G.A.B.A.R.: 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.
G.A.B.A.R.
Largest movements
- Tangible fixed assets -€55,059
down €55,059 (-15.3%), from €359,370 to €304,311
of which Land and buildings: -€44,317
- Receivables within one year -€29,670
no longer reported in 2025 (was €29,670)
- Intangible fixed assets +€21,719
new in 2025: €21,719
- Cash +€12,615
up €12,615 (+22.5%), from €56,128 to €68,743
mainly Depreciation (+€56,947) and Short-term financial debts (+€44,578)
- Profit (loss) carried forward -€99,122
down €99,122 (-12.5%), from -€792,889 to -€892,011
- Short-term financial debts +€44,578
up €44,578 (+21.2%), from €210,299 to €254,877
- Other operating charges +€17,309
up €17,309 (+694%), from €2,494 to €19,803
- Gross operating margin -€3,518
down €3,518 (-18.7%), from -€18,783 to -€22,300
- Depreciation +€1,297
up €1,297 (+2.3%), from €55,650 to €56,947
- Taxes -€760
no longer reported in 2025 (was €760)
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 | €445,198 | €394,803 | -€50,394 | -11.3% |
| Fixed assets | 21/28 | €359,399 | €326,060 | -€33,339 | -9.3% |
| Intangible fixed assets | 21 | - | €21,719 | +€21,719 | |
| Tangible fixed assets | 22/27 | €359,370 | €304,311 | -€55,059 | -15.3% |
| Land and buildings | 22 | €284,817 | €240,500 | -€44,317 | -15.6% |
| Plant, machinery and equipment | 23 | €70,476 | €59,912 | -€10,563 | -15.0% |
| Leasing and similar rights | 25 | €4,077 | €3,899 | -€178 | -4.4% |
| Financial fixed assets | 28 | €29 | €29 | = | 0.0% |
| Current assets | 29/58 | €85,798 | €68,743 | -€17,055 | -19.9% |
| Amounts receivable within one year | 40/41 | €29,670 | - | -€29,670 | |
| Other amounts receivable | 41 | €29,670 | - | -€29,670 | |
| Cash at bank and in hand | 54/58 | €56,128 | €68,743 | +€12,615 | +22.5% |
| Total equity and liabilities | 10/49 | €445,198 | €394,803 | -€50,394 | -11.3% |
| Equity | 10/15 | €231,467 | €132,345 | -€99,122 | -42.8% |
| Contributions | 10/11 | €991,560 | €991,560 | = | 0.0% |
| Contributions outside capital | 11 | €991,560 | €991,560 | = | 0.0% |
| Other | 1109/19 | €991,560 | €991,560 | = | 0.0% |
| Reserves | 13 | €32,795 | €32,795 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,475 | €25,475 | = | 0.0% |
| Legal reserve | 130 | €25,475 | €25,475 | = | 0.0% |
| Distributable reserves | 133 | €7,321 | €7,321 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€792,889 | -€892,011 | -€99,122 | -12.5% |
| Amounts payable | 17/49 | €213,731 | €262,458 | +€48,727 | +22.8% |
| Amounts payable within one year | 42/48 | €213,731 | €262,458 | +€48,727 | +22.8% |
| Financial debts | 43 | €210,299 | €254,877 | +€44,578 | +21.2% |
| Other loans | 439 | €210,299 | €254,877 | +€44,578 | +21.2% |
| Trade debts | 44 | €3,432 | €7,581 | +€4,149 | +121% |
| Suppliers | 440/4 | €3,432 | €7,581 | +€4,149 | +121% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,650 | €56,947 | +€1,297 | +2.3% |
| Other operating charges | 640/8 | €2,494 | €19,803 | +€17,309 | +694% |
| Gross operating margin | 9900 | -€18,783 | -€22,300 | -€3,518 | -18.7% |
| Operating profit (loss) | 9901 | -€76,926 | -€99,050 | -€22,124 | -28.8% |
| Financial income | 75/76B | €116 | €162 | +€45 | +38.8% |
| Recurring financial income | 75 | €116 | €162 | +€45 | +38.8% |
| Financial charges | 65/66B | €214 | €233 | +€19 | +8.7% |
| Recurring financial charges | 65 | €214 | €233 | +€19 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | -€77,024 | -€99,122 | -€22,097 | -28.7% |
| Income taxes | 67/77 | €760 | - | -€760 | |
| Profit (loss) for the period | 9904 | -€77,784 | -€99,122 | -€21,337 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€77,784 | -€99,122 | -€21,337 | -27.4% |
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 31 October 2026 via checked.be.