G.B.N.: 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.N.
Largest movements
- Tangible fixed assets +€20,513
up €20,513 (+3.2%), from €640,370 to €660,882
of which Land and buildings: +€20,347
- Cash -€7,827
down €7,827 (-34.7%), from €22,582 to €14,755
mainly Investment in fixed assets (net) (-€22,712) and Debts after one year (-€21,960)
- Profit (loss) carried forward +€61,455
up €61,455 (+35.5%), from €173,248 to €234,703
- Reserves -€29,551
down €29,551 (-28.2%), from €104,712 to €75,162
of which Distributable reserves: -€29,551
- Debts after one year -€21,960
down €21,960 (-11.6%), from €188,989 to €167,029
- Depreciation +€1,797
up €1,797 (+447%), from €402 to €2,199
- Gross operating margin -€1,695
down €1,695 (-2.8%), from €61,007 to €59,312
- Financial charges +€613
up €613 (+8.8%), from €6,960 to €7,573
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 | €665,692 | €675,637 | +€9,945 | +1.5% |
| Fixed assets | 21/28 | €640,370 | €660,882 | +€20,513 | +3.2% |
| Tangible fixed assets | 22/27 | €640,370 | €660,882 | +€20,513 | +3.2% |
| Land and buildings | 22 | €640,370 | €660,717 | +€20,347 | +3.2% |
| Furniture and vehicles | 24 | - | €165 | +€165 | |
| Current assets | 29/58 | €25,322 | €14,755 | -€10,568 | -41.7% |
| Amounts receivable within one year | 40/41 | €2,740 | - | -€2,740 | |
| Other amounts receivable | 41 | €2,740 | - | -€2,740 | |
| Cash at bank and in hand | 54/58 | €22,582 | €14,755 | -€7,827 | -34.7% |
| Total equity and liabilities | 10/49 | €665,692 | €675,637 | +€9,945 | +1.5% |
| Equity | 10/15 | €339,961 | €371,865 | +€31,904 | +9.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | - | -€62,000 | |
| Issued capital | 100 | €62,000 | - | -€62,000 | |
| Reserves | 13 | €104,712 | €75,162 | -€29,551 | -28.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | - | -€6,200 | |
| Reserves not available under the articles | 1311 | - | €6,200 | +€6,200 | |
| Distributable reserves | 133 | €98,512 | €68,962 | -€29,551 | -30.0% |
| Profit (loss) carried forward | 14 | €173,248 | €234,703 | +€61,455 | +35.5% |
| Amounts payable | 17/49 | €325,731 | €303,772 | -€21,959 | -6.7% |
| Amounts payable after more than one year | 17 | €188,989 | €167,029 | -€21,960 | -11.6% |
| Financial debts | 170/4 | €188,989 | €167,029 | -€21,960 | -11.6% |
| Amounts payable within one year | 42/48 | €136,742 | €136,743 | +€1 | 0.0% |
| Trade debts | 44 | €664 | €877 | +€213 | +32.1% |
| Suppliers | 440/4 | €664 | €877 | +€213 | +32.1% |
| Advances received on contracts in progress | 46 | - | €630 | +€630 | |
| Taxes, remuneration and social security | 45 | €21,235 | €24,785 | +€3,550 | +16.7% |
| Taxes | 450/3 | €21,235 | €24,785 | +€3,550 | +16.7% |
| Other amounts payable | 47/48 | €114,843 | €110,452 | -€4,392 | -3.8% |
| Non-recurring operating income | 76A | - | €5,716 | +€5,716 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €402 | €2,199 | +€1,797 | +447% |
| Other operating charges | 640/8 | €6,098 | €6,287 | +€189 | +3.1% |
| Gross operating margin | 9900 | €61,007 | €59,312 | -€1,695 | -2.8% |
| Operating profit (loss) | 9901 | €54,507 | €50,826 | -€3,681 | -6.8% |
| Financial income | 75/76B | - | €51 | +€51 | |
| Recurring financial income | 75 | - | €51 | +€51 | |
| Financial charges | 65/66B | €6,960 | €7,573 | +€613 | +8.8% |
| Recurring financial charges | 65 | €6,960 | €7,573 | +€613 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €47,547 | €43,303 | -€4,244 | -8.9% |
| Income taxes | 67/77 | €12,700 | €12,334 | -€366 | -2.9% |
| Profit (loss) for the period | 9904 | €34,847 | €30,969 | -€3,878 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,847 | €30,969 | -€3,878 | -11.1% |
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 26 October 2026 via checked.be.