G.B.E. GROUP: 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.B.E. GROUP
Largest movements
- Stocks and contracts -€13,992
no longer reported in 2025 (was €13,992)
- Cash -€8,954
down €8,954 (-83.9%), from €10,669 to €1,716
mainly Advances received (-€14,832) and Receivables within one year (-€8,393)
- Receivables within one year +€8,393
up €8,393 (+42.7%), from €19,679 to €28,072
of which Trade receivables: +€10,573
- Tangible fixed assets +€3,527
new in 2025: €3,527
- Deferred charges and accrued income +€806
new in 2025: €806
- Advances received -€14,832
no longer reported in 2025 (was €14,832)
- Profit (loss) carried forward +€3,253
up €3,253 (+32.2%), from -€10,099 to -€6,846
- Tax, wage and social debts +€1,075
up €1,075 (+20,674%), from €5 to €1,080
- Gross operating margin +€13,666
up €13,666, from -€9,642 to €4,024
- Depreciation +€622
new in 2025: €622
- Other operating charges -€383
down €383 (-33.5%), from €1,143 to €761
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 | €44,590 | €34,121 | -€10,470 | -23.5% |
| Fixed assets | 21/28 | €250 | €3,527 | +€3,277 | +1,311% |
| Tangible fixed assets | 22/27 | - | €3,527 | +€3,527 | |
| Other tangible fixed assets | 26 | - | €3,527 | +€3,527 | |
| Financial fixed assets | 28 | €250 | - | -€250 | |
| Current assets | 29/58 | €44,340 | €30,593 | -€13,747 | -31.0% |
| Stocks and contracts in progress | 3 | €13,992 | - | -€13,992 | |
| Contracts in progress | 37 | €13,992 | - | -€13,992 | |
| Amounts receivable within one year | 40/41 | €19,679 | €28,072 | +€8,393 | +42.7% |
| Trade receivables | 40 | €5,398 | €15,971 | +€10,573 | +196% |
| Other amounts receivable | 41 | €14,281 | €12,101 | -€2,180 | -15.3% |
| Cash at bank and in hand | 54/58 | €10,669 | €1,716 | -€8,954 | -83.9% |
| Deferred charges and accrued income | 490/1 | - | €806 | +€806 | |
| Total equity and liabilities | 10/49 | €44,590 | €34,121 | -€10,470 | -23.5% |
| Equity | 10/15 | €29,210 | €32,463 | +€3,253 | +11.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,709 | €20,709 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €18,849 | €18,849 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,099 | -€6,846 | +€3,253 | +32.2% |
| Amounts payable | 17/49 | €15,380 | €1,657 | -€13,723 | -89.2% |
| Amounts payable within one year | 42/48 | €15,380 | €1,657 | -€13,723 | -89.2% |
| Trade debts | 44 | €543 | €577 | +€34 | +6.2% |
| Suppliers | 440/4 | €543 | €577 | +€34 | +6.2% |
| Advances received on contracts in progress | 46 | €14,832 | - | -€14,832 | |
| Taxes, remuneration and social security | 45 | €5 | €1,080 | +€1,075 | +20,674% |
| Taxes | 450/3 | €5 | €1,080 | +€1,075 | +20,674% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €622 | +€622 | |
| Other operating charges | 640/8 | €1,143 | €761 | -€383 | -33.5% |
| Gross operating margin | 9900 | -€9,642 | €4,024 | +€13,666 | |
| Operating profit (loss) | 9901 | -€10,786 | €2,641 | +€13,426 | |
| Financial income | 75/76B | €739 | €659 | -€80 | -10.9% |
| Recurring financial income | 75 | €739 | €659 | -€80 | -10.9% |
| Financial charges | 65/66B | €53 | €46 | -€7 | -12.6% |
| Recurring financial charges | 65 | €53 | €46 | -€7 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,099 | €3,253 | +€13,352 | |
| Profit (loss) for the period | 9904 | -€10,099 | €3,253 | +€13,352 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,099 | €3,253 | +€13,352 |
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 25 October 2026 via checked.be.