G.B.S.: 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.S.
Largest movements
- Receivables within one year +€8,812
up €8,812 (+14.1%), from €62,527 to €71,340
of which Trade receivables: +€8,769
- Deferred charges and accrued income +€4,658
up €4,658 (+400%), from €1,165 to €5,823
- Cash -€4,063
down €4,063 (-17.1%), from €23,802 to €19,739
mainly Contributions, distributions and other (-€49,000) and Debts after one year (-€10,150)
- Reserves -€36,414
down €36,414 (-86.6%), from €42,064 to €5,650
- Other debts +€25,000
new in 2025: €25,000
- Trade debts +€21,568
up €21,568 (+67.5%), from €31,941 to €53,508
- Debts after one year -€10,150
down €10,150 (-66.0%), from €15,386 to €5,236
- Current portion of long-term debt +€5,128
new in 2025: €5,128
- Gross operating margin +€43,012
up €43,012 (+67.9%), from €63,353 to €106,365
- Staff costs +€35,246
up €35,246 (+84.7%), from €41,623 to €76,869
- Taxes +€2,876
up €2,876 (+69.4%), from €4,146 to €7,022
- Other operating charges +€1,426
up €1,426 (+159%), from €900 to €2,326
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 | €110,394 | €119,946 | +€9,552 | +8.7% |
| Fixed assets | 21/28 | €22,899 | €23,045 | +€145 | +0.6% |
| Tangible fixed assets | 22/27 | €17,499 | €17,046 | -€454 | -2.6% |
| Plant, machinery and equipment | 23 | - | €3,298 | +€3,298 | |
| Furniture and vehicles | 24 | €853 | €2,686 | +€1,833 | +215% |
| Leasing and similar rights | 25 | €16,646 | €11,062 | -€5,584 | -33.5% |
| Financial fixed assets | 28 | €5,400 | €5,999 | +€599 | +11.1% |
| Current assets | 29/58 | €87,494 | €96,901 | +€9,407 | +10.8% |
| Amounts receivable within one year | 40/41 | €62,527 | €71,340 | +€8,812 | +14.1% |
| Trade receivables | 40 | €61,486 | €70,255 | +€8,769 | +14.3% |
| Other amounts receivable | 41 | €1,041 | €1,084 | +€43 | +4.1% |
| Cash at bank and in hand | 54/58 | €23,802 | €19,739 | -€4,063 | -17.1% |
| Deferred charges and accrued income | 490/1 | €1,165 | €5,823 | +€4,658 | +400% |
| Total equity and liabilities | 10/49 | €110,394 | €119,946 | +€9,552 | +8.7% |
| Equity | 10/15 | €47,064 | €10,650 | -€36,414 | -77.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €42,064 | €5,650 | -€36,414 | -86.6% |
| Distributable reserves | 133 | €42,064 | €5,650 | -€36,414 | -86.6% |
| Amounts payable | 17/49 | €63,330 | €109,296 | +€45,966 | +72.6% |
| Amounts payable after more than one year | 17 | €15,386 | €5,236 | -€10,150 | -66.0% |
| Financial debts | 170/4 | €15,386 | €5,236 | -€10,150 | -66.0% |
| Amounts payable within one year | 42/48 | €47,944 | €104,060 | +€56,116 | +117% |
| Current portion of amounts payable after more than one year | 42 | - | €5,128 | +€5,128 | |
| Financial debts | 43 | €59 | €1,585 | +€1,526 | +2,586% |
| Credit institutions | 430/8 | €59 | €1,585 | +€1,526 | +2,586% |
| Trade debts | 44 | €31,941 | €53,508 | +€21,568 | +67.5% |
| Suppliers | 440/4 | €31,941 | €53,508 | +€21,568 | +67.5% |
| Taxes, remuneration and social security | 45 | €15,944 | €18,839 | +€2,894 | +18.2% |
| Taxes | 450/3 | €8,247 | €11,912 | +€3,665 | +44.4% |
| Remuneration and social security | 454/9 | €7,697 | €6,927 | -€770 | -10.0% |
| Other amounts payable | 47/48 | - | €25,000 | +€25,000 | |
| Remuneration, social security and pensions | 62 | €41,623 | €76,869 | +€35,246 | +84.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,068 | €6,903 | +€835 | +13.8% |
| Other operating charges | 640/8 | €900 | €2,326 | +€1,426 | +159% |
| Gross operating margin | 9900 | €63,353 | €106,365 | +€43,012 | +67.9% |
| Operating profit (loss) | 9901 | €14,762 | €20,267 | +€5,505 | +37.3% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €756 | €664 | -€92 | -12.2% |
| Recurring financial charges | 65 | €756 | €664 | -€92 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €14,006 | €19,608 | +€5,602 | +40.0% |
| Income taxes | 67/77 | €4,146 | €7,022 | +€2,876 | +69.4% |
| Profit (loss) for the period | 9904 | €9,859 | €12,586 | +€2,727 | +27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,859 | €12,586 | +€2,727 | +27.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.