GBU: 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.
GBU
Largest movements
- Intangible fixed assets -€11,332
down €11,332 (-7.1%), from €158,644 to €147,312
- Tangible fixed assets +€8,988
up €8,988 (+4.1%), from €216,973 to €225,961
of which Plant, machinery and equipment: +€19,536
- Current portion of long-term debt -€41,871
down €41,871 (-93.5%), from €44,799 to €2,928
- Reserves +€23,689
up €23,689 (+14.3%), from €166,132 to €189,821
- Other debts +€20,000
up €20,000 (+12.7%), from €157,882 to €177,882
- Gross operating margin -€1,807
down €1,807 (-2.2%), from €81,819 to €80,013
- Financial charges -€1,537
down €1,537 (-66.6%), from €2,308 to €770
- Depreciation +€881
up €881 (+2.9%), from €30,168 to €31,048
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 | €381,355 | €378,121 | -€3,233 | -0.8% |
| Fixed assets | 21/28 | €375,616 | €373,273 | -€2,343 | -0.6% |
| Intangible fixed assets | 21 | €158,644 | €147,312 | -€11,332 | -7.1% |
| Tangible fixed assets | 22/27 | €216,973 | €225,961 | +€8,988 | +4.1% |
| Land and buildings | 22 | €215,910 | €205,362 | -€10,548 | -4.9% |
| Plant, machinery and equipment | 23 | €1,063 | €20,599 | +€19,536 | +1838.1% |
| Current assets | 29/58 | €5,738 | €4,848 | -€890 | -15.5% |
| Cash at bank and in hand | 54/58 | €4,445 | €3,531 | -€914 | -20.6% |
| Deferred charges and accrued income | 490/1 | €1,294 | €1,317 | +€24 | +1.8% |
| Total equity and liabilities | 10/49 | €381,355 | €378,121 | -€3,233 | -0.8% |
| Equity | 10/15 | €167,032 | €190,721 | +€23,689 | +14.2% |
| Contributions | 10/11 | €900 | €900 | = | 0.0% |
| Reserves | 13 | €166,132 | €189,821 | +€23,689 | +14.3% |
| Distributable reserves | 133 | €166,132 | €189,821 | +€23,689 | +14.3% |
| Amounts payable | 17/49 | €214,323 | €187,401 | -€26,922 | -12.6% |
| Amounts payable after more than one year | 17 | €3,101 | €173 | -€2,928 | -94.4% |
| Financial debts | 170/4 | €3,101 | €173 | -€2,928 | -94.4% |
| Amounts payable within one year | 42/48 | €211,222 | €187,228 | -€23,994 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €44,799 | €2,928 | -€41,871 | -93.5% |
| Financial debts | 43 | €4,057 | €4,037 | -€20 | -0.5% |
| Credit institutions | 430/8 | €4,057 | €4,037 | -€20 | -0.5% |
| Trade debts | 44 | €609 | €511 | -€98 | -16.1% |
| Suppliers | 440/4 | €609 | €511 | -€98 | -16.1% |
| Taxes, remuneration and social security | 45 | €3,875 | €1,869 | -€2,006 | -51.8% |
| Taxes | 450/3 | €3,875 | €1,869 | -€2,006 | -51.8% |
| Other amounts payable | 47/48 | €157,882 | €177,882 | +€20,000 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,168 | €31,048 | +€881 | +2.9% |
| Other operating charges | 640/8 | €8,163 | €8,418 | +€255 | +3.1% |
| Gross operating margin | 9900 | €81,819 | €80,013 | -€1,807 | -2.2% |
| Operating profit (loss) | 9901 | €43,488 | €40,546 | -€2,942 | -6.8% |
| Financial income | 75/76B | €24 | €15 | -€8 | -35.5% |
| Recurring financial income | 75 | €24 | €15 | -€8 | -35.5% |
| Financial charges | 65/66B | €2,308 | €770 | -€1,537 | -66.6% |
| Recurring financial charges | 65 | €2,308 | €770 | -€1,537 | -66.6% |
| Profit (loss) for the period before taxes | 9903 | €41,205 | €39,791 | -€1,413 | -3.4% |
| Income taxes | 67/77 | €13,111 | €12,770 | -€340 | -2.6% |
| Profit (loss) for the period | 9904 | €28,094 | €27,021 | -€1,073 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,094 | €27,021 | -€1,073 | -3.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.