GIEBRECHTS: 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.
GIEBRECHTS
Largest movements
- Receivables within one year -€24,090
down €24,090 (-10.3%), from €233,394 to €209,304
of which Trade receivables: -€14,919
- Cash +€23,026
up €23,026 (+460%), from €5,009 to €28,035
mainly Receivables within one year (+€24,090) and Net result for the year (+€9,186)
- Other debts -€11,579
down €11,579 (-100%), from €11,579 to €0
- Reserves +€9,186
up €9,186 (+5.2%), from €177,596 to €186,782
of which Distributable reserves: +€9,186
- Trade debts +€2,746
up €2,746 (+21.2%), from €12,962 to €15,707
- Staff costs -€4,962
down €4,962 (-3.5%), from €142,767 to €137,805
- Gross operating margin +€3,768
up €3,768 (+2.6%), from €145,894 to €149,662
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 | €242,017 | €240,786 | -€1,231 | -0.5% |
| Fixed assets | 21/28 | €1,919 | €1,645 | -€274 | -14.3% |
| Tangible fixed assets | 22/27 | €1,919 | €1,645 | -€274 | -14.3% |
| Land and buildings | 22 | €1,919 | €1,645 | -€274 | -14.3% |
| Current assets | 29/58 | €240,098 | €239,141 | -€957 | -0.4% |
| Amounts receivable within one year | 40/41 | €233,394 | €209,304 | -€24,090 | -10.3% |
| Trade receivables | 40 | €47,841 | €32,922 | -€14,919 | -31.2% |
| Other amounts receivable | 41 | €185,553 | €176,382 | -€9,171 | -4.9% |
| Cash at bank and in hand | 54/58 | €5,009 | €28,035 | +€23,026 | +460% |
| Deferred charges and accrued income | 490/1 | €1,695 | €1,802 | +€108 | +6.4% |
| Total equity and liabilities | 10/49 | €242,017 | €240,786 | -€1,231 | -0.5% |
| Equity | 10/15 | €197,427 | €206,614 | +€9,186 | +4.7% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €177,596 | €186,782 | +€9,186 | +5.2% |
| Tax-exempt reserves | 132 | €31,000 | €31,000 | = | 0.0% |
| Distributable reserves | 133 | €146,596 | €155,782 | +€9,186 | +6.3% |
| Amounts payable | 17/49 | €44,589 | €34,173 | -€10,417 | -23.4% |
| Amounts payable within one year | 42/48 | €44,589 | €34,173 | -€10,417 | -23.4% |
| Trade debts | 44 | €12,962 | €15,707 | +€2,746 | +21.2% |
| Suppliers | 440/4 | €12,962 | €15,707 | +€2,746 | +21.2% |
| Taxes, remuneration and social security | 45 | €20,048 | €18,465 | -€1,583 | -7.9% |
| Taxes | 450/3 | €3,446 | €1,737 | -€1,709 | -49.6% |
| Remuneration and social security | 454/9 | €16,602 | €16,728 | +€126 | +0.8% |
| Other amounts payable | 47/48 | €11,579 | €0 | -€11,579 | -100% |
| Non-recurring operating income | 76A | €100 | €0 | -€100 | -100% |
| Remuneration, social security and pensions | 62 | €142,767 | €137,805 | -€4,962 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €274 | €274 | -€0 | 0.0% |
| Other operating charges | 640/8 | €856 | €1,797 | +€941 | +110% |
| Gross operating margin | 9900 | €145,894 | €149,662 | +€3,768 | +2.6% |
| Operating profit (loss) | 9901 | €1,997 | €9,786 | +€7,789 | +390% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €270 | €149 | -€120 | -44.6% |
| Recurring financial charges | 65 | €270 | €149 | -€120 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | €1,728 | €9,636 | +€7,909 | +458% |
| Income taxes | 67/77 | - | €450 | +€450 | |
| Profit (loss) for the period | 9904 | €1,728 | €9,186 | +€7,459 | +432% |
| Profit (loss) for the period to be appropriated | 9905 | €1,728 | €9,186 | +€7,459 | +432% |
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 21 October 2026 via checked.be.