GBHT Holding: what changed
Two fiscal 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.
GBHT Holding
Largest movements
- Cash +€734,421
up €734,421 (+1955.9%), from €37,548 to €771,969
mainly Net result for the year (+€388,427) and Investment in fixed assets (net) (+€208,016)
- Tangible fixed assets -€226,805
down €226,805 (-28.9%), from €783,894 to €557,089
of which Land and buildings: -€221,280
- Intangible fixed assets -€23,731
down €23,731 (-25.0%), from €94,926 to €71,195
- Reserves +€398,988
up €398,988 (+351.8%), from €113,424 to €512,413
of which Tax-exempt reserves: +€398,988
- Provisions +€132,996
new in 2025: €132,996
- Debts after one year -€35,000
down €35,000 (-12.1%), from €288,750 to €253,750
- Gross operating margin +€484,987
up €484,987 (+500.6%), from €96,872 to €581,860
- Depreciation -€38,937
down €38,937 (-47.8%), from €81,458 to €42,521
- Other operating charges -€16,236
down €16,236 (-80.2%), from €20,254 to €4,018
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.
Cash bridge derived
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 | €920,276 | €1,403,540 | +€483,264 | +52.5% |
| Fixed assets | 21/28 | €878,820 | €628,283 | -€250,537 | -28.5% |
| Intangible fixed assets | 21 | €94,926 | €71,195 | -€23,731 | -25.0% |
| Tangible fixed assets | 22/27 | €783,894 | €557,089 | -€226,805 | -28.9% |
| Land and buildings | 22 | €777,582 | €556,302 | -€221,280 | -28.5% |
| Plant, machinery and equipment | 23 | €1,203 | €787 | -€417 | -34.6% |
| Furniture and vehicles | 24 | €5,109 | €0 | -€5,109 | -100.0% |
| Current assets | 29/58 | €41,456 | €775,257 | +€733,800 | +1770.1% |
| Cash at bank and in hand | 54/58 | €37,548 | €771,969 | +€734,421 | +1955.9% |
| Deferred charges and accrued income | 490/1 | €3,908 | €3,288 | -€621 | -15.9% |
| Total equity and liabilities | 10/49 | €920,276 | €1,403,540 | +€483,264 | +52.5% |
| Equity | 10/15 | -€48,850 | €339,577 | +€388,427 | |
| Contributions | 10/11 | €639,109 | €639,109 | = | 0.0% |
| Capital | 10 | €639,109 | €639,109 | = | 0.0% |
| Issued capital | 100 | €639,109 | €639,109 | = | 0.0% |
| Reserves | 13 | €113,424 | €512,413 | +€398,988 | +351.8% |
| Non-distributable reserves | 130/1 | €69,500 | €69,500 | = | 0.0% |
| Legal reserve | 130 | €69,500 | €69,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €43,924 | €442,913 | +€398,988 | +908.4% |
| Profit (loss) carried forward | 14 | -€801,384 | -€811,945 | -€10,562 | -1.3% |
| Provisions and deferred taxes | 16 | - | €132,996 | +€132,996 | |
| Deferred taxes | 168 | - | €132,996 | +€132,996 | |
| Amounts payable | 17/49 | €969,126 | €930,967 | -€38,159 | -3.9% |
| Amounts payable after more than one year | 17 | €288,750 | €253,750 | -€35,000 | -12.1% |
| Financial debts | 170/4 | €288,750 | €253,750 | -€35,000 | -12.1% |
| Amounts payable within one year | 42/48 | €671,305 | €677,217 | +€5,912 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €35,000 | €35,000 | = | 0.0% |
| Trade debts | 44 | €1,256 | €9,661 | +€8,405 | +669.4% |
| Suppliers | 440/4 | €1,256 | €9,661 | +€8,405 | +669.4% |
| Taxes, remuneration and social security | 45 | €160 | €172 | +€12 | +7.4% |
| Taxes | 450/3 | €160 | €172 | +€12 | +7.4% |
| Other amounts payable | 47/48 | €634,889 | €632,385 | -€2,505 | -0.4% |
| Accrued charges and deferred income | 492/3 | €9,071 | €0 | -€9,071 | -100.0% |
| Non-recurring operating income | 76A | - | €531,985 | +€531,985 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,458 | €42,521 | -€38,937 | -47.8% |
| Other operating charges | 640/8 | €20,254 | €4,018 | -€16,236 | -80.2% |
| Gross operating margin | 9900 | €96,872 | €581,860 | +€484,987 | +500.6% |
| Operating profit (loss) | 9901 | -€4,840 | €535,321 | +€540,160 | |
| Financial charges | 65/66B | €18,269 | €13,726 | -€4,543 | -24.9% |
| Recurring financial charges | 65 | €18,269 | €13,726 | -€4,543 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | -€23,109 | €521,594 | +€544,703 | |
| Transfer to deferred taxes | 680 | - | €132,996 | +€132,996 | |
| Income taxes | 67/77 | €160 | €172 | +€12 | +7.4% |
| Profit (loss) for the period | 9904 | -€23,268 | €388,427 | +€411,695 | |
| Transfer to tax-exempt reserves | 689 | - | €398,988 | +€398,988 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,268 | -€10,562 | +€12,707 | +54.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.