GYSMAN: 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.
What changed
GYSMAN
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€24,355
2024 · €15,123+€9,233
Equity
€1.2m
2024 · €1.1m+€24,355
Cash
€10
2024 · €6,725-€6,714
Balance sheet total
€1.2m
2024 · €1.2m+€28,453
Largest movements
Assets
- Receivables within one year +€32,952
up €32,952 (+10.2%), from €322,371 to €355,323
of which Other amounts receivable: +€32,952
Equity and liabilities
- Profit (loss) carried forward +€24,355
up €24,355 (+4.5%), from €541,702 to €566,057
- Debts after one year -€15,481
down €15,481 (-92.2%), from €16,796 to €1,315
Income statement
- Gross operating margin +€8,686
up €8,686 (+49.4%), from €17,568 to €26,254
- Other operating charges +€897
up €897 (+40.7%), from €2,204 to €3,101
- Financial income +€443
up €443 (+11.2%), from €3,960 to €4,403
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.
Result 2024
€15,123
Gross operating margin
+€8,686
Depreciation
-€255
Other operating charges
-€897
Other operating items
+€1,000
Financial income
+€443
Financial charges
+€261
Taxes
-€6
Result 2025
€24,355
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€10,447
Investment
-€2,250
Financing
-€14,911
Cash 2024
€6,725
From operations (derived)
+€10,447
Net result for the year
+€24,355
Depreciation
+€255
Receivables within one year
-€32,952
Deferred charges and accrued income
-€220
Trade debts
+€6,982
Tax, wage and social debts
+€2,027
Other debts
+€10,000
Investment (derived)
-€2,250
Investment in fixed assets (net)
-€2,250
Financing
-€14,911
Debts after one year
-€15,481
Current portion of long-term debt
+€539
Short-term financial debts
+€31
Cash 2025
€10
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,164,929 | €1,193,382 | +€28,453 | +2.4% |
| Fixed assets | 21/28 | €721,651 | €723,646 | +€1,995 | +0.3% |
| Tangible fixed assets | 22/27 | - | €1,995 | +€1,995 | |
| Furniture and vehicles | 24 | - | €1,995 | +€1,995 | |
| Financial fixed assets | 28 | €721,651 | €721,651 | = | 0.0% |
| Current assets | 29/58 | €443,278 | €469,736 | +€26,458 | +6.0% |
| Amounts receivable after more than one year | 29 | €110,000 | €110,000 | = | 0.0% |
| Other amounts receivable | 291 | €110,000 | €110,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €322,371 | €355,323 | +€32,952 | +10.2% |
| Trade receivables | 40 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 41 | €307,371 | €340,323 | +€32,952 | +10.7% |
| Cash at bank and in hand | 54/58 | €6,725 | €10 | -€6,714 | -99.8% |
| Deferred charges and accrued income | 490/1 | €4,183 | €4,403 | +€220 | +5.3% |
| Total equity and liabilities | 10/49 | €1,164,929 | €1,193,382 | +€28,453 | +2.4% |
| Equity | 10/15 | €1,126,889 | €1,151,244 | +€24,355 | +2.2% |
| Contributions | 10/11 | €225,000 | €225,000 | = | 0.0% |
| Capital | 10 | €225,000 | €225,000 | = | 0.0% |
| Issued capital | 100 | €225,000 | €225,000 | = | 0.0% |
| Reserves | 13 | €360,187 | €360,187 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,500 | €22,500 | = | 0.0% |
| Legal reserve | 130 | €22,500 | €22,500 | = | 0.0% |
| Distributable reserves | 133 | €337,687 | €337,687 | = | 0.0% |
| Profit (loss) carried forward | 14 | €541,702 | €566,057 | +€24,355 | +4.5% |
| Amounts payable | 17/49 | €38,040 | €42,138 | +€4,097 | +10.8% |
| Amounts payable after more than one year | 17 | €16,796 | €1,315 | -€15,481 | -92.2% |
| Financial debts | 170/4 | €16,796 | €1,315 | -€15,481 | -92.2% |
| Amounts payable within one year | 42/48 | €21,244 | €40,823 | +€19,578 | +92.2% |
| Current portion of amounts payable after more than one year | 42 | €14,942 | €15,481 | +€539 | +3.6% |
| Financial debts | 43 | €0 | €31 | +€31 | |
| Credit institutions | 430/8 | €0 | €31 | +€31 | |
| Trade debts | 44 | €1,959 | €8,941 | +€6,982 | +356% |
| Suppliers | 440/4 | €1,959 | €8,941 | +€6,982 | +356% |
| Taxes, remuneration and social security | 45 | €4,344 | €6,370 | +€2,027 | +46.7% |
| Taxes | 450/3 | €4,344 | €6,370 | +€2,027 | +46.7% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €255 | +€255 | |
| Other operating charges | 640/8 | €2,204 | €3,101 | +€897 | +40.7% |
| Non-recurring operating charges | 66A | €1,000 | €0 | -€1,000 | -100% |
| Gross operating margin | 9900 | €17,568 | €26,254 | +€8,686 | +49.4% |
| Operating profit (loss) | 9901 | €14,364 | €22,898 | +€8,534 | +59.4% |
| Financial income | 75/76B | €3,960 | €4,403 | +€443 | +11.2% |
| Recurring financial income | 75 | €3,960 | €4,403 | +€443 | +11.2% |
| Financial charges | 65/66B | €2,930 | €2,669 | -€261 | -8.9% |
| Recurring financial charges | 65 | €2,930 | €2,669 | -€261 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €15,394 | €24,632 | +€9,238 | +60.0% |
| Income taxes | 67/77 | €271 | €277 | +€6 | +2.1% |
| Profit (loss) for the period | 9904 | €15,123 | €24,355 | +€9,233 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,123 | €24,355 | +€9,233 | +61.1% |
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 27 October 2026 via checked.be.