GISO: 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.
GISO
Largest movements
- Receivables within one year -€220,776
down €220,776 (-63.8%), from €346,142 to €125,366
of which Other amounts receivable: -€236,501
- Tangible fixed assets -€197,207
down €197,207 (-11.7%), from €1.7m to €1.5m
of which Land and buildings: -€185,987
- Cash -€115,197
down €115,197 (-95.4%), from €120,730 to €5,533
mainly Net result for the year (-€472,343) and Provisions (-€91,835)
- Reserves -€572,894
down €572,894 (-100%), from €572,894 to €0
- Profit (loss) carried forward +€181,359
up €181,359 (+160%), from €113,700 to €295,058
- Provisions -€91,835
down €91,835 (-100%), from €91,835 to €0
- Debts after one year -€48,177
down €48,177 (-4.8%), from €997,496 to €949,319
- Gross operating margin +€131,563
up €131,563 (+95.1%), from €138,411 to €269,974
- Taxes +€55,430
up €55,430, from €0 to €55,430
- Other operating charges +€31,393
up €31,393 (+167%), from €18,752 to €50,145
- Financial charges -€28,263
down €28,263 (-38.4%), from €73,538 to €45,275
- Depreciation -€11,251
down €11,251 (-11.4%), from €98,471 to €87,221
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 | €2,164,251 | €1,624,430 | -€539,822 | -24.9% |
| Fixed assets | 21/28 | €1,690,122 | €1,492,915 | -€197,207 | -11.7% |
| Tangible fixed assets | 22/27 | €1,690,122 | €1,492,915 | -€197,207 | -11.7% |
| Land and buildings | 22 | €1,661,973 | €1,475,986 | -€185,987 | -11.2% |
| Plant, machinery and equipment | 23 | €1,303 | €0 | -€1,303 | -100% |
| Furniture and vehicles | 24 | €26,845 | €16,929 | -€9,917 | -36.9% |
| Current assets | 29/58 | €474,130 | €131,515 | -€342,614 | -72.3% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €346,142 | €125,366 | -€220,776 | -63.8% |
| Trade receivables | 40 | €0 | €15,725 | +€15,725 | |
| Other amounts receivable | 41 | €346,142 | €109,641 | -€236,501 | -68.3% |
| Cash at bank and in hand | 54/58 | €120,730 | €5,533 | -€115,197 | -95.4% |
| Deferred charges and accrued income | 490/1 | €7,258 | €616 | -€6,642 | -91.5% |
| Total equity and liabilities | 10/49 | €2,164,251 | €1,624,430 | -€539,822 | -24.9% |
| Equity | 10/15 | €949,856 | €558,321 | -€391,535 | -41.2% |
| Contributions | 10/11 | €263,263 | €263,263 | = | 0.0% |
| Capital | 10 | €263,263 | €263,263 | = | 0.0% |
| Issued capital | 100 | €263,263 | €263,263 | = | 0.0% |
| Reserves | 13 | €572,894 | €0 | -€572,894 | -100% |
| Tax-exempt reserves | 132 | €572,894 | €0 | -€572,894 | -100% |
| Profit (loss) carried forward | 14 | €113,700 | €295,058 | +€181,359 | +160% |
| Provisions and deferred taxes | 16 | €91,835 | €0 | -€91,835 | -100% |
| Deferred taxes | 168 | €91,835 | €0 | -€91,835 | -100% |
| Amounts payable | 17/49 | €1,122,560 | €1,066,108 | -€56,452 | -5.0% |
| Amounts payable after more than one year | 17 | €997,496 | €949,319 | -€48,177 | -4.8% |
| Financial debts | 170/4 | €997,496 | €949,319 | -€48,177 | -4.8% |
| Amounts payable within one year | 42/48 | €125,064 | €116,790 | -€8,274 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €28,615 | €39,159 | +€10,544 | +36.8% |
| Financial debts | 43 | €6,896 | €0 | -€6,896 | -100% |
| Credit institutions | 430/8 | €6,896 | €0 | -€6,896 | -100% |
| Trade debts | 44 | €23,579 | €17,768 | -€5,811 | -24.6% |
| Suppliers | 440/4 | €23,579 | €17,768 | -€5,811 | -24.6% |
| Taxes, remuneration and social security | 45 | €65,974 | €59,862 | -€6,112 | -9.3% |
| Taxes | 450/3 | €65,974 | €59,862 | -€6,112 | -9.3% |
| Non-recurring operating income | 76A | €0 | €166,542 | +€166,542 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,471 | €87,221 | -€11,251 | -11.4% |
| Other operating charges | 640/8 | €18,752 | €50,145 | +€31,393 | +167% |
| Non-recurring operating charges | 66A | - | €521,263 | +€521,263 | |
| Gross operating margin | 9900 | €138,411 | €269,974 | +€131,563 | +95.1% |
| Operating profit (loss) | 9901 | €21,187 | -€388,656 | -€409,843 | |
| Financial income | 75/76B | €44 | €5,991 | +€5,947 | +13,482% |
| Recurring financial income | 75 | €44 | €5,991 | +€5,947 | +13,482% |
| Financial charges | 65/66B | €73,538 | €45,275 | -€28,263 | -38.4% |
| Recurring financial charges | 65 | €73,538 | €45,275 | -€28,263 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | -€52,306 | -€427,940 | -€375,634 | -718% |
| Transfer from deferred taxes | 780 | €0 | €11,027 | +€11,027 | |
| Income taxes | 67/77 | €0 | €55,430 | +€55,430 | |
| Profit (loss) for the period | 9904 | -€52,306 | -€472,343 | -€420,037 | -803% |
| Transfer from tax-exempt reserves | 789 | €40,861 | €653,701 | +€612,840 | +1,500% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,445 | €181,359 | +€192,803 |
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 15 October 2026 via checked.be.