S. GILLON: 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.
S. GILLON
Largest movements
- Tangible fixed assets +€122,882
up €122,882 (+281%), from €43,734 to €166,616
of which Leasing and similar rights: +€120,372
- Receivables within one year +€94,236
up €94,236 (+36.0%), from €261,860 to €356,095
of which Other amounts receivable: +€63,936
- Cash +€12,762
up €12,762 (+149%), from €8,563 to €21,325
mainly Trade debts (+€115,411) and Debts after one year (+€111,863)
- Trade debts +€115,411
up €115,411 (+90.5%), from €127,524 to €242,935
- Debts after one year +€111,863
up €111,863 (+7,122%), from €1,571 to €113,434
- Reserves +€90,000
up €90,000 (+4,841%), from €1,859 to €91,859
of which Distributable reserves: +€90,000
- Profit (loss) carried forward -€61,094
down €61,094 (-88.1%), from €69,373 to €8,279
- Other debts -€35,595
down €35,595 (-89.0%), from €39,986 to €4,391
- Gross operating margin +€58,702
up €58,702 (+37.0%), from €158,546 to €217,249
- Staff costs +€38,148
up €38,148 (+79.9%), from €47,753 to €85,901
- Depreciation +€27,352
up €27,352 (+48.9%), from €55,885 to €83,237
- Financial charges +€8,343
up €8,343 (+315%), from €2,645 to €10,988
- Taxes +€3,664
up €3,664 (+51.6%), from €7,102 to €10,766
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €319,600 | €546,864 | +€227,264 | +71.1% |
| Fixed assets | 21/28 | €43,734 | €166,969 | +€123,236 | +282% |
| Tangible fixed assets | 22/27 | €43,734 | €166,616 | +€122,882 | +281% |
| Land and buildings | 22 | €1,197 | €962 | -€235 | -19.6% |
| Plant, machinery and equipment | 23 | €3,571 | €6,049 | +€2,478 | +69.4% |
| Furniture and vehicles | 24 | €2,452 | €2,726 | +€274 | +11.2% |
| Leasing and similar rights | 25 | €36,507 | €156,879 | +€120,372 | +330% |
| Other tangible fixed assets | 26 | €7 | €0 | -€7 | -100% |
| Financial fixed assets | 28 | - | €354 | +€354 | |
| Current assets | 29/58 | €275,867 | €379,895 | +€104,029 | +37.7% |
| Amounts receivable within one year | 40/41 | €261,860 | €356,095 | +€94,236 | +36.0% |
| Trade receivables | 40 | €120,003 | €150,303 | +€30,300 | +25.2% |
| Other amounts receivable | 41 | €141,857 | €205,792 | +€63,936 | +45.1% |
| Cash at bank and in hand | 54/58 | €8,563 | €21,325 | +€12,762 | +149% |
| Deferred charges and accrued income | 490/1 | €5,444 | €2,475 | -€2,969 | -54.5% |
| Total equity and liabilities | 10/49 | €319,600 | €546,864 | +€227,264 | +71.1% |
| Equity | 10/15 | €79,620 | €117,269 | +€37,648 | +47.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €91,859 | +€90,000 | +4,841% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | - | €90,000 | +€90,000 | |
| Profit (loss) carried forward | 14 | €69,373 | €8,279 | -€61,094 | -88.1% |
| Investment grants | 15 | €2,190 | €10,933 | +€8,742 | +399% |
| Amounts payable | 17/49 | €239,980 | €429,596 | +€189,616 | +79.0% |
| Amounts payable after more than one year | 17 | €1,571 | €113,434 | +€111,863 | +7,122% |
| Financial debts | 170/4 | €1,571 | €113,434 | +€111,863 | +7,122% |
| Amounts payable within one year | 42/48 | €236,893 | €315,851 | +€78,958 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €29,731 | €44,724 | +€14,993 | +50.4% |
| Financial debts | 43 | €14,941 | €9,628 | -€5,313 | -35.6% |
| Credit institutions | 430/8 | €14,941 | €9,628 | -€5,313 | -35.6% |
| Trade debts | 44 | €127,524 | €242,935 | +€115,411 | +90.5% |
| Suppliers | 440/4 | €127,524 | €242,935 | +€115,411 | +90.5% |
| Taxes, remuneration and social security | 45 | €24,711 | €14,173 | -€10,538 | -42.6% |
| Taxes | 450/3 | €19,069 | €7,622 | -€11,447 | -60.0% |
| Remuneration and social security | 454/9 | €5,642 | €6,550 | +€908 | +16.1% |
| Other amounts payable | 47/48 | €39,986 | €4,391 | -€35,595 | -89.0% |
| Accrued charges and deferred income | 492/3 | €1,516 | €312 | -€1,204 | -79.4% |
| Remuneration, social security and pensions | 62 | €47,753 | €85,901 | +€38,148 | +79.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,885 | €83,237 | +€27,352 | +48.9% |
| Other operating charges | 640/8 | €2,257 | €2,000 | -€257 | -11.4% |
| Non-recurring operating charges | 66A | - | €4,789 | +€4,789 | |
| Gross operating margin | 9900 | €158,546 | €217,249 | +€58,702 | +37.0% |
| Operating profit (loss) | 9901 | €52,651 | €41,321 | -€11,330 | -21.5% |
| Financial income | 75/76B | €8,404 | €8,872 | +€467 | +5.6% |
| Recurring financial income | 75 | €8,404 | €8,872 | +€467 | +5.6% |
| Financial charges | 65/66B | €2,645 | €10,988 | +€8,343 | +315% |
| Recurring financial charges | 65 | €2,645 | €10,988 | +€8,343 | +315% |
| Profit (loss) for the period before taxes | 9903 | €58,410 | €39,205 | -€19,206 | -32.9% |
| Income taxes | 67/77 | €7,102 | €10,766 | +€3,664 | +51.6% |
| Profit (loss) for the period | 9904 | €51,309 | €28,439 | -€22,870 | -44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €51,309 | €28,439 | -€22,870 | -44.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.