GBCP: 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.
GBCP
Largest movements
- Tangible fixed assets +€52,031
up €52,031 (+292%), from €17,818 to €69,849
of which Land and buildings: +€56,099
- Receivables within one year -€11,334
down €11,334 (-47.8%), from €23,690 to €12,356
of which Trade receivables: -€10,506
- Cash -€9,964
down €9,964 (-42.5%), from €23,421 to €13,457
mainly Investment in fixed assets (net) (-€73,584) and Trade debts (-€7,213)
- Intangible fixed assets +€6,515
new in 2025: €6,515
- Stocks and contracts +€5,532
up €5,532 (+69.2%), from €8,000 to €13,532
of which Stocks: +€13,532
- Debts after one year +€49,588
new in 2025: €49,588
- Trade debts -€7,213
down €7,213 (-100%), from €7,213 to €0
- Current portion of long-term debt +€4,552
new in 2025: €4,552
- Other debts -€2,825
down €2,825 (-21.1%), from €13,388 to €10,563
- Tax, wage and social debts -€2,566
down €2,566 (-15.7%), from €16,296 to €13,730
of which Taxes: -€4,237
- Depreciation +€10,665
up €10,665 (+244%), from €4,373 to €15,038
- Gross operating margin -€3,171
down €3,171 (-2.1%), from €152,162 to €148,990
- Taxes -€2,762
down €2,762 (-65.6%), from €4,213 to €1,451
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 | €73,134 | €115,913 | +€42,780 | +58.5% |
| Fixed assets | 21/28 | €18,023 | €76,569 | +€58,546 | +325% |
| Intangible fixed assets | 21 | - | €6,515 | +€6,515 | |
| Tangible fixed assets | 22/27 | €17,818 | €69,849 | +€52,031 | +292% |
| Land and buildings | 22 | - | €56,099 | +€56,099 | |
| Plant, machinery and equipment | 23 | €8,885 | €7,234 | -€1,651 | -18.6% |
| Furniture and vehicles | 24 | €8,933 | €6,516 | -€2,417 | -27.1% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €55,111 | €39,345 | -€15,766 | -28.6% |
| Stocks and contracts in progress | 3 | €8,000 | €13,532 | +€5,532 | +69.2% |
| Stocks | 30/36 | - | €13,532 | +€13,532 | |
| Contracts in progress | 37 | €8,000 | - | -€8,000 | |
| Amounts receivable within one year | 40/41 | €23,690 | €12,356 | -€11,334 | -47.8% |
| Trade receivables | 40 | €18,526 | €8,020 | -€10,506 | -56.7% |
| Other amounts receivable | 41 | €5,164 | €4,336 | -€827 | -16.0% |
| Cash at bank and in hand | 54/58 | €23,421 | €13,457 | -€9,964 | -42.5% |
| Total equity and liabilities | 10/49 | €73,134 | €115,913 | +€42,780 | +58.5% |
| Equity | 10/15 | €36,237 | €37,480 | +€1,243 | +3.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €34,237 | €35,480 | +€1,243 | +3.6% |
| Distributable reserves | 133 | €34,237 | €35,480 | +€1,243 | +3.6% |
| Amounts payable | 17/49 | €36,897 | €78,433 | +€41,536 | +113% |
| Amounts payable after more than one year | 17 | - | €49,588 | +€49,588 | |
| Financial debts | 170/4 | - | €49,588 | +€49,588 | |
| Amounts payable within one year | 42/48 | €36,897 | €28,845 | -€8,051 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | - | €4,552 | +€4,552 | |
| Trade debts | 44 | €7,213 | €0 | -€7,213 | -100% |
| Suppliers | 440/4 | €7,213 | €0 | -€7,213 | -100% |
| Taxes, remuneration and social security | 45 | €16,296 | €13,730 | -€2,566 | -15.7% |
| Taxes | 450/3 | €9,946 | €5,709 | -€4,237 | -42.6% |
| Remuneration and social security | 454/9 | €6,350 | €8,021 | +€1,671 | +26.3% |
| Other amounts payable | 47/48 | €13,388 | €10,563 | -€2,825 | -21.1% |
| Remuneration, social security and pensions | 62 | €129,049 | €128,845 | -€203 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,373 | €15,038 | +€10,665 | +244% |
| Other operating charges | 640/8 | €765 | €928 | +€163 | +21.3% |
| Gross operating margin | 9900 | €152,162 | €148,990 | -€3,171 | -2.1% |
| Operating profit (loss) | 9901 | €17,975 | €4,180 | -€13,796 | -76.7% |
| Financial charges | 65/66B | €155 | €1,485 | +€1,331 | +860% |
| Recurring financial charges | 65 | €155 | €1,485 | +€1,331 | +860% |
| Profit (loss) for the period before taxes | 9903 | €17,820 | €2,694 | -€15,126 | -84.9% |
| Income taxes | 67/77 | €4,213 | €1,451 | -€2,762 | -65.6% |
| Profit (loss) for the period | 9904 | €13,608 | €1,243 | -€12,364 | -90.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,608 | €1,243 | -€12,364 | -90.9% |
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 15 October 2026 via checked.be.