GBA MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash +€29,778
up €29,778 (+28.5%), from €104,571 to €134,348
mainly Net result for the year (+€31,614) and Depreciation (+€12,055)
- Tangible fixed assets -€10,774
down €10,774 (-19.8%), from €54,545 to €43,771
of which Furniture and vehicles: -€9,835
- Receivables within one year +€6,752
up €6,752 (+53.7%), from €12,581 to €19,332
of which Trade receivables: +€8,346
- Reserves +€13,856
up €13,856 (+8.4%), from €164,210 to €178,066
- Trade debts +€8,220
up €8,220 (+498%), from €1,652 to €9,872
- Tax, wage and social debts +€3,661
up €3,661 (+68.8%), from €5,324 to €8,985
- Gross operating margin +€7,357
up €7,357 (+15.6%), from €47,194 to €54,552
- Depreciation +€2,879
up €2,879 (+31.4%), from €9,176 to €12,055
- Taxes +€1,657
up €1,657 (+15.1%), from €10,957 to €12,614
- Financial income +€1,411
up €1,411 (+114%), from €1,243 to €2,655
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 | €172,686 | €198,532 | +€25,847 | +15.0% |
| Fixed assets | 21/28 | €54,545 | €43,771 | -€10,774 | -19.8% |
| Tangible fixed assets | 22/27 | €54,545 | €43,771 | -€10,774 | -19.8% |
| Land and buildings | 22 | €6,338 | €5,634 | -€704 | -11.1% |
| Plant, machinery and equipment | 23 | €2,247 | €2,012 | -€236 | -10.5% |
| Furniture and vehicles | 24 | €45,960 | €36,125 | -€9,835 | -21.4% |
| Current assets | 29/58 | €118,140 | €154,761 | +€36,621 | +31.0% |
| Amounts receivable within one year | 40/41 | €12,581 | €19,332 | +€6,752 | +53.7% |
| Trade receivables | 40 | €10,982 | €19,328 | +€8,346 | +76.0% |
| Other amounts receivable | 41 | €1,599 | €4 | -€1,594 | -99.7% |
| Cash at bank and in hand | 54/58 | €104,571 | €134,348 | +€29,778 | +28.5% |
| Deferred charges and accrued income | 490/1 | €989 | €1,081 | +€92 | +9.3% |
| Total equity and liabilities | 10/49 | €172,686 | €198,532 | +€25,847 | +15.0% |
| Equity | 10/15 | €165,710 | €179,566 | +€13,856 | +8.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €164,210 | €178,066 | +€13,856 | +8.4% |
| Distributable reserves | 133 | €164,210 | €178,066 | +€13,856 | +8.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €6,976 | €18,967 | +€11,991 | +172% |
| Amounts payable within one year | 42/48 | €6,976 | €18,967 | +€11,991 | +172% |
| Trade debts | 44 | €1,652 | €9,872 | +€8,220 | +498% |
| Suppliers | 440/4 | €1,652 | €9,872 | +€8,220 | +498% |
| Taxes, remuneration and social security | 45 | €5,324 | €8,985 | +€3,661 | +68.8% |
| Taxes | 450/3 | €5,324 | €8,985 | +€3,661 | +68.8% |
| Other amounts payable | 47/48 | €0 | €110 | +€110 | |
| Non-recurring operating income | 76A | €413 | €0 | -€413 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,176 | €12,055 | +€2,879 | +31.4% |
| Other operating charges | 640/8 | €776 | €610 | -€166 | -21.4% |
| Gross operating margin | 9900 | €47,194 | €54,552 | +€7,357 | +15.6% |
| Operating profit (loss) | 9901 | €37,242 | €41,887 | +€4,644 | +12.5% |
| Financial income | 75/76B | €1,243 | €2,655 | +€1,411 | +114% |
| Recurring financial income | 75 | €1,243 | €2,655 | +€1,411 | +114% |
| Financial charges | 65/66B | €282 | €314 | +€32 | +11.4% |
| Recurring financial charges | 65 | €282 | €314 | +€32 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €38,204 | €44,228 | +€6,024 | +15.8% |
| Income taxes | 67/77 | €10,957 | €12,614 | +€1,657 | +15.1% |
| Profit (loss) for the period | 9904 | €27,247 | €31,614 | +€4,366 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,247 | €31,614 | +€4,366 | +16.0% |
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 23 October 2026 via checked.be.