GBX: what changed
What changed
GBX
filed annual accounts (NBB)
Net result for the year
€2,008
2024 · -€6,275+€8,283
Equity
-€101,142
2024 · -€102,592+€1,450
Cash
€1,695
2024 · €2,270-€575
Balance sheet total
€238,499
2024 · €253,448-€14,948
Largest movements
Assets
- Tangible fixed assets -€14,374
down €14,374 (-5.7%), from €251,178 to €236,804
Equity and liabilities
- Debts after one year -€30,881
down €30,881 (-13.8%), from €223,979 to €193,098
- Other debts +€9,286
up €9,286 (+9.2%), from €100,695 to €109,981
- Trade debts +€3,023
up €3,023 (+134%), from €2,259 to €5,282
Income statement
- Gross operating margin +€6,731
up €6,731 (+24.8%), from €27,183 to €33,913
- Financial charges -€1,694
down €1,694 (-11.2%), from €15,120 to €13,426
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€6,275
Gross operating margin
+€6,731
Other operating charges
-€142
Financial charges
+€1,694
Result 2025
€2,008
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€29,091
Investment
€0
Financing
-€29,665
Cash 2024
€2,270
From operations (derived)
+€29,091
Net result for the year
+€2,008
Depreciation
+€14,374
Trade debts
+€3,023
Other debts
+€9,286
Accrued charges and deferred income
+€400
Financing
-€29,665
Debts after one year
-€30,881
Current portion of long-term debt
+€1,774
Contributions, distributions and other
-€558
Cash 2025
€1,695
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €253,448 | €238,499 | -€14,948 | -5.9% |
| Fixed assets | 21/28 | €251,178 | €236,804 | -€14,374 | -5.7% |
| Tangible fixed assets | 22/27 | €251,178 | €236,804 | -€14,374 | -5.7% |
| Land and buildings | 22 | €251,178 | €236,804 | -€14,374 | -5.7% |
| Current assets | 29/58 | €2,270 | €1,695 | -€575 | -25.3% |
| Cash at bank and in hand | 54/58 | €2,270 | €1,695 | -€575 | -25.3% |
| Total equity and liabilities | 10/49 | €253,448 | €238,499 | -€14,948 | -5.9% |
| Equity | 10/15 | -€102,592 | -€101,142 | +€1,450 | +1.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€140,426 | -€138,418 | +€2,008 | +1.4% |
| Investment grants | 15 | €7,834 | €7,276 | -€558 | -7.1% |
| Amounts payable | 17/49 | €356,039 | €339,641 | -€16,398 | -4.6% |
| Amounts payable after more than one year | 17 | €223,979 | €193,098 | -€30,881 | -13.8% |
| Financial debts | 170/4 | €223,979 | €193,098 | -€30,881 | -13.8% |
| Amounts payable within one year | 42/48 | €132,061 | €146,144 | +€14,083 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €29,107 | €30,881 | +€1,774 | +6.1% |
| Trade debts | 44 | €2,259 | €5,282 | +€3,023 | +134% |
| Suppliers | 440/4 | €2,259 | €5,282 | +€3,023 | +134% |
| Other amounts payable | 47/48 | €100,695 | €109,981 | +€9,286 | +9.2% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,374 | €14,374 | = | 0.0% |
| Other operating charges | 640/8 | €4,522 | €4,664 | +€142 | +3.1% |
| Gross operating margin | 9900 | €27,183 | €33,913 | +€6,731 | +24.8% |
| Operating profit (loss) | 9901 | €8,287 | €14,875 | +€6,589 | +79.5% |
| Financial income | 75/76B | €558 | €558 | = | 0.0% |
| Recurring financial income | 75 | €558 | €558 | = | 0.0% |
| Financial charges | 65/66B | €15,120 | €13,426 | -€1,694 | -11.2% |
| Recurring financial charges | 65 | €15,120 | €13,426 | -€1,694 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,275 | €2,008 | +€8,283 | |
| Profit (loss) for the period | 9904 | -€6,275 | €2,008 | +€8,283 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,275 | €2,008 | +€8,283 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.