GISMACO: 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.
GISMACO
Largest movements
- Current investments +€100,000
up €100,000 (+12.5%), from €800,000 to €900,000
- Cash +€48,041
up €48,041 (+153.7%), from €31,264 to €79,306
mainly Other debts (+€164,737) and Net result for the year (+€53,374)
- Tangible fixed assets -€20,024
down €20,024 (-2.0%), from €996,662 to €976,638
- Other debts +€164,737
up €164,737 (+72.7%), from €226,478 to €391,215
- Debts after one year -€51,282
down €51,282 (-11.7%), from €440,171 to €388,889
- Depreciation -€39,235
down €39,235 (-63.9%), from €61,430 to €22,196
- Financial income -€23,908
down €23,908 (-55.7%), from €42,913 to €19,005
- Gross operating margin +€18,107
up €18,107 (+17.6%), from €102,653 to €120,760
- Financial charges +€15,070
up €15,070 (+55.7%), from €27,038 to €42,107
- Taxes +€5,797
up €5,797 (+39.5%), from €14,686 to €20,483
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 | €1,858,453 | €1,966,275 | +€107,822 | +5.8% |
| Fixed assets | 21/28 | €996,662 | €976,638 | -€20,024 | -2.0% |
| Tangible fixed assets | 22/27 | €996,662 | €976,638 | -€20,024 | -2.0% |
| Land and buildings | 22 | €996,662 | €976,638 | -€20,024 | -2.0% |
| Current assets | 29/58 | €861,791 | €989,637 | +€127,845 | +14.8% |
| Amounts receivable within one year | 40/41 | €20,644 | €4,000 | -€16,644 | -80.6% |
| Trade receivables | 40 | €2,244 | - | -€2,244 | |
| Other amounts receivable | 41 | €18,400 | €4,000 | -€14,400 | -78.3% |
| Current investments | 50/53 | €800,000 | €900,000 | +€100,000 | +12.5% |
| Cash at bank and in hand | 54/58 | €31,264 | €79,306 | +€48,041 | +153.7% |
| Deferred charges and accrued income | 490/1 | €9,883 | €6,331 | -€3,552 | -35.9% |
| Total equity and liabilities | 10/49 | €1,858,453 | €1,966,275 | +€107,822 | +5.8% |
| Equity | 10/15 | €1,010,874 | €1,005,286 | -€5,588 | -0.6% |
| Contributions | 10/11 | €362,400 | €362,400 | = | 0.0% |
| Reserves | 13 | €648,474 | €642,886 | -€5,588 | -0.9% |
| Tax-exempt reserves | 132 | €300,957 | €295,369 | -€5,588 | -1.9% |
| Distributable reserves | 133 | €347,516 | €347,516 | = | 0.0% |
| Provisions and deferred taxes | 16 | €100,319 | €98,456 | -€1,863 | -1.9% |
| Deferred taxes | 168 | €100,319 | €98,456 | -€1,863 | -1.9% |
| Amounts payable | 17/49 | €747,260 | €862,533 | +€115,273 | +15.4% |
| Amounts payable after more than one year | 17 | €440,171 | €388,889 | -€51,282 | -11.7% |
| Financial debts | 170/4 | €440,171 | €388,889 | -€51,282 | -11.7% |
| Amounts payable within one year | 42/48 | €288,920 | €457,565 | +€168,645 | +58.4% |
| Current portion of amounts payable after more than one year | 42 | €51,282 | €51,282 | = | 0.0% |
| Trade debts | 44 | €570 | €1,083 | +€512 | +89.9% |
| Suppliers | 440/4 | €570 | €1,083 | +€512 | +89.9% |
| Taxes, remuneration and social security | 45 | €10,589 | €13,985 | +€3,396 | +32.1% |
| Taxes | 450/3 | €10,589 | €13,985 | +€3,396 | +32.1% |
| Other amounts payable | 47/48 | €226,478 | €391,215 | +€164,737 | +72.7% |
| Accrued charges and deferred income | 492/3 | €18,170 | €16,079 | -€2,090 | -11.5% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,430 | €22,196 | -€39,235 | -63.9% |
| Other operating charges | 640/8 | €2,429 | €3,467 | +€1,039 | +42.8% |
| Gross operating margin | 9900 | €102,653 | €120,760 | +€18,107 | +17.6% |
| Operating profit (loss) | 9901 | €38,794 | €95,097 | +€56,303 | +145.1% |
| Financial income | 75/76B | €42,913 | €19,005 | -€23,908 | -55.7% |
| Recurring financial income | 75 | €42,913 | €19,005 | -€23,908 | -55.7% |
| Financial charges | 65/66B | €27,038 | €42,107 | +€15,070 | +55.7% |
| Recurring financial charges | 65 | €27,038 | €42,107 | +€15,070 | +55.7% |
| Profit (loss) for the period before taxes | 9903 | €54,670 | €71,995 | +€17,325 | +31.7% |
| Transfer from deferred taxes | 780 | €387 | €1,863 | +€1,475 | +381.0% |
| Income taxes | 67/77 | €14,686 | €20,483 | +€5,797 | +39.5% |
| Profit (loss) for the period | 9904 | €40,371 | €53,374 | +€13,003 | +32.2% |
| Transfer from tax-exempt reserves | 789 | €1,162 | €5,588 | +€4,426 | +381.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,533 | €58,962 | +€17,429 | +42.0% |
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 4 October 2026 via checked.be.