GB-M: 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-M
Largest movements
- Cash +€34,473
up €34,473 (+129%), from €26,696 to €61,169
mainly Net result for the year (+€22,768) and Tax, wage and social debts (+€6,611)
- Tangible fixed assets -€4,675
down €4,675 (-16.6%), from €28,230 to €23,555
of which Furniture and vehicles: -€5,171
- Deferred charges and accrued income -€4,566
down €4,566 (-91.0%), from €5,018 to €452
- Reserves +€22,768
up €22,768 (+62.3%), from €36,536 to €59,304
- Tax, wage and social debts +€6,611
up €6,611 (+151%), from €4,389 to €10,999
- Other debts -€2,956
down €2,956 (-17.3%), from €17,048 to €14,092
- Trade debts -€883
down €883 (-75.6%), from €1,168 to €285
- Depreciation +€648
up €648 (+11.8%), from €5,510 to €6,158
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 | €60,141 | €85,680 | +€25,540 | +42.5% |
| Fixed assets | 21/28 | €28,230 | €23,555 | -€4,675 | -16.6% |
| Tangible fixed assets | 22/27 | €28,230 | €23,555 | -€4,675 | -16.6% |
| Land and buildings | 22 | €4,450 | €4,450 | = | 0.0% |
| Furniture and vehicles | 24 | €18,035 | €12,865 | -€5,171 | -28.7% |
| Other tangible fixed assets | 26 | €5,744 | €6,240 | +€496 | +8.6% |
| Current assets | 29/58 | €31,911 | €62,125 | +€30,215 | +94.7% |
| Amounts receivable within one year | 40/41 | €196 | €504 | +€308 | +157% |
| Trade receivables | 40 | - | €504 | +€504 | |
| Other amounts receivable | 41 | €196 | - | -€196 | |
| Cash at bank and in hand | 54/58 | €26,696 | €61,169 | +€34,473 | +129% |
| Deferred charges and accrued income | 490/1 | €5,018 | €452 | -€4,566 | -91.0% |
| Total equity and liabilities | 10/49 | €60,141 | €85,680 | +€25,540 | +42.5% |
| Equity | 10/15 | €37,536 | €60,304 | +€22,768 | +60.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €36,536 | €59,304 | +€22,768 | +62.3% |
| Distributable reserves | 133 | €36,536 | €59,304 | +€22,768 | +62.3% |
| Amounts payable | 17/49 | €22,605 | €25,377 | +€2,772 | +12.3% |
| Amounts payable within one year | 42/48 | €22,605 | €25,377 | +€2,772 | +12.3% |
| Trade debts | 44 | €1,168 | €285 | -€883 | -75.6% |
| Suppliers | 440/4 | €1,168 | €285 | -€883 | -75.6% |
| Taxes, remuneration and social security | 45 | €4,389 | €10,999 | +€6,611 | +151% |
| Taxes | 450/3 | €4,389 | €10,999 | +€6,611 | +151% |
| Other amounts payable | 47/48 | €17,048 | €14,092 | -€2,956 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,510 | €6,158 | +€648 | +11.8% |
| Other operating charges | 640/8 | €657 | €739 | +€83 | +12.6% |
| Gross operating margin | 9900 | €36,159 | €36,438 | +€279 | +0.8% |
| Operating profit (loss) | 9901 | €29,993 | €29,541 | -€452 | -1.5% |
| Financial charges | 65/66B | €102 | €43 | -€59 | -58.0% |
| Recurring financial charges | 65 | €102 | €43 | -€59 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €29,891 | €29,498 | -€392 | -1.3% |
| Income taxes | 67/77 | €6,804 | €6,730 | -€73 | -1.1% |
| Profit (loss) for the period | 9904 | €23,087 | €22,768 | -€319 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,087 | €22,768 | -€319 | -1.4% |
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 21 October 2026 via checked.be.