GABINVEST: 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.
GABINVEST
Largest movements
- Stocks and contracts -€279,276
down €279,276 (-48.0%), from €581,311 to €302,035
- Cash -€60,051
no longer reported in 2025 (was €60,051)
mainly Net result for the year (-€394,556) and Current portion of long-term debt (-€65,612)
- Intangible fixed assets -€14,011
down €14,011 (-28.6%), from €48,981 to €34,970
- Receivables within one year -€13,911
down €13,911 (-23.2%), from €59,923 to €46,012
of which Trade receivables: -€13,843
- Profit (loss) carried forward -€394,556
down €394,556, from €85,591 to -€308,965
- Tax, wage and social debts +€109,789
up €109,789 (+204%), from €53,692 to €163,481
of which Taxes: +€75,961
- Current portion of long-term debt -€65,612
down €65,612 (-51.6%), from €127,207 to €61,595
- Debts after one year -€56,876
down €56,876 (-32.3%), from €176,282 to €119,406
- Short-term financial debts +€27,807
up €27,807 (+11.2%), from €247,658 to €275,465
of which Other loans: +€37,201
- Turnover -€373,163
down €373,163 (-46.7%), from €799,660 to €426,497
- Purchases and services -€337,091
down €337,091 (-41.8%), from €806,543 to €469,452
- Gross operating margin -€59,518
down €59,518, from €17,597 to -€41,921
- Financial charges +€15,808
up €15,808 (+42.4%), from €37,267 to €53,075
- Staff costs -€14,768
down €14,768 (-9.2%), from €159,759 to €144,991
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 | €770,503 | €405,376 | -€365,127 | -47.4% |
| Fixed assets | 21/28 | €67,069 | €54,950 | -€12,119 | -18.1% |
| Intangible fixed assets | 21 | €48,981 | €34,970 | -€14,011 | -28.6% |
| Tangible fixed assets | 22/27 | €14,199 | €10,092 | -€4,107 | -28.9% |
| Plant, machinery and equipment | 23 | €13,056 | €9,292 | -€3,764 | -28.8% |
| Furniture and vehicles | 24 | €1,143 | €800 | -€343 | -30.0% |
| Financial fixed assets | 28 | €3,889 | €9,889 | +€6,000 | +154% |
| Current assets | 29/58 | €703,434 | €350,426 | -€353,008 | -50.2% |
| Stocks and contracts in progress | 3 | €581,311 | €302,035 | -€279,276 | -48.0% |
| Stocks | 30/36 | €581,311 | €302,035 | -€279,276 | -48.0% |
| Amounts receivable within one year | 40/41 | €59,923 | €46,012 | -€13,911 | -23.2% |
| Trade receivables | 40 | €39,855 | €26,012 | -€13,843 | -34.7% |
| Other amounts receivable | 41 | €20,068 | €20,000 | -€68 | -0.3% |
| Current investments | 50/53 | €350 | €350 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €60,051 | - | -€60,051 | |
| Deferred charges and accrued income | 490/1 | €1,799 | €2,029 | +€230 | +12.8% |
| Total equity and liabilities | 10/49 | €770,503 | €405,376 | -€365,127 | -47.4% |
| Equity | 10/15 | €139,915 | -€254,641 | -€394,556 | |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Capital | 10 | €24,800 | - | -€24,800 | |
| Issued capital | 100 | €24,800 | - | -€24,800 | |
| Reserves | 13 | €29,524 | €29,524 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €27,664 | €27,664 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €85,591 | -€308,965 | -€394,556 | |
| Amounts payable | 17/49 | €630,588 | €660,017 | +€29,429 | +4.7% |
| Amounts payable after more than one year | 17 | €176,282 | €119,406 | -€56,876 | -32.3% |
| Financial debts | 170/4 | €176,282 | €119,406 | -€56,876 | -32.3% |
| Amounts payable within one year | 42/48 | €443,456 | €518,822 | +€75,366 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €127,207 | €61,595 | -€65,612 | -51.6% |
| Financial debts | 43 | €247,658 | €275,465 | +€27,807 | +11.2% |
| Credit institutions | 430/8 | €247,658 | €238,264 | -€9,394 | -3.8% |
| Other loans | 439 | - | €37,201 | +€37,201 | |
| Trade debts | 44 | - | €5,459 | +€5,459 | |
| Suppliers | 440/4 | - | €5,459 | +€5,459 | |
| Taxes, remuneration and social security | 45 | €53,692 | €163,481 | +€109,789 | +204% |
| Taxes | 450/3 | €29,911 | €105,872 | +€75,961 | +254% |
| Remuneration and social security | 454/9 | €23,781 | €57,609 | +€33,828 | +142% |
| Other amounts payable | 47/48 | €14,899 | €12,822 | -€2,077 | -13.9% |
| Accrued charges and deferred income | 492/3 | €10,850 | €21,790 | +€10,940 | +101% |
| Turnover | 70 | €799,660 | €426,497 | -€373,163 | -46.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €806,543 | €469,452 | -€337,091 | -41.8% |
| Remuneration, social security and pensions | 62 | €159,759 | €144,991 | -€14,768 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,606 | €18,119 | +€513 | +2.9% |
| Other operating charges | 640/8 | €905 | €359 | -€546 | -60.4% |
| Non-recurring operating charges | 66A | - | €125,000 | +€125,000 | |
| Gross operating margin | 9900 | €17,597 | -€41,921 | -€59,518 | |
| Operating profit (loss) | 9901 | -€160,673 | -€330,390 | -€169,717 | -106% |
| Financial income | 75/76B | €5,646 | - | -€5,646 | |
| Recurring financial income | 75 | €5,646 | - | -€5,646 | |
| Financial charges | 65/66B | €37,267 | €53,075 | +€15,808 | +42.4% |
| Recurring financial charges | 65 | €37,267 | €53,075 | +€15,808 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | -€192,294 | -€383,465 | -€191,171 | -99.4% |
| Income taxes | 67/77 | - | €11,091 | +€11,091 | |
| Profit (loss) for the period | 9904 | -€192,294 | -€394,556 | -€202,262 | -105% |
| Profit (loss) for the period to be appropriated | 9905 | -€192,294 | -€394,556 | -€202,262 | -105% |
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 24 October 2026 via checked.be.