GELADE-HOUBEN: 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.
GELADE-HOUBEN
Largest movements
- Tangible fixed assets -€37,169
down €37,169 (-4.7%), from €796,380 to €759,212
of which Land and buildings: -€21,604
- Trade debts -€55,549
down €55,549 (-99.0%), from €56,131 to €583
- Reserves +€11,849
up €11,849 (+1.7%), from €690,901 to €702,750
of which Distributable reserves: +€28,000
- Debts after one year -€11,696
down €11,696 (-38.7%), from €30,205 to €18,509
of which Financial debts: -€11,696
- Tax, wage and social debts +€10,791
up €10,791 (+576%), from €1,873 to €12,665
of which Taxes: +€12,641
- Gross operating margin +€23,652
up €23,652 (+67.3%), from €35,155 to €58,807
- Taxes +€2,802
up €2,802 (+28.7%), from €9,750 to €12,552
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 | €898,723 | €855,138 | -€43,586 | -4.8% |
| Fixed assets | 21/28 | €796,451 | €759,283 | -€37,169 | -4.7% |
| Tangible fixed assets | 22/27 | €796,380 | €759,212 | -€37,169 | -4.7% |
| Land and buildings | 22 | €738,324 | €716,720 | -€21,604 | -2.9% |
| Plant, machinery and equipment | 23 | €396 | €264 | -€132 | -33.3% |
| Furniture and vehicles | 24 | €57,660 | €42,228 | -€15,433 | -26.8% |
| Financial fixed assets | 28 | €71 | €71 | = | 0.0% |
| Current assets | 29/58 | €102,272 | €95,855 | -€6,417 | -6.3% |
| Amounts receivable within one year | 40/41 | €8,645 | €7,680 | -€965 | -11.2% |
| Trade receivables | 40 | €7,219 | €6,254 | -€965 | -13.4% |
| Other amounts receivable | 41 | €1,426 | €1,426 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €93,340 | €87,747 | -€5,593 | -6.0% |
| Deferred charges and accrued income | 490/1 | €288 | €428 | +€140 | +48.8% |
| Total equity and liabilities | 10/49 | €898,723 | €855,138 | -€43,586 | -4.8% |
| Equity | 10/15 | €630,335 | €642,247 | +€11,912 | +1.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €690,901 | €702,750 | +€11,849 | +1.7% |
| Tax-exempt reserves | 132 | €433,904 | €417,753 | -€16,151 | -3.7% |
| Distributable reserves | 133 | €256,998 | €284,998 | +€28,000 | +10.9% |
| Profit (loss) carried forward | 14 | -€66,766 | -€66,703 | +€63 | +0.1% |
| Provisions and deferred taxes | 16 | €144,015 | €138,631 | -€5,384 | -3.7% |
| Deferred taxes | 168 | €144,015 | €138,631 | -€5,384 | -3.7% |
| Amounts payable | 17/49 | €124,373 | €74,259 | -€50,114 | -40.3% |
| Amounts payable after more than one year | 17 | €30,205 | €18,509 | -€11,696 | -38.7% |
| Financial debts | 170/4 | €24,955 | €13,259 | -€11,696 | -46.9% |
| Other amounts payable | 178/9 | €5,250 | €5,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €94,169 | €55,751 | -€38,418 | -40.8% |
| Current portion of amounts payable after more than one year | 42 | - | €5,969 | +€5,969 | |
| Trade debts | 44 | €56,131 | €583 | -€55,549 | -99.0% |
| Suppliers | 440/4 | €56,131 | €583 | -€55,549 | -99.0% |
| Taxes, remuneration and social security | 45 | €1,873 | €12,665 | +€10,791 | +576% |
| Taxes | 450/3 | €23 | €12,665 | +€12,641 | +53,907% |
| Remuneration and social security | 454/9 | €1,850 | - | -€1,850 | |
| Other amounts payable | 47/48 | €36,164 | €36,534 | +€371 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,204 | €37,169 | -€36 | -0.1% |
| Other operating charges | 640/8 | €2,673 | €2,148 | -€525 | -19.6% |
| Gross operating margin | 9900 | €35,155 | €58,807 | +€23,652 | +67.3% |
| Operating profit (loss) | 9901 | -€4,722 | €19,490 | +€24,212 | |
| Financial income | 75/76B | €1,200 | €690 | -€511 | -42.5% |
| Recurring financial income | 75 | €1,200 | €690 | -€511 | -42.5% |
| Financial charges | 65/66B | €1,187 | €1,100 | -€88 | -7.4% |
| Recurring financial charges | 65 | €1,187 | €1,100 | -€88 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,709 | €19,080 | +€23,789 | |
| Transfer from deferred taxes | 780 | €5,516 | €5,384 | -€132 | -2.4% |
| Income taxes | 67/77 | €9,750 | €12,552 | +€2,802 | +28.7% |
| Profit (loss) for the period | 9904 | -€8,943 | €11,912 | +€20,856 | |
| Transfer from tax-exempt reserves | 789 | €16,547 | €16,151 | -€396 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,603 | €28,063 | +€20,460 | +269% |
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.