GUBLO: 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.
GUBLO
Largest movements
- Receivables within one year -€12,832
down €12,832 (-70.4%), from €18,229 to €5,396
of which Trade receivables: -€11,227
- Cash -€6,978
down €6,978 (-36.4%), from €19,195 to €12,217
mainly Investment in fixed assets (net) (-€7,295) and Tax, wage and social debts (-€5,983)
- Tangible fixed assets +€3,585
up €3,585 (+39.9%), from €8,994 to €12,578
of which Furniture and vehicles: +€5,315
- Deferred charges and accrued income +€2,000
up €2,000, from €0 to €2,000
- Tax, wage and social debts -€5,983
down €5,983 (-78.7%), from €7,600 to €1,617
- Trade debts -€5,330
down €5,330 (-49.2%), from €10,827 to €5,497
- Current portion of long-term debt -€2,555
down €2,555 (-100%), from €2,555 to €0
- Gross operating margin -€14,604
down €14,604 (-68.6%), from €21,301 to €6,698
- Taxes -€4,380
down €4,380 (-83.5%), from €5,247 to €867
- Depreciation -€2,677
down €2,677 (-41.9%), from €6,387 to €3,711
- Other operating charges -€1,096
down €1,096 (-48.6%), from €2,258 to €1,162
- Financial charges +€279
up €279 (+44.4%), from €628 to €907
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 | €46,418 | €32,192 | -€14,226 | -30.6% |
| Fixed assets | 21/28 | €8,994 | €12,578 | +€3,585 | +39.9% |
| Tangible fixed assets | 22/27 | €8,994 | €12,578 | +€3,585 | +39.9% |
| Land and buildings | 22 | €173 | €0 | -€173 | -100% |
| Plant, machinery and equipment | 23 | €4,375 | €2,818 | -€1,557 | -35.6% |
| Furniture and vehicles | 24 | €4,446 | €9,760 | +€5,315 | +120% |
| Current assets | 29/58 | €37,424 | €19,613 | -€17,811 | -47.6% |
| Amounts receivable within one year | 40/41 | €18,229 | €5,396 | -€12,832 | -70.4% |
| Trade receivables | 40 | €15,143 | €3,916 | -€11,227 | -74.1% |
| Other amounts receivable | 41 | €3,086 | €1,480 | -€1,606 | -52.0% |
| Cash at bank and in hand | 54/58 | €19,195 | €12,217 | -€6,978 | -36.4% |
| Deferred charges and accrued income | 490/1 | €0 | €2,000 | +€2,000 | |
| Total equity and liabilities | 10/49 | €46,418 | €32,192 | -€14,226 | -30.6% |
| Equity | 10/15 | €23,273 | €23,350 | +€77 | +0.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €21,273 | €21,350 | +€77 | +0.4% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €200 | €200 | = | 0.0% |
| Distributable reserves | 133 | €21,073 | €21,150 | +€77 | +0.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €23,145 | €8,841 | -€14,303 | -61.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €23,145 | €8,841 | -€14,303 | -61.8% |
| Current portion of amounts payable after more than one year | 42 | €2,555 | €0 | -€2,555 | -100% |
| Trade debts | 44 | €10,827 | €5,497 | -€5,330 | -49.2% |
| Suppliers | 440/4 | €10,827 | €5,497 | -€5,330 | -49.2% |
| Taxes, remuneration and social security | 45 | €7,600 | €1,617 | -€5,983 | -78.7% |
| Taxes | 450/3 | €7,600 | €1,617 | -€5,983 | -78.7% |
| Other amounts payable | 47/48 | €2,162 | €1,728 | -€435 | -20.1% |
| Remuneration, social security and pensions | 62 | €39 | €0 | -€39 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,387 | €3,711 | -€2,677 | -41.9% |
| Other operating charges | 640/8 | €2,258 | €1,162 | -€1,096 | -48.6% |
| Gross operating margin | 9900 | €21,301 | €6,698 | -€14,604 | -68.6% |
| Operating profit (loss) | 9901 | €12,617 | €1,825 | -€10,791 | -85.5% |
| Financial income | 75/76B | €0 | €25 | +€25 | +253,000% |
| Recurring financial income | 75 | €0 | €25 | +€25 | +253,000% |
| Financial charges | 65/66B | €628 | €907 | +€279 | +44.4% |
| Recurring financial charges | 65 | €628 | €907 | +€279 | +44.4% |
| Profit (loss) for the period before taxes | 9903 | €11,989 | €944 | -€11,045 | -92.1% |
| Income taxes | 67/77 | €5,247 | €867 | -€4,380 | -83.5% |
| Profit (loss) for the period | 9904 | €6,741 | €77 | -€6,665 | -98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,741 | €77 | -€6,665 | -98.9% |
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 17 October 2026 via checked.be.