GILBELLE: what changed
Two fiscal 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.
GILBELLE
Largest movements
- Receivables within one year +€15,582
up €15,582 (+13.3%), from €117,088 to €132,670
of which Other amounts receivable: +€15,722
- Cash -€7,660
down €7,660 (-68.0%), from €11,272 to €3,611
mainly Receivables within one year (-€15,582) and Current portion of long-term debt (-€4,541)
- Tangible fixed assets -€6,080
down €6,080 (-86.5%), from €7,029 to €949
- Reserves +€6,900
up €6,900 (+19.0%), from €36,409 to €43,309
- Current portion of long-term debt -€4,541
down €4,541 (-83.0%), from €5,470 to €928
- Other operating charges +€7,802
up €7,802 (+639.0%), from €1,221 to €9,023
- Gross operating margin +€2,083
up €2,083 (+7.6%), from €27,590 to €29,673
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.
Cash bridge derived
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 | €135,675 | €137,562 | +€1,887 | +1.4% |
| Fixed assets | 21/28 | €7,029 | €949 | -€6,080 | -86.5% |
| Tangible fixed assets | 22/27 | €7,029 | €949 | -€6,080 | -86.5% |
| Leasing and similar rights | 25 | €7,029 | €949 | -€6,080 | -86.5% |
| Current assets | 29/58 | €128,645 | €136,613 | +€7,967 | +6.2% |
| Amounts receivable within one year | 40/41 | €117,088 | €132,670 | +€15,582 | +13.3% |
| Trade receivables | 40 | €539 | €399 | -€139 | -25.9% |
| Other amounts receivable | 41 | €116,549 | €132,271 | +€15,722 | +13.5% |
| Cash at bank and in hand | 54/58 | €11,272 | €3,611 | -€7,660 | -68.0% |
| Deferred charges and accrued income | 490/1 | €286 | €331 | +€45 | +15.8% |
| Total equity and liabilities | 10/49 | €135,675 | €137,562 | +€1,887 | +1.4% |
| Equity | 10/15 | €120,090 | €127,082 | +€6,993 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,409 | €43,309 | +€6,900 | +19.0% |
| Distributable reserves | 133 | €36,409 | €43,309 | +€6,900 | +19.0% |
| Profit (loss) carried forward | 14 | €65,081 | €65,174 | +€93 | +0.1% |
| Amounts payable | 17/49 | €15,585 | €10,480 | -€5,105 | -32.8% |
| Amounts payable after more than one year | 17 | €5,488 | €4,560 | -€928 | -16.9% |
| Financial debts | 170/4 | €5,488 | €4,560 | -€928 | -16.9% |
| Amounts payable within one year | 42/48 | €10,097 | €5,920 | -€4,177 | -41.4% |
| Current portion of amounts payable after more than one year | 42 | €5,470 | €928 | -€4,541 | -83.0% |
| Trade debts | 44 | €3,944 | €3,346 | -€599 | -15.2% |
| Suppliers | 440/4 | €3,944 | €3,346 | -€599 | -15.2% |
| Taxes, remuneration and social security | 45 | €683 | €1,646 | +€963 | +141.1% |
| Taxes | 450/3 | €683 | €1,646 | +€963 | +141.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,080 | €6,080 | = | 0.0% |
| Other operating charges | 640/8 | €1,221 | €9,023 | +€7,802 | +639.0% |
| Gross operating margin | 9900 | €27,590 | €29,673 | +€2,083 | +7.6% |
| Operating profit (loss) | 9901 | €20,289 | €14,571 | -€5,718 | -28.2% |
| Financial charges | 65/66B | €1,115 | €1,100 | -€14 | -1.3% |
| Recurring financial charges | 65 | €1,115 | €1,100 | -€14 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €19,175 | €13,471 | -€5,704 | -29.7% |
| Income taxes | 67/77 | €6,683 | €6,478 | -€205 | -3.1% |
| Profit (loss) for the period | 9904 | €12,492 | €6,993 | -€5,499 | -44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,492 | €6,993 | -€5,499 | -44.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.