GABELEC: 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.
GABELEC
Largest movements
- Intangible fixed assets -€13,000
down €13,000 (-11.5%), from €112,738 to €99,738
- Cash +€12,506
up €12,506 (+33.2%), from €37,714 to €50,220
mainly Depreciation (+€22,420) and Net result for the year (+€20,681)
- Tangible fixed assets -€6,763
down €6,763 (-58.7%), from €11,527 to €4,763
of which Furniture and vehicles: -€5,368
- Debts after one year -€25,796
down €25,796 (-24.4%), from €105,876 to €80,080
- Reserves +€20,681
up €20,681 (+143.6%), from €14,398 to €35,080
- Trade debts -€3,386
down €3,386 (-45.0%), from €7,523 to €4,136
- Tax, wage and social debts +€2,714
up €2,714 (+167.6%), from €1,620 to €4,334
of which Remuneration and social security: +€3,118
- Gross operating margin +€15,942
up €15,942 (+43.9%), from €36,291 to €52,234
- Taxes +€3,582
up €3,582 (+196.9%), from €1,819 to €5,401
- Depreciation -€2,392
down €2,392 (-9.6%), from €24,812 to €22,420
- Financial income -€1,077
down €1,077 (-99.2%), from €1,086 to €9
- Financial charges -€662
down €662 (-17.7%), from €3,738 to €3,077
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 | €169,966 | €161,944 | -€8,022 | -4.7% |
| Fixed assets | 21/28 | €124,264 | €104,501 | -€19,763 | -15.9% |
| Intangible fixed assets | 21 | €112,738 | €99,738 | -€13,000 | -11.5% |
| Tangible fixed assets | 22/27 | €11,527 | €4,763 | -€6,763 | -58.7% |
| Plant, machinery and equipment | 23 | €5,143 | €3,747 | -€1,396 | -27.1% |
| Furniture and vehicles | 24 | €6,384 | €1,016 | -€5,368 | -84.1% |
| Current assets | 29/58 | €45,701 | €57,443 | +€11,742 | +25.7% |
| Amounts receivable within one year | 40/41 | €5,956 | €5,076 | -€880 | -14.8% |
| Trade receivables | 40 | €1,833 | €1,603 | -€230 | -12.5% |
| Other amounts receivable | 41 | €4,123 | €3,473 | -€650 | -15.8% |
| Cash at bank and in hand | 54/58 | €37,714 | €50,220 | +€12,506 | +33.2% |
| Deferred charges and accrued income | 490/1 | €2,031 | €2,147 | +€116 | +5.7% |
| Total equity and liabilities | 10/49 | €169,966 | €161,944 | -€8,022 | -4.7% |
| Equity | 10/15 | €24,398 | €45,080 | +€20,681 | +84.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €14,398 | €35,080 | +€20,681 | +143.6% |
| Distributable reserves | 133 | €14,398 | €35,080 | +€20,681 | +143.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €145,567 | €116,865 | -€28,703 | -19.7% |
| Amounts payable after more than one year | 17 | €105,876 | €80,080 | -€25,796 | -24.4% |
| Financial debts | 170/4 | €105,876 | €80,080 | -€25,796 | -24.4% |
| Amounts payable within one year | 42/48 | €39,621 | €36,755 | -€2,866 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €27,306 | €25,681 | -€1,625 | -6.0% |
| Trade debts | 44 | €7,523 | €4,136 | -€3,386 | -45.0% |
| Suppliers | 440/4 | €7,523 | €4,136 | -€3,386 | -45.0% |
| Taxes, remuneration and social security | 45 | €1,620 | €4,334 | +€2,714 | +167.6% |
| Taxes | 450/3 | €1,468 | €1,064 | -€404 | -27.5% |
| Remuneration and social security | 454/9 | €152 | €3,270 | +€3,118 | +2051.4% |
| Other amounts payable | 47/48 | €3,173 | €2,604 | -€569 | -17.9% |
| Accrued charges and deferred income | 492/3 | €70 | €30 | -€40 | -57.3% |
| Non-recurring operating income | 76A | €19 | €0 | -€19 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,812 | €22,420 | -€2,392 | -9.6% |
| Other operating charges | 640/8 | €676 | €663 | -€13 | -1.9% |
| Gross operating margin | 9900 | €36,291 | €52,234 | +€15,942 | +43.9% |
| Operating profit (loss) | 9901 | €10,803 | €29,150 | +€18,347 | +169.8% |
| Financial income | 75/76B | €1,086 | €9 | -€1,077 | -99.2% |
| Recurring financial income | 75 | €1,086 | €9 | -€1,077 | -99.2% |
| Financial charges | 65/66B | €3,738 | €3,077 | -€662 | -17.7% |
| Recurring financial charges | 65 | €3,738 | €3,077 | -€662 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €8,151 | €26,082 | +€17,932 | +220.0% |
| Income taxes | 67/77 | €1,819 | €5,401 | +€3,582 | +196.9% |
| Profit (loss) for the period | 9904 | €6,331 | €20,681 | +€14,350 | +226.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,331 | €20,681 | +€14,350 | +226.7% |
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 11 October 2026 via checked.be.