PATRICK GABRIELS: 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.
PATRICK GABRIELS
Largest movements
- Receivables within one year -€21,616
down €21,616 (-24.9%), from €86,854 to €65,238
No liability line moved by more than 1% of the balance sheet total.
- Financial charges -€14,454
down €14,454 (-72.4%), from €19,959 to €5,504
- Financial income -€3,826
down €3,826 (-23.9%), from €16,002 to €12,176
- Gross operating margin -€2,333
down €2,333 (-25.2%), from -€9,258 to -€11,590
- Depreciation -€1,237
down €1,237 (-21.1%), from €5,870 to €4,633
- Taxes -€855
down €855 (-361.1%), from -€237 to -€1,092
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 | €1,399,647 | €1,374,130 | -€25,517 | -1.8% |
| Fixed assets | 21/28 | €9,800 | €5,167 | -€4,633 | -47.3% |
| Tangible fixed assets | 22/27 | €9,800 | €5,167 | -€4,633 | -47.3% |
| Land and buildings | 22 | €9,700 | €5,167 | -€4,533 | -46.7% |
| Furniture and vehicles | 24 | €100 | - | -€100 | |
| Current assets | 29/58 | €1,389,846 | €1,368,962 | -€20,884 | -1.5% |
| Amounts receivable within one year | 40/41 | €86,854 | €65,238 | -€21,616 | -24.9% |
| Other amounts receivable | 41 | €86,854 | €65,238 | -€21,616 | -24.9% |
| Current investments | 50/53 | €563,954 | €570,098 | +€6,144 | +1.1% |
| Cash at bank and in hand | 54/58 | €737,712 | €733,627 | -€4,085 | -0.6% |
| Deferred charges and accrued income | 490/1 | €1,326 | - | -€1,326 | |
| Total equity and liabilities | 10/49 | €1,399,647 | €1,374,130 | -€25,517 | -1.8% |
| Equity | 10/15 | €1,309,842 | €1,299,454 | -€10,388 | -0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,291,242 | €1,280,854 | -€10,388 | -0.8% |
| Distributable reserves | 133 | €1,291,242 | €1,280,854 | -€10,388 | -0.8% |
| Amounts payable | 17/49 | €89,805 | €74,676 | -€15,129 | -16.8% |
| Amounts payable within one year | 42/48 | €89,805 | €74,676 | -€15,129 | -16.8% |
| Trade debts | 44 | €4 | €2,307 | +€2,303 | +54181.6% |
| Suppliers | 440/4 | €4 | €2,307 | +€2,303 | +54181.6% |
| Taxes, remuneration and social security | 45 | €5,954 | €1,580 | -€4,374 | -73.5% |
| Taxes | 450/3 | €5,954 | €1,580 | -€4,374 | -73.5% |
| Other amounts payable | 47/48 | €83,847 | €70,789 | -€13,058 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,870 | €4,633 | -€1,237 | -21.1% |
| Other operating charges | 640/8 | €1,712 | €1,929 | +€217 | +12.7% |
| Gross operating margin | 9900 | -€9,258 | -€11,590 | -€2,333 | -25.2% |
| Operating profit (loss) | 9901 | -€16,840 | -€18,152 | -€1,313 | -7.8% |
| Financial income | 75/76B | €16,002 | €12,176 | -€3,826 | -23.9% |
| Recurring financial income | 75 | €16,002 | €12,176 | -€3,826 | -23.9% |
| Financial charges | 65/66B | €19,959 | €5,504 | -€14,454 | -72.4% |
| Recurring financial charges | 65 | €19,959 | €5,504 | -€14,454 | -72.4% |
| Profit (loss) for the period before taxes | 9903 | -€20,796 | -€11,480 | +€9,315 | +44.8% |
| Income taxes | 67/77 | -€237 | -€1,092 | -€855 | -361.1% |
| Profit (loss) for the period | 9904 | -€20,559 | -€10,388 | +€10,171 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,559 | -€10,388 | +€10,171 | +49.5% |
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 9 October 2026 via checked.be.