GIEL LAMBERT: what changed
GIEL LAMBERT
Largest movements
- Tangible fixed assets +€27,563
up €27,563 (+18.5%), from €148,811 to €176,373
of which Furniture and vehicles: +€25,265
- Cash -€16,892
down €16,892 (-8.6%), from €196,429 to €179,537
mainly Investment in fixed assets (net) (-€58,172) and Receivables within one year (-€13,817)
- Receivables within one year +€13,817
up €13,817 (+26.9%), from €51,448 to €65,264
of which Trade receivables: +€16,790
- Reserves +€35,192
up €35,192 (+18.8%), from €186,712 to €221,904
- Debts after one year +€12,727
up €12,727 (+15.2%), from €83,993 to €96,719
- Trade debts -€11,665
down €11,665 (-72.7%), from €16,044 to €4,380
- Tax, wage and social debts -€11,217
down €11,217 (-94.0%), from €11,935 to €718
- Other debts -€10,166
down €10,166 (-12.4%), from €81,798 to €71,631
- Gross operating margin -€13,023
down €13,023 (-14.1%), from €92,247 to €79,224
- Taxes -€3,012
down €3,012 (-25.7%), from €11,731 to €8,719
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €406,061 | €432,174 | +€26,113 | +6.4% |
| Fixed assets | 21/28 | €148,811 | €176,373 | +€27,563 | +18.5% |
| Tangible fixed assets | 22/27 | €148,811 | €176,373 | +€27,563 | +18.5% |
| Land and buildings | 22 | €74,548 | €69,663 | -€4,885 | -6.6% |
| Plant, machinery and equipment | 23 | €12,097 | €11,168 | -€929 | -7.7% |
| Furniture and vehicles | 24 | €53,386 | €78,651 | +€25,265 | +47.3% |
| Other tangible fixed assets | 26 | €8,781 | €16,892 | +€8,112 | +92.4% |
| Current assets | 29/58 | €257,250 | €255,800 | -€1,450 | -0.6% |
| Stocks and contracts in progress | 3 | €7,902 | €7,742 | -€160 | -2.0% |
| Stocks | 30/36 | €7,902 | €7,742 | -€160 | -2.0% |
| Amounts receivable within one year | 40/41 | €51,448 | €65,264 | +€13,817 | +26.9% |
| Trade receivables | 40 | €43,150 | €59,939 | +€16,790 | +38.9% |
| Other amounts receivable | 41 | €8,298 | €5,325 | -€2,973 | -35.8% |
| Cash at bank and in hand | 54/58 | €196,429 | €179,537 | -€16,892 | -8.6% |
| Deferred charges and accrued income | 490/1 | €1,471 | €3,257 | +€1,786 | +121% |
| Total equity and liabilities | 10/49 | €406,061 | €432,174 | +€26,113 | +6.4% |
| Equity | 10/15 | €191,712 | €226,904 | +€35,192 | +18.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €186,712 | €221,904 | +€35,192 | +18.8% |
| Distributable reserves | 133 | €186,712 | €221,904 | +€35,192 | +18.8% |
| Amounts payable | 17/49 | €214,349 | €205,270 | -€9,079 | -4.2% |
| Amounts payable after more than one year | 17 | €83,993 | €96,719 | +€12,727 | +15.2% |
| Financial debts | 170/4 | €83,993 | €96,719 | +€12,727 | +15.2% |
| Amounts payable within one year | 42/48 | €130,356 | €106,989 | -€23,367 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €20,580 | €30,260 | +€9,680 | +47.0% |
| Trade debts | 44 | €16,044 | €4,380 | -€11,665 | -72.7% |
| Suppliers | 440/4 | €16,044 | €4,380 | -€11,665 | -72.7% |
| Taxes, remuneration and social security | 45 | €11,935 | €718 | -€11,217 | -94.0% |
| Taxes | 450/3 | €11,935 | €718 | -€11,217 | -94.0% |
| Other amounts payable | 47/48 | €81,798 | €71,631 | -€10,166 | -12.4% |
| Accrued charges and deferred income | 492/3 | - | €1,562 | +€1,562 | |
| Non-recurring operating income | 76A | - | €12,000 | +€12,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,175 | €30,609 | +€434 | +1.4% |
| Other operating charges | 640/8 | €1,716 | €1,550 | -€166 | -9.7% |
| Gross operating margin | 9900 | €92,247 | €79,224 | -€13,023 | -14.1% |
| Operating profit (loss) | 9901 | €60,356 | €47,065 | -€13,291 | -22.0% |
| Financial income | 75/76B | €1 | €103 | +€102 | +17,035% |
| Recurring financial income | 75 | €1 | €103 | +€102 | +17,035% |
| Financial charges | 65/66B | €3,079 | €3,257 | +€178 | +5.8% |
| Recurring financial charges | 65 | €3,079 | €3,257 | +€178 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €57,278 | €43,911 | -€13,367 | -23.3% |
| Income taxes | 67/77 | €11,731 | €8,719 | -€3,012 | -25.7% |
| Profit (loss) for the period | 9904 | €45,547 | €35,192 | -€10,355 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,547 | €35,192 | -€10,355 | -22.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.