GILBERT & ZONEN: 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.
GILBERT & ZONEN
Largest movements
- Tangible fixed assets +€25,072
up €25,072 (+38.1%), from €65,795 to €90,866
of which Furniture and vehicles: +€25,072
- Receivables within one year +€13,028
up €13,028 (+84.1%), from €15,499 to €28,527
of which Other amounts receivable: +€10,789
- Intangible fixed assets -€9,000
down €9,000 (-23.5%), from €38,268 to €29,268
- Cash +€2,700
up €2,700 (+20.0%), from €13,501 to €16,201
mainly Current portion of long-term debt (+€15,433) and Depreciation (+€13,378)
- Current portion of long-term debt +€15,433
new in 2025: €15,433
- Other debts +€6,211
new in 2025: €6,211
- Trade debts +€6,104
up €6,104 (+335%), from €1,824 to €7,928
- Debts after one year +€4,702
up €4,702 (+4.5%), from €104,050 to €108,752
of which Financial debts: +€54,702
- Gross operating margin -€22,864
down €22,864 (-55.9%), from €40,934 to €18,070
- Depreciation -€9,559
down €9,559 (-41.7%), from €22,937 to €13,378
- Taxes -€2,407
down €2,407 (-70.2%), from €3,428 to €1,021
- Financial charges +€2,039
up €2,039 (+1,965%), from €104 to €2,142
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 | €134,505 | €165,787 | +€31,282 | +23.3% |
| Fixed assets | 21/28 | €104,063 | €120,135 | +€16,072 | +15.4% |
| Intangible fixed assets | 21 | €38,268 | €29,268 | -€9,000 | -23.5% |
| Tangible fixed assets | 22/27 | €65,795 | €90,866 | +€25,072 | +38.1% |
| Plant, machinery and equipment | 23 | €12,756 | €12,756 | = | 0.0% |
| Furniture and vehicles | 24 | €53,038 | €78,110 | +€25,072 | +47.3% |
| Current assets | 29/58 | €30,442 | €45,652 | +€15,210 | +50.0% |
| Amounts receivable within one year | 40/41 | €15,499 | €28,527 | +€13,028 | +84.1% |
| Trade receivables | 40 | €8,874 | €11,113 | +€2,239 | +25.2% |
| Other amounts receivable | 41 | €6,625 | €17,415 | +€10,789 | +163% |
| Cash at bank and in hand | 54/58 | €13,501 | €16,201 | +€2,700 | +20.0% |
| Deferred charges and accrued income | 490/1 | €1,441 | €923 | -€517 | -35.9% |
| Total equity and liabilities | 10/49 | €134,505 | €165,787 | +€31,282 | +23.3% |
| Equity | 10/15 | €15,883 | €16,288 | +€404 | +2.5% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €13,483 | €13,888 | +€404 | +3.0% |
| Distributable reserves | 133 | €13,483 | €13,888 | +€404 | +3.0% |
| Amounts payable | 17/49 | €118,621 | €149,499 | +€30,878 | +26.0% |
| Amounts payable after more than one year | 17 | €104,050 | €108,752 | +€4,702 | +4.5% |
| Financial debts | 170/4 | - | €54,702 | +€54,702 | |
| Other amounts payable | 178/9 | €104,050 | €54,050 | -€50,000 | -48.1% |
| Amounts payable within one year | 42/48 | €14,571 | €40,747 | +€26,176 | +180% |
| Current portion of amounts payable after more than one year | 42 | - | €15,433 | +€15,433 | |
| Trade debts | 44 | €1,824 | €7,928 | +€6,104 | +335% |
| Suppliers | 440/4 | €1,824 | €7,928 | +€6,104 | +335% |
| Taxes, remuneration and social security | 45 | €12,748 | €11,176 | -€1,572 | -12.3% |
| Taxes | 450/3 | €6,783 | €6,910 | +€127 | +1.9% |
| Remuneration and social security | 454/9 | €5,964 | €4,266 | -€1,698 | -28.5% |
| Other amounts payable | 47/48 | - | €6,211 | +€6,211 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,937 | €13,378 | -€9,559 | -41.7% |
| Other operating charges | 640/8 | €986 | €1,125 | +€139 | +14.1% |
| Gross operating margin | 9900 | €40,934 | €18,070 | -€22,864 | -55.9% |
| Operating profit (loss) | 9901 | €17,011 | €3,567 | -€13,444 | -79.0% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €104 | €2,142 | +€2,039 | +1,965% |
| Recurring financial charges | 65 | €104 | €2,142 | +€2,039 | +1,965% |
| Profit (loss) for the period before taxes | 9903 | €16,911 | €1,425 | -€15,486 | -91.6% |
| Income taxes | 67/77 | €3,428 | €1,021 | -€2,407 | -70.2% |
| Profit (loss) for the period | 9904 | €13,483 | €404 | -€13,079 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,483 | €404 | -€13,079 | -97.0% |
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 13 October 2026 via checked.be.