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
- Tangible fixed assets -€20,715
down €20,715 (-2.9%), from €715,396 to €694,681
of which Land and buildings: -€12,387
- Debts after one year -€31,020
down €31,020 (-5.0%), from €620,431 to €589,411
of which Other amounts payable: -€160,000
- Profit (loss) carried forward +€9,854
up €9,854 (+7.4%), from €132,378 to €142,231
- Gross operating margin +€14,584
up €14,584 (+15.4%), from €94,639 to €109,224
- Depreciation +€3,933
up €3,933 (+17.0%), from €23,082 to €27,014
- Taxes +€2,637
up €2,637 (+2,060%), from €128 to €2,765
- Staff costs +€1,477
up €1,477 (+2.9%), from €51,775 to €53,252
- Financial charges +€1,390
up €1,390 (+14.1%), from €9,875 to €11,265
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 | €828,001 | €817,244 | -€10,757 | -1.3% |
| Fixed assets | 21/28 | €715,396 | €694,681 | -€20,715 | -2.9% |
| Tangible fixed assets | 22/27 | €715,396 | €694,681 | -€20,715 | -2.9% |
| Land and buildings | 22 | €672,700 | €660,313 | -€12,387 | -1.8% |
| Plant, machinery and equipment | 23 | €6,429 | €6,382 | -€47 | -0.7% |
| Furniture and vehicles | 24 | €35,730 | €27,986 | -€7,744 | -21.7% |
| Other tangible fixed assets | 26 | €537 | - | -€537 | |
| Current assets | 29/58 | €112,605 | €122,563 | +€9,959 | +8.8% |
| Stocks and contracts in progress | 3 | €5,246 | €8,866 | +€3,620 | +69.0% |
| Stocks | 30/36 | €3,900 | €5,750 | +€1,850 | +47.4% |
| Contracts in progress | 37 | €1,346 | €3,116 | +€1,770 | +131% |
| Amounts receivable within one year | 40/41 | €28,027 | €32,356 | +€4,329 | +15.4% |
| Trade receivables | 40 | €5,533 | €24,295 | +€18,762 | +339% |
| Other amounts receivable | 41 | €22,494 | €8,062 | -€14,433 | -64.2% |
| Cash at bank and in hand | 54/58 | €77,676 | €77,869 | +€193 | +0.2% |
| Deferred charges and accrued income | 490/1 | €1,655 | €3,473 | +€1,817 | +110% |
| Total equity and liabilities | 10/49 | €828,001 | €817,244 | -€10,757 | -1.3% |
| Equity | 10/15 | €177,279 | €187,133 | +€9,854 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,301 | €26,301 | = | 0.0% |
| Distributable reserves | 133 | €26,301 | €26,301 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,378 | €142,231 | +€9,854 | +7.4% |
| Amounts payable | 17/49 | €650,722 | €630,111 | -€20,611 | -3.2% |
| Amounts payable after more than one year | 17 | €620,431 | €589,411 | -€31,020 | -5.0% |
| Financial debts | 170/4 | €460,431 | €589,411 | +€128,980 | +28.0% |
| Other amounts payable | 178/9 | €160,000 | - | -€160,000 | |
| Amounts payable within one year | 42/48 | €30,291 | €40,701 | +€10,409 | +34.4% |
| Current portion of amounts payable after more than one year | 42 | €30,291 | €31,020 | +€728 | +2.4% |
| Trade debts | 44 | - | €6,308 | +€6,308 | |
| Suppliers | 440/4 | - | €6,308 | +€6,308 | |
| Taxes, remuneration and social security | 45 | - | €3,373 | +€3,373 | |
| Taxes | 450/3 | - | €3,373 | +€3,373 | |
| Remuneration, social security and pensions | 62 | €51,775 | €53,252 | +€1,477 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,082 | €27,014 | +€3,933 | +17.0% |
| Other operating charges | 640/8 | €3,710 | €3,073 | -€637 | -17.2% |
| Non-recurring operating charges | 66A | - | €2,830 | +€2,830 | |
| Gross operating margin | 9900 | €94,639 | €109,224 | +€14,584 | +15.4% |
| Operating profit (loss) | 9901 | €16,072 | €23,054 | +€6,982 | +43.4% |
| Financial income | 75/76B | €740 | €829 | +€89 | +12.0% |
| Recurring financial income | 75 | €740 | €829 | +€89 | +12.0% |
| Financial charges | 65/66B | €9,875 | €11,265 | +€1,390 | +14.1% |
| Recurring financial charges | 65 | €9,875 | €11,265 | +€1,390 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | €6,938 | €12,618 | +€5,680 | +81.9% |
| Income taxes | 67/77 | €128 | €2,765 | +€2,637 | +2,060% |
| Profit (loss) for the period | 9904 | €6,810 | €9,854 | +€3,044 | +44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,810 | €9,854 | +€3,044 | +44.7% |
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 19 October 2026 via checked.be.