G.B.P.: 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.
G.B.P.
Largest movements
- Receivables within one year +€348,145
up €348,145 (+102.1%), from €340,829 to €688,973
of which Trade receivables: +€314,742
- Cash +€95,387
up €95,387 (+189.4%), from €50,365 to €145,752
mainly Net result for the year (+€257,342) and Tax, wage and social debts (+€125,306)
- Tangible fixed assets -€47,520
down €47,520 (-34.2%), from €139,135 to €91,615
of which Land and buildings: -€29,839
- Reserves +€704,245
up €704,245 (+4304.5%), from €16,361 to €720,606
of which Distributable reserves: +€714,356
- Profit (loss) carried forward -€446,903
down €446,903 (-100.0%), from €446,903 to €0
- Tax, wage and social debts +€125,306
up €125,306 (+2883.2%), from €4,346 to €129,652
- Trade debts +€15,630
new in 2025: €15,630
- Gross operating margin +€353,984
up €353,984 (+1169.4%), from €30,269 to €384,253
- Taxes +€118,477
up €118,477 (+1734.8%), from €6,830 to €125,306
- Depreciation -€6,319
down €6,319 (-31.2%), from €20,228 to €13,909
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 | €534,314 | €928,389 | +€394,074 | +73.8% |
| Fixed assets | 21/28 | €139,135 | €91,615 | -€47,520 | -34.2% |
| Tangible fixed assets | 22/27 | €139,135 | €91,615 | -€47,520 | -34.2% |
| Land and buildings | 22 | €118,667 | €88,828 | -€29,839 | -25.1% |
| Plant, machinery and equipment | 23 | €20,468 | €2,788 | -€17,680 | -86.4% |
| Current assets | 29/58 | €395,179 | €836,773 | +€441,594 | +111.7% |
| Amounts receivable within one year | 40/41 | €340,829 | €688,973 | +€348,145 | +102.1% |
| Trade receivables | 40 | - | €314,742 | +€314,742 | |
| Other amounts receivable | 41 | €340,829 | €374,231 | +€33,403 | +9.8% |
| Cash at bank and in hand | 54/58 | €50,365 | €145,752 | +€95,387 | +189.4% |
| Deferred charges and accrued income | 490/1 | €3,986 | €2,048 | -€1,938 | -48.6% |
| Total equity and liabilities | 10/49 | €534,314 | €928,389 | +€394,074 | +73.8% |
| Equity | 10/15 | €525,763 | €783,106 | +€257,342 | +48.9% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €16,361 | €720,606 | +€704,245 | +4304.5% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,111 | €0 | -€10,111 | -100.0% |
| Distributable reserves | 133 | - | €714,356 | +€714,356 | |
| Profit (loss) carried forward | 14 | €446,903 | €0 | -€446,903 | -100.0% |
| Provisions and deferred taxes | 16 | €3,455 | €0 | -€3,455 | -100.0% |
| Deferred taxes | 168 | €3,455 | €0 | -€3,455 | -100.0% |
| Amounts payable | 17/49 | €5,096 | €145,283 | +€140,187 | +2750.9% |
| Amounts payable within one year | 42/48 | €4,346 | €145,283 | +€140,937 | +3242.8% |
| Trade debts | 44 | - | €15,630 | +€15,630 | |
| Suppliers | 440/4 | - | €15,630 | +€15,630 | |
| Taxes, remuneration and social security | 45 | €4,346 | €129,652 | +€125,306 | +2883.2% |
| Taxes | 450/3 | €4,346 | €129,652 | +€125,306 | +2883.2% |
| Accrued charges and deferred income | 492/3 | €750 | €0 | -€750 | -100.0% |
| Non-recurring operating income | 76A | - | €367,745 | +€367,745 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,228 | €13,909 | -€6,319 | -31.2% |
| Other operating charges | 640/8 | €5,930 | €6,196 | +€266 | +4.5% |
| Non-recurring operating charges | 66A | - | €4,263 | +€4,263 | |
| Gross operating margin | 9900 | €30,269 | €384,253 | +€353,984 | +1169.4% |
| Operating profit (loss) | 9901 | €4,112 | €359,886 | +€355,774 | +8652.4% |
| Financial income | 75/76B | €19,802 | €19,375 | -€428 | -2.2% |
| Recurring financial income | 75 | €19,802 | €19,375 | -€428 | -2.2% |
| Financial charges | 65/66B | €33 | €67 | +€34 | +100.5% |
| Recurring financial charges | 65 | €33 | €67 | +€34 | +100.5% |
| Profit (loss) for the period before taxes | 9903 | €23,881 | €379,194 | +€355,313 | +1487.9% |
| Transfer from deferred taxes | 780 | €376 | €3,455 | +€3,079 | +819.2% |
| Income taxes | 67/77 | €6,830 | €125,306 | +€118,477 | +1734.8% |
| Profit (loss) for the period | 9904 | €17,427 | €257,342 | +€239,915 | +1376.7% |
| Transfer from tax-exempt reserves | 789 | €1,128 | €10,111 | +€8,983 | +796.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,555 | €267,453 | +€248,898 | +1341.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.