GEBART BELGIUM: 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.
GEBART BELGIUM
Largest movements
- Stocks and contracts -€103,041
down €103,041 (-40.8%), from €252,588 to €149,547
- Receivables within one year +€62,534
up €62,534 (+22.5%), from €277,563 to €340,097
of which Trade receivables: +€69,450
- Cash +€25,168
up €25,168 (+177%), from €14,226 to €39,394
mainly Stocks and contracts (+€103,041) and Deferred charges and accrued income (+€21,333)
- Deferred charges and accrued income -€21,333
down €21,333 (-62.7%), from €34,000 to €12,667
- Trade debts -€47,107
down €47,107 (-26.7%), from €176,308 to €129,202
- Gross operating margin +€26,205
up €26,205 (+10.7%), from €244,695 to €270,899
- Staff costs +€23,949
up €23,949 (+10.1%), from €236,218 to €260,167
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 | €591,685 | €551,396 | -€40,289 | -6.8% |
| Fixed assets | 21/28 | €13,308 | €9,690 | -€3,618 | -27.2% |
| Tangible fixed assets | 22/27 | €13,283 | €9,665 | -€3,618 | -27.2% |
| Plant, machinery and equipment | 23 | €12,489 | €9,665 | -€2,823 | -22.6% |
| Furniture and vehicles | 24 | €795 | €0 | -€795 | -100% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €578,377 | €541,705 | -€36,671 | -6.3% |
| Stocks and contracts in progress | 3 | €252,588 | €149,547 | -€103,041 | -40.8% |
| Stocks | 30/36 | €252,588 | €149,547 | -€103,041 | -40.8% |
| Amounts receivable within one year | 40/41 | €277,563 | €340,097 | +€62,534 | +22.5% |
| Trade receivables | 40 | €254,593 | €324,043 | +€69,450 | +27.3% |
| Other amounts receivable | 41 | €22,970 | €16,054 | -€6,916 | -30.1% |
| Cash at bank and in hand | 54/58 | €14,226 | €39,394 | +€25,168 | +177% |
| Deferred charges and accrued income | 490/1 | €34,000 | €12,667 | -€21,333 | -62.7% |
| Total equity and liabilities | 10/49 | €591,685 | €551,396 | -€40,289 | -6.8% |
| Equity | 10/15 | €335,323 | €337,733 | +€2,409 | +0.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €273,323 | €275,733 | +€2,409 | +0.9% |
| Non-distributable reserves | 130/1 | €8,576 | €8,576 | = | 0.0% |
| Legal reserve | 130 | €8,576 | €8,576 | = | 0.0% |
| Distributable reserves | 133 | €264,747 | €267,157 | +€2,409 | +0.9% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €251,361 | €208,663 | -€42,699 | -17.0% |
| Amounts payable within one year | 42/48 | €248,625 | €200,265 | -€48,360 | -19.5% |
| Trade debts | 44 | €176,308 | €129,202 | -€47,107 | -26.7% |
| Suppliers | 440/4 | €176,308 | €129,202 | -€47,107 | -26.7% |
| Taxes, remuneration and social security | 45 | €49,497 | €47,559 | -€1,938 | -3.9% |
| Taxes | 450/3 | €25,062 | €14,858 | -€10,204 | -40.7% |
| Remuneration and social security | 454/9 | €24,435 | €32,701 | +€8,266 | +33.8% |
| Other amounts payable | 47/48 | €22,819 | €23,504 | +€685 | +3.0% |
| Accrued charges and deferred income | 492/3 | €2,737 | €8,398 | +€5,661 | +207% |
| Remuneration, social security and pensions | 62 | €236,218 | €260,167 | +€23,949 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,483 | €3,618 | +€135 | +3.9% |
| Other operating charges | 640/8 | €2,295 | €2,049 | -€246 | -10.7% |
| Gross operating margin | 9900 | €244,695 | €270,899 | +€26,205 | +10.7% |
| Operating profit (loss) | 9901 | €2,699 | €5,065 | +€2,366 | +87.7% |
| Financial income | 75/76B | €695 | €513 | -€182 | -26.2% |
| Recurring financial income | 75 | €695 | €513 | -€182 | -26.2% |
| Financial charges | 65/66B | €407 | €2,065 | +€1,658 | +407% |
| Recurring financial charges | 65 | €407 | €2,065 | +€1,658 | +407% |
| Profit (loss) for the period before taxes | 9903 | €2,987 | €3,514 | +€527 | +17.6% |
| Income taxes | 67/77 | €917 | €1,104 | +€188 | +20.5% |
| Profit (loss) for the period | 9904 | €2,071 | €2,409 | +€339 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,071 | €2,409 | +€339 | +16.4% |
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 31 October 2026 via checked.be.