GIULIAM: 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.
GIULIAM
Largest movements
- Cash -€77,789
down €77,789 (-74.0%), from €105,060 to €27,270
mainly Net result for the year (-€54,796) and Trade debts (-€47,855)
- Receivables within one year -€57,686
down €57,686 (-89.0%), from €64,836 to €7,150
of which Trade receivables: -€43,621
- Tangible fixed assets -€4,997
down €4,997 (-23.7%), from €21,121 to €16,124
- Profit (loss) carried forward -€54,796
down €54,796 (-48.4%), from €113,249 to €58,453
- Trade debts -€47,855
down €47,855 (-94.5%), from €50,624 to €2,769
- Other debts -€35,412
down €35,412 (-90.2%), from €39,275 to €3,863
- Gross operating margin -€162,433
down €162,433, from €113,542 to -€48,891
- Taxes -€13,508
down €13,508 (-98.3%), from €13,748 to €240
- Financial charges -€11,979
down €11,979 (-82.9%), from €14,454 to €2,476
- Financial income -€4,928
down €4,928 (-63.7%), from €7,733 to €2,804
- Depreciation +€2,298
up €2,298 (+85.1%), from €2,699 to €4,997
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 | €231,481 | €91,482 | -€139,999 | -60.5% |
| Fixed assets | 21/28 | €21,271 | €16,274 | -€4,997 | -23.5% |
| Tangible fixed assets | 22/27 | €21,121 | €16,124 | -€4,997 | -23.7% |
| Furniture and vehicles | 24 | €21,121 | €16,124 | -€4,997 | -23.7% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €210,210 | €75,208 | -€135,001 | -64.2% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €64,836 | €7,150 | -€57,686 | -89.0% |
| Trade receivables | 40 | €50,771 | €7,150 | -€43,621 | -85.9% |
| Other amounts receivable | 41 | €14,065 | €0 | -€14,065 | -100% |
| Cash at bank and in hand | 54/58 | €105,060 | €27,270 | -€77,789 | -74.0% |
| Deferred charges and accrued income | 490/1 | €314 | €788 | +€474 | +151% |
| Total equity and liabilities | 10/49 | €231,481 | €91,482 | -€139,999 | -60.5% |
| Equity | 10/15 | €121,309 | €66,513 | -€54,796 | -45.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €113,249 | €58,453 | -€54,796 | -48.4% |
| Amounts payable | 17/49 | €110,172 | €24,969 | -€85,203 | -77.3% |
| Amounts payable within one year | 42/48 | €110,172 | €24,969 | -€85,203 | -77.3% |
| Current portion of amounts payable after more than one year | 42 | €34 | €0 | -€34 | -100% |
| Financial debts | 43 | €0 | €246 | +€246 | |
| Credit institutions | 430/8 | €0 | €246 | +€246 | |
| Trade debts | 44 | €50,624 | €2,769 | -€47,855 | -94.5% |
| Suppliers | 440/4 | €50,624 | €2,769 | -€47,855 | -94.5% |
| Taxes, remuneration and social security | 45 | €20,239 | €18,091 | -€2,148 | -10.6% |
| Taxes | 450/3 | €20,239 | €18,091 | -€2,148 | -10.6% |
| Other amounts payable | 47/48 | €39,275 | €3,863 | -€35,412 | -90.2% |
| Non-recurring operating income | 76A | €11,083 | €15,426 | +€4,343 | +39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,699 | €4,997 | +€2,298 | +85.1% |
| Other operating charges | 640/8 | €1,565 | €996 | -€569 | -36.4% |
| Non-recurring operating charges | 66A | €151 | €0 | -€151 | -100% |
| Gross operating margin | 9900 | €113,542 | -€48,891 | -€162,433 | |
| Operating profit (loss) | 9901 | €109,128 | -€54,884 | -€164,012 | |
| Financial income | 75/76B | €7,733 | €2,804 | -€4,928 | -63.7% |
| Recurring financial income | 75 | €7,733 | €2,804 | -€4,928 | -63.7% |
| Financial charges | 65/66B | €14,454 | €2,476 | -€11,979 | -82.9% |
| Recurring financial charges | 65 | €14,454 | €2,476 | -€11,979 | -82.9% |
| Profit (loss) for the period before taxes | 9903 | €102,406 | -€54,556 | -€156,962 | |
| Income taxes | 67/77 | €13,748 | €240 | -€13,508 | -98.3% |
| Profit (loss) for the period | 9904 | €88,658 | -€54,796 | -€143,454 | |
| Profit (loss) for the period to be appropriated | 9905 | €88,658 | -€54,796 | -€143,454 |
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.