GABRIEL DELEU: 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 DELEU
Largest movements
- Receivables within one year +€43,700
up €43,700 (+27.8%), from €157,424 to €201,124
of which Other amounts receivable: +€43,848
- Cash -€41,452
down €41,452 (-18.7%), from €221,100 to €179,648
mainly Receivables within one year (-€43,700) and Current investments (-€12,469)
- Tangible fixed assets -€26,265
down €26,265 (-12.1%), from €217,577 to €191,312
of which Land and buildings: -€22,965
- Current investments +€12,469
up €12,469 (+11.3%), from €110,778 to €123,247
- Profit (loss) carried forward -€11,084
down €11,084 (-997%), from -€1,112 to -€12,196
- Gross operating margin -€14,582
down €14,582 (-46.3%), from €31,462 to €16,879
- Depreciation -€4,680
down €4,680 (-15.1%), from €30,945 to €26,265
- Financial income -€707
down €707 (-51.0%), from €1,387 to €680
- Taxes -€680
down €680 (-78.6%), from €866 to €185
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 | €709,684 | €697,273 | -€12,411 | -1.7% |
| Fixed assets | 21/28 | €217,577 | €191,312 | -€26,265 | -12.1% |
| Tangible fixed assets | 22/27 | €217,577 | €191,312 | -€26,265 | -12.1% |
| Land and buildings | 22 | €214,277 | €191,312 | -€22,965 | -10.7% |
| Plant, machinery and equipment | 23 | €98 | - | -€98 | |
| Furniture and vehicles | 24 | €3,202 | - | -€3,202 | |
| Current assets | 29/58 | €492,107 | €505,961 | +€13,854 | +2.8% |
| Amounts receivable within one year | 40/41 | €157,424 | €201,124 | +€43,700 | +27.8% |
| Trade receivables | 40 | €1,351 | €1,202 | -€148 | -11.0% |
| Other amounts receivable | 41 | €156,073 | €199,921 | +€43,848 | +28.1% |
| Current investments | 50/53 | €110,778 | €123,247 | +€12,469 | +11.3% |
| Cash at bank and in hand | 54/58 | €221,100 | €179,648 | -€41,452 | -18.7% |
| Deferred charges and accrued income | 490/1 | €2,805 | €1,943 | -€862 | -30.7% |
| Total equity and liabilities | 10/49 | €709,684 | €697,273 | -€12,411 | -1.7% |
| Equity | 10/15 | €708,308 | €697,224 | -€11,084 | -1.6% |
| Contributions | 10/11 | €12,212 | €12,212 | = | 0.0% |
| Reserves | 13 | €697,209 | €697,209 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €695,349 | €695,349 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,112 | -€12,196 | -€11,084 | -997% |
| Amounts payable | 17/49 | €1,376 | €49 | -€1,327 | -96.5% |
| Amounts payable within one year | 42/48 | €1,376 | €49 | -€1,327 | -96.5% |
| Trade debts | 44 | €177 | €49 | -€129 | -72.6% |
| Suppliers | 440/4 | €177 | €49 | -€129 | -72.6% |
| Taxes, remuneration and social security | 45 | €1,198 | - | -€1,198 | |
| Taxes | 450/3 | €1,198 | - | -€1,198 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,945 | €26,265 | -€4,680 | -15.1% |
| Other operating charges | 640/8 | €1,811 | €1,833 | +€23 | +1.3% |
| Gross operating margin | 9900 | €31,462 | €16,879 | -€14,582 | -46.3% |
| Operating profit (loss) | 9901 | -€1,294 | -€11,219 | -€9,925 | -767% |
| Financial income | 75/76B | €1,387 | €680 | -€707 | -51.0% |
| Recurring financial income | 75 | €1,387 | €680 | -€707 | -51.0% |
| Financial charges | 65/66B | €339 | €360 | +€20 | +5.9% |
| Recurring financial charges | 65 | €339 | €360 | +€20 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | -€247 | -€10,899 | -€10,652 | -4,320% |
| Income taxes | 67/77 | €866 | €185 | -€680 | -78.6% |
| Profit (loss) for the period | 9904 | -€1,112 | -€11,084 | -€9,972 | -897% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,112 | -€11,084 | -€9,972 | -897% |
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.