GIRONI: 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.
GIRONI
Largest movements
- Receivables within one year +€77,757
up €77,757 (+39.6%), from €196,244 to €274,001
of which Trade receivables: +€51,624
- Tangible fixed assets +€52,851
up €52,851 (+251%), from €21,051 to €73,902
of which Plant, machinery and equipment: +€47,170
- Trade debts +€52,158
up €52,158 (+87.9%), from €59,354 to €111,513
- Profit (loss) carried forward +€40,103
up €40,103 (+93.5%), from €42,892 to €82,995
- Advances received +€33,203
up €33,203 (+62.2%), from €53,346 to €86,550
- Tax, wage and social debts +€12,382
up €12,382 (+251%), from €4,926 to €17,308
- Current portion of long-term debt -€6,326
down €6,326 (-57.1%), from €11,082 to €4,756
- Gross operating margin +€59,972
up €59,972 (+192%), from €31,304 to €91,275
- Staff costs +€15,469
new in 2025: €15,469
- Taxes +€13,329
up €13,329 (+464%), from €2,873 to €16,202
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 | €270,162 | €401,733 | +€131,571 | +48.7% |
| Fixed assets | 21/28 | €22,701 | €76,884 | +€54,183 | +239% |
| Tangible fixed assets | 22/27 | €21,051 | €73,902 | +€52,851 | +251% |
| Plant, machinery and equipment | 23 | €21,051 | €68,221 | +€47,170 | +224% |
| Furniture and vehicles | 24 | - | €5,681 | +€5,681 | |
| Financial fixed assets | 28 | €1,650 | €2,982 | +€1,332 | +80.7% |
| Current assets | 29/58 | €247,462 | €324,849 | +€77,388 | +31.3% |
| Stocks and contracts in progress | 3 | €40,000 | €40,000 | = | 0.0% |
| Stocks | 30/36 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €196,244 | €274,001 | +€77,757 | +39.6% |
| Trade receivables | 40 | €162,723 | €214,348 | +€51,624 | +31.7% |
| Other amounts receivable | 41 | €33,521 | €59,654 | +€26,132 | +78.0% |
| Cash at bank and in hand | 54/58 | €948 | €933 | -€15 | -1.6% |
| Deferred charges and accrued income | 490/1 | €10,269 | €9,915 | -€354 | -3.4% |
| Total equity and liabilities | 10/49 | €270,162 | €401,733 | +€131,571 | +48.7% |
| Equity | 10/15 | €63,352 | €103,455 | +€40,103 | +63.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,892 | €82,995 | +€40,103 | +93.5% |
| Amounts payable | 17/49 | €206,811 | €298,278 | +€91,468 | +44.2% |
| Amounts payable after more than one year | 17 | €46,617 | €47,861 | +€1,244 | +2.7% |
| Financial debts | 170/4 | €46,617 | €47,861 | +€1,244 | +2.7% |
| Amounts payable within one year | 42/48 | €160,194 | €250,418 | +€90,224 | +56.3% |
| Current portion of amounts payable after more than one year | 42 | €11,082 | €4,756 | -€6,326 | -57.1% |
| Financial debts | 43 | €20,754 | €19,561 | -€1,193 | -5.8% |
| Credit institutions | 430/8 | €20,754 | €19,561 | -€1,193 | -5.8% |
| Trade debts | 44 | €59,354 | €111,513 | +€52,158 | +87.9% |
| Suppliers | 440/4 | €59,354 | €111,513 | +€52,158 | +87.9% |
| Advances received on contracts in progress | 46 | €53,346 | €86,550 | +€33,203 | +62.2% |
| Taxes, remuneration and social security | 45 | €4,926 | €17,308 | +€12,382 | +251% |
| Taxes | 450/3 | €4,926 | €17,308 | +€12,382 | +251% |
| Other amounts payable | 47/48 | €10,731 | €10,731 | = | 0.0% |
| Non-recurring operating income | 76A | €5,785 | - | -€5,785 | |
| Remuneration, social security and pensions | 62 | - | €15,469 | +€15,469 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,130 | €8,346 | +€217 | +2.7% |
| Other operating charges | 640/8 | €2,918 | €3,644 | +€725 | +24.9% |
| Gross operating margin | 9900 | €31,304 | €91,275 | +€59,972 | +192% |
| Operating profit (loss) | 9901 | €20,255 | €63,816 | +€43,560 | +215% |
| Financial income | 75/76B | €35 | €855 | +€820 | +2,370% |
| Recurring financial income | 75 | €35 | €855 | +€820 | +2,370% |
| Financial charges | 65/66B | €7,841 | €8,366 | +€525 | +6.7% |
| Recurring financial charges | 65 | €7,203 | €8,116 | +€913 | +12.7% |
| Non-recurring financial charges | 66B | €638 | €250 | -€388 | -60.8% |
| Profit (loss) for the period before taxes | 9903 | €12,449 | €56,305 | +€43,856 | +352% |
| Income taxes | 67/77 | €2,873 | €16,202 | +€13,329 | +464% |
| Profit (loss) for the period | 9904 | €9,576 | €40,103 | +€30,527 | +319% |
| Profit (loss) for the period to be appropriated | 9905 | €9,576 | €40,103 | +€30,527 | +319% |
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 28 October 2026 via checked.be.