GEHLEN R.: 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.
GEHLEN R.
Largest movements
- Current investments -€38,173
down €38,173 (-23.4%), from €163,199 to €125,026
- Tangible fixed assets -€5,068
down €5,068 (-65.5%), from €7,735 to €2,668
of which Furniture and vehicles: -€4,322
- Receivables within one year +€4,051
up €4,051 (+99.7%), from €4,064 to €8,115
of which Trade receivables: +€2,833
- Other debts -€22,209
down €22,209 (-90.3%), from €24,601 to €2,392
- Tax, wage and social debts -€11,269
down €11,269 (-98.5%), from €11,446 to €177
- Profit (loss) carried forward -€5,566
down €5,566, from €426 to -€5,139
- Reserves -€2,880
down €2,880 (-2.1%), from €135,578 to €132,698
of which Distributable reserves: -€2,400
- Gross operating margin -€10,849
down €10,849, from €9,560 to -€1,290
- Taxes -€343
down €343 (-65.7%), from €523 to €179
- Financial income -€342
down €342 (-29.5%), from €1,158 to €816
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 | €185,124 | €143,795 | -€41,329 | -22.3% |
| Fixed assets | 21/28 | €7,735 | €2,668 | -€5,068 | -65.5% |
| Tangible fixed assets | 22/27 | €7,735 | €2,668 | -€5,068 | -65.5% |
| Plant, machinery and equipment | 23 | €555 | €319 | -€236 | -42.5% |
| Furniture and vehicles | 24 | €4,630 | €308 | -€4,322 | -93.4% |
| Other tangible fixed assets | 26 | €2,550 | €2,041 | -€509 | -20.0% |
| Current assets | 29/58 | €177,389 | €141,127 | -€36,261 | -20.4% |
| Stocks and contracts in progress | 3 | €6,020 | €5,452 | -€567 | -9.4% |
| Stocks | 30/36 | €6,020 | €5,452 | -€567 | -9.4% |
| Amounts receivable within one year | 40/41 | €4,064 | €8,115 | +€4,051 | +99.7% |
| Trade receivables | 40 | €1,299 | €4,132 | +€2,833 | +218% |
| Other amounts receivable | 41 | €2,765 | €3,983 | +€1,218 | +44.0% |
| Current investments | 50/53 | €163,199 | €125,026 | -€38,173 | -23.4% |
| Cash at bank and in hand | 54/58 | €2,425 | €979 | -€1,446 | -59.6% |
| Deferred charges and accrued income | 490/1 | €1,681 | €1,555 | -€125 | -7.5% |
| Total equity and liabilities | 10/49 | €185,124 | €143,795 | -€41,329 | -22.3% |
| Equity | 10/15 | €148,404 | €139,958 | -€8,446 | -5.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €135,578 | €132,698 | -€2,880 | -2.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €514 | €34 | -€480 | -93.4% |
| Distributable reserves | 133 | €133,204 | €130,804 | -€2,400 | -1.8% |
| Profit (loss) carried forward | 14 | €426 | -€5,139 | -€5,566 | |
| Provisions and deferred taxes | 16 | €129 | €9 | -€120 | -93.4% |
| Deferred taxes | 168 | €129 | €9 | -€120 | -93.4% |
| Amounts payable | 17/49 | €36,592 | €3,828 | -€32,763 | -89.5% |
| Amounts payable within one year | 42/48 | €36,543 | €3,828 | -€32,714 | -89.5% |
| Trade debts | 44 | €496 | €1,259 | +€763 | +154% |
| Suppliers | 440/4 | €496 | €1,259 | +€763 | +154% |
| Taxes, remuneration and social security | 45 | €11,446 | €177 | -€11,269 | -98.5% |
| Taxes | 450/3 | €11,446 | €177 | -€11,269 | -98.5% |
| Other amounts payable | 47/48 | €24,601 | €2,392 | -€22,209 | -90.3% |
| Accrued charges and deferred income | 492/3 | €49 | - | -€49 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,130 | €5,068 | -€62 | -1.2% |
| Other operating charges | 640/8 | €243 | €221 | -€22 | -8.9% |
| Gross operating margin | 9900 | €9,560 | -€1,290 | -€10,849 | |
| Operating profit (loss) | 9901 | €4,187 | -€6,579 | -€10,766 | |
| Financial income | 75/76B | €1,158 | €816 | -€342 | -29.5% |
| Recurring financial income | 75 | €1,158 | €816 | -€342 | -29.5% |
| Financial charges | 65/66B | €195 | €224 | +€29 | +14.9% |
| Recurring financial charges | 65 | €195 | €224 | +€29 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €5,150 | -€5,986 | -€11,136 | |
| Transfer from deferred taxes | 780 | €120 | €120 | = | 0.0% |
| Income taxes | 67/77 | €523 | €179 | -€343 | -65.7% |
| Profit (loss) for the period | 9904 | €4,747 | -€6,046 | -€10,793 | |
| Transfer from tax-exempt reserves | 789 | €480 | €480 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,227 | -€5,566 | -€10,793 |
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 28 October 2026 via checked.be.