Gbuur: 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.
Gbuur
Largest movements
- Tangible fixed assets +€440,875
new in 2025: €440,875
of which Assets under construction and advance payments: +€220,675
- Financial fixed assets +€130,000
up €130,000 (+13.4%), from €970,000 to €1.1m
- Cash +€38,931
up €38,931 (+284%), from €13,690 to €52,621
mainly Debts after one year (+€411,658) and Other debts (+€100,984)
- Debts after one year +€411,658
up €411,658 (+65.3%), from €630,000 to €1.0m
- Other debts +€100,984
up €100,984 (+190%), from €53,217 to €154,201
- Reserves +€60,448
up €60,448 (+349%), from €17,305 to €77,752
- Current portion of long-term debt +€38,333
up €38,333 (+47.9%), from €80,000 to €118,333
- Gross operating margin +€59,411
up €59,411 (+145%), from €40,997 to €100,409
- Financial charges +€9,120
up €9,120 (+53.1%), from €17,185 to €26,306
- Taxes +€6,925
up €6,925 (+113%), from €6,128 to €13,053
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 | €998,841 | €1,611,814 | +€612,973 | +61.4% |
| Fixed assets | 21/28 | €970,000 | €1,540,875 | +€570,875 | +58.9% |
| Tangible fixed assets | 22/27 | - | €440,875 | +€440,875 | |
| Land and buildings | 22 | - | €220,200 | +€220,200 | |
| Assets under construction and advance payments | 27 | - | €220,675 | +€220,675 | |
| Financial fixed assets | 28 | €970,000 | €1,100,000 | +€130,000 | +13.4% |
| Current assets | 29/58 | €28,841 | €70,939 | +€42,098 | +146% |
| Amounts receivable within one year | 40/41 | €14,520 | €17,687 | +€3,167 | +21.8% |
| Trade receivables | 40 | €14,520 | €14,565 | +€45 | +0.3% |
| Other amounts receivable | 41 | - | €3,122 | +€3,122 | |
| Cash at bank and in hand | 54/58 | €13,690 | €52,621 | +€38,931 | +284% |
| Deferred charges and accrued income | 490/1 | €631 | €631 | = | 0.0% |
| Total equity and liabilities | 10/49 | €998,841 | €1,611,814 | +€612,973 | +61.4% |
| Equity | 10/15 | €217,305 | €277,752 | +€60,448 | +27.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €17,305 | €77,752 | +€60,448 | +349% |
| Distributable reserves | 133 | €17,305 | €77,752 | +€60,448 | +349% |
| Amounts payable | 17/49 | €781,536 | €1,334,062 | +€552,525 | +70.7% |
| Amounts payable after more than one year | 17 | €630,000 | €1,041,658 | +€411,658 | +65.3% |
| Financial debts | 170/4 | €630,000 | €1,041,658 | +€411,658 | +65.3% |
| Amounts payable within one year | 42/48 | €142,810 | €281,423 | +€138,614 | +97.1% |
| Current portion of amounts payable after more than one year | 42 | €80,000 | €118,333 | +€38,333 | +47.9% |
| Trade debts | 44 | €1,071 | €556 | -€515 | -48.0% |
| Suppliers | 440/4 | €1,071 | €556 | -€515 | -48.0% |
| Taxes, remuneration and social security | 45 | €8,522 | €8,333 | -€189 | -2.2% |
| Taxes | 450/3 | €8,522 | €8,333 | -€189 | -2.2% |
| Other amounts payable | 47/48 | €53,217 | €154,201 | +€100,984 | +190% |
| Accrued charges and deferred income | 492/3 | €8,727 | €10,980 | +€2,253 | +25.8% |
| Other operating charges | 640/8 | €379 | €603 | +€224 | +59.0% |
| Gross operating margin | 9900 | €40,997 | €100,409 | +€59,411 | +145% |
| Operating profit (loss) | 9901 | €40,618 | €99,806 | +€59,188 | +146% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €17,185 | €26,306 | +€9,120 | +53.1% |
| Recurring financial charges | 65 | €17,185 | €26,306 | +€9,120 | +53.1% |
| Profit (loss) for the period before taxes | 9903 | €23,432 | €73,500 | +€50,068 | +214% |
| Income taxes | 67/77 | €6,128 | €13,053 | +€6,925 | +113% |
| Profit (loss) for the period | 9904 | €17,305 | €60,448 | +€43,143 | +249% |
| Profit (loss) for the period to be appropriated | 9905 | €17,305 | €60,448 | +€43,143 | +249% |
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 16 October 2026 via checked.be.