GIBELEC: what changed
Two fiscal 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.
GIBELEC
Largest movements
- Tangible fixed assets -€26,360
down €26,360 (-91.2%), from €28,908 to €2,548
of which Furniture and vehicles: -€26,333
- Receivables within one year +€8,689
up €8,689 (+11.1%), from €78,306 to €86,995
of which Trade receivables: +€34,060
- Cash +€1,391
up €1,391 (+18.9%), from €7,363 to €8,754
mainly Net result for the year (+€34,198) and Investment in fixed assets (net) (+€25,740)
- Other debts -€15,757
no longer reported in 2025 (was €15,757)
- Tax, wage and social debts +€5,181
up €5,181 (+38.1%), from €13,586 to €18,767
- Debts after one year -€4,912
down €4,912 (-59.4%), from €8,268 to €3,356
- Reserves -€2,374
down €2,374 (-3.9%), from €61,544 to €59,170
- Gross operating margin +€33,525
up €33,525 (+151.5%), from €22,125 to €55,649
- Taxes +€9,418
up €9,418 (+251.4%), from €3,746 to €13,164
- Depreciation -€8,144
down €8,144 (-92.9%), from €8,765 to €621
- Other operating charges +€5,571
up €5,571 (+536.3%), from €1,039 to €6,610
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.
Cash bridge derived
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 | €120,627 | €103,588 | -€17,039 | -14.1% |
| Fixed assets | 21/28 | €28,908 | €2,548 | -€26,360 | -91.2% |
| Tangible fixed assets | 22/27 | €28,908 | €2,548 | -€26,360 | -91.2% |
| Plant, machinery and equipment | 23 | €200 | €173 | -€27 | -13.5% |
| Furniture and vehicles | 24 | €28,708 | €2,375 | -€26,333 | -91.7% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €91,719 | €101,041 | +€9,322 | +10.2% |
| Stocks and contracts in progress | 3 | €3,087 | €2,611 | -€476 | -15.4% |
| Stocks | 30/36 | €3,087 | €2,611 | -€476 | -15.4% |
| Amounts receivable within one year | 40/41 | €78,306 | €86,995 | +€8,689 | +11.1% |
| Trade receivables | 40 | €5,420 | €39,480 | +€34,060 | +628.5% |
| Other amounts receivable | 41 | €72,887 | €47,515 | -€25,371 | -34.8% |
| Cash at bank and in hand | 54/58 | €7,363 | €8,754 | +€1,391 | +18.9% |
| Deferred charges and accrued income | 490/1 | €2,963 | €2,680 | -€283 | -9.5% |
| Total equity and liabilities | 10/49 | €120,627 | €103,588 | -€17,039 | -14.1% |
| Equity | 10/15 | €73,637 | €71,263 | -€2,374 | -3.2% |
| Contributions | 10/11 | €12,094 | €12,094 | = | 0.0% |
| Reserves | 13 | €61,544 | €59,170 | -€2,374 | -3.9% |
| Distributable reserves | 133 | €61,544 | €59,170 | -€2,374 | -3.9% |
| Amounts payable | 17/49 | €46,990 | €32,325 | -€14,665 | -31.2% |
| Amounts payable after more than one year | 17 | €8,268 | €3,356 | -€4,912 | -59.4% |
| Financial debts | 170/4 | €8,268 | €3,356 | -€4,912 | -59.4% |
| Amounts payable within one year | 42/48 | €38,722 | €28,969 | -€9,753 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €4,769 | €4,912 | +€143 | +3.0% |
| Trade debts | 44 | €4,610 | €5,290 | +€680 | +14.8% |
| Suppliers | 440/4 | €4,610 | €5,290 | +€680 | +14.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €13,586 | €18,767 | +€5,181 | +38.1% |
| Taxes | 450/3 | €13,586 | €18,767 | +€5,181 | +38.1% |
| Other amounts payable | 47/48 | €15,757 | - | -€15,757 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,765 | €621 | -€8,144 | -92.9% |
| Other operating charges | 640/8 | €1,039 | €6,610 | +€5,571 | +536.3% |
| Gross operating margin | 9900 | €22,125 | €55,649 | +€33,525 | +151.5% |
| Operating profit (loss) | 9901 | €12,321 | €48,419 | +€36,098 | +293.0% |
| Financial income | 75/76B | €12 | €46 | +€34 | +283.3% |
| Recurring financial income | 75 | €12 | €46 | +€34 | +283.3% |
| Financial charges | 65/66B | €1,245 | €1,103 | -€142 | -11.4% |
| Recurring financial charges | 65 | €1,245 | €1,103 | -€142 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €11,088 | €47,361 | +€36,273 | +327.1% |
| Income taxes | 67/77 | €3,746 | €13,164 | +€9,418 | +251.4% |
| Profit (loss) for the period | 9904 | €7,342 | €34,198 | +€26,856 | +365.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,342 | €34,198 | +€26,856 | +365.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.