GURBACHAN: 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.
GURBACHAN
Largest movements
- Stocks and contracts -€18,833
down €18,833 (-62.7%), from €30,020 to €11,187
- Tangible fixed assets -€6,611
down €6,611 (-22.1%), from €29,878 to €23,266
- Debts after one year -€9,524
down €9,524 (-46.0%), from €20,698 to €11,175
- Profit (loss) carried forward -€8,787
down €8,787 (-60.4%), from €14,549 to €5,761
- Tax, wage and social debts -€5,212
down €5,212 (-81.7%), from €6,380 to €1,168
- Other debts -€1,980
down €1,980 (-31.9%), from €6,210 to €4,230
- Current portion of long-term debt +€702
up €702 (+8.0%), from €8,821 to €9,524
- Depreciation +€3,432
up €3,432 (+108%), from €3,179 to €6,611
- Gross operating margin -€2,217
down €2,217 (-47.9%), from €4,628 to €2,411
- Financial charges +€890
up €890 (+30.2%), from €2,945 to €3,835
- Taxes -€834
down €834 (-96.7%), from €863 to €29
- Other operating charges +€500
up €500 (+224%), from €223 to €723
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 | €62,093 | €36,653 | -€25,440 | -41.0% |
| Fixed assets | 21/28 | €29,878 | €23,266 | -€6,611 | -22.1% |
| Tangible fixed assets | 22/27 | €29,878 | €23,266 | -€6,611 | -22.1% |
| Leasing and similar rights | 25 | €29,878 | €23,266 | -€6,611 | -22.1% |
| Current assets | 29/58 | €32,215 | €13,387 | -€18,829 | -58.4% |
| Stocks and contracts in progress | 3 | €30,020 | €11,187 | -€18,833 | -62.7% |
| Stocks | 30/36 | €30,020 | €11,187 | -€18,833 | -62.7% |
| Amounts receivable within one year | 40/41 | €2,000 | €2,000 | = | 0.0% |
| Trade receivables | 40 | €2,000 | €2,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €195 | €199 | +€4 | +2.2% |
| Total equity and liabilities | 10/49 | €62,093 | €36,653 | -€25,440 | -41.0% |
| Equity | 10/15 | €15,049 | €6,261 | -€8,787 | -58.4% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,549 | €5,761 | -€8,787 | -60.4% |
| Amounts payable | 17/49 | €47,044 | €30,392 | -€16,652 | -35.4% |
| Amounts payable after more than one year | 17 | €20,698 | €11,175 | -€9,524 | -46.0% |
| Financial debts | 170/4 | €20,698 | €11,175 | -€9,524 | -46.0% |
| Amounts payable within one year | 42/48 | €26,346 | €19,217 | -€7,129 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €8,821 | €9,524 | +€702 | +8.0% |
| Financial debts | 43 | €4,689 | €4,295 | -€393 | -8.4% |
| Credit institutions | 430/8 | €4,689 | - | -€4,689 | |
| Other loans | 439 | - | €4,295 | +€4,295 | |
| Trade debts | 44 | €246 | - | -€246 | |
| Suppliers | 440/4 | €246 | - | -€246 | |
| Taxes, remuneration and social security | 45 | €6,380 | €1,168 | -€5,212 | -81.7% |
| Taxes | 450/3 | €6,380 | €1,168 | -€5,212 | -81.7% |
| Other amounts payable | 47/48 | €6,210 | €4,230 | -€1,980 | -31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,179 | €6,611 | +€3,432 | +108% |
| Other operating charges | 640/8 | €223 | €723 | +€500 | +224% |
| Gross operating margin | 9900 | €4,628 | €2,411 | -€2,217 | -47.9% |
| Operating profit (loss) | 9901 | €1,226 | -€4,924 | -€6,150 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,945 | €3,835 | +€890 | +30.2% |
| Recurring financial charges | 65 | €2,945 | €3,835 | +€890 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,718 | -€8,759 | -€7,040 | -410% |
| Income taxes | 67/77 | €863 | €29 | -€834 | -96.7% |
| Profit (loss) for the period | 9904 | -€2,581 | -€8,787 | -€6,206 | -240% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,581 | -€8,787 | -€6,206 | -240% |
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 26 October 2026 via checked.be.