GOBEL: 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.
GOBEL
Largest movements
- Receivables within one year +€71,262
up €71,262 (+148.5%), from €47,992 to €119,254
of which Other amounts receivable: +€82,027
- Financial fixed assets +€10,000
up €10,000 (+8.0%), from €125,500 to €135,500
- Receivables after one year -€10,000
down €10,000 (-50.0%), from €20,000 to €10,000
- Cash +€3,124
up €3,124 (+24.0%), from €13,026 to €16,150
mainly Net result for the year (+€70,281) and Other debts (+€41,181)
- Reserves +€53,088
up €53,088 (+50.8%), from €104,402 to €157,490
of which Distributable reserves: +€53,088
- Other debts +€41,181
up €41,181 (+5844.7%), from €705 to €41,885
- Debts after one year -€11,910
down €11,910 (-27.4%), from €43,469 to €31,559
- Trade debts -€11,300
down €11,300 (-59.2%), from €19,077 to €7,777
- Financial income +€41,538
up €41,538 (+9714.1%), from €428 to €41,965
- Gross operating margin +€8,100
up €8,100 (+16.4%), from €49,286 to €57,387
- Taxes +€6,973
up €6,973 (+47.8%), from €14,598 to €21,571
- Depreciation -€805
down €805 (-29.2%), from €2,759 to €1,954
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 | €214,239 | €286,747 | +€72,508 | +33.8% |
| Fixed assets | 21/28 | €130,690 | €138,736 | +€8,046 | +6.2% |
| Tangible fixed assets | 22/27 | €5,190 | €3,236 | -€1,954 | -37.6% |
| Furniture and vehicles | 24 | €5,190 | €3,236 | -€1,954 | -37.6% |
| Financial fixed assets | 28 | €125,500 | €135,500 | +€10,000 | +8.0% |
| Current assets | 29/58 | €83,549 | €148,011 | +€64,461 | +77.2% |
| Amounts receivable after more than one year | 29 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Other amounts receivable | 291 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €47,992 | €119,254 | +€71,262 | +148.5% |
| Trade receivables | 40 | €47,992 | €37,227 | -€10,765 | -22.4% |
| Other amounts receivable | 41 | - | €82,027 | +€82,027 | |
| Cash at bank and in hand | 54/58 | €13,026 | €16,150 | +€3,124 | +24.0% |
| Deferred charges and accrued income | 490/1 | €2,532 | €2,607 | +€76 | +3.0% |
| Total equity and liabilities | 10/49 | €214,239 | €286,747 | +€72,508 | +33.8% |
| Equity | 10/15 | €116,802 | €169,890 | +€53,088 | +45.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €104,402 | €157,490 | +€53,088 | +50.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €102,542 | €155,630 | +€53,088 | +51.8% |
| Amounts payable | 17/49 | €97,437 | €116,857 | +€19,420 | +19.9% |
| Amounts payable after more than one year | 17 | €43,469 | €31,559 | -€11,910 | -27.4% |
| Financial debts | 170/4 | €43,469 | €31,559 | -€11,910 | -27.4% |
| Amounts payable within one year | 42/48 | €53,969 | €85,299 | +€31,330 | +58.1% |
| Current portion of amounts payable after more than one year | 42 | €11,743 | €11,910 | +€167 | +1.4% |
| Financial debts | 43 | €4,772 | €4,731 | -€41 | -0.9% |
| Credit institutions | 430/8 | €4,772 | €4,731 | -€41 | -0.9% |
| Trade debts | 44 | €19,077 | €7,777 | -€11,300 | -59.2% |
| Suppliers | 440/4 | €19,077 | €7,777 | -€11,300 | -59.2% |
| Taxes, remuneration and social security | 45 | €17,672 | €18,996 | +€1,324 | +7.5% |
| Taxes | 450/3 | €17,672 | €18,996 | +€1,324 | +7.5% |
| Other amounts payable | 47/48 | €705 | €41,885 | +€41,181 | +5844.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,759 | €1,954 | -€805 | -29.2% |
| Other operating charges | 640/8 | €1,704 | €1,642 | -€62 | -3.6% |
| Gross operating margin | 9900 | €49,286 | €57,387 | +€8,100 | +16.4% |
| Operating profit (loss) | 9901 | €44,823 | €53,790 | +€8,967 | +20.0% |
| Financial income | 75/76B | €428 | €41,965 | +€41,538 | +9714.1% |
| Recurring financial income | 75 | €428 | €41,965 | +€41,538 | +9714.1% |
| Financial charges | 65/66B | €4,178 | €3,903 | -€275 | -6.6% |
| Recurring financial charges | 65 | €4,178 | €3,903 | -€275 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €41,073 | €91,852 | +€50,779 | +123.6% |
| Income taxes | 67/77 | €14,598 | €21,571 | +€6,973 | +47.8% |
| Profit (loss) for the period | 9904 | €26,475 | €70,281 | +€43,806 | +165.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,475 | €70,281 | +€43,806 | +165.5% |
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.