GBI: 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.
GBI
Largest movements
- Cash +€470,123
up €470,123 (+496%), from €94,804 to €564,927
mainly Current portion of long-term debt (+€285,714) and Receivables within one year (+€257,806)
- Receivables within one year -€257,806
down €257,806 (-89.5%), from €288,073 to €30,267
of which Other amounts receivable: -€257,806
- Current investments +€110,000
up €110,000 (+62.9%), from €175,000 to €285,000
- Receivables after one year -€75,205
down €75,205 (-42.9%), from €175,205 to €100,000
- Debts after one year -€309,524
down €309,524 (-9.5%), from €3.3m to €2.9m
- Current portion of long-term debt +€285,714
new in 2025: €285,714
- Reserves +€213,331
up €213,331 (+23.9%), from €894,048 to €1.1m
of which Distributable reserves: +€213,331
- Depreciation +€22,896
up €22,896 (+221%), from €10,355 to €33,251
- Gross operating margin +€20,766
up €20,766 (+7.4%), from €281,721 to €302,488
- Financial income -€11,267
down €11,267 (-31.1%), from €36,182 to €24,915
- Financial charges +€6,783
up €6,783 (+596%), from €1,138 to €7,920
- Taxes -€4,740
down €4,740 (-6.2%), from €76,473 to €71,733
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 | €4,161,822 | €4,370,794 | +€208,972 | +5.0% |
| Fixed assets | 21/28 | €3,414,007 | €3,380,755 | -€33,251 | -1.0% |
| Tangible fixed assets | 22/27 | €155,902 | €122,650 | -€33,251 | -21.3% |
| Furniture and vehicles | 24 | €155,902 | €122,650 | -€33,251 | -21.3% |
| Financial fixed assets | 28 | €3,258,105 | €3,258,105 | = | 0.0% |
| Current assets | 29/58 | €747,816 | €990,039 | +€242,223 | +32.4% |
| Amounts receivable after more than one year | 29 | €175,205 | €100,000 | -€75,205 | -42.9% |
| Other amounts receivable | 291 | €175,205 | €100,000 | -€75,205 | -42.9% |
| Amounts receivable within one year | 40/41 | €288,073 | €30,267 | -€257,806 | -89.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €288,073 | €30,267 | -€257,806 | -89.5% |
| Current investments | 50/53 | €175,000 | €285,000 | +€110,000 | +62.9% |
| Cash at bank and in hand | 54/58 | €94,804 | €564,927 | +€470,123 | +496% |
| Deferred charges and accrued income | 490/1 | €14,733 | €9,844 | -€4,889 | -33.2% |
| Total equity and liabilities | 10/49 | €4,161,822 | €4,370,794 | +€208,972 | +5.0% |
| Equity | 10/15 | €896,548 | €1,109,878 | +€213,331 | +23.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €894,048 | €1,107,378 | +€213,331 | +23.9% |
| Tax-exempt reserves | 132 | €210,500 | €210,500 | = | 0.0% |
| Distributable reserves | 133 | €683,548 | €896,878 | +€213,331 | +31.2% |
| Amounts payable | 17/49 | €3,265,275 | €3,260,916 | -€4,359 | -0.1% |
| Amounts payable after more than one year | 17 | €3,258,105 | €2,948,581 | -€309,524 | -9.5% |
| Financial debts | 170/4 | €3,258,105 | €2,948,581 | -€309,524 | -9.5% |
| Amounts payable within one year | 42/48 | €4,623 | €311,682 | +€307,059 | +6,642% |
| Current portion of amounts payable after more than one year | 42 | - | €285,714 | +€285,714 | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €423 | €242 | -€181 | -42.8% |
| Suppliers | 440/4 | €423 | €242 | -€181 | -42.8% |
| Taxes, remuneration and social security | 45 | €4,200 | €22,726 | +€18,526 | +441% |
| Taxes | 450/3 | €4,200 | €22,726 | +€18,526 | +441% |
| Other amounts payable | 47/48 | €0 | €3,000 | +€3,000 | |
| Accrued charges and deferred income | 492/3 | €2,547 | €652 | -€1,894 | -74.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,355 | €33,251 | +€22,896 | +221% |
| Other operating charges | 640/8 | €1,041 | €1,167 | +€126 | +12.1% |
| Gross operating margin | 9900 | €281,721 | €302,488 | +€20,766 | +7.4% |
| Operating profit (loss) | 9901 | €270,325 | €268,069 | -€2,256 | -0.8% |
| Financial income | 75/76B | €36,182 | €24,915 | -€11,267 | -31.1% |
| Recurring financial income | 75 | €36,182 | €24,915 | -€11,267 | -31.1% |
| Financial charges | 65/66B | €1,138 | €7,920 | +€6,783 | +596% |
| Recurring financial charges | 65 | €1,138 | €7,920 | +€6,783 | +596% |
| Profit (loss) for the period before taxes | 9903 | €305,370 | €285,064 | -€20,306 | -6.6% |
| Income taxes | 67/77 | €76,473 | €71,733 | -€4,740 | -6.2% |
| Profit (loss) for the period | 9904 | €228,897 | €213,331 | -€15,566 | -6.8% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €228,897 | €213,331 | -€15,566 | -6.8% |
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.