GISTELTHINK: 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.
GISTELTHINK
Largest movements
- Receivables within one year -€54,375
down €54,375 (-83.8%), from €64,874 to €10,498
of which Trade receivables: -€45,928
- Cash +€20,165
up €20,165 (+7.1%), from €284,341 to €304,506
mainly Other debts (+€223,270) and Receivables within one year (+€54,375)
- Intangible fixed assets -€7,552
down €7,552 (-28.3%), from €26,680 to €19,128
- Profit (loss) carried forward -€230,107
down €230,107 (-100%), from €230,107 to €0
- Other debts +€223,270
new in 2025: €223,270
- Tax, wage and social debts -€37,595
down €37,595 (-82.3%), from €45,671 to €8,076
- Current portion of long-term debt +€5,415
up €5,415 (+160%), from €3,381 to €8,796
- Gross operating margin -€61,350
down €61,350 (-43.6%), from €140,576 to €79,226
- Taxes -€16,021
down €16,021 (-52.7%), from €30,421 to €14,400
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 | €380,314 | €342,007 | -€38,307 | -10.1% |
| Fixed assets | 21/28 | €30,236 | €25,297 | -€4,938 | -16.3% |
| Intangible fixed assets | 21 | €26,680 | €19,128 | -€7,552 | -28.3% |
| Tangible fixed assets | 22/27 | €3,055 | €5,669 | +€2,614 | +85.5% |
| Furniture and vehicles | 24 | €3,055 | €5,669 | +€2,614 | +85.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €350,079 | €316,710 | -€33,369 | -9.5% |
| Amounts receivable within one year | 40/41 | €64,874 | €10,498 | -€54,375 | -83.8% |
| Trade receivables | 40 | €50,377 | €4,449 | -€45,928 | -91.2% |
| Other amounts receivable | 41 | €14,496 | €6,049 | -€8,447 | -58.3% |
| Cash at bank and in hand | 54/58 | €284,341 | €304,506 | +€20,165 | +7.1% |
| Deferred charges and accrued income | 490/1 | €864 | €1,705 | +€841 | +97.3% |
| Total equity and liabilities | 10/49 | €380,314 | €342,007 | -€38,307 | -10.1% |
| Equity | 10/15 | €329,797 | €99,690 | -€230,107 | -69.8% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €92,190 | €92,190 | = | 0.0% |
| Distributable reserves | 133 | €92,190 | €92,190 | = | 0.0% |
| Profit (loss) carried forward | 14 | €230,107 | €0 | -€230,107 | -100% |
| Amounts payable | 17/49 | €50,517 | €242,317 | +€191,800 | +380% |
| Amounts payable within one year | 42/48 | €49,605 | €241,906 | +€192,301 | +388% |
| Current portion of amounts payable after more than one year | 42 | €3,381 | €8,796 | +€5,415 | +160% |
| Trade debts | 44 | €553 | €1,765 | +€1,212 | +219% |
| Suppliers | 440/4 | €553 | €1,765 | +€1,212 | +219% |
| Taxes, remuneration and social security | 45 | €45,671 | €8,076 | -€37,595 | -82.3% |
| Taxes | 450/3 | €45,671 | €8,076 | -€37,595 | -82.3% |
| Other amounts payable | 47/48 | - | €223,270 | +€223,270 | |
| Accrued charges and deferred income | 492/3 | €912 | €411 | -€501 | -54.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,006 | €10,038 | +€1,032 | +11.5% |
| Other operating charges | 640/8 | €749 | €675 | -€73 | -9.8% |
| Gross operating margin | 9900 | €140,576 | €79,226 | -€61,350 | -43.6% |
| Operating profit (loss) | 9901 | €130,821 | €68,512 | -€62,309 | -47.6% |
| Financial income | 75/76B | €1 | €2 | +€2 | +300% |
| Recurring financial income | 75 | €1 | €2 | +€2 | +300% |
| Financial charges | 65/66B | €310 | €277 | -€33 | -10.8% |
| Recurring financial charges | 65 | €310 | €277 | -€33 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €130,511 | €68,238 | -€62,274 | -47.7% |
| Income taxes | 67/77 | €30,421 | €14,400 | -€16,021 | -52.7% |
| Profit (loss) for the period | 9904 | €100,091 | €53,838 | -€46,253 | -46.2% |
| Transfer from tax-exempt reserves | 789 | - | €230,107 | +€230,107 | |
| Profit (loss) for the period to be appropriated | 9905 | €100,091 | €283,945 | +€183,855 | +184% |
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 27 October 2026 via checked.be.