GISTIWAT: 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.
GISTIWAT
Largest movements
- Cash +€176,771
up €176,771 (+66.9%), from €264,331 to €441,101
mainly Other debts (+€319,362) and Net result for the year (+€162,972)
- Tangible fixed assets +€65,671
up €65,671 (+1,104%), from €5,946 to €71,617
of which Furniture and vehicles: +€67,938
- Intangible fixed assets -€14,333
down €14,333 (-48.5%), from €29,530 to €15,196
- Other debts +€319,362
up €319,362 (+14,302%), from €2,233 to €321,595
- Profit (loss) carried forward -€156,457
no longer reported in 2025 (was €156,457)
- Debts after one year +€51,922
new in 2025: €51,922
- Current portion of long-term debt +€20,920
new in 2025: €20,920
- Tax, wage and social debts +€11,374
up €11,374 (+64.0%), from €17,780 to €29,155
of which Remuneration and social security: +€6,117
- Gross operating margin +€73,106
up €73,106 (+18.8%), from €389,277 to €462,383
- Staff costs +€51,752
up €51,752 (+32.0%), from €161,905 to €213,657
- Taxes +€5,257
up €5,257 (+10.2%), from €51,507 to €56,764
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 | €431,203 | €672,610 | +€241,407 | +56.0% |
| Fixed assets | 21/28 | €35,978 | €87,315 | +€51,338 | +143% |
| Intangible fixed assets | 21 | €29,530 | €15,196 | -€14,333 | -48.5% |
| Tangible fixed assets | 22/27 | €5,946 | €71,617 | +€65,671 | +1,104% |
| Plant, machinery and equipment | 23 | €5,946 | €3,679 | -€2,267 | -38.1% |
| Furniture and vehicles | 24 | - | €67,938 | +€67,938 | |
| Financial fixed assets | 28 | €502 | €502 | = | 0.0% |
| Current assets | 29/58 | €395,225 | €585,295 | +€190,070 | +48.1% |
| Stocks and contracts in progress | 3 | €17,998 | €23,586 | +€5,589 | +31.1% |
| Stocks | 30/36 | €17,998 | €23,586 | +€5,589 | +31.1% |
| Amounts receivable within one year | 40/41 | €103,812 | €109,080 | +€5,268 | +5.1% |
| Trade receivables | 40 | €17,768 | €19,385 | +€1,617 | +9.1% |
| Other amounts receivable | 41 | €86,044 | €89,695 | +€3,651 | +4.2% |
| Cash at bank and in hand | 54/58 | €264,331 | €441,101 | +€176,771 | +66.9% |
| Deferred charges and accrued income | 490/1 | €9,085 | €11,528 | +€2,442 | +26.9% |
| Total equity and liabilities | 10/49 | €431,203 | €672,610 | +€241,407 | +56.0% |
| Equity | 10/15 | €187,457 | €31,429 | -€156,028 | -83.2% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | - | €429 | +€429 | |
| Distributable reserves | 133 | - | €429 | +€429 | |
| Profit (loss) carried forward | 14 | €156,457 | - | -€156,457 | |
| Amounts payable | 17/49 | €243,746 | €641,182 | +€397,436 | +163% |
| Amounts payable after more than one year | 17 | - | €51,922 | +€51,922 | |
| Financial debts | 170/4 | - | €51,922 | +€51,922 | |
| Amounts payable within one year | 42/48 | €243,746 | €589,260 | +€345,514 | +142% |
| Current portion of amounts payable after more than one year | 42 | - | €20,920 | +€20,920 | |
| Trade debts | 44 | €223,733 | €217,590 | -€6,143 | -2.7% |
| Suppliers | 440/4 | €223,733 | €217,590 | -€6,143 | -2.7% |
| Taxes, remuneration and social security | 45 | €17,780 | €29,155 | +€11,374 | +64.0% |
| Taxes | 450/3 | €1,507 | €6,764 | +€5,257 | +349% |
| Remuneration and social security | 454/9 | €16,273 | €22,391 | +€6,117 | +37.6% |
| Other amounts payable | 47/48 | €2,233 | €321,595 | +€319,362 | +14,302% |
| Remuneration, social security and pensions | 62 | €161,905 | €213,657 | +€51,752 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,325 | €18,612 | +€4,287 | +29.9% |
| Other operating charges | 640/8 | €2,125 | €2,951 | +€825 | +38.8% |
| Gross operating margin | 9900 | €389,277 | €462,383 | +€73,106 | +18.8% |
| Operating profit (loss) | 9901 | €210,921 | €227,163 | +€16,242 | +7.7% |
| Financial income | 75/76B | €1,440 | €140 | -€1,300 | -90.3% |
| Recurring financial income | 75 | €1,440 | €140 | -€1,300 | -90.3% |
| Financial charges | 65/66B | €4,397 | €7,567 | +€3,170 | +72.1% |
| Recurring financial charges | 65 | €4,397 | €7,567 | +€3,170 | +72.1% |
| Profit (loss) for the period before taxes | 9903 | €207,964 | €219,736 | +€11,771 | +5.7% |
| Income taxes | 67/77 | €51,507 | €56,764 | +€5,257 | +10.2% |
| Profit (loss) for the period | 9904 | €156,457 | €162,972 | +€6,515 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €156,457 | €162,972 | +€6,515 | +4.2% |
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 24 October 2026 via checked.be.