GIUSEPPE: 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.
GIUSEPPE
Largest movements
- Cash -€42,973
down €42,973 (-84.9%), from €50,640 to €7,667
mainly Net result for the year (-€38,007) and Other debts (-€15,234)
- Tangible fixed assets -€5,381
down €5,381 (-27.7%), from €19,453 to €14,072
of which Furniture and vehicles: -€6,068
- Receivables within one year +€4,264
up €4,264 (+36.6%), from €11,666 to €15,930
of which Trade receivables: +€4,204
- Stocks and contracts -€1,869
down €1,869 (-27.7%), from €6,757 to €4,888
- Profit (loss) carried forward -€38,007
down €38,007, from €14,467 to -€23,540
- Other debts -€15,234
down €15,234 (-100.0%), from €15,238 to €4
- Trade debts +€14,883
new in 2025: €14,883
- Debts after one year -€5,422
no longer reported in 2025 (was €5,422)
- Current portion of long-term debt -€1,190
down €1,190 (-18.0%), from €6,612 to €5,422
- Staff costs +€32,244
up €32,244 (+107%), from €30,081 to €62,325
- Gross operating margin +€12,961
up €12,961 (+24.5%), from €52,923 to €65,884
- Depreciation -€4,529
down €4,529 (-50.2%), from €9,026 to €4,497
- Taxes -€2,396
down €2,396 (-96.2%), from €2,491 to €95
- Financial income -€1,559
down €1,559 (-98.5%), from €1,583 to €24
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 | €89,366 | €43,407 | -€45,959 | -51.4% |
| Fixed assets | 21/28 | €20,303 | €14,922 | -€5,381 | -26.5% |
| Tangible fixed assets | 22/27 | €19,453 | €14,072 | -€5,381 | -27.7% |
| Plant, machinery and equipment | 23 | €13,385 | €14,072 | +€687 | +5.1% |
| Furniture and vehicles | 24 | €6,068 | - | -€6,068 | |
| Financial fixed assets | 28 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €69,063 | €28,485 | -€40,578 | -58.8% |
| Stocks and contracts in progress | 3 | €6,757 | €4,888 | -€1,869 | -27.7% |
| Stocks | 30/36 | €6,757 | €4,888 | -€1,869 | -27.7% |
| Amounts receivable within one year | 40/41 | €11,666 | €15,930 | +€4,264 | +36.6% |
| Trade receivables | 40 | €10,146 | €14,350 | +€4,204 | +41.4% |
| Other amounts receivable | 41 | €1,520 | €1,580 | +€60 | +3.9% |
| Cash at bank and in hand | 54/58 | €50,640 | €7,667 | -€42,973 | -84.9% |
| Total equity and liabilities | 10/49 | €89,366 | €43,407 | -€45,959 | -51.4% |
| Equity | 10/15 | €46,867 | €8,860 | -€38,007 | -81.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,467 | -€23,540 | -€38,007 | |
| Investment grants | 15 | €2,400 | €2,400 | = | 0.0% |
| Amounts payable | 17/49 | €42,499 | €34,547 | -€7,952 | -18.7% |
| Amounts payable after more than one year | 17 | €5,422 | - | -€5,422 | |
| Financial debts | 170/4 | €5,422 | - | -€5,422 | |
| Amounts payable within one year | 42/48 | €37,077 | €34,547 | -€2,530 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €6,612 | €5,422 | -€1,190 | -18.0% |
| Trade debts | 44 | - | €14,883 | +€14,883 | |
| Suppliers | 440/4 | - | €14,883 | +€14,883 | |
| Taxes, remuneration and social security | 45 | €15,227 | €14,238 | -€989 | -6.5% |
| Taxes | 450/3 | €4,813 | €3,853 | -€960 | -19.9% |
| Remuneration and social security | 454/9 | €10,414 | €10,385 | -€29 | -0.3% |
| Other amounts payable | 47/48 | €15,238 | €4 | -€15,234 | -100.0% |
| Remuneration, social security and pensions | 62 | €30,081 | €62,325 | +€32,244 | +107% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,026 | €4,497 | -€4,529 | -50.2% |
| Other operating charges | 640/8 | €1,841 | €855 | -€986 | -53.6% |
| Non-recurring operating charges | 66A | - | €33,934 | +€33,934 | |
| Gross operating margin | 9900 | €52,923 | €65,884 | +€12,961 | +24.5% |
| Operating profit (loss) | 9901 | €11,975 | -€35,727 | -€47,702 | |
| Financial income | 75/76B | €1,583 | €24 | -€1,559 | -98.5% |
| Recurring financial income | 75 | €1,583 | €24 | -€1,559 | -98.5% |
| Financial charges | 65/66B | €3,062 | €2,209 | -€853 | -27.8% |
| Recurring financial charges | 65 | €3,062 | €2,209 | -€853 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €10,496 | -€37,912 | -€48,408 | |
| Income taxes | 67/77 | €2,491 | €95 | -€2,396 | -96.2% |
| Profit (loss) for the period | 9904 | €8,005 | -€38,007 | -€46,012 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,005 | -€38,007 | -€46,012 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.