GIBED: 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.
GIBED
Largest movements
- Receivables within one year -€355,544
down €355,544 (-36.8%), from €965,164 to €609,620
of which Trade receivables: -€356,667
- Cash +€188,787
up €188,787 (+22.0%), from €858,039 to €1.0m
mainly Receivables within one year (+€355,544) and Trade debts (+€41,919)
- Deferred charges and accrued income +€174,411
up €174,411 (+45.6%), from €382,440 to €556,852
- Tangible fixed assets -€34,258
down €34,258 (-37.6%), from €91,126 to €56,868
of which Furniture and vehicles: -€33,168
- Trade debts +€41,919
up €41,919 (+100%), from €41,867 to €83,786
- Accrued charges and deferred income -€40,733
down €40,733 (-8.8%), from €460,268 to €419,535
- Tax, wage and social debts -€30,989
down €30,989 (-21.8%), from €142,205 to €111,216
of which Taxes: -€35,692
- Other operating charges -€50,250
down €50,250 (-11.4%), from €441,874 to €391,624
- Gross operating margin -€32,469
down €32,469 (-3.9%), from €829,125 to €796,657
- Financial income -€20,785
down €20,785 (-57.5%), from €36,176 to €15,390
- Staff costs +€17,359
up €17,359 (+5.2%), from €333,056 to €350,415
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 | €2,302,969 | €2,276,366 | -€26,603 | -1.2% |
| Fixed assets | 21/28 | €97,326 | €63,068 | -€34,258 | -35.2% |
| Tangible fixed assets | 22/27 | €91,126 | €56,868 | -€34,258 | -37.6% |
| Plant, machinery and equipment | 23 | €1,982 | €892 | -€1,090 | -55.0% |
| Furniture and vehicles | 24 | €89,145 | €55,976 | -€33,168 | -37.2% |
| Financial fixed assets | 28 | €6,200 | €6,200 | = | 0.0% |
| Current assets | 29/58 | €2,205,643 | €2,213,298 | +€7,655 | +0.3% |
| Amounts receivable within one year | 40/41 | €965,164 | €609,620 | -€355,544 | -36.8% |
| Trade receivables | 40 | €902,612 | €545,944 | -€356,667 | -39.5% |
| Other amounts receivable | 41 | €62,552 | €63,676 | +€1,124 | +1.8% |
| Cash at bank and in hand | 54/58 | €858,039 | €1,046,826 | +€188,787 | +22.0% |
| Deferred charges and accrued income | 490/1 | €382,440 | €556,852 | +€174,411 | +45.6% |
| Total equity and liabilities | 10/49 | €2,302,969 | €2,276,366 | -€26,603 | -1.2% |
| Equity | 10/15 | €1,425,924 | €1,443,375 | +€17,450 | +1.2% |
| Contributions | 10/11 | €58,648 | €58,648 | = | 0.0% |
| Reserves | 13 | €1,367,276 | €1,384,727 | +€17,450 | +1.3% |
| Non-distributable reserves | 130/1 | €5,865 | €5,865 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,865 | €5,865 | = | 0.0% |
| Distributable reserves | 133 | €1,361,411 | €1,378,862 | +€17,450 | +1.3% |
| Amounts payable | 17/49 | €877,045 | €832,991 | -€44,053 | -5.0% |
| Amounts payable within one year | 42/48 | €416,777 | €413,456 | -€3,321 | -0.8% |
| Trade debts | 44 | €41,867 | €83,786 | +€41,919 | +100% |
| Suppliers | 440/4 | €41,867 | €83,786 | +€41,919 | +100% |
| Advances received on contracts in progress | 46 | €64,705 | €50,455 | -€14,251 | -22.0% |
| Taxes, remuneration and social security | 45 | €142,205 | €111,216 | -€30,989 | -21.8% |
| Taxes | 450/3 | €101,780 | €66,088 | -€35,692 | -35.1% |
| Remuneration and social security | 454/9 | €40,425 | €45,127 | +€4,703 | +11.6% |
| Other amounts payable | 47/48 | €168,000 | €168,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €460,268 | €419,535 | -€40,733 | -8.8% |
| Remuneration, social security and pensions | 62 | €333,056 | €350,415 | +€17,359 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,258 | €34,258 | +€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,200 | €0 | -€3,200 | -100% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €441,874 | €391,624 | -€50,250 | -11.4% |
| Gross operating margin | 9900 | €829,125 | €796,657 | -€32,469 | -3.9% |
| Operating profit (loss) | 9901 | €16,738 | €20,359 | +€3,622 | +21.6% |
| Financial income | 75/76B | €36,176 | €15,390 | -€20,785 | -57.5% |
| Recurring financial income | 75 | €36,176 | €15,390 | -€20,785 | -57.5% |
| Financial charges | 65/66B | €11,336 | €3,865 | -€7,471 | -65.9% |
| Recurring financial charges | 65 | €11,336 | €3,865 | -€7,471 | -65.9% |
| Profit (loss) for the period before taxes | 9903 | €41,577 | €31,885 | -€9,692 | -23.3% |
| Income taxes | 67/77 | €16,214 | €14,434 | -€1,780 | -11.0% |
| Profit (loss) for the period | 9904 | €25,363 | €17,450 | -€7,912 | -31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,363 | €17,450 | -€7,912 | -31.2% |
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.