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.
What changed
GILBO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €1.5m-€384,651
Equity
€22.1m
2024 · €21.4m+€654,886
Cash
€408,973
2024 · €541,333-€132,360
Balance sheet total
€33.2m
2024 · €33.6m-€395,594
Largest movements
Assets
- Current investments -€2.0m
down €2.0m (-100.0%), from €2.0m to €0
- Tangible fixed assets +€1.4m
up €1.4m (+4.7%), from €29.5m to €30.9m
of which Assets under construction and advance payments: +€1.0m
- Receivables within one year +€377,669
up €377,669 (+126.1%), from €299,382 to €677,051
of which Trade receivables: +€329,620
Equity and liabilities
- Debts after one year -€1.4m
down €1.4m (-17.6%), from €8.1m to €6.7m
of which Financial debts: -€1.4m
- Profit (loss) carried forward +€754,520
up €754,520 (+14.5%), from €5.2m to €5.9m
- Trade debts +€500,040
up €500,040 (+153.6%), from €325,582 to €825,622
Income statement
- Other operating income +€683,079
up €683,079 (+2347.0%), from €29,105 to €712,184
- Services and other goods +€589,372
up €589,372 (+145.0%), from €406,542 to €995,914
- Turnover -€523,126
down €523,126 (-13.4%), from €3.9m to €3.4m
- Financial income -€228,461
down €228,461 (-79.7%), from €286,496 to €58,035
of which Non-recurring financial income: -€165,000
- Taxes -€197,138
down €197,138 (-34.1%), from €577,590 to €380,452
of which Taxes: -€155,888
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.
Result 2024
€1.5m
Turnover
-€523,126
Other operating income
+€683,079
Services and other goods
-€589,372
Depreciation
-€47,996
Write-downs
+€60,276
Other operating charges
-€19,466
Other operating items
-€1,166
Financial income
-€228,461
Financial charges
+€84,437
Taxes
+€197,138
Deferred taxes and other
+€6
Result 2025
€1.2m
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.
From operations
+€2.3m
Investment
-€507,838
Financing
-€2.0m
Cash 2024
€541,333
From operations (derived)
+€2.3m
Net result for the year
+€1.2m
Depreciation
+€1.1m
Receivables within one year
-€377,669
Deferred charges and accrued income
+€19,310
Provisions
-€33,038
Trade debts
+€500,040
Tax, wage and social debts
-€31,587
Accrued charges and deferred income
-€33,989
Investment (derived)
-€507,838
Investment in fixed assets (net)
-€2.5m
Current investments
+€2.0m
Financing
-€2.0m
Debts after one year
-€1.4m
Current portion of long-term debt
-€27,500
Contributions, distributions and other
-€500,000
Cash 2025
€408,973
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,620,606 | €33,225,012 | -€395,594 | -1.2% |
| Fixed assets | 21/28 | €30,616,263 | €31,994,670 | +€1.4m | +4.5% |
| Tangible fixed assets | 22/27 | €29,516,263 | €30,894,670 | +€1.4m | +4.7% |
| Furniture and vehicles | 24 | - | €1,272 | +€1,272 | |
| Other tangible fixed assets | 26 | €28,645,067 | €28,988,429 | +€343,362 | +1.2% |
| Assets under construction and advance payments | 27 | €871,197 | €1,904,970 | +€1.0m | +118.7% |
| Financial fixed assets | 28 | €1,100,000 | €1,100,000 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €1,100,000 | €1,100,000 | = | 0.0% |
| Participating interests | 282 | €1,100,000 | €1,100,000 | = | 0.0% |
| Current assets | 29/58 | €3,004,343 | €1,230,342 | -€1.8m | -59.0% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €299,382 | €677,051 | +€377,669 | +126.1% |
| Trade receivables | 40 | €299,382 | €629,001 | +€329,620 | +110.1% |
| Other amounts receivable | 41 | - | €48,049 | +€48,049 | |
| Current investments | 50/53 | €2,000,000 | €0 | -€2.0m | -100.0% |
| Other investments | 51/53 | €2,000,000 | €0 | -€2.0m | -100.0% |
| Cash at bank and in hand | 54/58 | €541,333 | €408,973 | -€132,360 | -24.5% |
| Deferred charges and accrued income | 490/1 | €163,629 | €144,319 | -€19,310 | -11.8% |
| Total equity and liabilities | 10/49 | €33,620,606 | €33,225,012 | -€395,594 | -1.2% |
| Equity | 10/15 | €21,398,094 | €22,052,980 | +€654,886 | +3.1% |
| Contributions | 10/11 | €211,816 | €211,816 | = | 0.0% |
