GUBBELMED: 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.
GUBBELMED
Largest movements
- Cash +€36,373
up €36,373 (+89.2%), from €40,786 to €77,159
mainly Net result for the year (+€34,785) and Tax, wage and social debts (+€4,359)
- Receivables within one year +€3,372
new in 2025: €3,372
of which Other amounts receivable: +€3,327
- Reserves +€34,785
up €34,785 (+303.1%), from €11,477 to €46,262
- Tax, wage and social debts +€4,359
up €4,359 (+73.1%), from €5,963 to €10,322
of which Taxes: +€6,679
- Financial charges -€37,480
down €37,480 (-68.6%), from €54,598 to €17,119
- Taxes +€6,679
up €6,679 (+183.4%), from €3,643 to €10,322
- Gross operating margin -€4,558
down €4,558 (-6.8%), from €67,273 to €62,715
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 | €65,813 | €105,747 | +€39,934 | +60.7% |
| Fixed assets | 21/28 | - | €906 | +€906 | |
| Tangible fixed assets | 22/27 | - | €906 | +€906 | |
| Furniture and vehicles | 24 | - | €906 | +€906 | |
| Current assets | 29/58 | €65,813 | €104,841 | +€39,028 | +59.3% |
| Amounts receivable within one year | 40/41 | - | €3,372 | +€3,372 | |
| Trade receivables | 40 | - | €45 | +€45 | |
| Other amounts receivable | 41 | - | €3,327 | +€3,327 | |
| Cash at bank and in hand | 54/58 | €40,786 | €77,159 | +€36,373 | +89.2% |
| Deferred charges and accrued income | 490/1 | €25,027 | €24,309 | -€717 | -2.9% |
| Total equity and liabilities | 10/49 | €65,813 | €105,747 | +€39,934 | +60.7% |
| Equity | 10/15 | €13,977 | €48,762 | +€34,785 | +248.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €11,477 | €46,262 | +€34,785 | +303.1% |
| Distributable reserves | 133 | €11,477 | €46,262 | +€34,785 | +303.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,836 | €56,985 | +€5,149 | +9.9% |
| Amounts payable within one year | 42/48 | €51,836 | €56,497 | +€4,661 | +9.0% |
| Trade debts | 44 | €518 | €0 | -€518 | -100.0% |
| Suppliers | 440/4 | €518 | €0 | -€518 | -100.0% |
| Taxes, remuneration and social security | 45 | €5,963 | €10,322 | +€4,359 | +73.1% |
| Taxes | 450/3 | €3,643 | €10,322 | +€6,679 | +183.4% |
| Remuneration and social security | 454/9 | €2,320 | €0 | -€2,320 | -100.0% |
| Other amounts payable | 47/48 | €45,355 | €46,175 | +€820 | +1.8% |
| Accrued charges and deferred income | 492/3 | - | €488 | +€488 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €22 | +€22 | |
| Other operating charges | 640/8 | €237 | €467 | +€231 | +97.4% |
| Gross operating margin | 9900 | €67,273 | €62,715 | -€4,558 | -6.8% |
| Operating profit (loss) | 9901 | €67,036 | €62,226 | -€4,810 | -7.2% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €54,598 | €17,119 | -€37,480 | -68.6% |
| Recurring financial charges | 65 | €54,598 | €17,119 | -€37,480 | -68.6% |
| Profit (loss) for the period before taxes | 9903 | €12,439 | €45,107 | +€32,669 | +262.6% |
| Income taxes | 67/77 | €3,643 | €10,322 | +€6,679 | +183.4% |
| Profit (loss) for the period | 9904 | €8,796 | €34,785 | +€25,989 | +295.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,796 | €34,785 | +€25,989 | +295.5% |
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 11 October 2026 via checked.be.