155Tb is one of the most interesting radionuclides for theranostic applications. It is suitable for SPECT imaging and it can be used as a true diagnostic partner of the therapeutic 149Tb and 161Tb. Its production by proton irradiation using enriched 155Gd and 156Gd oxide targets is currently being investigated and represents a promising solution. To achieve the level of radionuclidic purity required in the clinical setting, the co-production of Tb impurities has to be minimized. For this purpose, an accurate knowledge of the cross sections of the nuclear reactions involved is of paramount importance. In this paper, we report on the assessment of cross sections of the reactions 154Gd(p,xn)153,154,154m1,154m2Tb, 155Gd(p,xn)154,154m1,154m2,155Tb, 156Gd(p,xn)155,156Tb and 157Gd(p,2n)156Tb derived with a specific data analysis procedure developed by our group. This method allows to disentangle the nuclear contributions from the production cross section by inverting linear systems of equations and it requires the measurement of the cross sections from as many materials as the reactions involved in the production of the radionuclide under study. For this purpose, the experimental data previously measured by our group at the Bern medical cyclotron by irradiating natural Gd2O3, enriched 155Gd2O3 and enriched 156Gd2O3 targets were used. For some of these nuclear reactions, cross sections were assessed for the first time. On the basis of our findings, production yield and purity can be calculated for any kind of isotopic composition of the enriched material.