R.GIOVANNI: 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.
R.GIOVANNI
Largest movements
- Receivables within one year -€238,885
down €238,885 (-73.5%), from €325,144 to €86,259
of which Trade receivables: -€181,434
- Cash -€66,627
down €66,627 (-42.8%), from €155,847 to €89,219
mainly Trade debts (-€173,989) and Other debts (-€80,000)
- Tangible fixed assets -€30,100
down €30,100 (-71.7%), from €41,953 to €11,853
of which Furniture and vehicles: -€20,980
- Trade debts -€173,989
down €173,989 (-87.7%), from €198,504 to €24,515
- Other debts -€80,000
no longer reported in 2025 (was €80,000)
- Tax, wage and social debts -€50,371
down €50,371 (-92.8%), from €54,255 to €3,884
- Profit (loss) carried forward -€30,276
down €30,276 (-20.2%), from €150,184 to €119,908
- Gross operating margin -€24,338
down €24,338 (-42.9%), from €56,698 to €32,360
- Depreciation +€24,185
up €24,185 (+71.9%), from €33,646 to €57,831
- Taxes -€20,248
down €20,248, from €19,782 to -€466
- Financial charges -€3,054
down €3,054 (-83.6%), from €3,652 to €598
- Other operating charges +€3,048
up €3,048 (+188%), from €1,624 to €4,673
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 | €522,944 | €188,307 | -€334,637 | -64.0% |
| Fixed assets | 21/28 | €41,953 | €11,853 | -€30,100 | -71.7% |
| Tangible fixed assets | 22/27 | €41,953 | €11,853 | -€30,100 | -71.7% |
| Plant, machinery and equipment | 23 | €4,582 | €11,853 | +€7,271 | +159% |
| Furniture and vehicles | 24 | €20,980 | - | -€20,980 | |
| Leasing and similar rights | 25 | €16,391 | - | -€16,391 | |
| Current assets | 29/58 | €480,991 | €176,454 | -€304,536 | -63.3% |
| Amounts receivable within one year | 40/41 | €325,144 | €86,259 | -€238,885 | -73.5% |
| Trade receivables | 40 | €187,636 | €6,202 | -€181,434 | -96.7% |
| Other amounts receivable | 41 | €137,508 | €80,058 | -€57,451 | -41.8% |
| Cash at bank and in hand | 54/58 | €155,847 | €89,219 | -€66,627 | -42.8% |
| Deferred charges and accrued income | 490/1 | - | €976 | +€976 | |
| Total equity and liabilities | 10/49 | €522,944 | €188,307 | -€334,637 | -64.0% |
| Equity | 10/15 | €190,184 | €159,908 | -€30,276 | -15.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €150,184 | €119,908 | -€30,276 | -20.2% |
| Amounts payable | 17/49 | €332,760 | €28,399 | -€304,360 | -91.5% |
| Amounts payable within one year | 42/48 | €332,760 | €28,399 | -€304,360 | -91.5% |
| Trade debts | 44 | €198,504 | €24,515 | -€173,989 | -87.7% |
| Suppliers | 440/4 | €198,504 | €24,515 | -€173,989 | -87.7% |
| Taxes, remuneration and social security | 45 | €54,255 | €3,884 | -€50,371 | -92.8% |
| Taxes | 450/3 | €54,255 | €3,884 | -€50,371 | -92.8% |
| Other amounts payable | 47/48 | €80,000 | - | -€80,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,646 | €57,831 | +€24,185 | +71.9% |
| Other operating charges | 640/8 | €1,624 | €4,673 | +€3,048 | +188% |
| Gross operating margin | 9900 | €56,698 | €32,360 | -€24,338 | -42.9% |
| Operating profit (loss) | 9901 | €21,427 | -€30,144 | -€51,571 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,652 | €598 | -€3,054 | -83.6% |
| Recurring financial charges | 65 | €3,652 | €598 | -€3,054 | -83.6% |
| Profit (loss) for the period before taxes | 9903 | €17,775 | -€30,742 | -€48,517 | |
| Income taxes | 67/77 | €19,782 | -€466 | -€20,248 | |
| Profit (loss) for the period | 9904 | -€2,007 | -€30,276 | -€28,269 | -1,408% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,007 | -€30,276 | -€28,269 | -1,408% |
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.