GB BEHEER: 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.
GB BEHEER
Largest movements
- Receivables within one year +€3.4m
up €3.4m (+181%), from €1.9m to €5.3m
of which Other amounts receivable: +€3.4m
- Current investments +€455,999
up €455,999 (+4.7%), from €9.8m to €10.2m
- Cash -€174,716
down €174,716 (-37.5%), from €466,330 to €291,614
mainly Receivables within one year (-€3.4m) and Current investments (-€455,999)
- Current portion of long-term debt +€3.5m
new in 2025: €3.5m
- Reserves +€257,071
up €257,071 (+2.2%), from €11.5m to €11.7m
- Financial income -€2.4m
down €2.4m (-77.5%), from €3.0m to €686,895
of which Non-recurring financial income: -€2.3m
- Services and other goods -€128,846
no longer reported in 2025 (was €128,846)
- Gross operating margin -€86,787
new in 2025: -€86,787
- Turnover -€43,069
no longer reported in 2025 (was €43,069)
- Financial charges +€15,484
up €15,484 (+23.1%), from €66,973 to €82,457
of which Financial charges: +€75,034
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 | €12,243,193 | €16,023,677 | +€3.8m | +30.9% |
| Fixed assets | 21/28 | €92,550 | €80,550 | -€12,000 | -13.0% |
| Financial fixed assets | 28 | €92,550 | €80,550 | -€12,000 | -13.0% |
| Affiliated companies | 280/1 | €92,550 | - | -€92,550 | |
| Participating interests | 280 | €75,000 | - | -€75,000 | |
| Amounts receivable | 281 | €17,550 | - | -€17,550 | |
| Current assets | 29/58 | €12,150,643 | €15,943,127 | +€3.8m | +31.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,880,102 | €5,292,150 | +€3.4m | +181% |
| Trade receivables | 40 | €8,325 | €8,525 | +€200 | +2.4% |
| Other amounts receivable | 41 | €1,871,777 | €5,283,625 | +€3.4m | +182% |
| Current investments | 50/53 | €9,761,425 | €10,217,424 | +€455,999 | +4.7% |
| Other investments | 51/53 | €9,761,425 | - | -€9.8m | |
| Cash at bank and in hand | 54/58 | €466,330 | €291,614 | -€174,716 | -37.5% |
| Deferred charges and accrued income | 490/1 | €42,786 | €141,939 | +€99,152 | +232% |
| Total equity and liabilities | 10/49 | €12,243,193 | €16,023,677 | +€3.8m | +30.9% |
| Equity | 10/15 | €12,233,606 | €12,490,678 | +€257,071 | +2.1% |
| Contributions | 10/11 | €753,000 | €753,000 | = | 0.0% |
| Reserves | 13 | €11,480,606 | €11,737,678 | +€257,071 | +2.2% |
| Distributable reserves | 133 | €11,480,606 | €11,737,678 | +€257,071 | +2.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €9,587 | €3,532,999 | +€3.5m | +36,754% |
| Amounts payable within one year | 42/48 | €8,087 | €3,503,417 | +€3.5m | +43,224% |
| Current portion of amounts payable after more than one year | 42 | - | €3,450,000 | +€3.5m | |
| Financial debts | 43 | - | €2,480 | +€2,480 | |
| Credit institutions | 430/8 | - | €2,480 | +€2,480 | |
| Trade debts | 44 | €6,931 | €4,917 | -€2,015 | -29.1% |
| Suppliers | 440/4 | €6,931 | €4,917 | -€2,015 | -29.1% |
| Taxes, remuneration and social security | 45 | €1,085 | €46,021 | +€44,936 | +4,142% |
| Taxes | 450/3 | €1,085 | €46,021 | +€44,936 | +4,142% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €71 | €0 | -€71 | -100% |
| Accrued charges and deferred income | 492/3 | €1,500 | €29,582 | +€28,082 | +1,872% |
| Operating income | 70/76A | €50,869 | - | -€50,869 | |
| Turnover | 70 | €43,069 | - | -€43,069 | |
| Other operating income | 74 | €7,800 | - | -€7,800 | |
| Operating charges | 60/66A | €158,156 | - | -€158,156 | |
| Services and other goods | 61 | €128,846 | - | -€128,846 | |
| Other operating charges | 640/8 | €29,310 | €14,434 | -€14,876 | -50.8% |
| Gross operating margin | 9900 | - | -€86,787 | -€86,787 | |
| Operating profit (loss) | 9901 | -€107,287 | -€101,221 | +€6,066 | +5.7% |
| Financial income | 75/76B | €3,046,621 | €686,895 | -€2.4m | -77.5% |
| Recurring financial income | 75 | €223,661 | €186,895 | -€36,765 | -16.4% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €169,399 | - | -€169,399 | |
| Other financial income | 752/9 | €54,262 | - | -€54,262 | |
| Non-recurring financial income | 76B | €2,822,961 | €500,000 | -€2.3m | -82.3% |
| Financial charges | 65/66B | €66,973 | €82,457 | +€15,484 | +23.1% |
| Recurring financial charges | 65 | €7,423 | €82,457 | +€75,034 | +1,011% |
| Debt charges | 650 | €47 | - | -€47 | |
| Other financial charges | 652/9 | €7,376 | - | -€7,376 | |
| Non-recurring financial charges | 66B | €59,550 | €0 | -€59,550 | -100% |
| Profit (loss) for the period before taxes | 9903 | €2,872,361 | €503,217 | -€2.4m | -82.5% |
| Income taxes | 67/77 | €30,304 | €45,747 | +€15,443 | +51.0% |
| Taxes | 670/3 | €30,304 | - | -€30,304 | |
| Profit (loss) for the period | 9904 | €2,842,057 | €457,470 | -€2.4m | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,842,057 | €457,470 | -€2.4m | -83.9% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.