GBC 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.
GBC GROUP
Largest movements
- Intangible fixed assets +€24,850
up €24,850 (+3,946%), from €630 to €25,479
- Receivables within one year -€10,000
no longer reported in 2025 (was €10,000)
- Stocks and contracts +€2,411
up €2,411 (+20.7%), from €11,650 to €14,061
- Tangible fixed assets -€1,301
down €1,301 (-26.4%), from €4,926 to €3,624
of which Plant, machinery and equipment: -€1,062
- Cash +€933
up €933 (+434%), from €215 to €1,148
mainly Trade debts (+€20,182) and Receivables within one year (+€10,000)
- Trade debts +€20,182
up €20,182 (+134%), from €15,021 to €35,203
- Other debts -€4,133
down €4,133 (-23.8%), from €17,387 to €13,254
- Profit (loss) carried forward +€3,629
up €3,629 (+3.6%), from -€99,949 to -€96,320
- Tax, wage and social debts -€2,786
down €2,786 (-4.3%), from €64,961 to €62,176
of which Remuneration and social security: -€26,867
- Staff costs -€46,270
down €46,270 (-42.7%), from €108,420 to €62,149
- Gross operating margin -€40,818
down €40,818 (-32.9%), from €124,056 to €83,238
- Financial charges +€6,767
up €6,767 (+371%), from €1,825 to €8,592
- Depreciation +€3,566
up €3,566 (+86.1%), from €4,141 to €7,707
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 | €27,420 | €44,312 | +€16,892 | +61.6% |
| Fixed assets | 21/28 | €5,555 | €29,104 | +€23,548 | +424% |
| Intangible fixed assets | 21 | €630 | €25,479 | +€24,850 | +3,946% |
| Tangible fixed assets | 22/27 | €4,926 | €3,624 | -€1,301 | -26.4% |
| Plant, machinery and equipment | 23 | €3,303 | €2,241 | -€1,062 | -32.2% |
| Other tangible fixed assets | 26 | €1,622 | €1,383 | -€239 | -14.7% |
| Current assets | 29/58 | €21,865 | €15,209 | -€6,656 | -30.4% |
| Stocks and contracts in progress | 3 | €11,650 | €14,061 | +€2,411 | +20.7% |
| Stocks | 30/36 | €11,650 | €14,061 | +€2,411 | +20.7% |
| Amounts receivable within one year | 40/41 | €10,000 | - | -€10,000 | |
| Trade receivables | 40 | €10,000 | - | -€10,000 | |
| Cash at bank and in hand | 54/58 | €215 | €1,148 | +€933 | +434% |
| Total equity and liabilities | 10/49 | €27,420 | €44,312 | +€16,892 | +61.6% |
| Equity | 10/15 | -€69,949 | -€66,320 | +€3,629 | +5.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,949 | -€96,320 | +€3,629 | +3.6% |
| Amounts payable | 17/49 | €97,369 | €110,633 | +€13,263 | +13.6% |
| Amounts payable within one year | 42/48 | €97,369 | €110,633 | +€13,263 | +13.6% |
| Trade debts | 44 | €15,021 | €35,203 | +€20,182 | +134% |
| Suppliers | 440/4 | €15,021 | €35,203 | +€20,182 | +134% |
| Taxes, remuneration and social security | 45 | €64,961 | €62,176 | -€2,786 | -4.3% |
| Taxes | 450/3 | €32,726 | €56,807 | +€24,081 | +73.6% |
| Remuneration and social security | 454/9 | €32,236 | €5,369 | -€26,867 | -83.3% |
| Other amounts payable | 47/48 | €17,387 | €13,254 | -€4,133 | -23.8% |
| Remuneration, social security and pensions | 62 | €108,420 | €62,149 | -€46,270 | -42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,141 | €7,707 | +€3,566 | +86.1% |
| Other operating charges | 640/8 | €710 | €1,163 | +€453 | +63.9% |
| Gross operating margin | 9900 | €124,056 | €83,238 | -€40,818 | -32.9% |
| Operating profit (loss) | 9901 | €10,785 | €12,219 | +€1,434 | +13.3% |
| Financial income | 75/76B | €0 | €2 | +€2 | +1,336% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +1,336% |
| Financial charges | 65/66B | €1,825 | €8,592 | +€6,767 | +371% |
| Recurring financial charges | 65 | €1,825 | €8,592 | +€6,767 | +371% |
| Profit (loss) for the period before taxes | 9903 | €8,960 | €3,629 | -€5,331 | -59.5% |
| Profit (loss) for the period | 9904 | €8,960 | €3,629 | -€5,331 | -59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,960 | €3,629 | -€5,331 | -59.5% |
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 16 October 2026 via checked.be.