GIULIA-LOUISE: 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.
GIULIA-LOUISE
Largest movements
- Financial fixed assets -€200,000
no longer reported in 2025 (was €200,000)
- Cash +€161,308
up €161,308 (+403%), from €40,058 to €201,366
mainly Investment in fixed assets (net) (+€215,860) and Depreciation (+€51,510)
- Tangible fixed assets -€67,369
down €67,369 (-10.6%), from €635,541 to €568,172
of which Land and buildings: -€47,048
- Deferred charges and accrued income +€22,700
up €22,700 (+2,103%), from €1,079 to €23,779
- Profit (loss) carried forward -€42,428
down €42,428 (-71.5%), from -€59,355 to -€101,782
- Debts after one year -€26,387
down €26,387 (-4.9%), from €540,428 to €514,041
- Gross operating margin +€18,511
up €18,511 (+50.9%), from €36,354 to €54,865
- Depreciation -€6,716
down €6,716 (-11.5%), from €58,226 to €51,510
- Financial charges -€1,051
down €1,051 (-5.8%), from €18,185 to €17,134
- Other operating charges -€1,013
down €1,013 (-21.0%), from €4,824 to €3,811
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 | €876,679 | €799,744 | -€76,934 | -8.8% |
| Fixed assets | 21/28 | €835,541 | €568,172 | -€267,369 | -32.0% |
| Tangible fixed assets | 22/27 | €635,541 | €568,172 | -€67,369 | -10.6% |
| Land and buildings | 22 | €609,357 | €562,309 | -€47,048 | -7.7% |
| Furniture and vehicles | 24 | €26,184 | €5,863 | -€20,321 | -77.6% |
| Financial fixed assets | 28 | €200,000 | - | -€200,000 | |
| Current assets | 29/58 | €41,138 | €231,573 | +€190,435 | +463% |
| Amounts receivable within one year | 40/41 | - | €4,927 | +€4,927 | |
| Trade receivables | 40 | - | €2,742 | +€2,742 | |
| Other amounts receivable | 41 | - | €2,185 | +€2,185 | |
| Current investments | 50/53 | - | €1,500 | +€1,500 | |
| Cash at bank and in hand | 54/58 | €40,058 | €201,366 | +€161,308 | +403% |
| Deferred charges and accrued income | 490/1 | €1,079 | €23,779 | +€22,700 | +2,103% |
| Total equity and liabilities | 10/49 | €876,679 | €799,744 | -€76,934 | -8.8% |
| Equity | 10/15 | -€56,655 | -€99,082 | -€42,428 | -74.9% |
| Contributions | 10/11 | €2,700 | €2,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,355 | -€101,782 | -€42,428 | -71.5% |
| Amounts payable | 17/49 | €933,333 | €898,827 | -€34,506 | -3.7% |
| Amounts payable after more than one year | 17 | €540,428 | €514,041 | -€26,387 | -4.9% |
| Financial debts | 170/4 | €540,428 | €514,041 | -€26,387 | -4.9% |
| Amounts payable within one year | 42/48 | €388,906 | €384,786 | -€4,120 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €25,376 | €24,447 | -€929 | -3.7% |
| Trade debts | 44 | €1,127 | €401 | -€726 | -64.4% |
| Suppliers | 440/4 | €1,127 | €401 | -€726 | -64.4% |
| Taxes, remuneration and social security | 45 | €2,686 | - | -€2,686 | |
| Taxes | 450/3 | €2,686 | - | -€2,686 | |
| Other amounts payable | 47/48 | €359,717 | €359,938 | +€221 | +0.1% |
| Accrued charges and deferred income | 492/3 | €4,000 | - | -€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,226 | €51,510 | -€6,716 | -11.5% |
| Other operating charges | 640/8 | €4,824 | €3,811 | -€1,013 | -21.0% |
| Non-recurring operating charges | 66A | - | €24,839 | +€24,839 | |
| Gross operating margin | 9900 | €36,354 | €54,865 | +€18,511 | +50.9% |
| Operating profit (loss) | 9901 | -€26,696 | -€25,294 | +€1,402 | +5.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -97.6% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -97.6% |
| Financial charges | 65/66B | €18,185 | €17,134 | -€1,051 | -5.8% |
| Recurring financial charges | 65 | €18,185 | €17,134 | -€1,051 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | -€44,880 | -€42,428 | +€2,453 | +5.5% |
| Profit (loss) for the period | 9904 | -€44,880 | -€42,428 | +€2,453 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,880 | -€42,428 | +€2,453 | +5.5% |
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 16 October 2026 via checked.be.