GIBO: 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.
GIBO
Largest movements
- Tangible fixed assets +€99,669
up €99,669 (+22.2%), from €449,071 to €548,740
of which Assets under construction and advance payments: +€385,767
- Cash -€87,752
down €87,752 (-50.7%), from €173,056 to €85,304
mainly Investment in fixed assets (net) (-€130,557) and Other debts (-€110,650)
- Receivables within one year -€32,477
down €32,477 (-37.0%), from €87,692 to €55,215
of which Trade receivables: -€34,382
- Deferred charges and accrued income -€14,888
down €14,888 (-72.4%), from €20,572 to €5,684
- Other debts -€110,650
down €110,650 (-95.7%), from €115,650 to €5,000
- Reserves +€90,415
up €90,415 (+162.5%), from €55,641 to €146,056
of which Distributable reserves: +€90,415
- Trade debts -€82,581
down €82,581 (-89.2%), from €92,626 to €10,045
- Debts after one year +€65,242
up €65,242 (+20.0%), from €326,726 to €391,967
of which Other amounts payable: +€117,057
- Short-term financial debts +€30,000
new in 2025: €30,000
- Gross operating margin +€74,016
up €74,016 (+82.6%), from €89,566 to €163,582
- Taxes +€17,574
up €17,574 (+204.5%), from €8,592 to €26,166
- Depreciation -€11,247
down €11,247 (-26.7%), from €42,185 to €30,937
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 | €730,711 | €695,213 | -€35,498 | -4.9% |
| Fixed assets | 21/28 | €449,391 | €549,010 | +€99,619 | +22.2% |
| Tangible fixed assets | 22/27 | €449,071 | €548,740 | +€99,669 | +22.2% |
| Land and buildings | 22 | €320,257 | €63,896 | -€256,361 | -80.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €121,064 | €91,327 | -€29,737 | -24.6% |
| Assets under construction and advance payments | 27 | €7,751 | €393,518 | +€385,767 | +4977.3% |
| Financial fixed assets | 28 | €320 | €270 | -€50 | -15.6% |
| Current assets | 29/58 | €281,319 | €146,202 | -€135,117 | -48.0% |
| Amounts receivable within one year | 40/41 | €87,692 | €55,215 | -€32,477 | -37.0% |
| Trade receivables | 40 | €83,251 | €48,869 | -€34,382 | -41.3% |
| Other amounts receivable | 41 | €4,440 | €6,346 | +€1,905 | +42.9% |
| Cash at bank and in hand | 54/58 | €173,056 | €85,304 | -€87,752 | -50.7% |
| Deferred charges and accrued income | 490/1 | €20,572 | €5,684 | -€14,888 | -72.4% |
| Total equity and liabilities | 10/49 | €730,711 | €695,213 | -€35,498 | -4.9% |
| Equity | 10/15 | €105,220 | €195,635 | +€90,415 | +85.9% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €55,641 | €146,056 | +€90,415 | +162.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €55,641 | €146,056 | +€90,415 | +162.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €625,491 | €499,578 | -€125,913 | -20.1% |
| Amounts payable after more than one year | 17 | €326,726 | €391,967 | +€65,242 | +20.0% |
| Financial debts | 170/4 | €326,726 | €274,910 | -€51,815 | -15.9% |
| Other amounts payable | 178/9 | - | €117,057 | +€117,057 | |
| Amounts payable within one year | 42/48 | €276,505 | €107,588 | -€168,918 | -61.1% |
| Current portion of amounts payable after more than one year | 42 | €51,227 | €52,506 | +€1,279 | +2.5% |
| Financial debts | 43 | - | €30,000 | +€30,000 | |
| Credit institutions | 430/8 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €92,626 | €10,045 | -€82,581 | -89.2% |
| Suppliers | 440/4 | €92,626 | €10,045 | -€82,581 | -89.2% |
| Taxes, remuneration and social security | 45 | €17,003 | €10,037 | -€6,966 | -41.0% |
| Taxes | 450/3 | €17,003 | €10,037 | -€6,966 | -41.0% |
| Other amounts payable | 47/48 | €115,650 | €5,000 | -€110,650 | -95.7% |
| Accrued charges and deferred income | 492/3 | €22,260 | €23 | -€22,237 | -99.9% |
| Non-recurring operating income | 76A | - | €125,503 | +€125,503 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,185 | €30,937 | -€11,247 | -26.7% |
| Other operating charges | 640/8 | €4,205 | €3,492 | -€712 | -16.9% |
| Non-recurring operating charges | 66A | - | €50 | +€50 | |
| Gross operating margin | 9900 | €89,566 | €163,582 | +€74,016 | +82.6% |
| Operating profit (loss) | 9901 | €43,176 | €129,103 | +€85,926 | +199.0% |
| Financial income | 75/76B | €72 | €0 | -€72 | -100.0% |
| Recurring financial income | 75 | €72 | €0 | -€72 | -100.0% |
| Financial charges | 65/66B | €6,404 | €7,522 | +€1,118 | +17.5% |
| Recurring financial charges | 65 | €6,404 | €7,522 | +€1,118 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | €36,844 | €121,581 | +€84,736 | +230.0% |
| Income taxes | 67/77 | €8,592 | €26,166 | +€17,574 | +204.5% |
| Profit (loss) for the period | 9904 | €28,253 | €95,415 | +€67,162 | +237.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,253 | €95,415 | +€67,162 | +237.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.