GIJBELS STABLES: 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.
GIJBELS STABLES
Largest movements
- Stocks and contracts +€454,385
up €454,385 (+80.9%), from €561,415 to €1.0m
- Tangible fixed assets +€203,871
up €203,871 (+13.2%), from €1.5m to €1.8m
of which Land and buildings: +€165,530
- Receivables within one year +€38,556
up €38,556 (+48.4%), from €79,610 to €118,167
of which Trade receivables: +€50,150
- Short-term financial debts +€357,731
up €357,731 (+2,620%), from €13,652 to €371,382
- Other debts +€268,698
up €268,698 (+68.1%), from €394,557 to €663,255
- Profit (loss) carried forward +€254,430
up €254,430 (+72.1%), from -€352,781 to -€98,351
- Current portion of long-term debt -€171,571
down €171,571 (-59.2%), from €289,743 to €118,172
- Trade debts -€38,272
down €38,272 (-7.0%), from €549,874 to €511,602
- Gross operating margin +€695,902
up €695,902, from -€230,299 to €465,603
- Depreciation +€46,831
up €46,831 (+54.7%), from €85,551 to €132,382
- Financial charges +€30,896
up €30,896 (+93.4%), from €33,089 to €63,985
- Staff costs +€9,691
up €9,691 (+333%), from €2,911 to €12,601
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 | €2,210,222 | €2,890,467 | +€680,245 | +30.8% |
| Fixed assets | 21/28 | €1,552,154 | €1,754,679 | +€202,525 | +13.0% |
| Intangible fixed assets | 21 | €4,775 | €3,429 | -€1,345 | -28.2% |
| Tangible fixed assets | 22/27 | €1,547,379 | €1,751,250 | +€203,871 | +13.2% |
| Land and buildings | 22 | €1,432,947 | €1,598,478 | +€165,530 | +11.6% |
| Plant, machinery and equipment | 23 | €66,864 | €115,889 | +€49,025 | +73.3% |
| Furniture and vehicles | 24 | €44,598 | €35,398 | -€9,200 | -20.6% |
| Leasing and similar rights | 25 | €2,970 | €1,485 | -€1,485 | -50.0% |
| Current assets | 29/58 | €658,068 | €1,135,788 | +€477,720 | +72.6% |
| Stocks and contracts in progress | 3 | €561,415 | €1,015,800 | +€454,385 | +80.9% |
| Stocks | 30/36 | €561,415 | €1,015,800 | +€454,385 | +80.9% |
| Amounts receivable within one year | 40/41 | €79,610 | €118,167 | +€38,556 | +48.4% |
| Trade receivables | 40 | €63,580 | €113,730 | +€50,150 | +78.9% |
| Other amounts receivable | 41 | €16,030 | €4,436 | -€11,594 | -72.3% |
| Cash at bank and in hand | 54/58 | €12,006 | €137 | -€11,869 | -98.9% |
| Deferred charges and accrued income | 490/1 | €5,037 | €1,684 | -€3,352 | -66.6% |
| Total equity and liabilities | 10/49 | €2,210,222 | €2,890,467 | +€680,245 | +30.8% |
| Equity | 10/15 | -€182,981 | €71,449 | +€254,430 | |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €129,801 | €129,801 | = | 0.0% |
| Distributable reserves | 133 | €129,801 | €129,801 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€352,781 | -€98,351 | +€254,430 | +72.1% |
| Amounts payable | 17/49 | €2,393,203 | €2,819,018 | +€425,815 | +17.8% |
| Amounts payable after more than one year | 17 | €1,096,024 | €1,128,643 | +€32,619 | +3.0% |
| Financial debts | 170/4 | €1,096,024 | €1,128,643 | +€32,619 | +3.0% |
| Amounts payable within one year | 42/48 | €1,253,904 | €1,665,375 | +€411,470 | +32.8% |
| Current portion of amounts payable after more than one year | 42 | €289,743 | €118,172 | -€171,571 | -59.2% |
| Financial debts | 43 | €13,652 | €371,382 | +€357,731 | +2,620% |
| Credit institutions | 430/8 | €13,652 | €371,382 | +€357,731 | +2,620% |
| Trade debts | 44 | €549,874 | €511,602 | -€38,272 | -7.0% |
| Suppliers | 440/4 | €549,874 | €511,602 | -€38,272 | -7.0% |
| Taxes, remuneration and social security | 45 | €6,079 | €963 | -€5,116 | -84.2% |
| Taxes | 450/3 | €5,560 | €0 | -€5,560 | -100% |
| Remuneration and social security | 454/9 | €518 | €963 | +€445 | +85.8% |
| Other amounts payable | 47/48 | €394,557 | €663,255 | +€268,698 | +68.1% |
| Accrued charges and deferred income | 492/3 | €43,274 | €25,000 | -€18,274 | -42.2% |
| Remuneration, social security and pensions | 62 | €2,911 | €12,601 | +€9,691 | +333% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,551 | €132,382 | +€46,831 | +54.7% |
| Other operating charges | 640/8 | €1,530 | €2,245 | +€715 | +46.7% |
| Gross operating margin | 9900 | -€230,299 | €465,603 | +€695,902 | |
| Operating profit (loss) | 9901 | -€320,291 | €318,374 | +€638,665 | |
| Financial income | 75/76B | €598 | €41 | -€557 | -93.1% |
| Recurring financial income | 75 | €598 | €41 | -€557 | -93.1% |
| Financial charges | 65/66B | €33,089 | €63,985 | +€30,896 | +93.4% |
| Recurring financial charges | 65 | €33,089 | €63,985 | +€30,896 | +93.4% |
| Profit (loss) for the period before taxes | 9903 | -€352,781 | €254,430 | +€607,211 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€352,781 | €254,430 | +€607,211 | |
| Profit (loss) for the period to be appropriated | 9905 | -€352,781 | €254,430 | +€607,211 |
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 23 October 2026 via checked.be.