Marc GIANCANE: what changed
Two fiscal 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.
Marc GIANCANE
Largest movements
- Cash +€5,674
up €5,674 (+16.1%), from €35,329 to €41,003
mainly Net result for the year (+€4,043) and Depreciation (+€2,041)
- Tangible fixed assets -€2,041
down €2,041 (-41.4%), from €4,931 to €2,889
of which Furniture and vehicles: -€1,249
- Receivables within one year -€1,621
down €1,621 (-34.5%), from €4,705 to €3,083
of which Trade receivables: -€1,619
- Reserves +€4,000
up €4,000 (+392.8%), from €1,018 to €5,018
of which Distributable reserves: +€4,000
- Tax, wage and social debts -€2,672
down €2,672 (-36.4%), from €7,339 to €4,667
- Gross operating margin +€2,266
up €2,266 (+31.8%), from €7,115 to €9,381
- Depreciation -€851
down €851 (-29.4%), from €2,893 to €2,041
- Other operating charges +€144
up €144 (+20.8%), from €690 to €834
- Taxes -€131
down €131 (-5.6%), from €2,321 to €2,190
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.
Cash bridge derived
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 | €46,583 | €48,148 | +€1,566 | +3.4% |
| Fixed assets | 21/28 | €4,931 | €2,889 | -€2,041 | -41.4% |
| Tangible fixed assets | 22/27 | €4,931 | €2,889 | -€2,041 | -41.4% |
| Furniture and vehicles | 24 | €1,565 | €316 | -€1,249 | -79.8% |
| Other tangible fixed assets | 26 | €3,366 | €2,573 | -€792 | -23.5% |
| Current assets | 29/58 | €41,652 | €45,259 | +€3,607 | +8.7% |
| Stocks and contracts in progress | 3 | €600 | €300 | -€300 | -50.0% |
| Stocks | 30/36 | €600 | €300 | -€300 | -50.0% |
| Amounts receivable within one year | 40/41 | €4,705 | €3,083 | -€1,621 | -34.5% |
| Trade receivables | 40 | €4,280 | €2,660 | -€1,619 | -37.8% |
| Other amounts receivable | 41 | €425 | €423 | -€2 | -0.4% |
| Cash at bank and in hand | 54/58 | €35,329 | €41,003 | +€5,674 | +16.1% |
| Deferred charges and accrued income | 490/1 | €1,018 | €872 | -€145 | -14.3% |
| Total equity and liabilities | 10/49 | €46,583 | €48,148 | +€1,566 | +3.4% |
| Equity | 10/15 | €39,220 | €43,262 | +€4,043 | +10.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,018 | €5,018 | +€4,000 | +392.8% |
| Non-distributable reserves | 130/1 | €1,018 | €1,018 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,018 | €1,018 | = | 0.0% |
| Distributable reserves | 133 | - | €4,000 | +€4,000 | |
| Profit (loss) carried forward | 14 | €32,001 | €32,044 | +€43 | +0.1% |
| Amounts payable | 17/49 | €7,363 | €4,886 | -€2,477 | -33.6% |
| Amounts payable within one year | 42/48 | €7,339 | €4,886 | -€2,453 | -33.4% |
| Trade debts | 44 | - | €219 | +€219 | |
| Suppliers | 440/4 | - | €219 | +€219 | |
| Taxes, remuneration and social security | 45 | €7,339 | €4,667 | -€2,672 | -36.4% |
| Taxes | 450/3 | €7,339 | €4,667 | -€2,672 | -36.4% |
| Accrued charges and deferred income | 492/3 | €24 | - | -€24 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,893 | €2,041 | -€851 | -29.4% |
| Other operating charges | 640/8 | €690 | €834 | +€144 | +20.8% |
| Gross operating margin | 9900 | €7,115 | €9,381 | +€2,266 | +31.8% |
| Operating profit (loss) | 9901 | €3,532 | €6,505 | +€2,973 | +84.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €271 | €273 | +€2 | +0.6% |
| Recurring financial charges | 65 | €271 | €273 | +€2 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €3,261 | €6,233 | +€2,972 | +91.1% |
| Income taxes | 67/77 | €2,321 | €2,190 | -€131 | -5.6% |
| Profit (loss) for the period | 9904 | €940 | €4,043 | +€3,102 | +329.9% |
| Profit (loss) for the period to be appropriated | 9905 | €940 | €4,043 | +€3,102 | +329.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.