Ghille: 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.
Ghille
Largest movements
- Cash -€45,456
down €45,456 (-27.5%), from €165,028 to €119,571
mainly Other debts (-€129,126) and Tax, wage and social debts (-€12,838)
- Receivables within one year -€26,032
down €26,032 (-37.7%), from €68,973 to €42,941
of which Other amounts receivable: -€31,006
- Other debts -€129,126
down €129,126 (-51.5%), from €250,706 to €121,579
- Reserves +€68,153
up €68,153 (+1729.5%), from €3,941 to €72,093
- Tax, wage and social debts -€12,838
down €12,838 (-50.8%), from €25,272 to €12,433
- Gross operating margin +€8,694
up €8,694 (+10.1%), from €85,774 to €94,468
- Taxes +€2,696
up €2,696 (+16.6%), from €16,280 to €18,976
- Financial income +€1,283
up €1,283 (+111.7%), from €1,148 to €2,431
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 | €283,780 | €208,481 | -€75,299 | -26.5% |
| Fixed assets | 21/28 | €48,379 | €45,969 | -€2,410 | -5.0% |
| Tangible fixed assets | 22/27 | €48,379 | €45,969 | -€2,410 | -5.0% |
| Furniture and vehicles | 24 | €8,311 | €9,615 | +€1,304 | +15.7% |
| Other tangible fixed assets | 26 | €40,068 | €36,354 | -€3,714 | -9.3% |
| Current assets | 29/58 | €235,401 | €162,513 | -€72,889 | -31.0% |
| Amounts receivable within one year | 40/41 | €68,973 | €42,941 | -€26,032 | -37.7% |
| Trade receivables | 40 | €37,967 | €42,941 | +€4,974 | +13.1% |
| Other amounts receivable | 41 | €31,006 | - | -€31,006 | |
| Cash at bank and in hand | 54/58 | €165,028 | €119,571 | -€45,456 | -27.5% |
| Deferred charges and accrued income | 490/1 | €1,400 | - | -€1,400 | |
| Total equity and liabilities | 10/49 | €283,780 | €208,481 | -€75,299 | -26.5% |
| Equity | 10/15 | €5,941 | €74,093 | +€68,153 | +1147.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €3,941 | €72,093 | +€68,153 | +1729.5% |
| Distributable reserves | 133 | €3,941 | €72,093 | +€68,153 | +1729.5% |
| Amounts payable | 17/49 | €277,840 | €134,388 | -€143,451 | -51.6% |
| Amounts payable within one year | 42/48 | €277,840 | €134,388 | -€143,451 | -51.6% |
| Trade debts | 44 | €1,862 | €376 | -€1,487 | -79.8% |
| Suppliers | 440/4 | €1,862 | €376 | -€1,487 | -79.8% |
| Taxes, remuneration and social security | 45 | €25,272 | €12,433 | -€12,838 | -50.8% |
| Taxes | 450/3 | €25,272 | €12,433 | -€12,838 | -50.8% |
| Other amounts payable | 47/48 | €250,706 | €121,579 | -€129,126 | -51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,654 | €7,279 | +€625 | +9.4% |
| Other operating charges | 640/8 | €1,038 | €1,166 | +€128 | +12.4% |
| Gross operating margin | 9900 | €85,774 | €94,468 | +€8,694 | +10.1% |
| Operating profit (loss) | 9901 | €78,082 | €86,023 | +€7,941 | +10.2% |
| Financial income | 75/76B | €1,148 | €2,431 | +€1,283 | +111.7% |
| Recurring financial income | 75 | €1,148 | €2,431 | +€1,283 | +111.7% |
| Financial charges | 65/66B | €1,542 | €1,326 | -€217 | -14.0% |
| Recurring financial charges | 65 | €1,542 | €1,326 | -€217 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €77,688 | €87,128 | +€9,440 | +12.2% |
| Income taxes | 67/77 | €16,280 | €18,976 | +€2,696 | +16.6% |
| Profit (loss) for the period | 9904 | €61,408 | €68,153 | +€6,745 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,408 | €68,153 | +€6,745 | +11.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.