GILBEKO: 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.
GILBEKO
Largest movements
- Current investments -€239,946
down €239,946 (-100%), from €239,946 to €0
- Cash -€199,953
down €199,953 (-99.7%), from €200,461 to €509
mainly Contributions, distributions and other (-€539,415) and Net result for the year (-€39,270)
- Receivables within one year -€121,817
down €121,817 (-99.2%), from €122,771 to €955
of which Other amounts receivable: -€82,635
- Contributions -€450,047
down €450,047 (-87.9%), from €511,971 to €61,924
- Reserves -€89,368
down €89,368 (-39.1%), from €228,423 to €139,055
of which Distributable reserves: -€87,673
- Profit (loss) carried forward -€39,270
down €39,270 (-141%), from -€27,938 to -€67,208
- Other debts +€12,879
new in 2025: €12,879
- Gross operating margin -€186,496
down €186,496, from €175,297 to -€11,199
- Taxes -€39,677
down €39,677 (-89.6%), from €44,262 to €4,585
- Financial income +€24,784
up €24,784 (+439%), from €5,647 to €30,431
of which Financial income: +€25,368
- Financial charges +€22,918
up €22,918, from -€8,240 to €14,678
- Other operating charges -€2,630
down €2,630 (-70.1%), from €3,752 to €1,122
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 | €713,153 | €151,205 | -€561,949 | -78.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €149,741 | €149,741 | = | 0.0% |
| Tangible fixed assets | 22/27 | €149,741 | €149,741 | = | 0.0% |
| Land and buildings | 22 | €149,741 | €149,741 | = | 0.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €563,412 | €1,463 | -€561,949 | -99.7% |
| Amounts receivable within one year | 40/41 | €122,771 | €955 | -€121,817 | -99.2% |
| Trade receivables | 40 | €39,223 | €40 | -€39,182 | -99.9% |
| Other amounts receivable | 41 | €83,549 | €914 | -€82,635 | -98.9% |
| Current investments | 50/53 | €239,946 | €0 | -€239,946 | -100% |
| Cash at bank and in hand | 54/58 | €200,461 | €509 | -€199,953 | -99.7% |
| Deferred charges and accrued income | 490/1 | €233 | €0 | -€233 | -100% |
| Total equity and liabilities | 10/49 | €713,153 | €151,205 | -€561,949 | -78.8% |
| Equity | 10/15 | €712,456 | €133,771 | -€578,685 | -81.2% |
| Contributions | 10/11 | €511,971 | €61,924 | -€450,047 | -87.9% |
| Capital | 10 | €511,971 | €61,924 | -€450,047 | -87.9% |
| Issued capital | 100 | €511,971 | €61,924 | -€450,047 | -87.9% |
| Reserves | 13 | €228,423 | €139,055 | -€89,368 | -39.1% |
| Non-distributable reserves | 130/1 | €18,470 | €16,775 | -€1,695 | -9.2% |
| Legal reserve | 130 | €18,470 | €16,775 | -€1,695 | -9.2% |
| Distributable reserves | 133 | €209,953 | €122,280 | -€87,673 | -41.8% |
| Profit (loss) carried forward | 14 | -€27,938 | -€67,208 | -€39,270 | -141% |
| Amounts payable | 17/49 | €697 | €17,433 | +€16,736 | +2,401% |
| Amounts payable within one year | 42/48 | €697 | €17,433 | +€16,736 | +2,401% |
| Trade debts | 44 | €574 | €0 | -€574 | -100% |
| Suppliers | 440/4 | €574 | €0 | -€574 | -100% |
| Taxes, remuneration and social security | 45 | €123 | €4,554 | +€4,432 | +3,610% |
| Taxes | 450/3 | €123 | €4,554 | +€4,432 | +3,610% |
| Other amounts payable | 47/48 | - | €12,879 | +€12,879 | |
| Non-recurring operating income | 76A | €189,498 | €4,500 | -€184,998 | -97.6% |
| Other operating charges | 640/8 | €3,752 | €1,122 | -€2,630 | -70.1% |
| Non-recurring operating charges | 66A | - | €38,118 | +€38,118 | |
| Gross operating margin | 9900 | €175,297 | -€11,199 | -€186,496 | |
| Operating profit (loss) | 9901 | €171,546 | -€50,438 | -€221,984 | |
| Financial income | 75/76B | €5,647 | €30,431 | +€24,784 | +439% |
| Recurring financial income | 75 | €5,063 | €30,431 | +€25,368 | +501% |
| Non-recurring financial income | 76B | €585 | - | -€585 | |
| Financial charges | 65/66B | -€8,240 | €14,678 | +€22,918 | |
| Recurring financial charges | 65 | -€8,240 | €14,678 | +€22,918 | |
| Profit (loss) for the period before taxes | 9903 | €185,433 | -€34,685 | -€220,117 | |
| Transfer from deferred taxes | 780 | €11,484 | €0 | -€11,484 | -100% |
| Income taxes | 67/77 | €44,262 | €4,585 | -€39,677 | -89.6% |
| Profit (loss) for the period | 9904 | €152,654 | -€39,270 | -€191,924 | |
| Transfer from tax-exempt reserves | 789 | €34,451 | €0 | -€34,451 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €187,105 | -€39,270 | -€226,375 |
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.