GULBERG 1: 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.
GULBERG 1
Largest movements
- Stocks and contracts -€11,235
down €11,235 (-14.8%), from €76,115 to €64,880
- Receivables within one year -€1,186
down €1,186 (-68.0%), from €1,744 to €558
- Trade debts -€24,359
down €24,359 (-21.6%), from €112,579 to €88,220
- Profit (loss) carried forward +€17,127
up €17,127 (+16.5%), from -€103,720 to -€86,593
- Other debts -€5,142
down €5,142 (-8.0%), from €64,316 to €59,174
- Purchases and services +€36,840
up €36,840 (+56.8%), from €64,864 to €101,704
- Gross operating margin +€26,733
up €26,733, from -€8,476 to €18,257
- Turnover +€2,220
up €2,220 (+3.9%), from €56,388 to €58,608
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 | €79,375 | €67,001 | -€12,374 | -15.6% |
| Current assets | 29/58 | €79,375 | €67,001 | -€12,374 | -15.6% |
| Stocks and contracts in progress | 3 | €76,115 | €64,880 | -€11,235 | -14.8% |
| Stocks | 30/36 | €76,115 | €64,880 | -€11,235 | -14.8% |
| Amounts receivable within one year | 40/41 | €1,744 | €558 | -€1,186 | -68.0% |
| Other amounts receivable | 41 | €1,744 | €558 | -€1,186 | -68.0% |
| Cash at bank and in hand | 54/58 | €1,516 | €1,563 | +€47 | +3.1% |
| Total equity and liabilities | 10/49 | €79,375 | €67,001 | -€12,374 | -15.6% |
| Equity | 10/15 | -€97,520 | -€80,393 | +€17,127 | +17.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Profit (loss) carried forward | 14 | -€103,720 | -€86,593 | +€17,127 | +16.5% |
| Amounts payable | 17/49 | €176,895 | €147,394 | -€29,501 | -16.7% |
| Amounts payable within one year | 42/48 | €176,895 | €147,394 | -€29,501 | -16.7% |
| Trade debts | 44 | €112,579 | €88,220 | -€24,359 | -21.6% |
| Suppliers | 440/4 | €112,579 | €88,220 | -€24,359 | -21.6% |
| Other amounts payable | 47/48 | €64,316 | €59,174 | -€5,142 | -8.0% |
| Turnover | 70 | €56,388 | €58,608 | +€2,220 | +3.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €64,864 | €101,704 | +€36,840 | +56.8% |
| Other operating charges | 640/8 | €163 | €706 | +€543 | +333% |
| Gross operating margin | 9900 | -€8,476 | €18,257 | +€26,733 | |
| Operating profit (loss) | 9901 | -€8,639 | €17,551 | +€26,190 | |
| Financial charges | 65/66B | €445 | €424 | -€21 | -4.7% |
| Recurring financial charges | 65 | €445 | €424 | -€21 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | -€9,084 | €17,127 | +€26,211 | |
| Profit (loss) for the period | 9904 | -€9,084 | €17,127 | +€26,211 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,084 | €17,127 | +€26,211 |
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 22 October 2026 via checked.be.