GILVER: 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.
GILVER
Largest movements
- Receivables within one year -€1,828
down €1,828 (-5.0%), from €36,533 to €34,705
- Cash -€1,048
down €1,048 (-63.8%), from €1,642 to €594
mainly Debts after one year (-€1,604) and Trade debts (-€1,558)
- Debts after one year -€1,604
down €1,604 (-28.8%), from €5,578 to €3,974
- Trade debts -€1,558
no longer reported in 2025 (was €1,558)
- Other debts +€1,487
up €1,487 (+0.6%), from €267,730 to €269,216
- Tax, wage and social debts -€1,217
down €1,217 (-14.2%), from €8,554 to €7,337
of which Taxes: -€4,469
- Gross operating margin -€9,970
down €9,970 (-22.9%), from €43,537 to €33,567
- Staff costs -€2,764
down €2,764 (-7.7%), from €35,797 to €33,033
- Financial charges -€2,090
down €2,090 (-93.9%), from €2,227 to €137
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 | €38,175 | €35,299 | -€2,876 | -7.5% |
| Current assets | 29/58 | €38,175 | €35,299 | -€2,876 | -7.5% |
| Amounts receivable within one year | 40/41 | €36,533 | €34,705 | -€1,828 | -5.0% |
| Trade receivables | 40 | €36,533 | €34,705 | -€1,828 | -5.0% |
| Cash at bank and in hand | 54/58 | €1,642 | €594 | -€1,048 | -63.8% |
| Total equity and liabilities | 10/49 | €38,175 | €35,299 | -€2,876 | -7.5% |
| Equity | 10/15 | -€245,245 | -€245,227 | +€17 | 0.0% |
| 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 | €3,784 | €3,784 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,784 | €3,784 | = | 0.0% |
| Legal reserve | 130 | €3,784 | €3,784 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€311,029 | -€311,011 | +€17 | 0.0% |
| Amounts payable | 17/49 | €283,420 | €280,527 | -€2,893 | -1.0% |
| Amounts payable after more than one year | 17 | €5,578 | €3,974 | -€1,604 | -28.8% |
| Financial debts | 170/4 | €5,578 | €3,974 | -€1,604 | -28.8% |
| Amounts payable within one year | 42/48 | €277,842 | €276,553 | -€1,289 | -0.5% |
| Trade debts | 44 | €1,558 | - | -€1,558 | |
| Suppliers | 440/4 | €1,558 | - | -€1,558 | |
| Taxes, remuneration and social security | 45 | €8,554 | €7,337 | -€1,217 | -14.2% |
| Taxes | 450/3 | €6,812 | €2,343 | -€4,469 | -65.6% |
| Remuneration and social security | 454/9 | €1,742 | €4,994 | +€3,252 | +186.7% |
| Other amounts payable | 47/48 | €267,730 | €269,216 | +€1,487 | +0.6% |
| Remuneration, social security and pensions | 62 | €35,797 | €33,033 | -€2,764 | -7.7% |
| Other operating charges | 640/8 | €747 | €380 | -€367 | -49.1% |
| Gross operating margin | 9900 | €43,537 | €33,567 | -€9,970 | -22.9% |
| Operating profit (loss) | 9901 | €6,993 | €154 | -€6,839 | -97.8% |
| Financial charges | 65/66B | €2,227 | €137 | -€2,090 | -93.9% |
| Recurring financial charges | 65 | €2,227 | €137 | -€2,090 | -93.9% |
| Profit (loss) for the period before taxes | 9903 | €4,766 | €17 | -€4,749 | -99.6% |
| Profit (loss) for the period | 9904 | €4,766 | €17 | -€4,749 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,766 | €17 | -€4,749 | -99.6% |
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 5 October 2026 via checked.be.