GICB: 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.
GICB
Largest movements
- Receivables within one year -€22,792
down €22,792 (-25.5%), from €89,441 to €66,648
of which Trade receivables: -€28,271
- Trade debts -€15,206
down €15,206 (-6.4%), from €237,083 to €221,877
- Other debts -€13,269
down €13,269 (-18.4%), from €72,055 to €58,786
- Profit (loss) carried forward +€5,455
up €5,455 (+3.0%), from -€183,164 to -€177,709
- Write-downs +€26,673
new in 2025: €26,673
- Other operating charges -€2,934
down €2,934 (-76.4%), from €3,840 to €906
- Gross operating margin -€1,074
down €1,074 (-2.0%), from €52,943 to €51,868
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 | €147,567 | €124,464 | -€23,103 | -15.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €58,107 | €57,815 | -€292 | -0.5% |
| Tangible fixed assets | 22/27 | €292 | - | -€292 | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €292 | - | -€292 | |
| Financial fixed assets | 28 | €57,815 | €57,815 | = | 0.0% |
| Current assets | 29/58 | €89,460 | €66,649 | -€22,811 | -25.5% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €89,441 | €66,648 | -€22,792 | -25.5% |
| Trade receivables | 40 | €84,692 | €56,421 | -€28,271 | -33.4% |
| Other amounts receivable | 41 | €4,749 | €10,227 | +€5,478 | +115% |
| Cash at bank and in hand | 54/58 | €19 | €1 | -€19 | -96.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €147,567 | €124,464 | -€23,103 | -15.7% |
| Equity | 10/15 | -€162,764 | -€157,309 | +€5,455 | +3.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Capital | 10 | €18,550 | €18,550 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,850 | €1,850 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,850 | €1,850 | = | 0.0% |
| Legal reserve | 130 | €1,850 | €1,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€183,164 | -€177,709 | +€5,455 | +3.0% |
| Amounts payable | 17/49 | €310,331 | €281,773 | -€28,557 | -9.2% |
| Amounts payable within one year | 42/48 | €310,331 | €281,773 | -€28,557 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €237,083 | €221,877 | -€15,206 | -6.4% |
| Suppliers | 440/4 | €237,083 | €221,877 | -€15,206 | -6.4% |
| Taxes, remuneration and social security | 45 | €1,193 | €1,111 | -€82 | -6.9% |
| Taxes | 450/3 | €1,111 | €1,111 | = | 0.0% |
| Remuneration and social security | 454/9 | €82 | - | -€82 | |
| Other amounts payable | 47/48 | €72,055 | €58,786 | -€13,269 | -18.4% |
| Remuneration, social security and pensions | 62 | €18,308 | €18,185 | -€123 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €653 | €292 | -€361 | -55.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €26,673 | +€26,673 | |
| Other operating charges | 640/8 | €3,840 | €906 | -€2,934 | -76.4% |
| Gross operating margin | 9900 | €52,943 | €51,868 | -€1,074 | -2.0% |
| Operating profit (loss) | 9901 | €30,142 | €5,813 | -€24,329 | -80.7% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €717 | €359 | -€358 | -50.0% |
| Recurring financial charges | 65 | €717 | €359 | -€358 | -50.0% |
| Profit (loss) for the period before taxes | 9903 | €29,426 | €5,455 | -€23,971 | -81.5% |
| Profit (loss) for the period | 9904 | €29,426 | €5,455 | -€23,971 | -81.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,426 | €5,455 | -€23,971 | -81.5% |
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 25 October 2026 via checked.be.