GIRENO: 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.
GIRENO
Largest movements
- Tangible fixed assets +€18,820
up €18,820 (+213%), from €8,831 to €27,651
of which Leasing and similar rights: +€16,899
- Cash -€13,171
down €13,171 (-36.6%), from €36,033 to €22,862
mainly Investment in fixed assets (net) (-€29,251) and Receivables within one year (-€4,365)
- Receivables within one year +€4,365
up €4,365 (+30.6%), from €14,251 to €18,615
of which Other amounts receivable: +€2,209
- Deferred charges and accrued income +€4,022
up €4,022 (+161%), from €2,497 to €6,519
- Stocks and contracts -€1,373
down €1,373 (-62.0%), from €2,216 to €843
- Debts after one year +€7,340
new in 2025: €7,340
- Current portion of long-term debt +€6,501
new in 2025: €6,501
- Tax, wage and social debts +€4,092
up €4,092 (+45.7%), from €8,957 to €13,049
of which Taxes: +€4,092
- Other debts -€3,842
down €3,842 (-64.7%), from €5,941 to €2,099
- Profit (loss) carried forward -€2,886
new in 2025: -€2,886
- Purchases and services +€128,035
new in 2025: €128,035
- Turnover +€117,503
new in 2025: €117,503
- Depreciation +€8,158
up €8,158 (+359%), from €2,273 to €10,431
- Gross operating margin -€5,328
down €5,328 (-37.1%), from €14,351 to €9,023
- Taxes -€3,118
down €3,118 (-100%), from €3,118 to €0
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 | €63,828 | €76,490 | +€12,662 | +19.8% |
| Fixed assets | 21/28 | €8,831 | €27,651 | +€18,820 | +213% |
| Tangible fixed assets | 22/27 | €8,831 | €27,651 | +€18,820 | +213% |
| Land and buildings | 22 | €1,213 | €651 | -€562 | -46.3% |
| Plant, machinery and equipment | 23 | €5,358 | €8,745 | +€3,387 | +63.2% |
| Furniture and vehicles | 24 | €2,260 | €1,356 | -€904 | -40.0% |
| Leasing and similar rights | 25 | - | €16,899 | +€16,899 | |
| Current assets | 29/58 | €54,997 | €48,840 | -€6,158 | -11.2% |
| Stocks and contracts in progress | 3 | €2,216 | €843 | -€1,373 | -62.0% |
| Stocks | 30/36 | €2,216 | €843 | -€1,373 | -62.0% |
| Amounts receivable within one year | 40/41 | €14,251 | €18,615 | +€4,365 | +30.6% |
| Trade receivables | 40 | €12,536 | €14,691 | +€2,155 | +17.2% |
| Other amounts receivable | 41 | €1,715 | €3,924 | +€2,209 | +129% |
| Cash at bank and in hand | 54/58 | €36,033 | €22,862 | -€13,171 | -36.6% |
| Deferred charges and accrued income | 490/1 | €2,497 | €6,519 | +€4,022 | +161% |
| Total equity and liabilities | 10/49 | €63,828 | €76,490 | +€12,662 | +19.8% |
| Equity | 10/15 | €47,069 | €43,990 | -€3,078 | -6.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €22,069 | €21,877 | -€192 | -0.9% |
| Tax-exempt reserves | 132 | €192 | €0 | -€192 | -100% |
| Distributable reserves | 133 | €21,877 | €21,877 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,886 | -€2,886 | |
| Amounts payable | 17/49 | €16,759 | €32,500 | +€15,741 | +93.9% |
| Amounts payable after more than one year | 17 | - | €7,340 | +€7,340 | |
| Financial debts | 170/4 | - | €7,340 | +€7,340 | |
| Amounts payable within one year | 42/48 | €16,312 | €25,160 | +€8,848 | +54.2% |
| Current portion of amounts payable after more than one year | 42 | - | €6,501 | +€6,501 | |
| Trade debts | 44 | €1,413 | €3,510 | +€2,097 | +148% |
| Suppliers | 440/4 | €1,413 | €3,510 | +€2,097 | +148% |
| Taxes, remuneration and social security | 45 | €8,957 | €13,049 | +€4,092 | +45.7% |
| Taxes | 450/3 | €6,957 | €11,049 | +€4,092 | +58.8% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €5,941 | €2,099 | -€3,842 | -64.7% |
| Accrued charges and deferred income | 492/3 | €448 | €0 | -€448 | -100% |
| Turnover | 70 | - | €117,503 | +€117,503 | |
| Non-recurring operating income | 76A | - | €8,500 | +€8,500 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €128,035 | +€128,035 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,273 | €10,431 | +€8,158 | +359% |
| Other operating charges | 640/8 | €684 | €706 | +€21 | +3.1% |
| Gross operating margin | 9900 | €14,351 | €9,023 | -€5,328 | -37.1% |
| Operating profit (loss) | 9901 | €11,394 | -€2,114 | -€13,508 | |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €533 | €972 | +€439 | +82.3% |
| Recurring financial charges | 65 | €533 | €972 | +€439 | +82.3% |
| Profit (loss) for the period before taxes | 9903 | €10,860 | -€3,078 | -€13,939 | |
| Income taxes | 67/77 | €3,118 | €0 | -€3,118 | -100% |
| Profit (loss) for the period | 9904 | €7,742 | -€3,078 | -€10,821 | |
| Transfer from tax-exempt reserves | 789 | - | €192 | +€192 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,742 | -€2,886 | -€10,629 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.