GIPI: 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.
GIPI
Largest movements
- Tangible fixed assets -€6,707
down €6,707 (-6.5%), from €103,033 to €96,327
of which Land and buildings: -€8,263
- Cash -€2,677
down €2,677 (-2.2%), from €124,442 to €121,766
mainly Other debts (-€13,762) and Investment in fixed assets (net) (-€2,674)
- Other debts -€13,762
down €13,762 (-75.4%), from €18,247 to €4,486
- Profit (loss) carried forward +€9,011
up €9,011 (+4.7%), from €190,981 to €199,992
- Gross operating margin +€4,591
up €4,591 (+20.6%), from €22,325 to €26,916
- Depreciation -€2,590
down €2,590 (-21.6%), from €11,970 to €9,381
- Taxes +€480
up €480 (+26.4%), from €1,821 to €2,302
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 | €236,914 | €229,868 | -€7,046 | -3.0% |
| Fixed assets | 21/28 | €108,519 | €101,813 | -€6,707 | -6.2% |
| Tangible fixed assets | 22/27 | €103,033 | €96,327 | -€6,707 | -6.5% |
| Land and buildings | 22 | €101,056 | €92,794 | -€8,263 | -8.2% |
| Plant, machinery and equipment | 23 | €1,017 | €2,975 | +€1,958 | +192.6% |
| Furniture and vehicles | 24 | €960 | €559 | -€402 | -41.8% |
| Financial fixed assets | 28 | €5,486 | €5,486 | = | 0.0% |
| Current assets | 29/58 | €128,394 | €128,055 | -€340 | -0.3% |
| Amounts receivable within one year | 40/41 | €3,127 | €3,127 | = | 0.0% |
| Trade receivables | 40 | €3,127 | €3,127 | = | 0.0% |
| Other amounts receivable | 41 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €124,442 | €121,766 | -€2,677 | -2.2% |
| Deferred charges and accrued income | 490/1 | €825 | €3,162 | +€2,337 | +283.4% |
| Total equity and liabilities | 10/49 | €236,914 | €229,868 | -€7,046 | -3.0% |
| Equity | 10/15 | €212,400 | €221,411 | +€9,011 | +4.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,827 | €2,827 | = | 0.0% |
| Distributable reserves | 133 | €2,827 | €2,827 | = | 0.0% |
| Profit (loss) carried forward | 14 | €190,981 | €199,992 | +€9,011 | +4.7% |
| Amounts payable | 17/49 | €24,514 | €8,456 | -€16,057 | -65.5% |
| Amounts payable within one year | 42/48 | €24,514 | €8,456 | -€16,057 | -65.5% |
| Current portion of amounts payable after more than one year | 42 | €2,332 | - | -€2,332 | |
| Trade debts | 44 | €1,548 | €1,584 | +€36 | +2.3% |
| Suppliers | 440/4 | €1,548 | €1,584 | +€36 | +2.3% |
| Taxes, remuneration and social security | 45 | €2,387 | €2,387 | = | 0.0% |
| Taxes | 450/3 | €2,387 | €2,387 | = | 0.0% |
| Other amounts payable | 47/48 | €18,247 | €4,486 | -€13,762 | -75.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,970 | €9,381 | -€2,590 | -21.6% |
| Other operating charges | 640/8 | €5,888 | €6,119 | +€231 | +3.9% |
| Gross operating margin | 9900 | €22,325 | €26,916 | +€4,591 | +20.6% |
| Operating profit (loss) | 9901 | €4,466 | €11,416 | +€6,950 | +155.6% |
| Financial charges | 65/66B | €203 | €104 | -€99 | -48.7% |
| Recurring financial charges | 65 | €203 | €104 | -€99 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €4,264 | €11,312 | +€7,049 | +165.3% |
| Income taxes | 67/77 | €1,821 | €2,302 | +€480 | +26.4% |
| Profit (loss) for the period | 9904 | €2,442 | €9,011 | +€6,569 | +268.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,442 | €9,011 | +€6,569 | +268.9% |
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 6 October 2026 via checked.be.