GIPOP: 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.
GIPOP
Largest movements
- Tangible fixed assets +€88,138
up €88,138 (+3,037%), from €2,902 to €91,040
of which Furniture and vehicles: +€88,750
- Receivables within one year -€68,778
down €68,778 (-62.7%), from €109,778 to €41,000
of which Other amounts receivable: -€81,000
- Financial fixed assets -€19,312
down €19,312 (-1.6%), from €1.2m to €1.2m
- Reserves +€120,714
up €120,714 (+37.6%), from €321,199 to €441,913
- Debts after one year -€111,932
down €111,932 (-15.2%), from €737,299 to €625,367
of which Other amounts payable: -€86,725
- Tax, wage and social debts -€38,152
down €38,152 (-73.1%), from €52,170 to €14,018
of which Taxes: -€36,227
- Current portion of long-term debt +€19,523
up €19,523 (+23.2%), from €84,105 to €103,628
- Financial income -€178,721
down €178,721 (-65.0%), from €275,000 to €96,279
- Taxes -€27,125
down €27,125 (-72.3%), from €37,524 to €10,399
- Gross operating margin -€23,402
down €23,402 (-19.8%), from €117,978 to €94,575
- Depreciation +€18,729
up €18,729 (+1,204%), from €1,556 to €20,285
- Financial charges +€5,696
up €5,696 (+18.2%), from €31,216 to €36,911
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 | €1,303,514 | €1,304,604 | +€1,090 | +0.1% |
| Fixed assets | 21/28 | €1,174,181 | €1,243,006 | +€68,825 | +5.9% |
| Tangible fixed assets | 22/27 | €2,902 | €91,040 | +€88,138 | +3,037% |
| Plant, machinery and equipment | 23 | €2,902 | €2,290 | -€612 | -21.1% |
| Furniture and vehicles | 24 | - | €88,750 | +€88,750 | |
| Financial fixed assets | 28 | €1,171,279 | €1,151,966 | -€19,312 | -1.6% |
| Current assets | 29/58 | €129,334 | €61,598 | -€67,735 | -52.4% |
| Amounts receivable within one year | 40/41 | €109,778 | €41,000 | -€68,778 | -62.7% |
| Trade receivables | 40 | €27,278 | €39,500 | +€12,222 | +44.8% |
| Other amounts receivable | 41 | €82,500 | €1,500 | -€81,000 | -98.2% |
| Cash at bank and in hand | 54/58 | €19,556 | €20,598 | +€1,042 | +5.3% |
| Total equity and liabilities | 10/49 | €1,303,514 | €1,304,604 | +€1,090 | +0.1% |
| Equity | 10/15 | €421,199 | €541,913 | +€120,714 | +28.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €321,199 | €441,913 | +€120,714 | +37.6% |
| Distributable reserves | 133 | €321,199 | €441,913 | +€120,714 | +37.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €882,315 | €762,692 | -€119,624 | -13.6% |
| Amounts payable after more than one year | 17 | €737,299 | €625,367 | -€111,932 | -15.2% |
| Financial debts | 170/4 | €553,551 | €528,344 | -€25,208 | -4.6% |
| Other amounts payable | 178/9 | €183,748 | €97,023 | -€86,725 | -47.2% |
| Amounts payable within one year | 42/48 | €140,224 | €122,012 | -€18,212 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €84,105 | €103,628 | +€19,523 | +23.2% |
| Trade debts | 44 | €3,115 | €3,532 | +€417 | +13.4% |
| Suppliers | 440/4 | €3,115 | €3,532 | +€417 | +13.4% |
| Taxes, remuneration and social security | 45 | €52,170 | €14,018 | -€38,152 | -73.1% |
| Taxes | 450/3 | €50,245 | €14,018 | -€36,227 | -72.1% |
| Remuneration and social security | 454/9 | €1,925 | €0 | -€1,925 | -100% |
| Other amounts payable | 47/48 | €833 | €833 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,793 | €15,313 | +€10,521 | +220% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,556 | €20,285 | +€18,729 | +1,204% |
| Other operating charges | 640/8 | €651 | €1,713 | +€1,062 | +163% |
| Gross operating margin | 9900 | €117,978 | €94,575 | -€23,402 | -19.8% |
| Operating profit (loss) | 9901 | €115,771 | €72,578 | -€43,193 | -37.3% |
| Financial income | 75/76B | €275,000 | €96,279 | -€178,721 | -65.0% |
| Recurring financial income | 75 | €275,000 | €96,279 | -€178,721 | -65.0% |
| Financial charges | 65/66B | €31,216 | €36,911 | +€5,696 | +18.2% |
| Recurring financial charges | 65 | €31,216 | €36,911 | +€5,696 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €359,556 | €131,946 | -€227,610 | -63.3% |
| Income taxes | 67/77 | €37,524 | €10,399 | -€27,125 | -72.3% |
| Profit (loss) for the period | 9904 | €322,032 | €121,547 | -€200,485 | -62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €322,032 | €121,547 | -€200,485 | -62.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.