GILTRANS: 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.
GILTRANS
Largest movements
- Tangible fixed assets -€7,628
down €7,628 (-27.3%), from €27,979 to €20,351
of which Furniture and vehicles: -€5,874
- Receivables within one year -€4,242
down €4,242 (-6.2%), from €68,127 to €63,885
of which Trade receivables: -€6,956
- Debts after one year -€7,296
down €7,296 (-79.7%), from €9,159 to €1,863
- Tax, wage and social debts -€4,324
down €4,324 (-63.1%), from €6,849 to €2,525
- Current portion of long-term debt +€1,742
up €1,742 (+24.7%), from €7,054 to €8,796
- Trade debts -€1,567
down €1,567 (-34.9%), from €4,492 to €2,925
- Gross operating margin -€11,644
down €11,644 (-55.1%), from €21,122 to €9,478
- Taxes -€3,017
down €3,017 (-89.1%), from €3,385 to €368
- Financial charges -€475
down €475 (-36.1%), from €1,317 to €842
- Depreciation -€309
down €309 (-3.7%), from €8,390 to €8,081
- Financial income +€235
up €235 (+16.3%), from €1,441 to €1,676
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 | €105,256 | €93,194 | -€12,062 | -11.5% |
| Fixed assets | 21/28 | €27,979 | €20,351 | -€7,628 | -27.3% |
| Tangible fixed assets | 22/27 | €27,979 | €20,351 | -€7,628 | -27.3% |
| Land and buildings | 22 | €5,123 | €4,442 | -€681 | -13.3% |
| Plant, machinery and equipment | 23 | €3,352 | €2,280 | -€1,072 | -32.0% |
| Furniture and vehicles | 24 | €19,504 | €13,630 | -€5,874 | -30.1% |
| Current assets | 29/58 | €77,277 | €72,842 | -€4,435 | -5.7% |
| Amounts receivable within one year | 40/41 | €68,127 | €63,885 | -€4,242 | -6.2% |
| Trade receivables | 40 | €10,828 | €3,872 | -€6,956 | -64.2% |
| Other amounts receivable | 41 | €57,299 | €60,013 | +€2,714 | +4.7% |
| Cash at bank and in hand | 54/58 | €7,124 | €6,198 | -€926 | -13.0% |
| Deferred charges and accrued income | 490/1 | €2,026 | €2,760 | +€734 | +36.2% |
| Total equity and liabilities | 10/49 | €105,256 | €93,194 | -€12,062 | -11.5% |
| Equity | 10/15 | €77,702 | €77,084 | -€618 | -0.8% |
| Contributions | 10/11 | €7,605 | €7,605 | +€0 | 0.0% |
| Reserves | 13 | €60,271 | €60,271 | -€0 | 0.0% |
| Tax-exempt reserves | 132 | €3,191 | €3,191 | -€0 | 0.0% |
| Distributable reserves | 133 | €57,080 | €57,080 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €9,826 | €9,208 | -€618 | -6.3% |
| Amounts payable | 17/49 | €27,554 | €16,109 | -€11,445 | -41.5% |
| Amounts payable after more than one year | 17 | €9,159 | €1,863 | -€7,296 | -79.7% |
| Financial debts | 170/4 | €9,159 | €1,863 | -€7,296 | -79.7% |
| Amounts payable within one year | 42/48 | €18,395 | €14,247 | -€4,149 | -22.6% |
| Current portion of amounts payable after more than one year | 42 | €7,054 | €8,796 | +€1,742 | +24.7% |
| Trade debts | 44 | €4,492 | €2,925 | -€1,567 | -34.9% |
| Suppliers | 440/4 | €4,492 | €2,925 | -€1,567 | -34.9% |
| Taxes, remuneration and social security | 45 | €6,849 | €2,525 | -€4,324 | -63.1% |
| Taxes | 450/3 | €6,849 | €2,525 | -€4,324 | -63.1% |
| Non-recurring operating income | 76A | €5,560 | - | -€5,560 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,390 | €8,081 | -€309 | -3.7% |
| Other operating charges | 640/8 | €2,499 | €2,480 | -€19 | -0.8% |
| Gross operating margin | 9900 | €21,122 | €9,478 | -€11,644 | -55.1% |
| Operating profit (loss) | 9901 | €10,233 | -€1,083 | -€11,316 | |
| Financial income | 75/76B | €1,441 | €1,676 | +€235 | +16.3% |
| Recurring financial income | 75 | €1,441 | €1,676 | +€235 | +16.3% |
| Financial charges | 65/66B | €1,317 | €842 | -€475 | -36.1% |
| Recurring financial charges | 65 | €1,317 | €842 | -€475 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €10,357 | -€249 | -€10,606 | |
| Income taxes | 67/77 | €3,385 | €368 | -€3,017 | -89.1% |
| Profit (loss) for the period | 9904 | €6,972 | -€617 | -€7,589 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,972 | -€617 | -€7,589 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.