GBS 4: 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.
GBS 4
Largest movements
- Stocks and contracts +€61,532
up €61,532 (+4.6%), from €1.3m to €1.4m
- Debts after one year +€84,645
up €84,645 (+6.4%), from €1.3m to €1.4m
- Gross operating margin +€849
up €849 (+20.2%), from -€4,193 to -€3,344
- Other operating charges -€355
down €355 (-34.1%), from €1,044 to €688
- Financial charges -€208
down €208 (-33.4%), from €624 to €416
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 | €1,332,799 | €1,401,728 | +€68,929 | +5.2% |
| Current assets | 29/58 | €1,332,799 | €1,401,728 | +€68,929 | +5.2% |
| Stocks and contracts in progress | 3 | €1,329,709 | €1,391,241 | +€61,532 | +4.6% |
| Stocks | 30/36 | €1,329,709 | €1,391,241 | +€61,532 | +4.6% |
| Cash at bank and in hand | 54/58 | €3,090 | €10,487 | +€7,397 | +239.3% |
| Total equity and liabilities | 10/49 | €1,332,799 | €1,401,728 | +€68,929 | +5.2% |
| Equity | 10/15 | -€860 | -€5,308 | -€4,448 | -516.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,860 | -€10,308 | -€4,448 | -75.9% |
| Amounts payable | 17/49 | €1,333,659 | €1,407,036 | +€73,377 | +5.5% |
| Amounts payable after more than one year | 17 | €1,314,559 | €1,399,204 | +€84,645 | +6.4% |
| Financial debts | 170/4 | €1,314,559 | €1,399,204 | +€84,645 | +6.4% |
| Amounts payable within one year | 42/48 | €10,120 | €696 | -€9,424 | -93.1% |
| Trade debts | 44 | €10,120 | €696 | -€9,424 | -93.1% |
| Suppliers | 440/4 | €10,120 | €696 | -€9,424 | -93.1% |
| Accrued charges and deferred income | 492/3 | €8,981 | €7,136 | -€1,844 | -20.5% |
| Other operating charges | 640/8 | €1,044 | €688 | -€355 | -34.1% |
| Gross operating margin | 9900 | -€4,193 | -€3,344 | +€849 | +20.2% |
| Operating profit (loss) | 9901 | -€5,236 | -€4,032 | +€1,204 | +23.0% |
| Financial charges | 65/66B | €624 | €416 | -€208 | -33.4% |
| Recurring financial charges | 65 | €624 | €416 | -€208 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,860 | -€4,448 | +€1,413 | +24.1% |
| Profit (loss) for the period | 9904 | -€5,860 | -€4,448 | +€1,413 | +24.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,860 | -€4,448 | +€1,413 | +24.1% |
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 12 October 2026 via checked.be.