GISLO: 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.
GISLO
Largest movements
- Current investments +€36,184
up €36,184 (+14.1%), from €257,087 to €293,271
- Receivables within one year +€28,909
up €28,909 (+511.2%), from €5,656 to €34,565
of which Other amounts receivable: +€26,635
- Cash -€13,828
down €13,828 (-15.1%), from €91,619 to €77,792
mainly Contributions, distributions and other (-€88,729) and Current investments (-€36,184)
- Tangible fixed assets -€6,083
down €6,083 (-6.2%), from €98,532 to €92,449
of which Plant, machinery and equipment: -€8,319
- Reserves +€49,252
up €49,252 (+13.2%), from €374,206 to €423,458
- Trade debts +€11,042
up €11,042 (+62.6%), from €17,653 to €28,695
- Debts after one year -€9,745
down €9,745 (-45.1%), from €21,596 to €11,851
- Gross operating margin +€67,992
up €67,992 (+25.9%), from €262,862 to €330,853
- Staff costs +€25,434
up €25,434 (+37.2%), from €68,362 to €93,796
- Taxes +€11,805
up €11,805 (+24.1%), from €48,967 to €60,773
- Other operating charges -€6,274
down €6,274 (-39.5%), from €15,880 to €9,606
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 | €476,776 | €527,987 | +€51,211 | +10.7% |
| Fixed assets | 21/28 | €103,682 | €97,599 | -€6,083 | -5.9% |
| Tangible fixed assets | 22/27 | €98,532 | €92,449 | -€6,083 | -6.2% |
| Plant, machinery and equipment | 23 | €35,860 | €27,541 | -€8,319 | -23.2% |
| Furniture and vehicles | 24 | €60,400 | €63,393 | +€2,993 | +5.0% |
| Other tangible fixed assets | 26 | €2,272 | €1,515 | -€757 | -33.3% |
| Financial fixed assets | 28 | €5,150 | €5,150 | = | 0.0% |
| Current assets | 29/58 | €373,094 | €430,388 | +€57,294 | +15.4% |
| Stocks and contracts in progress | 3 | €17,457 | €21,447 | +€3,990 | +22.9% |
| Stocks | 30/36 | €17,457 | €21,447 | +€3,990 | +22.9% |
| Amounts receivable within one year | 40/41 | €5,656 | €34,565 | +€28,909 | +511.2% |
| Trade receivables | 40 | €4,164 | €6,438 | +€2,274 | +54.6% |
| Other amounts receivable | 41 | €1,492 | €28,127 | +€26,635 | +1785.6% |
| Current investments | 50/53 | €257,087 | €293,271 | +€36,184 | +14.1% |
| Cash at bank and in hand | 54/58 | €91,619 | €77,792 | -€13,828 | -15.1% |
| Deferred charges and accrued income | 490/1 | €1,275 | €3,313 | +€2,038 | +159.8% |
| Total equity and liabilities | 10/49 | €476,776 | €527,987 | +€51,211 | +10.7% |
| Equity | 10/15 | €374,206 | €423,458 | +€49,252 | +13.2% |
| Reserves | 13 | €374,206 | €423,458 | +€49,252 | +13.2% |
| Distributable reserves | 133 | €374,206 | €423,458 | +€49,252 | +13.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €102,570 | €104,529 | +€1,958 | +1.9% |
| Amounts payable after more than one year | 17 | €21,596 | €11,851 | -€9,745 | -45.1% |
| Financial debts | 170/4 | €21,596 | €11,851 | -€9,745 | -45.1% |
| Amounts payable within one year | 42/48 | €79,775 | €91,899 | +€12,124 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €9,843 | €9,745 | -€98 | -1.0% |
| Trade debts | 44 | €17,653 | €28,695 | +€11,042 | +62.6% |
| Suppliers | 440/4 | €17,653 | €28,695 | +€11,042 | +62.6% |
| Taxes, remuneration and social security | 45 | €52,244 | €53,459 | +€1,215 | +2.3% |
| Taxes | 450/3 | €43,651 | €47,893 | +€4,242 | +9.7% |
| Remuneration and social security | 454/9 | €8,593 | €5,566 | -€3,028 | -35.2% |
| Other amounts payable | 47/48 | €35 | €0 | -€35 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,199 | €779 | -€420 | -35.0% |
| Non-recurring operating income | 76A | €601 | €600 | -€2 | -0.3% |
| Remuneration, social security and pensions | 62 | €68,362 | €93,796 | +€25,434 | +37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,430 | €27,529 | +€3,098 | +12.7% |
| Other operating charges | 640/8 | €15,880 | €9,606 | -€6,274 | -39.5% |
| Non-recurring operating charges | 66A | €5,033 | €0 | -€5,033 | -100.0% |
| Gross operating margin | 9900 | €262,862 | €330,853 | +€67,992 | +25.9% |
| Operating profit (loss) | 9901 | €149,157 | €199,923 | +€50,766 | +34.0% |
| Financial income | 75/76B | €1,149 | €2,576 | +€1,426 | +124.1% |
| Recurring financial income | 75 | €1,149 | €2,576 | +€1,426 | +124.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,467 | €3,744 | +€277 | +8.0% |
| Recurring financial charges | 65 | €3,467 | €3,744 | +€277 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | €146,839 | €198,754 | +€51,915 | +35.4% |
| Income taxes | 67/77 | €48,967 | €60,773 | +€11,805 | +24.1% |
| Profit (loss) for the period | 9904 | €97,872 | €137,982 | +€40,110 | +41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,872 | €137,982 | +€40,110 | +41.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.