Jade GIAMBUSSO: 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.
Jade GIAMBUSSO
Largest movements
- Current investments +€144,000
new in 2025: €144,000
- Receivables within one year -€132,292
down €132,292 (-95.2%), from €138,933 to €6,641
- Cash +€16,677
up €16,677 (+37.3%), from €44,653 to €61,330
mainly Receivables within one year (+€132,292) and Net result for the year (+€27,936)
- Tangible fixed assets -€5,841
down €5,841 (-14.8%), from €39,554 to €33,713
of which Furniture and vehicles: -€9,042
- Reserves +€144,000
up €144,000 (+7,742%), from €1,860 to €145,860
- Profit (loss) carried forward -€116,064
down €116,064 (-75.3%), from €154,131 to €38,068
- Debts after one year -€8,475
down €8,475 (-26.3%), from €32,233 to €23,758
- Taxes +€11,787
up €11,787 (+296%), from €3,987 to €15,774
- Staff costs -€10,260
down €10,260 (-10.7%), from €95,554 to €85,294
- Gross operating margin -€3,146
down €3,146 (-2.2%), from €143,993 to €140,847
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 | €223,141 | €245,684 | +€22,543 | +10.1% |
| Fixed assets | 21/28 | €39,554 | €33,713 | -€5,841 | -14.8% |
| Tangible fixed assets | 22/27 | €39,554 | €33,713 | -€5,841 | -14.8% |
| Plant, machinery and equipment | 23 | €8,461 | €11,662 | +€3,201 | +37.8% |
| Furniture and vehicles | 24 | €31,093 | €22,051 | -€9,042 | -29.1% |
| Current assets | 29/58 | €183,587 | €211,971 | +€28,384 | +15.5% |
| Amounts receivable within one year | 40/41 | €138,933 | €6,641 | -€132,292 | -95.2% |
| Other amounts receivable | 41 | €138,933 | €6,641 | -€132,292 | -95.2% |
| Current investments | 50/53 | - | €144,000 | +€144,000 | |
| Cash at bank and in hand | 54/58 | €44,653 | €61,330 | +€16,677 | +37.3% |
| Total equity and liabilities | 10/49 | €223,141 | €245,684 | +€22,543 | +10.1% |
| Equity | 10/15 | €174,591 | €202,528 | +€27,936 | +16.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Share premium | 1100/10 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €145,860 | +€144,000 | +7,742% |
| Non-distributable reserves | 130/1 | €1,860 | €145,860 | +€144,000 | +7,742% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | - | €144,000 | +€144,000 | |
| Profit (loss) carried forward | 14 | €154,131 | €38,068 | -€116,064 | -75.3% |
| Amounts payable | 17/49 | €48,549 | €43,156 | -€5,393 | -11.1% |
| Amounts payable after more than one year | 17 | €32,233 | €23,758 | -€8,475 | -26.3% |
| Financial debts | 170/4 | €32,233 | €23,758 | -€8,475 | -26.3% |
| Amounts payable within one year | 42/48 | €16,316 | €19,399 | +€3,082 | +18.9% |
| Trade debts | 44 | €3,049 | €4,643 | +€1,594 | +52.3% |
| Suppliers | 440/4 | €3,049 | €4,643 | +€1,594 | +52.3% |
| Taxes, remuneration and social security | 45 | €13,267 | €14,756 | +€1,489 | +11.2% |
| Taxes | 450/3 | €7,286 | €7,902 | +€616 | +8.5% |
| Remuneration and social security | 454/9 | €5,981 | €6,854 | +€873 | +14.6% |
| Remuneration, social security and pensions | 62 | €95,554 | €85,294 | -€10,260 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,599 | €10,160 | -€439 | -4.1% |
| Other operating charges | 640/8 | €707 | €688 | -€19 | -2.6% |
| Gross operating margin | 9900 | €143,993 | €140,847 | -€3,146 | -2.2% |
| Operating profit (loss) | 9901 | €37,133 | €44,705 | +€7,571 | +20.4% |
| Financial income | 75/76B | €2,468 | €1,400 | -€1,068 | -43.3% |
| Recurring financial income | 75 | €2,468 | €1,400 | -€1,068 | -43.3% |
| Financial charges | 65/66B | €1,820 | €2,395 | +€574 | +31.6% |
| Recurring financial charges | 65 | €1,820 | €2,395 | +€574 | +31.6% |
| Profit (loss) for the period before taxes | 9903 | €37,781 | €43,710 | +€5,929 | +15.7% |
| Income taxes | 67/77 | €3,987 | €15,774 | +€11,787 | +296% |
| Profit (loss) for the period | 9904 | €33,794 | €27,936 | -€5,858 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,794 | €27,936 | -€5,858 | -17.3% |
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 26 October 2026 via checked.be.