GBQ: 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.
GBQ
Largest movements
- Tangible fixed assets +€66,219
up €66,219 (+1,522%), from €4,351 to €70,570
of which Furniture and vehicles: +€50,110
- Cash +€30,315
up €30,315 (+591%), from €5,132 to €35,447
mainly Debts after one year (+€52,299) and Net result for the year (+€24,750)
- Receivables within one year +€5,119
up €5,119 (+214%), from €2,389 to €7,508
of which Trade receivables: +€4,840
- Deferred charges and accrued income +€2,009
new in 2025: €2,009
- Intangible fixed assets +€1,250
new in 2025: €1,250
- Debts after one year +€52,299
new in 2025: €52,299
- Reserves +€24,750
up €24,750 (+676%), from €3,662 to €28,412
- Current portion of long-term debt +€11,701
new in 2025: €11,701
- Other debts +€7,972
up €7,972 (+279%), from €2,861 to €10,833
- Tax, wage and social debts +€5,236
up €5,236 (+184%), from €2,848 to €8,084
of which Taxes: +€5,236
- Gross operating margin +€45,063
up €45,063 (+719%), from €6,270 to €51,333
- Depreciation +€15,701
up €15,701 (+1,118%), from €1,404 to €17,105
- Taxes +€4,169
up €4,169 (+398%), from €1,048 to €5,217
- Financial charges +€3,463
new in 2025: €3,463
- Other operating charges +€642
up €642 (+413%), from €156 to €797
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 | €11,872 | €116,783 | +€104,912 | +884% |
| Fixed assets | 21/28 | €4,351 | €71,820 | +€67,469 | +1,551% |
| Intangible fixed assets | 21 | - | €1,250 | +€1,250 | |
| Tangible fixed assets | 22/27 | €4,351 | €70,570 | +€66,219 | +1,522% |
| Plant, machinery and equipment | 23 | €3,818 | €19,927 | +€16,109 | +422% |
| Furniture and vehicles | 24 | €533 | €50,643 | +€50,110 | +9,396% |
| Current assets | 29/58 | €7,521 | €44,964 | +€37,443 | +498% |
| Amounts receivable within one year | 40/41 | €2,389 | €7,508 | +€5,119 | +214% |
| Trade receivables | 40 | €200 | €5,040 | +€4,840 | +2,416% |
| Other amounts receivable | 41 | €2,189 | €2,468 | +€279 | +12.7% |
| Cash at bank and in hand | 54/58 | €5,132 | €35,447 | +€30,315 | +591% |
| Deferred charges and accrued income | 490/1 | - | €2,009 | +€2,009 | |
| Total equity and liabilities | 10/49 | €11,872 | €116,783 | +€104,912 | +884% |
| Equity | 10/15 | €6,162 | €30,912 | +€24,750 | +402% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €3,662 | €28,412 | +€24,750 | +676% |
| Distributable reserves | 133 | €3,662 | €28,412 | +€24,750 | +676% |
| Amounts payable | 17/49 | €5,710 | €85,871 | +€80,162 | +1,404% |
| Amounts payable after more than one year | 17 | - | €52,299 | +€52,299 | |
| Financial debts | 170/4 | - | €52,299 | +€52,299 | |
| Amounts payable within one year | 42/48 | €5,710 | €33,572 | +€27,862 | +488% |
| Current portion of amounts payable after more than one year | 42 | - | €11,701 | +€11,701 | |
| Trade debts | 44 | - | €2,954 | +€2,954 | |
| Suppliers | 440/4 | - | €2,954 | +€2,954 | |
| Taxes, remuneration and social security | 45 | €2,848 | €8,084 | +€5,236 | +184% |
| Taxes | 450/3 | €1,048 | €6,284 | +€5,236 | +499% |
| Remuneration and social security | 454/9 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €2,861 | €10,833 | +€7,972 | +279% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,404 | €17,105 | +€15,701 | +1,118% |
| Other operating charges | 640/8 | €156 | €797 | +€642 | +413% |
| Gross operating margin | 9900 | €6,270 | €51,333 | +€45,063 | +719% |
| Operating profit (loss) | 9901 | €4,711 | €33,430 | +€28,720 | +610% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | - | €3,463 | +€3,463 | |
| Recurring financial charges | 65 | - | €3,463 | +€3,463 | |
| Profit (loss) for the period before taxes | 9903 | €4,711 | €29,967 | +€25,257 | +536% |
| Income taxes | 67/77 | €1,048 | €5,217 | +€4,169 | +398% |
| Profit (loss) for the period | 9904 | €3,662 | €24,750 | +€21,088 | +576% |
| Profit (loss) for the period to be appropriated | 9905 | €3,662 | €24,750 | +€21,088 | +576% |
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.