GBA Group: 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.
GBA Group
Largest movements
- Receivables within one year +€24,516
up €24,516 (+46.7%), from €52,480 to €76,996
of which Other amounts receivable: +€45,153
- Tangible fixed assets +€11,355
new in 2025: €11,355
- Cash -€1,005
down €1,005 (-99.9%), from €1,006 to €1
mainly Receivables within one year (-€24,516) and Investment in fixed assets (net) (-€13,019)
- Trade debts +€16,793
up €16,793 (+376%), from €4,467 to €21,260
of which Suppliers: +€14,543
- Reserves +€10,000
up €10,000 (+28.6%), from €35,000 to €45,000
- Tax, wage and social debts +€7,066
up €7,066 (+52.6%), from €13,438 to €20,504
- Gross operating margin -€32,323
down €32,323 (-66.7%), from €48,433 to €16,110
- Taxes -€9,294
down €9,294 (-69.2%), from €13,438 to €4,144
- Financial charges +€2,579
up €2,579 (+6,203%), from €42 to €2,620
- Financial income +€2,391
up €2,391 (+248%), from €963 to €3,354
- Depreciation +€1,664
new in 2025: €1,664
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 | €53,821 | €88,530 | +€34,709 | +64.5% |
| Fixed assets | 21/28 | €90 | €11,445 | +€11,355 | +12,617% |
| Tangible fixed assets | 22/27 | - | €11,355 | +€11,355 | |
| Furniture and vehicles | 24 | - | €11,355 | +€11,355 | |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €53,731 | €77,085 | +€23,354 | +43.5% |
| Amounts receivable within one year | 40/41 | €52,480 | €76,996 | +€24,516 | +46.7% |
| Trade receivables | 40 | €21,156 | €519 | -€20,637 | -97.5% |
| Other amounts receivable | 41 | €31,324 | €76,477 | +€45,153 | +144% |
| Cash at bank and in hand | 54/58 | €1,006 | €1 | -€1,005 | -99.9% |
| Deferred charges and accrued income | 490/1 | €245 | €88 | -€157 | -64.0% |
| Total equity and liabilities | 10/49 | €53,821 | €88,530 | +€34,709 | +64.5% |
| Equity | 10/15 | €35,916 | €46,766 | +€10,850 | +30.2% |
| Reserves | 13 | €35,000 | €45,000 | +€10,000 | +28.6% |
| Distributable reserves | 133 | €35,000 | €45,000 | +€10,000 | +28.6% |
| Profit (loss) carried forward | 14 | €916 | €1,766 | +€850 | +92.8% |
| Amounts payable | 17/49 | €17,905 | €41,764 | +€23,859 | +133% |
| Amounts payable within one year | 42/48 | €17,905 | €41,764 | +€23,859 | +133% |
| Trade debts | 44 | €4,467 | €21,260 | +€16,793 | +376% |
| Suppliers | 440/4 | €4,467 | €19,010 | +€14,543 | +326% |
| Bills of exchange payable | 441 | - | €2,250 | +€2,250 | |
| Taxes, remuneration and social security | 45 | €13,438 | €20,504 | +€7,066 | +52.6% |
| Taxes | 450/3 | €13,438 | €20,504 | +€7,066 | +52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,664 | +€1,664 | |
| Other operating charges | 640/8 | - | €186 | +€186 | |
| Gross operating margin | 9900 | €48,433 | €16,110 | -€32,323 | -66.7% |
| Operating profit (loss) | 9901 | €48,433 | €14,260 | -€34,172 | -70.6% |
| Financial income | 75/76B | €963 | €3,354 | +€2,391 | +248% |
| Recurring financial income | 75 | €963 | €3,354 | +€2,391 | +248% |
| Financial charges | 65/66B | €42 | €2,620 | +€2,579 | +6,203% |
| Recurring financial charges | 65 | €42 | €2,620 | +€2,579 | +6,203% |
| Profit (loss) for the period before taxes | 9903 | €49,354 | €14,994 | -€34,360 | -69.6% |
| Income taxes | 67/77 | €13,438 | €4,144 | -€9,294 | -69.2% |
| Profit (loss) for the period | 9904 | €35,916 | €10,850 | -€25,066 | -69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,916 | €10,850 | -€25,066 | -69.8% |
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 25 October 2026 via checked.be.