Gino Biesemans: 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.
Gino Biesemans
Largest movements
- Tangible fixed assets +€42,106
up €42,106 (+156%), from €27,050 to €69,156
of which Furniture and vehicles: +€44,795
- Cash -€7,414
down €7,414 (-13.9%), from €53,342 to €45,928
mainly Investment in fixed assets (net) (-€68,548) and Trade debts (-€5,551)
- Receivables within one year -€1,968
down €1,968 (-90.1%), from €2,185 to €217
of which Other amounts receivable: -€1,847
- Debts after one year +€33,339
up €33,339 (+823%), from €4,051 to €37,389
- Current portion of long-term debt +€9,391
up €9,391 (+159%), from €5,909 to €15,300
- Trade debts -€5,551
down €5,551 (-73.8%), from €7,526 to €1,975
- Tax, wage and social debts -€2,784
down €2,784 (-33.5%), from €8,309 to €5,525
of which Taxes: -€2,105
- Reserves -€2,404
down €2,404 (-5.0%), from €47,926 to €45,522
of which Distributable reserves: -€2,404
- Depreciation +€14,125
up €14,125 (+115%), from €12,317 to €26,443
- Gross operating margin +€12,514
up €12,514 (+73.3%), from €17,077 to €29,591
- Financial charges +€1,515
up €1,515 (+112%), from €1,347 to €2,861
- Other operating charges +€368
up €368 (+31.9%), from €1,154 to €1,523
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 | €82,807 | €115,925 | +€33,118 | +40.0% |
| Fixed assets | 21/28 | €27,101 | €69,206 | +€42,106 | +155% |
| Intangible fixed assets | 21 | €1 | €0 | -€0 | -46.2% |
| Tangible fixed assets | 22/27 | €27,050 | €69,156 | +€42,106 | +156% |
| Plant, machinery and equipment | 23 | €6,754 | €5,857 | -€897 | -13.3% |
| Furniture and vehicles | 24 | €12,101 | €56,896 | +€44,795 | +370% |
| Other tangible fixed assets | 26 | €8,195 | €6,404 | -€1,792 | -21.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €55,707 | €46,719 | -€8,988 | -16.1% |
| Amounts receivable within one year | 40/41 | €2,185 | €217 | -€1,968 | -90.1% |
| Trade receivables | 40 | €121 | - | -€121 | |
| Other amounts receivable | 41 | €2,064 | €217 | -€1,847 | -89.5% |
| Cash at bank and in hand | 54/58 | €53,342 | €45,928 | -€7,414 | -13.9% |
| Deferred charges and accrued income | 490/1 | €180 | €574 | +€394 | +219% |
| Total equity and liabilities | 10/49 | €82,807 | €115,925 | +€33,118 | +40.0% |
| Equity | 10/15 | €54,126 | €51,722 | -€2,404 | -4.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €47,926 | €45,522 | -€2,404 | -5.0% |
| Tax-exempt reserves | 132 | €18,845 | €18,845 | = | 0.0% |
| Distributable reserves | 133 | €29,081 | €26,677 | -€2,404 | -8.3% |
| Amounts payable | 17/49 | €28,681 | €64,203 | +€35,522 | +124% |
| Amounts payable after more than one year | 17 | €4,051 | €37,389 | +€33,339 | +823% |
| Financial debts | 170/4 | €4,051 | €37,389 | +€33,339 | +823% |
| Amounts payable within one year | 42/48 | €24,631 | €26,814 | +€2,184 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €5,909 | €15,300 | +€9,391 | +159% |
| Trade debts | 44 | €7,526 | €1,975 | -€5,551 | -73.8% |
| Suppliers | 440/4 | €7,526 | €1,975 | -€5,551 | -73.8% |
| Taxes, remuneration and social security | 45 | €8,309 | €5,525 | -€2,784 | -33.5% |
| Taxes | 450/3 | €4,161 | €2,056 | -€2,105 | -50.6% |
| Remuneration and social security | 454/9 | €4,148 | €3,469 | -€679 | -16.4% |
| Other amounts payable | 47/48 | €2,887 | €4,015 | +€1,128 | +39.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,317 | €26,443 | +€14,125 | +115% |
| Other operating charges | 640/8 | €1,154 | €1,523 | +€368 | +31.9% |
| Gross operating margin | 9900 | €17,077 | €29,591 | +€12,514 | +73.3% |
| Operating profit (loss) | 9901 | €3,605 | €1,625 | -€1,980 | -54.9% |
| Financial income | 75/76B | €18 | - | -€18 | |
| Recurring financial income | 75 | €18 | - | -€18 | |
| Financial charges | 65/66B | €1,347 | €2,861 | +€1,515 | +112% |
| Recurring financial charges | 65 | €1,347 | €2,861 | +€1,515 | +112% |
| Profit (loss) for the period before taxes | 9903 | €2,277 | -€1,236 | -€3,513 | |
| Income taxes | 67/77 | €1,142 | €1,168 | +€26 | +2.3% |
| Profit (loss) for the period | 9904 | €1,135 | -€2,404 | -€3,539 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,135 | -€2,404 | -€3,539 |
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 13 October 2026 via checked.be.