GISPA: 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.
GISPA
Largest movements
- Cash -€15,790
down €15,790 (-33.9%), from €46,619 to €30,829
mainly Contributions, distributions and other (-€34,660) and Other debts (-€15,609)
- Other debts -€15,609
down €15,609 (-15.6%), from €100,272 to €84,663
- Gross operating margin +€5,143
up €5,143 (+10.2%), from €50,216 to €55,359
- Financial income -€1,284
down €1,284 (-45.2%), from €2,842 to €1,558
- Financial charges +€826
up €826 (+57.6%), from €1,434 to €2,260
- Taxes +€602
up €602 (+5.5%), from €10,952 to €11,553
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 | €170,374 | €156,120 | -€14,254 | -8.4% |
| Fixed assets | 21/28 | €15,879 | €15,879 | = | 0.0% |
| Tangible fixed assets | 22/27 | €15,879 | €15,879 | = | 0.0% |
| Land and buildings | 22 | €15,879 | €15,879 | = | 0.0% |
| Current assets | 29/58 | €154,494 | €140,241 | -€14,254 | -9.2% |
| Amounts receivable within one year | 40/41 | €588 | €588 | -€0 | 0.0% |
| Other amounts receivable | 41 | €588 | €588 | -€0 | 0.0% |
| Current investments | 50/53 | €105,979 | €105,979 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €46,619 | €30,829 | -€15,790 | -33.9% |
| Deferred charges and accrued income | 490/1 | €1,309 | €2,845 | +€1,536 | +117.4% |
| Total equity and liabilities | 10/49 | €170,374 | €156,120 | -€14,254 | -8.4% |
| Equity | 10/15 | €68,200 | €68,200 | = | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €102,174 | €87,920 | -€14,254 | -14.0% |
| Amounts payable within one year | 42/48 | €101,678 | €87,318 | -€14,360 | -14.1% |
| Trade debts | 44 | €1,301 | €1,561 | +€260 | +20.0% |
| Suppliers | 440/4 | €1,301 | €1,561 | +€260 | +20.0% |
| Taxes, remuneration and social security | 45 | €106 | €1,095 | +€989 | +934.2% |
| Taxes | 450/3 | €106 | €1,095 | +€989 | +934.2% |
| Other amounts payable | 47/48 | €100,272 | €84,663 | -€15,609 | -15.6% |
| Accrued charges and deferred income | 492/3 | €495 | €602 | +€106 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €8,219 | €8,443 | +€224 | +2.7% |
| Gross operating margin | 9900 | €50,216 | €55,359 | +€5,143 | +10.2% |
| Operating profit (loss) | 9901 | €41,997 | €46,916 | +€4,918 | +11.7% |
| Financial income | 75/76B | €2,842 | €1,558 | -€1,284 | -45.2% |
| Recurring financial income | 75 | €2,842 | €1,558 | -€1,284 | -45.2% |
| Financial charges | 65/66B | €1,434 | €2,260 | +€826 | +57.6% |
| Recurring financial charges | 65 | €1,434 | €2,260 | +€826 | +57.6% |
| Profit (loss) for the period before taxes | 9903 | €43,405 | €46,213 | +€2,808 | +6.5% |
| Income taxes | 67/77 | €10,952 | €11,553 | +€602 | +5.5% |
| Profit (loss) for the period | 9904 | €32,453 | €34,660 | +€2,207 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,453 | €34,660 | +€2,207 | +6.8% |
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 11 October 2026 via checked.be.