GLADIATOR: 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.
GLADIATOR
Largest movements
- Financial fixed assets +€3.2m
up €3.2m (+148%), from €2.2m to €5.4m
- Revaluation surpluses +€3.3m
up €3.3m (+341%), from €960,925 to €4.2m
- Profit (loss) carried forward -€82,510
down €82,510 (-22.6%), from €365,418 to €282,908
- Other debts +€61,854
up €61,854 (+16.9%), from €365,147 to €427,000
- Financial income -€187,950
down €187,950 (-34.9%), from €537,950 to €350,000
- Gross operating margin -€2,887
down €2,887 (-148%), from -€1,955 to -€4,842
- Taxes -€2,085
no longer reported in 2025 (was €2,085)
- Depreciation -€814
no longer reported in 2025 (was €814)
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 | €2,196,910 | €5,447,548 | +€3.3m | +148% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €2,196,583 | €5,442,131 | +€3.2m | +148% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €3,153 | - | -€3,153 | |
| Land and buildings | 22 | €1,053 | - | -€1,053 | |
| Furniture and vehicles | 24 | €2,100 | - | -€2,100 | |
| Financial fixed assets | 28 | €2,193,430 | €5,442,131 | +€3.2m | +148% |
| Current assets | 29/58 | €327 | €5,416 | +€5,090 | +1,558% |
| Amounts receivable within one year | 40/41 | €241 | - | -€241 | |
| Other amounts receivable | 41 | €241 | - | -€241 | |
| Cash at bank and in hand | 54/58 | €85 | €5,416 | +€5,331 | +6,256% |
| Total equity and liabilities | 10/49 | €2,196,910 | €5,447,548 | +€3.3m | +148% |
| Equity | 10/15 | €1,821,948 | €5,018,138 | +€3.2m | +175% |
| Contributions | 10/11 | €395,605 | €395,605 | = | 0.0% |
| Revaluation surpluses | 12 | €960,925 | €4,239,625 | +€3.3m | +341% |
| Reserves | 13 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €365,418 | €282,908 | -€82,510 | -22.6% |
| Amounts payable | 17/49 | €374,962 | €429,410 | +€54,448 | +14.5% |
| Amounts payable within one year | 42/48 | €368,013 | €429,410 | +€61,397 | +16.7% |
| Trade debts | 44 | €781 | €2,360 | +€1,579 | +202% |
| Suppliers | 440/4 | €118 | €2,360 | +€2,242 | +1,905% |
| Bills of exchange payable | 441 | €663 | - | -€663 | |
| Taxes, remuneration and social security | 45 | €2,085 | €50 | -€2,035 | -97.6% |
| Taxes | 450/3 | €2,085 | €50 | -€2,035 | -97.6% |
| Other amounts payable | 47/48 | €365,147 | €427,000 | +€61,854 | +16.9% |
| Accrued charges and deferred income | 492/3 | €6,949 | €0 | -€6,949 | -100% |
| Non-recurring operating income | 76A | - | €1 | +€1 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €814 | - | -€814 | |
| Non-recurring operating charges | 66A | - | €577 | +€577 | |
| Gross operating margin | 9900 | -€1,955 | -€4,842 | -€2,887 | -148% |
| Operating profit (loss) | 9901 | -€2,769 | -€5,419 | -€2,651 | -95.7% |
| Financial income | 75/76B | €537,950 | €350,000 | -€187,950 | -34.9% |
| Recurring financial income | 75 | €537,950 | €350,000 | -€187,950 | -34.9% |
| Financial charges | 65/66B | €91 | €91 | -€0 | -0.2% |
| Recurring financial charges | 65 | €91 | €91 | -€0 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €535,090 | €344,490 | -€190,600 | -35.6% |
| Income taxes | 67/77 | €2,085 | - | -€2,085 | |
| Profit (loss) for the period | 9904 | €533,005 | €344,490 | -€188,515 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €533,005 | €344,490 | -€188,515 | -35.4% |
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 15 October 2026 via checked.be.