GIVECO: 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.
GIVECO
Largest movements
- Tangible fixed assets -€5,235
down €5,235 (-17.1%), from €30,610 to €25,375
of which Plant, machinery and equipment: -€3,480
- Receivables within one year -€4,320
down €4,320 (-15.0%), from €28,870 to €24,550
of which Trade receivables: -€5,838
- Short-term financial debts -€5,953
down €5,953 (-73.1%), from €8,141 to €2,188
- Reserves +€3,500
up €3,500 (+5.5%), from €63,759 to €67,259
- Current portion of long-term debt -€2,930
no longer reported in 2025 (was €2,930)
- Profit (loss) carried forward -€1,621
down €1,621 (-8.6%), from €18,920 to €17,299
- Gross operating margin -€41,621
down €41,621 (-78.5%), from €53,035 to €11,414
- Taxes -€11,718
down €11,718 (-81.0%), from €14,474 to €2,756
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 | €124,638 | €115,820 | -€8,818 | -7.1% |
| Fixed assets | 21/28 | €30,659 | €25,424 | -€5,235 | -17.1% |
| Tangible fixed assets | 22/27 | €30,610 | €25,375 | -€5,235 | -17.1% |
| Land and buildings | 22 | €10,750 | €8,996 | -€1,755 | -16.3% |
| Plant, machinery and equipment | 23 | €19,859 | €16,379 | -€3,480 | -17.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €93,979 | €90,396 | -€3,583 | -3.8% |
| Amounts receivable after more than one year | 29 | €55,000 | €55,000 | = | 0.0% |
| Other amounts receivable | 291 | €55,000 | €55,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,870 | €24,550 | -€4,320 | -15.0% |
| Trade receivables | 40 | €18,150 | €12,312 | -€5,838 | -32.2% |
| Other amounts receivable | 41 | €10,720 | €12,238 | +€1,518 | +14.2% |
| Cash at bank and in hand | 54/58 | €9,593 | €10,304 | +€711 | +7.4% |
| Deferred charges and accrued income | 490/1 | €516 | €542 | +€26 | +5.0% |
| Total equity and liabilities | 10/49 | €124,638 | €115,820 | -€8,818 | -7.1% |
| Equity | 10/15 | €101,271 | €103,150 | +€1,879 | +1.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €63,759 | €67,259 | +€3,500 | +5.5% |
| Distributable reserves | 133 | €63,759 | €67,259 | +€3,500 | +5.5% |
| Profit (loss) carried forward | 14 | €18,920 | €17,299 | -€1,621 | -8.6% |
| Amounts payable | 17/49 | €23,367 | €12,670 | -€10,696 | -45.8% |
| Amounts payable within one year | 42/48 | €23,367 | €12,670 | -€10,696 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €2,930 | - | -€2,930 | |
| Financial debts | 43 | €8,141 | €2,188 | -€5,953 | -73.1% |
| Credit institutions | 430/8 | €8,141 | €2,188 | -€5,953 | -73.1% |
| Trade debts | 44 | €2,123 | €1,350 | -€773 | -36.4% |
| Suppliers | 440/4 | €2,123 | €1,350 | -€773 | -36.4% |
| Taxes, remuneration and social security | 45 | €8,514 | €7,473 | -€1,041 | -12.2% |
| Taxes | 450/3 | €8,514 | €7,473 | -€1,041 | -12.2% |
| Other amounts payable | 47/48 | €1,660 | €1,660 | = | 0.0% |
| Non-recurring operating income | 76A | €1,810 | - | -€1,810 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,284 | €5,758 | +€474 | +9.0% |
| Other operating charges | 640/8 | €661 | €680 | +€19 | +2.8% |
| Gross operating margin | 9900 | €53,035 | €11,414 | -€41,621 | -78.5% |
| Operating profit (loss) | 9901 | €47,090 | €4,976 | -€42,114 | -89.4% |
| Financial income | 75/76B | €2,398 | €1,925 | -€473 | -19.7% |
| Recurring financial income | 75 | €2,398 | €1,925 | -€473 | -19.7% |
| Financial charges | 65/66B | €854 | €606 | -€248 | -29.0% |
| Recurring financial charges | 65 | €854 | €606 | -€248 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €48,634 | €6,295 | -€42,339 | -87.1% |
| Income taxes | 67/77 | €14,474 | €2,756 | -€11,718 | -81.0% |
| Profit (loss) for the period | 9904 | €34,160 | €3,539 | -€30,621 | -89.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,160 | €3,539 | -€30,621 | -89.6% |
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 13 October 2026 via checked.be.