 | €3,221 | €9,932 | +€6,711 | +208% |
| Income taxes | 67/77 | €47 | €2,579 | +€2,532 | +5,439% |
| Profit (loss) for the period | 9904 | €3,174 | €7,353 | +€4,179 | +132% |
| Profit (loss) for the period to be appropriated | 9905 | €3,174 | €7,353 | +€4,179 | +132% |
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 21 October 2026 via checked.be.