Giraf: 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.
Giraf
Largest movements
- Receivables within one year +€11,374
up €11,374 (+142.4%), from €7,986 to €19,360
- Cash +€9,214
up €9,214 (+124.5%), from €7,398 to €16,612
mainly Net result for the year (+€17,367) and Depreciation (+€16,692)
- Tangible fixed assets -€5,869
down €5,869 (-9.1%), from €64,253 to €58,384
- Reserves +€16,996
up €16,996 (+68.2%), from €24,906 to €41,902
of which Distributable reserves: +€16,996
- Trade debts -€6,658
no longer reported in 2025 (was €6,658)
- Debts after one year -€5,679
down €5,679 (-21.0%), from €26,990 to €21,311
- Current portion of long-term debt +€5,378
up €5,378 (+65.4%), from €8,218 to €13,596
- Tax, wage and social debts +€4,379
up €4,379 (+111.8%), from €3,918 to €8,297
- Gross operating margin +€21,217
up €21,217 (+116.3%), from €18,243 to €39,460
- Taxes +€3,094
new in 2025: €3,094
- Depreciation +€688
up €688 (+4.3%), from €16,004 to €16,692
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 | €79,637 | €94,356 | +€14,719 | +18.5% |
| Fixed assets | 21/28 | €64,253 | €58,384 | -€5,869 | -9.1% |
| Tangible fixed assets | 22/27 | €64,253 | €58,384 | -€5,869 | -9.1% |
| Land and buildings | 22 | €8,523 | €6,799 | -€1,725 | -20.2% |
| Plant, machinery and equipment | 23 | €6,189 | €4,442 | -€1,748 | -28.2% |
| Furniture and vehicles | 24 | €49,540 | €47,143 | -€2,397 | -4.8% |
| Current assets | 29/58 | €15,384 | €35,972 | +€20,588 | +133.8% |
| Amounts receivable within one year | 40/41 | €7,986 | €19,360 | +€11,374 | +142.4% |
| Trade receivables | 40 | €7,986 | €19,360 | +€11,374 | +142.4% |
| Cash at bank and in hand | 54/58 | €7,398 | €16,612 | +€9,214 | +124.5% |
| Total equity and liabilities | 10/49 | €79,637 | €94,356 | +€14,719 | +18.5% |
| Equity | 10/15 | €27,536 | €44,902 | +€17,367 | +63.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €24,906 | €41,902 | +€16,996 | +68.2% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €300 | €300 | = | 0.0% |
| Distributable reserves | 133 | €24,606 | €41,602 | +€16,996 | +69.1% |
| Profit (loss) carried forward | 14 | -€371 | - | +€371 | |
| Amounts payable | 17/49 | €52,101 | €49,453 | -€2,648 | -5.1% |
| Amounts payable after more than one year | 17 | €26,990 | €21,311 | -€5,679 | -21.0% |
| Financial debts | 170/4 | €26,990 | €21,311 | -€5,679 | -21.0% |
| Amounts payable within one year | 42/48 | €25,111 | €28,142 | +€3,031 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €8,218 | €13,596 | +€5,378 | +65.4% |
| Trade debts | 44 | €6,658 | - | -€6,658 | |
| Suppliers | 440/4 | €6,658 | - | -€6,658 | |
| Taxes, remuneration and social security | 45 | €3,918 | €8,297 | +€4,379 | +111.8% |
| Taxes | 450/3 | €3,918 | €8,297 | +€4,379 | +111.8% |
| Other amounts payable | 47/48 | €6,317 | €6,249 | -€68 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,004 | €16,692 | +€688 | +4.3% |
| Other operating charges | 640/8 | €646 | €549 | -€97 | -15.0% |
| Gross operating margin | 9900 | €18,243 | €39,460 | +€21,217 | +116.3% |
| Operating profit (loss) | 9901 | €1,593 | €22,219 | +€20,626 | +1295.0% |
| Financial charges | 65/66B | €1,963 | €1,759 | -€205 | -10.4% |
| Recurring financial charges | 65 | €1,963 | €1,759 | -€205 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | -€371 | €20,460 | +€20,831 | |
| Income taxes | 67/77 | - | €3,094 | +€3,094 | |
| Profit (loss) for the period | 9904 | -€371 | €17,367 | +€17,737 | |
| Profit (loss) for the period to be appropriated | 9905 | -€371 | €17,367 | +€17,737 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.