What changed?
Two fiscal 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.
G.B.D. LIGHTING
Largest movements
- Stocks and contracts +€17,390
up €17,390 (+6.2%), from €278,541 to €295,931
- Cash -€16,787
down €16,787 (-77.1%), from €21,777 to €4,990
mainly Stocks and contracts (-€17,390) and Tax, wage and social debts (-€2,638)
- Other debts +€5,000
up €5,000 (+2.9%), from €171,000 to €176,000
- Gross operating margin -€1,669
down €1,669, from €641 to -€1,028
- Financial charges +€92
up €92 (+111.6%), from €82 to €174
- Taxes -€47
no longer reported in 2025 (was €47)
- Other operating charges +€12
up €12 (+3.2%), from €387 to €400
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 | €339,865 | €340,626 | +€761 | +0.2% |
| Current assets | 29/58 | €339,865 | €340,626 | +€761 | +0.2% |
| Stocks and contracts in progress | 3 | €278,541 | €295,931 | +€17,390 | +6.2% |
| Stocks | 30/36 | €278,541 | €295,931 | +€17,390 | +6.2% |
| Amounts receivable within one year | 40/41 | €39,547 | €39,705 | +€158 | +0.4% |
| Trade receivables | 40 | €5,800 | €5,800 | = | 0.0% |
| Other amounts receivable | 41 | €33,747 | €33,905 | +€158 | +0.5% |
| Cash at bank and in hand | 54/58 | €21,777 | €4,990 | -€16,787 | -77.1% |
| Total equity and liabilities | 10/49 | €339,865 | €340,626 | +€761 | +0.2% |
| Equity | 10/15 | €166,227 | €164,626 | -€1,601 | -1.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €56,150 | €56,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,577 | €46,976 | -€1,601 | -3.3% |
| Amounts payable | 17/49 | €173,638 | €176,000 | +€2,362 | +1.4% |
| Amounts payable within one year | 42/48 | €173,638 | €176,000 | +€2,362 | +1.4% |
| Taxes, remuneration and social security | 45 | €2,638 | - | -€2,638 | |
| Taxes | 450/3 | €2,638 | - | -€2,638 | |
| Other amounts payable | 47/48 | €171,000 | €176,000 | +€5,000 | +2.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €641 | -€1,028 | -€1,669 | |
| Operating profit (loss) | 9901 | €254 | -€1,427 | -€1,681 | |
| Financial charges | 65/66B | €82 | €174 | +€92 | +111.6% |
| Recurring financial charges | 65 | €82 | €174 | +€92 | +111.6% |
| Profit (loss) for the period before taxes | 9903 | €172 | -€1,601 | -€1,773 | |
| Income taxes | 67/77 | €47 | - | -€47 | |
| Profit (loss) for the period | 9904 | €125 | -€1,601 | -€1,726 | |
| Profit (loss) for the period to be appropriated | 9905 | €125 | -€1,601 | -€1,726 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.