GIOSAPIO: 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.
GIOSAPIO
Largest movements
- Cash +€99,074
up €99,074 (+75.4%), from €131,443 to €230,518
mainly Net result for the year (+€74,987) and Tax, wage and social debts (+€11,239)
- Receivables within one year -€3,136
down €3,136 (-92.5%), from €3,392 to €256
- Tangible fixed assets -€2,648
down €2,648 (-16.2%), from €16,346 to €13,697
- Reserves +€74,500
new in 2025: €74,500
- Tax, wage and social debts +€11,239
up €11,239 (+36.4%), from €30,875 to €42,114
- Trade debts +€5,871
up €5,871 (+64.0%), from €9,179 to €15,050
- Gross operating margin +€57,177
up €57,177 (+98.8%), from €57,859 to €115,036
- Taxes +€19,305
up €19,305 (+169.1%), from €11,415 to €30,720
- Depreciation +€1,763
up €1,763 (+24.3%), from €7,247 to €9,010
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 | €152,671 | €245,147 | +€92,476 | +60.6% |
| Fixed assets | 21/28 | €16,430 | €13,781 | -€2,648 | -16.1% |
| Tangible fixed assets | 22/27 | €16,346 | €13,697 | -€2,648 | -16.2% |
| Furniture and vehicles | 24 | €16,346 | €13,697 | -€2,648 | -16.2% |
| Financial fixed assets | 28 | €84 | €84 | = | 0.0% |
| Current assets | 29/58 | €136,241 | €231,365 | +€95,124 | +69.8% |
| Amounts receivable within one year | 40/41 | €3,392 | €256 | -€3,136 | -92.5% |
| Other amounts receivable | 41 | €3,392 | €256 | -€3,136 | -92.5% |
| Cash at bank and in hand | 54/58 | €131,443 | €230,518 | +€99,074 | +75.4% |
| Deferred charges and accrued income | 490/1 | €1,406 | €592 | -€814 | -57.9% |
| Total equity and liabilities | 10/49 | €152,671 | €245,147 | +€92,476 | +60.6% |
| Equity | 10/15 | €112,617 | €187,604 | +€74,987 | +66.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €74,500 | +€74,500 | |
| Distributable reserves | 133 | - | €74,500 | +€74,500 | |
| Profit (loss) carried forward | 14 | €107,617 | €108,104 | +€487 | +0.5% |
| Amounts payable | 17/49 | €40,054 | €57,543 | +€17,489 | +43.7% |
| Amounts payable within one year | 42/48 | €40,054 | €57,543 | +€17,489 | +43.7% |
| Trade debts | 44 | €9,179 | €15,050 | +€5,871 | +64.0% |
| Suppliers | 440/4 | €9,179 | €15,050 | +€5,871 | +64.0% |
| Taxes, remuneration and social security | 45 | €30,875 | €42,114 | +€11,239 | +36.4% |
| Taxes | 450/3 | €30,875 | €42,114 | +€11,239 | +36.4% |
| Other amounts payable | 47/48 | - | €379 | +€379 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,247 | €9,010 | +€1,763 | +24.3% |
| Other operating charges | 640/8 | €285 | €253 | -€32 | -11.2% |
| Gross operating margin | 9900 | €57,859 | €115,036 | +€57,177 | +98.8% |
| Operating profit (loss) | 9901 | €50,327 | €105,773 | +€55,446 | +110.2% |
| Financial income | 75/76B | €91 | - | -€91 | |
| Recurring financial income | 75 | €91 | - | -€91 | |
| Financial charges | 65/66B | €83 | €65 | -€17 | -20.9% |
| Recurring financial charges | 65 | €83 | €65 | -€17 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €50,335 | €105,707 | +€55,372 | +110.0% |
| Income taxes | 67/77 | €11,415 | €30,720 | +€19,305 | +169.1% |
| Profit (loss) for the period | 9904 | €38,920 | €74,987 | +€36,067 | +92.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,920 | €74,987 | +€36,067 | +92.7% |
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 7 October 2026 via checked.be.