GIOTS: 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.
GIOTS
Largest movements
- Current investments +€43,812
up €43,812 (+10.5%), from €417,394 to €461,206
- Cash +€33,669
up €33,669 (+11.1%), from €304,007 to €337,676
mainly Net result for the year (+€55,698) and Other debts (+€25,346)
- Receivables within one year -€21,823
down €21,823 (-14.0%), from €155,851 to €134,028
of which Trade receivables: -€30,529
- Tangible fixed assets -€16,940
down €16,940 (-14.5%), from €116,644 to €99,704
of which Furniture and vehicles: -€8,590
- Reserves +€55,698
up €55,698 (+9.2%), from €603,586 to €659,284
of which Distributable reserves: +€55,698
- Trade debts -€26,207
down €26,207 (-68.7%), from €38,145 to €11,937
- Other debts +€25,346
up €25,346 (+8.7%), from €292,195 to €317,541
- Debts after one year -€20,486
down €20,486 (-32.2%), from €63,710 to €43,224
- Gross operating margin -€43,354
down €43,354 (-26.4%), from €164,127 to €120,773
- Staff costs -€42,504
down €42,504 (-87.4%), from €48,619 to €6,115
- Financial income +€8,622
up €8,622 (+1289.8%), from €668 to €9,291
- Taxes +€4,003
up €4,003 (+17.9%), from €22,367 to €26,370
- Financial charges -€3,673
down €3,673 (-13.1%), from €28,126 to €24,454
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 | €1,098,415 | €1,130,959 | +€32,544 | +3.0% |
| Fixed assets | 21/28 | €119,643 | €102,702 | -€16,940 | -14.2% |
| Tangible fixed assets | 22/27 | €116,644 | €99,704 | -€16,940 | -14.5% |
| Land and buildings | 22 | €104,876 | €96,526 | -€8,350 | -8.0% |
| Furniture and vehicles | 24 | €11,769 | €3,178 | -€8,590 | -73.0% |
| Financial fixed assets | 28 | €2,999 | €2,999 | = | 0.0% |
| Current assets | 29/58 | €978,772 | €1,028,256 | +€49,485 | +5.1% |
| Stocks and contracts in progress | 3 | €97,713 | €93,696 | -€4,017 | -4.1% |
| Stocks | 30/36 | €97,713 | €93,696 | -€4,017 | -4.1% |
| Amounts receivable within one year | 40/41 | €155,851 | €134,028 | -€21,823 | -14.0% |
| Trade receivables | 40 | €97,050 | €66,521 | -€30,529 | -31.5% |
| Other amounts receivable | 41 | €58,800 | €67,507 | +€8,707 | +14.8% |
| Current investments | 50/53 | €417,394 | €461,206 | +€43,812 | +10.5% |
| Cash at bank and in hand | 54/58 | €304,007 | €337,676 | +€33,669 | +11.1% |
| Deferred charges and accrued income | 490/1 | €3,807 | €1,651 | -€2,157 | -56.6% |
| Total equity and liabilities | 10/49 | €1,098,415 | €1,130,959 | +€32,544 | +3.0% |
| Equity | 10/15 | €665,586 | €721,284 | +€55,698 | +8.4% |
| 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 | €603,586 | €659,284 | +€55,698 | +9.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €597,386 | €653,084 | +€55,698 | +9.3% |
| Amounts payable | 17/49 | €432,828 | €409,674 | -€23,154 | -5.3% |
| Amounts payable after more than one year | 17 | €63,710 | €43,224 | -€20,486 | -32.2% |
| Financial debts | 170/4 | €63,710 | €43,224 | -€20,486 | -32.2% |
| Amounts payable within one year | 42/48 | €369,118 | €366,450 | -€2,668 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €19,771 | €20,486 | +€716 | +3.6% |
| Trade debts | 44 | €38,145 | €11,937 | -€26,207 | -68.7% |
| Suppliers | 440/4 | €38,145 | €11,937 | -€26,207 | -68.7% |
| Taxes, remuneration and social security | 45 | €19,008 | €16,486 | -€2,522 | -13.3% |
| Taxes | 450/3 | €15,923 | €16,486 | +€562 | +3.5% |
| Remuneration and social security | 454/9 | €3,084 | - | -€3,084 | |
| Other amounts payable | 47/48 | €292,195 | €317,541 | +€25,346 | +8.7% |
| Remuneration, social security and pensions | 62 | €48,619 | €6,115 | -€42,504 | -87.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,287 | €16,940 | -€2,347 | -12.2% |
| Other operating charges | 640/8 | €428 | €487 | +€59 | +13.8% |
| Gross operating margin | 9900 | €164,127 | €120,773 | -€43,354 | -26.4% |
| Operating profit (loss) | 9901 | €95,793 | €97,231 | +€1,438 | +1.5% |
| Financial income | 75/76B | €668 | €9,291 | +€8,622 | +1289.8% |
| Recurring financial income | 75 | €668 | €9,291 | +€8,622 | +1289.8% |
| Financial charges | 65/66B | €28,126 | €24,454 | -€3,673 | -13.1% |
| Recurring financial charges | 65 | €28,126 | €24,454 | -€3,673 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €68,335 | €82,068 | +€13,733 | +20.1% |
| Income taxes | 67/77 | €22,367 | €26,370 | +€4,003 | +17.9% |
| Profit (loss) for the period | 9904 | €45,969 | €55,698 | +€9,729 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,969 | €55,698 | +€9,729 | +21.2% |
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 10 October 2026 via checked.be.