| Capital | 10 | €211,816 | €211,816 | = | 0.0% |
| Issued capital | 100 | €211,816 | €211,816 | = | 0.0% |
| Reserves | 13 | €15,996,619 | €15,896,985 | -€99,634 | -0.6% |
| Non-distributable reserves | 130/1 | €21,182 | €21,182 | = | 0.0% |
| Legal reserve | 130 | €21,182 | €21,182 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,634,610 | €2,534,977 | -€99,634 | -3.8% |
| Distributable reserves | 133 | €13,340,827 | €13,340,827 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,189,660 | €5,944,180 | +€754,520 | +14.5% |
| Provisions and deferred taxes | 16 | €878,203 | €845,165 | -€33,038 | -3.8% |
| Deferred taxes | 168 | €878,203 | €845,165 | -€33,038 | -3.8% |
| Amounts payable | 17/49 | €11,344,309 | €10,326,867 | -€1.0m | -9.0% |
| Amounts payable after more than one year | 17 | €8,098,202 | €6,673,796 | -€1.4m | -17.6% |
| Financial debts | 170/4 | €8,011,444 | €6,567,993 | -€1.4m | -18.0% |
| Credit institutions | 173 | €8,011,444 | €6,567,993 | -€1.4m | -18.0% |
| Other amounts payable | 178/9 | €86,758 | €105,803 | +€19,045 | +22.0% |
| Amounts payable within one year | 42/48 | €2,502,026 | €2,942,979 | +€440,954 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €1,470,951 | €1,443,451 | -€27,500 | -1.9% |
| Trade debts | 44 | €325,582 | €825,622 | +€500,040 | +153.6% |
| Suppliers | 440/4 | €325,582 | €825,622 | +€500,040 | +153.6% |
| Taxes, remuneration and social security | 45 | €205,493 | €173,906 | -€31,587 | -15.4% |
| Taxes | 450/3 | €205,493 | €173,906 | -€31,587 | -15.4% |
| Other amounts payable | 47/48 | €500,000 | €500,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €744,081 | €710,092 | -€33,989 | -4.6% |
| Operating income | 70/76A | €3,929,896 | €4,088,683 | +€158,787 | +4.0% |
| Turnover | 70 | €3,899,626 | €3,376,500 | -€523,126 | -13.4% |
| Other operating income | 74 | €29,105 | €712,184 | +€683,079 | +2347.0% |
| Non-recurring operating income | 76A | €1,166 | €0 | -€1,166 | -100.0% |
| Operating charges | 60/66A | €1,876,992 | €2,473,550 | +€596,558 | +31.8% |
| Services and other goods | 61 | €406,542 | €995,914 | +€589,372 | +145.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,081,435 | €1,129,431 | +€47,996 | +4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €74,886 | €14,610 | -€60,276 | -80.5% |
| Other operating charges | 640/8 | €314,128 | €333,594 | +€19,466 | +6.2% |
| Operating profit (loss) | 9901 | €2,052,904 | €1,615,134 | -€437,771 | -21.3% |
| Financial income | 75/76B | €286,496 | €58,035 | -€228,461 | -79.7% |
| Recurring financial income | 75 | €121,496 | €58,035 | -€63,461 | -52.2% |
| Income from current assets | 751 | €121,496 | €56,608 | -€64,888 | -53.4% |
| Other financial income | 752/9 | - | €1,427 | +€1,427 | |
| Non-recurring financial income | 76B | €165,000 | €0 | -€165,000 | -100.0% |
| Financial charges | 65/66B | €255,307 | €170,870 | -€84,437 | -33.1% |
| Recurring financial charges | 65 | €168,307 | €120,697 | -€47,609 | -28.3% |
| Debt charges | 650 | €165,783 | €118,934 | -€46,849 | -28.3% |
| Other financial charges | 652/9 | €2,524 | €1,763 | -€760 | -30.1% |
| Non-recurring financial charges | 66B | €87,000 | €50,173 | -€36,827 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €2,084,094 | €1,502,299 | -€581,795 | -27.9% |
| Transfer from deferred taxes | 780 | €33,033 | €33,038 | +€6 | 0.0% |
| Income taxes | 67/77 | €577,590 | €380,452 | -€197,138 | -34.1% |
| Taxes | 670/3 | €577,590 | €421,702 | -€155,888 | -27.0% |
| Tax adjustments and reversals of tax provisions | 77 | - | €41,250 | +€41,250 | |
| Profit (loss) for the period | 9904 | €1,539,537 | €1,154,886 | -€384,651 | -25.0% |
| Transfer from tax-exempt reserves | 789 | €99,099 | €99,634 | +€535 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,638,636 | €1,254,520 | -€384,116 | -23.4% |
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 12 October 2026 via checked.be.