GILBO: 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.
GILBO
Largest movements
- Current investments +€453,928
up €453,928 (+29.2%), from €1.6m to €2.0m
- Cash -€85,271
down €85,271 (-5.1%), from €1.7m to €1.6m
mainly Current investments (-€453,928) and Contributions, distributions and other (-€207,109)
- Stocks and contracts -€60,983
down €60,983 (-15.3%), from €397,550 to €336,567
- Receivables within one year -€42,324
down €42,324 (-30.4%), from €139,134 to €96,810
of which Trade receivables: -€40,254
- Reserves +€291,211
up €291,211 (+8.2%), from €3.5m to €3.8m
of which Distributable reserves: +€291,211
- Trade debts -€46,765
down €46,765 (-43.8%), from €106,651 to €59,886
- Financial income +€80,128
up €80,128 (+123%), from €65,406 to €145,534
- Staff costs +€41,938
up €41,938 (+14.9%), from €280,570 to €322,508
- Taxes +€17,966
up €17,966 (+10.6%), from €169,991 to €187,958
- Gross operating margin +€14,163
up €14,163 (+1.6%), from €900,331 to €914,494
- Depreciation -€11,954
down €11,954 (-34.8%), from €34,324 to €22,370
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 | €3,846,901 | €4,103,067 | +€256,166 | +6.7% |
| Fixed assets | 21/28 | €73,982 | €64,799 | -€9,183 | -12.4% |
| Tangible fixed assets | 22/27 | €73,982 | €64,799 | -€9,183 | -12.4% |
| Land and buildings | 22 | - | €7,750 | +€7,750 | |
| Plant, machinery and equipment | 23 | €9,220 | €7,222 | -€1,998 | -21.7% |
| Furniture and vehicles | 24 | €64,762 | €49,827 | -€14,935 | -23.1% |
| Current assets | 29/58 | €3,772,919 | €4,038,268 | +€265,349 | +7.0% |
| Stocks and contracts in progress | 3 | €397,550 | €336,567 | -€60,983 | -15.3% |
| Stocks | 30/36 | €397,550 | €336,567 | -€60,983 | -15.3% |
| Amounts receivable within one year | 40/41 | €139,134 | €96,810 | -€42,324 | -30.4% |
| Trade receivables | 40 | €136,179 | €95,926 | -€40,254 | -29.6% |
| Other amounts receivable | 41 | €2,955 | €885 | -€2,070 | -70.1% |
| Current investments | 50/53 | €1,555,368 | €2,009,295 | +€453,928 | +29.2% |
| Cash at bank and in hand | 54/58 | €1,680,867 | €1,595,596 | -€85,271 | -5.1% |
| Total equity and liabilities | 10/49 | €3,846,901 | €4,103,067 | +€256,166 | +6.7% |
| Equity | 10/15 | €3,551,717 | €3,842,928 | +€291,211 | +8.2% |
| Contributions | 10/11 | €16,868 | €16,868 | = | 0.0% |
| Reserves | 13 | €3,534,850 | €3,826,061 | +€291,211 | +8.2% |
| Non-distributable reserves | 130/1 | €1,687 | €1,687 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,687 | €1,687 | = | 0.0% |
| Tax-exempt reserves | 132 | €669 | €669 | = | 0.0% |
| Distributable reserves | 133 | €3,532,494 | €3,823,705 | +€291,211 | +8.2% |
| Amounts payable | 17/49 | €295,183 | €260,139 | -€35,045 | -11.9% |
| Amounts payable within one year | 42/48 | €277,183 | €259,239 | -€17,945 | -6.5% |
| Trade debts | 44 | €106,651 | €59,886 | -€46,765 | -43.8% |
| Suppliers | 440/4 | €106,651 | €59,886 | -€46,765 | -43.8% |
| Taxes, remuneration and social security | 45 | €70,532 | €64,265 | -€6,267 | -8.9% |
| Taxes | 450/3 | €50,151 | €37,680 | -€12,472 | -24.9% |
| Remuneration and social security | 454/9 | €20,381 | €26,585 | +€6,204 | +30.4% |
| Other amounts payable | 47/48 | €100,000 | €135,087 | +€35,087 | +35.1% |
| Accrued charges and deferred income | 492/3 | €18,000 | €900 | -€17,100 | -95.0% |
| Remuneration, social security and pensions | 62 | €280,570 | €322,508 | +€41,938 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,324 | €22,370 | -€11,954 | -34.8% |
| Other operating charges | 640/8 | €16,826 | €16,593 | -€234 | -1.4% |
| Gross operating margin | 9900 | €900,331 | €914,494 | +€14,163 | +1.6% |
| Operating profit (loss) | 9901 | €568,610 | €553,024 | -€15,587 | -2.7% |
| Financial income | 75/76B | €65,406 | €145,534 | +€80,128 | +123% |
| Recurring financial income | 75 | €65,406 | €145,534 | +€80,128 | +123% |
| Financial charges | 65/66B | €10,313 | €12,281 | +€1,968 | +19.1% |
| Recurring financial charges | 65 | €10,313 | €12,281 | +€1,968 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €623,704 | €686,277 | +€62,573 | +10.0% |
| Income taxes | 67/77 | €169,991 | €187,958 | +€17,966 | +10.6% |
| Profit (loss) for the period | 9904 | €453,713 | €498,320 | +€44,607 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €453,713 | €498,320 | +€44,607 | +9.8% |
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 14 October 2026 via checked.be.