GIOLER: 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.
GIOLER
Largest movements
- Tangible fixed assets -€18,306
down €18,306 (-3.5%), from €519,213 to €500,907
- Debts after one year -€48,144
down €48,144 (-19.1%), from €251,726 to €203,582
of which Financial debts: -€52,144
- Trade debts +€23,609
up €23,609 (+273,885%), from €9 to €23,618
- Profit (loss) carried forward +€5,510
up €5,510 (+11.2%), from €49,069 to €54,578
- Gross operating margin +€10,541
up €10,541 (+30.0%), from €35,118 to €45,659
- Financial charges -€1,540
down €1,540 (-17.0%), from €9,065 to €7,525
- Other operating charges +€848
up €848 (+6.6%), from €12,912 to €13,760
- Taxes +€562
new in 2025: €562
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 | €521,090 | €501,911 | -€19,180 | -3.7% |
| Fixed assets | 21/28 | €519,213 | €500,907 | -€18,306 | -3.5% |
| Tangible fixed assets | 22/27 | €519,213 | €500,907 | -€18,306 | -3.5% |
| Land and buildings | 22 | €519,213 | €500,907 | -€18,306 | -3.5% |
| Current assets | 29/58 | €1,878 | €1,004 | -€874 | -46.5% |
| Amounts receivable within one year | 40/41 | €148 | €148 | = | 0.0% |
| Other amounts receivable | 41 | €148 | €148 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,730 | €856 | -€874 | -50.5% |
| Total equity and liabilities | 10/49 | €521,090 | €501,911 | -€19,180 | -3.7% |
| Equity | 10/15 | €117,269 | €122,778 | +€5,510 | +4.7% |
| 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 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,069 | €54,578 | +€5,510 | +11.2% |
| Amounts payable | 17/49 | €403,822 | €379,132 | -€24,690 | -6.1% |
| Amounts payable after more than one year | 17 | €251,726 | €203,582 | -€48,144 | -19.1% |
| Financial debts | 170/4 | €244,371 | €192,227 | -€52,144 | -21.3% |
| Other amounts payable | 178/9 | €7,355 | €11,355 | +€4,000 | +54.4% |
| Amounts payable within one year | 42/48 | €152,095 | €175,550 | +€23,455 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €50,935 | €52,316 | +€1,381 | +2.7% |
| Trade debts | 44 | €9 | €23,618 | +€23,609 | +273,885% |
| Suppliers | 440/4 | €9 | €23,618 | +€23,609 | +273,885% |
| Taxes, remuneration and social security | 45 | €4,028 | €562 | -€3,467 | -86.1% |
| Taxes | 450/3 | €4,028 | €562 | -€3,467 | -86.1% |
| Other amounts payable | 47/48 | €97,124 | €99,055 | +€1,931 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,306 | €18,306 | = | 0.0% |
| Other operating charges | 640/8 | €12,912 | €13,760 | +€848 | +6.6% |
| Gross operating margin | 9900 | €35,118 | €45,659 | +€10,541 | +30.0% |
| Operating profit (loss) | 9901 | €3,900 | €13,593 | +€9,692 | +248% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €9,065 | €7,525 | -€1,540 | -17.0% |
| Recurring financial charges | 65 | €9,065 | €7,525 | -€1,540 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,165 | €6,072 | +€11,236 | |
| Income taxes | 67/77 | - | €562 | +€562 | |
| Profit (loss) for the period | 9904 | -€5,165 | €5,510 | +€10,674 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,165 | €5,510 | +€10,674 |
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 28 October 2026 via checked.be.