GORGEBLEUE: 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.
GORGEBLEUE
Largest movements
- Tangible fixed assets -€31,580
down €31,580 (-3.9%), from €816,686 to €785,106
of which Land and buildings: -€32,559
- Receivables within one year +€23,232
up €23,232 (+216.9%), from €10,709 to €33,941
of which Trade receivables: +€23,232
- Debts after one year -€21,737
down €21,737 (-2.8%), from €765,347 to €743,610
of which Financial debts: -€36,667
- Trade debts +€15,379
up €15,379 (+171.9%), from €8,946 to €24,325
- Short-term financial debts -€10,955
down €10,955 (-70.9%), from €15,455 to €4,500
of which Credit institutions: -€5,955
- Taxes +€1,429
up €1,429 (+433.1%), from €330 to €1,759
- Gross operating margin -€1,271
down €1,271 (-2.6%), from €48,296 to €47,025
- Financial charges +€616
up €616 (+10.9%), from €5,671 to €6,287
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €842,478 | €832,445 | -€10,033 | -1.2% |
| Fixed assets | 21/28 | €821,711 | €785,131 | -€36,580 | -4.5% |
| Tangible fixed assets | 22/27 | €816,686 | €785,106 | -€31,580 | -3.9% |
| Land and buildings | 22 | €813,332 | €780,774 | -€32,559 | -4.0% |
| Furniture and vehicles | 24 | €3,354 | €856 | -€2,498 | -74.5% |
| Assets under construction and advance payments | 27 | - | €3,477 | +€3,477 | |
| Financial fixed assets | 28 | €5,025 | €25 | -€5,000 | -99.5% |
| Current assets | 29/58 | €20,767 | €47,314 | +€26,547 | +127.8% |
| Amounts receivable after more than one year | 29 | €3,500 | €1,500 | -€2,000 | -57.1% |
| Other amounts receivable | 291 | €3,500 | €1,500 | -€2,000 | -57.1% |
| Amounts receivable within one year | 40/41 | €10,709 | €33,941 | +€23,232 | +216.9% |
| Trade receivables | 40 | €10,709 | €33,941 | +€23,232 | +216.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,010 | €8,146 | +€2,136 | +35.5% |
| Deferred charges and accrued income | 490/1 | €549 | €3,728 | +€3,179 | +579.1% |
| Total equity and liabilities | 10/49 | €842,478 | €832,445 | -€10,033 | -1.2% |
| Equity | 10/15 | €13,011 | €12,309 | -€701 | -5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,933 | €7,933 | = | 0.0% |
| Distributable reserves | 133 | €7,933 | €7,933 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,522 | -€14,223 | -€701 | -5.2% |
| Amounts payable | 17/49 | €829,467 | €820,136 | -€9,331 | -1.1% |
| Amounts payable after more than one year | 17 | €765,347 | €743,610 | -€21,737 | -2.8% |
| Financial debts | 170/4 | €320,834 | €284,167 | -€36,667 | -11.4% |
| Other amounts payable | 178/9 | €444,513 | €459,443 | +€14,929 | +3.4% |
| Amounts payable within one year | 42/48 | €64,120 | €76,526 | +€12,406 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €36,667 | €36,667 | = | 0.0% |
| Financial debts | 43 | €15,455 | €4,500 | -€10,955 | -70.9% |
| Credit institutions | 430/8 | €10,455 | €4,500 | -€5,955 | -57.0% |
| Other loans | 439 | €5,000 | €0 | -€5,000 | -100.0% |
| Trade debts | 44 | €8,946 | €24,325 | +€15,379 | +171.9% |
| Suppliers | 440/4 | €8,946 | €24,325 | +€15,379 | +171.9% |
| Taxes, remuneration and social security | 45 | €3,052 | €11,034 | +€7,982 | +261.5% |
| Taxes | 450/3 | €3,052 | €11,034 | +€7,982 | +261.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,057 | €35,057 | = | 0.0% |
| Other operating charges | 640/8 | €5,081 | €4,786 | -€295 | -5.8% |
| Gross operating margin | 9900 | €48,296 | €47,025 | -€1,271 | -2.6% |
| Operating profit (loss) | 9901 | €8,158 | €7,182 | -€976 | -12.0% |
| Financial income | 75/76B | €1 | €162 | +€161 | +32296.0% |
| Recurring financial income | 75 | €1 | €162 | +€161 | +32296.0% |
| Financial charges | 65/66B | €5,671 | €6,287 | +€616 | +10.9% |
| Recurring financial charges | 65 | €5,671 | €6,287 | +€616 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €2,488 | €1,057 | -€1,431 | -57.5% |
| Income taxes | 67/77 | €330 | €1,759 | +€1,429 | +433.1% |
| Profit (loss) for the period | 9904 | €2,158 | -€701 | -€2,859 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,158 | -€701 | -€2,859 |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.