GOBOR: 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.
GOBOR
Largest movements
- Tangible fixed assets +€191,508
up €191,508 (+41.9%), from €456,668 to €648,176
of which Land and buildings: +€431,730
- Cash -€114,954
down €114,954 (-80.1%), from €143,474 to €28,520
mainly Investment in fixed assets (net) (-€204,531) and Trade debts (-€4,064)
- Profit (loss) carried forward +€34,066
up €34,066 (+20.4%), from €166,684 to €200,750
- Current portion of long-term debt +€22,280
new in 2025: €22,280
- Debts after one year +€20,052
up €20,052 (+5.1%), from €396,696 to €416,748
- Gross operating margin -€22,287
down €22,287 (-22.9%), from €97,294 to €75,007
- Depreciation +€9,937
up €9,937 (+322%), from €3,086 to €13,024
- Taxes -€9,193
down €9,193 (-52.9%), from €17,367 to €8,174
- Financial charges +€7,098
up €7,098 (+58.7%), from €12,084 to €19,182
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 | €600,142 | €678,917 | +€78,775 | +13.1% |
| Fixed assets | 21/28 | €456,668 | €648,176 | +€191,508 | +41.9% |
| Tangible fixed assets | 22/27 | €456,668 | €648,176 | +€191,508 | +41.9% |
| Land and buildings | 22 | €177,721 | €609,451 | +€431,730 | +243% |
| Plant, machinery and equipment | 23 | - | €5,276 | +€5,276 | |
| Furniture and vehicles | 24 | €1,253 | €33,449 | +€32,196 | +2,570% |
| Assets under construction and advance payments | 27 | €277,694 | - | -€277,694 | |
| Current assets | 29/58 | €143,474 | €30,741 | -€112,733 | -78.6% |
| Cash at bank and in hand | 54/58 | €143,474 | €28,520 | -€114,954 | -80.1% |
| Deferred charges and accrued income | 490/1 | - | €2,221 | +€2,221 | |
| Total equity and liabilities | 10/49 | €600,142 | €678,917 | +€78,775 | +13.1% |
| Equity | 10/15 | €171,684 | €205,750 | +€34,066 | +19.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €166,684 | €200,750 | +€34,066 | +20.4% |
| Amounts payable | 17/49 | €428,458 | €473,166 | +€44,709 | +10.4% |
| Amounts payable after more than one year | 17 | €396,696 | €416,748 | +€20,052 | +5.1% |
| Financial debts | 170/4 | €396,696 | €416,748 | +€20,052 | +5.1% |
| Amounts payable within one year | 42/48 | €31,761 | €56,418 | +€24,657 | +77.6% |
| Current portion of amounts payable after more than one year | 42 | - | €22,280 | +€22,280 | |
| Trade debts | 44 | €4,064 | - | -€4,064 | |
| Suppliers | 440/4 | €4,064 | - | -€4,064 | |
| Taxes, remuneration and social security | 45 | €27,315 | €33,489 | +€6,174 | +22.6% |
| Taxes | 450/3 | €27,315 | €33,489 | +€6,174 | +22.6% |
| Other amounts payable | 47/48 | €383 | €650 | +€267 | +69.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,086 | €13,024 | +€9,937 | +322% |
| Other operating charges | 640/8 | €387 | €562 | +€174 | +45.0% |
| Gross operating margin | 9900 | €97,294 | €75,007 | -€22,287 | -22.9% |
| Operating profit (loss) | 9901 | €93,821 | €61,421 | -€32,399 | -34.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €12,084 | €19,182 | +€7,098 | +58.7% |
| Recurring financial charges | 65 | €12,084 | €19,182 | +€7,098 | +58.7% |
| Profit (loss) for the period before taxes | 9903 | €81,737 | €42,240 | -€39,497 | -48.3% |
| Income taxes | 67/77 | €17,367 | €8,174 | -€9,193 | -52.9% |
| Profit (loss) for the period | 9904 | €64,370 | €34,066 | -€30,304 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,370 | €34,066 | -€30,304 | -47.1% |
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 30 October 2026 via checked.be.