GIRTOP: 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.
GIRTOP
Largest movements
- Receivables within one year -€25,101
down €25,101 (-34.3%), from €73,284 to €48,183
of which Trade receivables: -€23,807
- Cash +€20,236
up €20,236 (+138%), from €14,700 to €34,937
mainly Receivables within one year (+€25,101) and Other debts (+€24,869)
- Tangible fixed assets -€5,239
down €5,239 (-31.1%), from €16,830 to €11,591
of which Furniture and vehicles: -€4,844
- Deferred charges and accrued income +€2,559
up €2,559 (+39.4%), from €6,488 to €9,047
- Reserves -€25,000
down €25,000 (-62.7%), from €39,856 to €14,856
- Other debts +€24,869
up €24,869 (+55.4%), from €44,868 to €69,736
- Tax, wage and social debts -€6,017
down €6,017 (-54.8%), from €10,985 to €4,968
of which Remuneration and social security: -€4,245
- Trade debts -€3,968
down €3,968 (-69.9%), from €5,679 to €1,711
- Profit (loss) carried forward +€1,344
up €1,344 (+12.5%), from -€10,762 to -€9,419
- Gross operating margin +€13,683
up €13,683, from -€1,716 to €11,968
- Financial charges +€1,230
up €1,230 (+53.5%), from €2,298 to €3,528
- Financial income -€294
down €294 (-94.0%), from €313 to €19
- Other operating charges -€179
down €179 (-12.3%), from €1,450 to €1,271
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 | €111,303 | €103,757 | -€7,545 | -6.8% |
| Fixed assets | 21/28 | €16,830 | €11,591 | -€5,239 | -31.1% |
| Tangible fixed assets | 22/27 | €16,830 | €11,591 | -€5,239 | -31.1% |
| Plant, machinery and equipment | 23 | €815 | €419 | -€395 | -48.5% |
| Furniture and vehicles | 24 | €16,016 | €11,172 | -€4,844 | -30.2% |
| Current assets | 29/58 | €94,472 | €92,166 | -€2,306 | -2.4% |
| Amounts receivable within one year | 40/41 | €73,284 | €48,183 | -€25,101 | -34.3% |
| Trade receivables | 40 | €70,625 | €46,818 | -€23,807 | -33.7% |
| Other amounts receivable | 41 | €2,658 | €1,365 | -€1,294 | -48.7% |
| Cash at bank and in hand | 54/58 | €14,700 | €34,937 | +€20,236 | +138% |
| Deferred charges and accrued income | 490/1 | €6,488 | €9,047 | +€2,559 | +39.4% |
| Total equity and liabilities | 10/49 | €111,303 | €103,757 | -€7,545 | -6.8% |
| Equity | 10/15 | €47,694 | €24,038 | -€23,656 | -49.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,856 | €14,856 | -€25,000 | -62.7% |
| Distributable reserves | 133 | €39,856 | €14,856 | -€25,000 | -62.7% |
| Profit (loss) carried forward | 14 | -€10,762 | -€9,419 | +€1,344 | +12.5% |
| Amounts payable | 17/49 | €63,608 | €79,720 | +€16,111 | +25.3% |
| Amounts payable within one year | 42/48 | €61,531 | €76,415 | +€14,884 | +24.2% |
| Trade debts | 44 | €5,679 | €1,711 | -€3,968 | -69.9% |
| Suppliers | 440/4 | €5,679 | €1,711 | -€3,968 | -69.9% |
| Taxes, remuneration and social security | 45 | €10,985 | €4,968 | -€6,017 | -54.8% |
| Taxes | 450/3 | €4,183 | €2,411 | -€1,772 | -42.4% |
| Remuneration and social security | 454/9 | €6,802 | €2,557 | -€4,245 | -62.4% |
| Other amounts payable | 47/48 | €44,868 | €69,736 | +€24,869 | +55.4% |
| Accrued charges and deferred income | 492/3 | €2,077 | €3,305 | +€1,227 | +59.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,302 | €5,333 | +€31 | +0.6% |
| Other operating charges | 640/8 | €1,450 | €1,271 | -€179 | -12.3% |
| Non-recurring operating charges | 66A | - | €185 | +€185 | |
| Gross operating margin | 9900 | -€1,716 | €11,968 | +€13,683 | |
| Operating profit (loss) | 9901 | -€8,467 | €5,179 | +€13,647 | |
| Financial income | 75/76B | €313 | €19 | -€294 | -94.0% |
| Recurring financial income | 75 | €313 | €19 | -€294 | -94.0% |
| Financial charges | 65/66B | €2,298 | €3,528 | +€1,230 | +53.5% |
| Recurring financial charges | 65 | €2,298 | €3,528 | +€1,230 | +53.5% |
| Profit (loss) for the period before taxes | 9903 | -€10,453 | €1,669 | +€12,122 | |
| Income taxes | 67/77 | €310 | €326 | +€16 | +5.3% |
| Profit (loss) for the period | 9904 | -€10,762 | €1,344 | +€12,106 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,762 | €1,344 | +€12,106 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.