GEBLO: 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.
GEBLO
Largest movements
- Cash -€41,450
down €41,450 (-52.3%), from €79,183 to €37,733
mainly Trade debts (-€30,501) and Contributions, distributions and other (-€30,000)
- Receivables within one year -€36,932
down €36,932 (-39.7%), from €93,001 to €56,069
of which Trade receivables: -€31,620
- Tangible fixed assets -€21,028
down €21,028 (-6.9%), from €303,702 to €282,674
of which Land and buildings: -€15,240
- Stocks and contracts +€7,655
up €7,655 (+107%), from €7,186 to €14,842
- Trade debts -€30,501
down €30,501 (-51.1%), from €59,733 to €29,232
- Profit (loss) carried forward -€30,000
down €30,000 (-35.9%), from €83,544 to €53,544
- Tax, wage and social debts -€22,937
down €22,937 (-60.7%), from €37,811 to €14,875
of which Taxes: -€25,172
- Debts after one year -€15,189
down €15,189 (-6.0%), from €253,105 to €237,916
- Reserves +€8,135
up €8,135 (+33.3%), from €24,420 to €32,555
- Staff costs +€62,284
new in 2025: €62,284
- Depreciation -€31,378
down €31,378 (-58.7%), from €53,468 to €22,091
- Gross operating margin +€8,815
up €8,815 (+8.9%), from €98,839 to €107,654
- Taxes -€5,868
down €5,868 (-59.5%), from €9,865 to €3,998
- Financial income +€2,102
up €2,102 (+503%), from €418 to €2,520
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 | €492,081 | €402,132 | -€89,949 | -18.3% |
| Fixed assets | 21/28 | €303,702 | €282,674 | -€21,028 | -6.9% |
| Tangible fixed assets | 22/27 | €303,702 | €282,674 | -€21,028 | -6.9% |
| Land and buildings | 22 | €274,094 | €258,854 | -€15,240 | -5.6% |
| Plant, machinery and equipment | 23 | - | €785 | +€785 | |
| Furniture and vehicles | 24 | €29,608 | €23,036 | -€6,573 | -22.2% |
| Current assets | 29/58 | €188,379 | €119,458 | -€68,921 | -36.6% |
| Amounts receivable after more than one year | 29 | €4,045 | €5,548 | +€1,503 | +37.2% |
| Trade receivables | 290 | €4,045 | €5,548 | +€1,503 | +37.2% |
| Stocks and contracts in progress | 3 | €7,186 | €14,842 | +€7,655 | +107% |
| Stocks | 30/36 | €7,186 | €14,842 | +€7,655 | +107% |
| Amounts receivable within one year | 40/41 | €93,001 | €56,069 | -€36,932 | -39.7% |
| Trade receivables | 40 | €82,216 | €50,596 | -€31,620 | -38.5% |
| Other amounts receivable | 41 | €10,786 | €5,473 | -€5,313 | -49.3% |
| Cash at bank and in hand | 54/58 | €79,183 | €37,733 | -€41,450 | -52.3% |
| Deferred charges and accrued income | 490/1 | €4,963 | €5,266 | +€303 | +6.1% |
| Total equity and liabilities | 10/49 | €492,081 | €402,132 | -€89,949 | -18.3% |
| Equity | 10/15 | €126,564 | €104,699 | -€21,865 | -17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,420 | €32,555 | +€8,135 | +33.3% |
| Distributable reserves | 133 | €24,420 | €32,555 | +€8,135 | +33.3% |
| Profit (loss) carried forward | 14 | €83,544 | €53,544 | -€30,000 | -35.9% |
| Amounts payable | 17/49 | €365,517 | €297,433 | -€68,084 | -18.6% |
| Amounts payable after more than one year | 17 | €253,105 | €237,916 | -€15,189 | -6.0% |
| Financial debts | 170/4 | €253,105 | €237,916 | -€15,189 | -6.0% |
| Amounts payable within one year | 42/48 | €112,412 | €59,518 | -€52,894 | -47.1% |
| Current portion of amounts payable after more than one year | 42 | €14,646 | €15,189 | +€543 | +3.7% |
| Trade debts | 44 | €59,733 | €29,232 | -€30,501 | -51.1% |
| Suppliers | 440/4 | €59,733 | €29,232 | -€30,501 | -51.1% |
| Taxes, remuneration and social security | 45 | €37,811 | €14,875 | -€22,937 | -60.7% |
| Taxes | 450/3 | €37,811 | €12,640 | -€25,172 | -66.6% |
| Remuneration and social security | 454/9 | - | €2,235 | +€2,235 | |
| Other amounts payable | 47/48 | €221 | €221 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €62,284 | +€62,284 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,468 | €22,091 | -€31,378 | -58.7% |
| Other operating charges | 640/8 | €2,406 | €3,193 | +€788 | +32.7% |
| Gross operating margin | 9900 | €98,839 | €107,654 | +€8,815 | +8.9% |
| Operating profit (loss) | 9901 | €42,965 | €20,087 | -€22,879 | -53.2% |
| Financial income | 75/76B | €418 | €2,520 | +€2,102 | +503% |
| Recurring financial income | 75 | €418 | €2,520 | +€2,102 | +503% |
| Financial charges | 65/66B | €9,098 | €10,474 | +€1,376 | +15.1% |
| Recurring financial charges | 65 | €9,098 | €10,474 | +€1,376 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €34,285 | €12,133 | -€22,153 | -64.6% |
| Income taxes | 67/77 | €9,865 | €3,998 | -€5,868 | -59.5% |
| Profit (loss) for the period | 9904 | €24,420 | €8,135 | -€16,285 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,420 | €8,135 | -€16,285 | -66.7% |
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 13 October 2026 via checked.be.