GISTI MANAGEMENT: 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.
GISTI MANAGEMENT
Largest movements
- Financial fixed assets +€1.7m
up €1.7m (+196%), from €857,150 to €2.5m
- Deferred charges and accrued income +€668,741
new in 2025: €668,741
- Cash +€207,581
up €207,581 (+207%), from €100,388 to €307,969
mainly Net result for the year (+€1.3m) and Other debts (+€1.3m)
- Other debts +€1.3m
up €1.3m (+269%), from €475,805 to €1.8m
- Debts after one year +€1.1m
up €1.1m (+433%), from €263,699 to €1.4m
- Current portion of long-term debt +€223,799
up €223,799 (+208%), from €107,631 to €331,430
- Reserves -€100,579
down €100,579 (-99.7%), from €100,869 to €289
- Financial income +€1.1m
up €1.1m (+1,824,995%), from €60 to €1.1m
- Gross operating margin +€131,996
up €131,996 (+81.2%), from €162,471 to €294,467
- Taxes +€33,380
up €33,380 (+119%), from €27,947 to €61,328
- Financial charges +€21,874
up €21,874 (+610%), from €3,584 to €25,458
- Depreciation -€4,559
down €4,559 (-15.1%), from €30,120 to €25,560
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 | €1,093,026 | €3,643,274 | +€2.6m | +233% |
| Fixed assets | 21/28 | €991,353 | €2,644,305 | +€1.7m | +167% |
| Tangible fixed assets | 22/27 | €134,203 | €108,642 | -€25,560 | -19.0% |
| Land and buildings | 22 | €46,157 | €43,435 | -€2,722 | -5.9% |
| Furniture and vehicles | 24 | €88,046 | €65,207 | -€22,839 | -25.9% |
| Financial fixed assets | 28 | €857,150 | €2,535,662 | +€1.7m | +196% |
| Current assets | 29/58 | €101,673 | €998,970 | +€897,297 | +883% |
| Amounts receivable within one year | 40/41 | €1,285 | €22,260 | +€20,975 | +1,632% |
| Trade receivables | 40 | €1,285 | €7,260 | +€5,975 | +465% |
| Other amounts receivable | 41 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €100,388 | €307,969 | +€207,581 | +207% |
| Deferred charges and accrued income | 490/1 | - | €668,741 | +€668,741 | |
| Total equity and liabilities | 10/49 | €1,093,026 | €3,643,274 | +€2.6m | +233% |
| Equity | 10/15 | €200,869 | €100,289 | -€100,579 | -50.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €100,869 | €289 | -€100,579 | -99.7% |
| Distributable reserves | 133 | €100,869 | €289 | -€100,579 | -99.7% |
| Amounts payable | 17/49 | €892,157 | €3,542,985 | +€2.7m | +297% |
| Amounts payable after more than one year | 17 | €263,699 | €1,405,427 | +€1.1m | +433% |
| Financial debts | 170/4 | €263,699 | €1,405,427 | +€1.1m | +433% |
| Amounts payable within one year | 42/48 | €628,458 | €2,117,030 | +€1.5m | +237% |
| Current portion of amounts payable after more than one year | 42 | €107,631 | €331,430 | +€223,799 | +208% |
| Trade debts | 44 | €568 | €952 | +€384 | +67.7% |
| Suppliers | 440/4 | €568 | €952 | +€384 | +67.7% |
| Taxes, remuneration and social security | 45 | €44,454 | €27,060 | -€17,394 | -39.1% |
| Taxes | 450/3 | €44,454 | €27,060 | -€17,394 | -39.1% |
| Other amounts payable | 47/48 | €475,805 | €1,757,588 | +€1.3m | +269% |
| Accrued charges and deferred income | 492/3 | - | €20,528 | +€20,528 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,120 | €25,560 | -€4,559 | -15.1% |
| Other operating charges | 640/8 | €330 | €1,700 | +€1,370 | +415% |
| Gross operating margin | 9900 | €162,471 | €294,467 | +€131,996 | +81.2% |
| Operating profit (loss) | 9901 | €132,022 | €267,206 | +€135,185 | +102% |
| Financial income | 75/76B | €60 | €1,104,000 | +€1.1m | +1,824,995% |
| Recurring financial income | 75 | €60 | €1,104,000 | +€1.1m | +1,824,995% |
| Financial charges | 65/66B | €3,584 | €25,458 | +€21,874 | +610% |
| Recurring financial charges | 65 | €3,584 | €25,458 | +€21,874 | +610% |
| Profit (loss) for the period before taxes | 9903 | €128,498 | €1,345,748 | +€1.2m | +947% |
| Income taxes | 67/77 | €27,947 | €61,328 | +€33,380 | +119% |
| Profit (loss) for the period | 9904 | €100,550 | €1,284,421 | +€1.2m | +1,177% |
| Profit (loss) for the period to be appropriated | 9905 | €100,550 | €1,284,421 | +€1.2m | +1,177% |
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 28 October 2026 via checked.be.