GIZEM: 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.
GIZEM
Largest movements
- Tangible fixed assets -€30,822
down €30,822 (-58.1%), from €53,054 to €22,232
- Receivables within one year +€9,749
up €9,749 (+47.6%), from €20,492 to €30,241
of which Trade receivables: +€5,182
- Cash -€9,206
down €9,206 (-46.6%), from €19,760 to €10,554
mainly Net result for the year (-€21,659) and Debts after one year (-€14,577)
- Profit (loss) carried forward -€21,659
down €21,659 (-130%), from -€16,690 to -€38,349
- Debts after one year -€14,577
down €14,577 (-24.7%), from €58,907 to €44,330
- Other debts +€8,584
up €8,584 (+117%), from €7,355 to €15,939
- Tax, wage and social debts -€1,906
down €1,906 (-29.6%), from €6,432 to €4,526
of which Taxes: -€3,159
- Trade debts -€1,474
down €1,474 (-55.1%), from €2,675 to €1,201
- Turnover -€147,083
no longer reported in 2025 (was €147,083)
- Purchases and services -€128,068
no longer reported in 2025 (was €128,068)
- Gross operating margin +€31,465
up €31,465 (+163%), from €19,303 to €50,768
- Financial income +€15,000
new in 2025: €15,000
of which Financial income: +€15,000
- Depreciation -€13,494
down €13,494 (-30.2%), from €44,612 to €31,118
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 | €93,669 | €63,390 | -€30,278 | -32.3% |
| Fixed assets | 21/28 | €53,417 | €22,595 | -€30,822 | -57.7% |
| Tangible fixed assets | 22/27 | €53,054 | €22,232 | -€30,822 | -58.1% |
| Furniture and vehicles | 24 | €53,054 | €22,232 | -€30,822 | -58.1% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €40,252 | €40,795 | +€543 | +1.3% |
| Amounts receivable within one year | 40/41 | €20,492 | €30,241 | +€9,749 | +47.6% |
| Trade receivables | 40 | €20,492 | €25,674 | +€5,182 | +25.3% |
| Other amounts receivable | 41 | - | €4,567 | +€4,567 | |
| Cash at bank and in hand | 54/58 | €19,760 | €10,554 | -€9,206 | -46.6% |
| Total equity and liabilities | 10/49 | €93,669 | €63,390 | -€30,278 | -32.3% |
| Equity | 10/15 | €3,762 | -€17,897 | -€21,659 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,690 | -€38,349 | -€21,659 | -130% |
| Amounts payable | 17/49 | €89,907 | €81,288 | -€8,620 | -9.6% |
| Amounts payable after more than one year | 17 | €58,907 | €44,330 | -€14,577 | -24.7% |
| Financial debts | 170/4 | €58,907 | €44,330 | -€14,577 | -24.7% |
| Amounts payable within one year | 42/48 | €31,000 | €36,958 | +€5,958 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €14,539 | €15,292 | +€754 | +5.2% |
| Trade debts | 44 | €2,675 | €1,201 | -€1,474 | -55.1% |
| Suppliers | 440/4 | €2,675 | €1,201 | -€1,474 | -55.1% |
| Taxes, remuneration and social security | 45 | €6,432 | €4,526 | -€1,906 | -29.6% |
| Taxes | 450/3 | €3,159 | - | -€3,159 | |
| Remuneration and social security | 454/9 | €3,273 | €4,526 | +€1,253 | +38.3% |
| Other amounts payable | 47/48 | €7,355 | €15,939 | +€8,584 | +117% |
| Turnover | 70 | €147,083 | - | -€147,083 | |
| Goods, raw materials, services and sundry goods | 60/61 | €128,068 | - | -€128,068 | |
| Remuneration, social security and pensions | 62 | €41,203 | €50,662 | +€9,459 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,612 | €31,118 | -€13,494 | -30.2% |
| Other operating charges | 640/8 | €1,118 | €1,784 | +€666 | +59.5% |
| Gross operating margin | 9900 | €19,303 | €50,768 | +€31,465 | +163% |
| Operating profit (loss) | 9901 | -€67,631 | -€32,797 | +€34,834 | +51.5% |
| Financial income | 75/76B | - | €15,000 | +€15,000 | |
| Recurring financial income | 75 | - | €15,000 | +€15,000 | |
| Non-recurring financial income | 76B | - | €15,000 | +€15,000 | |
| Financial charges | 65/66B | €4,910 | €3,862 | -€1,048 | -21.3% |
| Recurring financial charges | 65 | €4,910 | €3,862 | -€1,048 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | -€72,541 | -€21,659 | +€50,882 | +70.1% |
| Profit (loss) for the period | 9904 | -€72,541 | -€21,659 | +€50,882 | +70.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€72,541 | -€21,659 | +€50,882 | +70.1% |
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 23 October 2026 via checked.be.