GABRIEL: 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.
GABRIEL
Largest movements
- Tangible fixed assets +€2.2m
up €2.2m (+213%), from €1.0m to €3.2m
of which Land and buildings: +€2.2m
- Stocks and contracts +€50,857
up €50,857 (+39.6%), from €128,401 to €179,259
- Cash +€47,977
up €47,977 (+1,621%), from €2,960 to €50,937
mainly Debts after one year (+€2.2m) and Trade debts (+€113,249)
- Debts after one year +€2.2m
up €2.2m (+258%), from €844,171 to €3.0m
- Trade debts +€113,249
up €113,249 (+2,117%), from €5,350 to €118,599
- Financial income +€39,743
up €39,743 (+2,763%), from €1,438 to €41,182
- Gross operating margin -€20,481
down €20,481 (-11.9%), from €171,550 to €151,068
- Financial charges +€8,114
up €8,114 (+14.7%), from €55,205 to €63,319
- Depreciation +€3,360
up €3,360 (+4.6%), from €73,585 to €76,945
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 | €1,163,880 | €3,453,928 | +€2.3m | +197% |
| Fixed assets | 21/28 | €1,026,441 | €3,214,568 | +€2.2m | +213% |
| Tangible fixed assets | 22/27 | €1,026,276 | €3,212,094 | +€2.2m | +213% |
| Land and buildings | 22 | €841,270 | €3,001,576 | +€2.2m | +257% |
| Plant, machinery and equipment | 23 | €116,603 | €195,458 | +€78,855 | +67.6% |
| Furniture and vehicles | 24 | €11,526 | €12,885 | +€1,359 | +11.8% |
| Leasing and similar rights | 25 | €56,876 | €2,175 | -€54,701 | -96.2% |
| Financial fixed assets | 28 | €165 | €2,474 | +€2,309 | +1,400% |
| Current assets | 29/58 | €137,439 | €239,360 | +€101,921 | +74.2% |
| Stocks and contracts in progress | 3 | €128,401 | €179,259 | +€50,857 | +39.6% |
| Stocks | 30/36 | €128,401 | €179,259 | +€50,857 | +39.6% |
| Amounts receivable within one year | 40/41 | €6,077 | €9,164 | +€3,087 | +50.8% |
| Trade receivables | 40 | €6,077 | €5,293 | -€784 | -12.9% |
| Other amounts receivable | 41 | - | €3,871 | +€3,871 | |
| Cash at bank and in hand | 54/58 | €2,960 | €50,937 | +€47,977 | +1,621% |
| Total equity and liabilities | 10/49 | €1,163,880 | €3,453,928 | +€2.3m | +197% |
| Equity | 10/15 | €249,184 | €249,045 | -€139 | -0.1% |
| Contributions | 10/11 | €142,542 | €142,542 | = | 0.0% |
| Capital | 10 | €142,542 | €142,542 | = | 0.0% |
| Issued capital | 100 | €142,542 | €142,542 | = | 0.0% |
| Reserves | 13 | €9,113 | €9,113 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,634 | €6,634 | = | 0.0% |
| Legal reserve | 130 | €6,634 | €6,634 | = | 0.0% |
| Distributable reserves | 133 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,898 | €90,198 | +€1,300 | +1.5% |
| Investment grants | 15 | €8,631 | €7,192 | -€1,438 | -16.7% |
| Provisions and deferred taxes | 16 | €4,048 | €3,374 | -€675 | -16.7% |
| Deferred taxes | 168 | €4,048 | €3,374 | -€675 | -16.7% |
| Amounts payable | 17/49 | €910,648 | €3,201,510 | +€2.3m | +252% |
| Amounts payable after more than one year | 17 | €844,171 | €3,018,000 | +€2.2m | +258% |
| Financial debts | 170/4 | €844,171 | €3,018,000 | +€2.2m | +258% |
| Amounts payable within one year | 42/48 | €66,476 | €183,510 | +€117,033 | +176% |
| Current portion of amounts payable after more than one year | 42 | €54,372 | €56,372 | +€2,000 | +3.7% |
| Trade debts | 44 | €5,350 | €118,599 | +€113,249 | +2,117% |
| Suppliers | 440/4 | €5,350 | €118,599 | +€113,249 | +2,117% |
| Taxes, remuneration and social security | 45 | €6,677 | €8,398 | +€1,721 | +25.8% |
| Taxes | 450/3 | €6,677 | €8,398 | +€1,721 | +25.8% |
| Other amounts payable | 47/48 | €77 | €141 | +€64 | +82.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,585 | €76,945 | +€3,360 | +4.6% |
| Other operating charges | 640/8 | €49,960 | €51,362 | +€1,402 | +2.8% |
| Non-recurring operating charges | 66A | €49,790 | - | -€49,790 | |
| Gross operating margin | 9900 | €171,550 | €151,068 | -€20,481 | -11.9% |
| Operating profit (loss) | 9901 | -€1,785 | €22,762 | +€24,547 | |
| Financial income | 75/76B | €1,438 | €41,182 | +€39,743 | +2,763% |
| Recurring financial income | 75 | €1,438 | €41,182 | +€39,743 | +2,763% |
| Financial charges | 65/66B | €55,205 | €63,319 | +€8,114 | +14.7% |
| Recurring financial charges | 65 | €55,205 | €63,319 | +€8,114 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | -€55,552 | €625 | +€56,177 | |
| Transfer from deferred taxes | 780 | €675 | €675 | = | 0.0% |
| Income taxes | 67/77 | -€588 | - | +€588 | |
| Profit (loss) for the period | 9904 | -€54,289 | €1,300 | +€55,589 | |
| Profit (loss) for the period to be appropriated | 9905 | -€54,289 | €1,300 | +€55,589 |
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 14 October 2026 via checked.be.