GBOD: 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.
GBOD
Largest movements
- Cash +€15,523
up €15,523 (+5,414%), from €287 to €15,809
mainly Net result for the year (+€13,663) and Trade debts (+€2,546)
- Receivables within one year +€4,749
up €4,749 (+2,376%), from €200 to €4,949
of which Trade receivables: +€4,949
- Formation expenses -€242
down €242 (-20.7%), from €1,169 to €927
- Reserves +€13,446
new in 2025: €13,446
- Trade debts +€2,546
new in 2025: €2,546
- Tax, wage and social debts +€2,453
new in 2025: €2,453
of which Taxes: +€2,228
- Other debts +€1,195
up €1,195 (+2,656%), from €45 to €1,240
- Profit (loss) carried forward +€217
up €217, from -€217 to €0
- Gross operating margin +€20,737
up €20,737, from -€171 to €20,567
- Taxes +€5,270
new in 2025: €5,270
- Financial charges +€1,281
up €1,281 (+20,500%), from €6 to €1,287
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 | €1,828 | €21,686 | +€19,858 | +1,086% |
| Formation expenses | 20 | €1,169 | €927 | -€242 | -20.7% |
| Current assets | 29/58 | €659 | €20,759 | +€20,099 | +3,048% |
| Amounts receivable within one year | 40/41 | €200 | €4,949 | +€4,749 | +2,376% |
| Trade receivables | 40 | - | €4,949 | +€4,949 | |
| Other amounts receivable | 41 | €200 | €0 | -€200 | -100% |
| Cash at bank and in hand | 54/58 | €287 | €15,809 | +€15,523 | +5,414% |
| Deferred charges and accrued income | 490/1 | €173 | €0 | -€173 | -100% |
| Total equity and liabilities | 10/49 | €1,828 | €21,686 | +€19,858 | +1,086% |
| Equity | 10/15 | €1,783 | €15,446 | +€13,663 | +766% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €13,446 | +€13,446 | |
| Distributable reserves | 133 | - | €13,446 | +€13,446 | |
| Profit (loss) carried forward | 14 | -€217 | €0 | +€217 | |
| Amounts payable | 17/49 | €45 | €6,240 | +€6,195 | +13,766% |
| Amounts payable within one year | 42/48 | €45 | €6,240 | +€6,195 | +13,766% |
| Trade debts | 44 | - | €2,546 | +€2,546 | |
| Suppliers | 440/4 | - | €2,546 | +€2,546 | |
| Taxes, remuneration and social security | 45 | - | €2,453 | +€2,453 | |
| Taxes | 450/3 | - | €2,228 | +€2,228 | |
| Remuneration and social security | 454/9 | - | €225 | +€225 | |
| Other amounts payable | 47/48 | €45 | €1,240 | +€1,195 | +2,656% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40 | €242 | +€201 | +500% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | -€171 | €20,567 | +€20,737 | |
| Operating profit (loss) | 9901 | -€211 | €20,205 | +€20,416 | |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €6 | €1,287 | +€1,281 | +20,500% |
| Recurring financial charges | 65 | €6 | €1,287 | +€1,281 | +20,500% |
| Profit (loss) for the period before taxes | 9903 | -€217 | €18,933 | +€19,150 | |
| Income taxes | 67/77 | - | €5,270 | +€5,270 | |
| Profit (loss) for the period | 9904 | -€217 | €13,663 | +€13,880 | |
| Profit (loss) for the period to be appropriated | 9905 | -€217 | €13,663 | +€13,880 |
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 13 October 2026 via checked.be.