ELECTRO GDB: 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.
ELECTRO GDB
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-33.4%), from €3.2m to €2.2m
of which Trade receivables: -€1.0m
- Cash +€105,009
up €105,009 (+30.8%), from €340,635 to €445,644
mainly Receivables within one year (+€1.1m) and Net result for the year (+€624,166)
- Trade debts -€994,740
down €994,740 (-45.9%), from €2.2m to €1.2m
- Advances received -€195,654
down €195,654 (-79.6%), from €245,654 to €50,000
- Other debts +€180,000
up €180,000 (+40.9%), from €440,000 to €620,000
- Accrued charges and deferred income -€47,747
down €47,747 (-95.2%), from €50,166 to €2,419
- Gross operating margin +€372,830
up €372,830 (+24.7%), from €1.5m to €1.9m
- Staff costs +€211,610
up €211,610 (+24.7%), from €856,127 to €1.1m
- Taxes +€63,862
up €63,862 (+38.1%), from €167,514 to €231,376
- Other operating charges -€47,968
down €47,968 (-71.7%), from €66,862 to €18,894
- Write-downs -€32,575
down €32,575 (-48.3%), from -€67,425 to -€100,000
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 | €4,733,274 | €3,688,807 | -€1.0m | -22.1% |
| Fixed assets | 21/28 | €831,572 | €804,328 | -€27,244 | -3.3% |
| Tangible fixed assets | 22/27 | €769,097 | €741,853 | -€27,244 | -3.5% |
| Land and buildings | 22 | €766,685 | €741,853 | -€24,832 | -3.2% |
| Furniture and vehicles | 24 | €2,412 | - | -€2,412 | |
| Financial fixed assets | 28 | €62,475 | €62,475 | = | 0.0% |
| Current assets | 29/58 | €3,901,702 | €2,884,479 | -€1.0m | -26.1% |
| Stocks and contracts in progress | 3 | €313,374 | €266,238 | -€47,136 | -15.0% |
| Stocks | 30/36 | €57,562 | €50,447 | -€7,115 | -12.4% |
| Contracts in progress | 37 | €255,812 | €215,791 | -€40,021 | -15.6% |
| Amounts receivable within one year | 40/41 | €3,231,681 | €2,152,304 | -€1.1m | -33.4% |
| Trade receivables | 40 | €3,037,686 | €2,031,458 | -€1.0m | -33.1% |
| Other amounts receivable | 41 | €193,995 | €120,846 | -€73,149 | -37.7% |
| Cash at bank and in hand | 54/58 | €340,635 | €445,644 | +€105,009 | +30.8% |
| Deferred charges and accrued income | 490/1 | €16,012 | €20,293 | +€4,281 | +26.7% |
| Total equity and liabilities | 10/49 | €4,733,274 | €3,688,807 | -€1.0m | -22.1% |
| Equity | 10/15 | €1,645,762 | €1,649,928 | +€4,166 | +0.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,445,762 | €1,449,928 | +€4,166 | +0.3% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €1,425,762 | €1,429,928 | +€4,166 | +0.3% |
| Amounts payable | 17/49 | €3,087,512 | €2,038,879 | -€1.0m | -34.0% |
| Amounts payable within one year | 42/48 | €3,037,346 | €2,036,460 | -€1.0m | -33.0% |
| Trade debts | 44 | €2,165,146 | €1,170,406 | -€994,740 | -45.9% |
| Suppliers | 440/4 | €2,165,146 | €1,170,406 | -€994,740 | -45.9% |
| Advances received on contracts in progress | 46 | €245,654 | €50,000 | -€195,654 | -79.6% |
| Taxes, remuneration and social security | 45 | €186,546 | €196,054 | +€9,508 | +5.1% |
| Taxes | 450/3 | €78,878 | €68,162 | -€10,716 | -13.6% |
| Remuneration and social security | 454/9 | €107,668 | €127,892 | +€20,224 | +18.8% |
| Other amounts payable | 47/48 | €440,000 | €620,000 | +€180,000 | +40.9% |
| Accrued charges and deferred income | 492/3 | €50,166 | €2,419 | -€47,747 | -95.2% |
| Remuneration, social security and pensions | 62 | €856,127 | €1,067,737 | +€211,610 | +24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,533 | €24,832 | -€2,701 | -9.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€67,425 | -€100,000 | -€32,575 | -48.3% |
| Other operating charges | 640/8 | €66,862 | €18,894 | -€47,968 | -71.7% |
| Gross operating margin | 9900 | €1,510,372 | €1,883,202 | +€372,830 | +24.7% |
| Operating profit (loss) | 9901 | €627,275 | €871,739 | +€244,464 | +39.0% |
| Financial income | 75/76B | €4,578 | €4,370 | -€208 | -4.5% |
| Recurring financial income | 75 | €4,578 | €4,370 | -€208 | -4.5% |
| Financial charges | 65/66B | €22,661 | €20,567 | -€2,094 | -9.2% |
| Recurring financial charges | 65 | €22,661 | €20,567 | -€2,094 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €609,192 | €855,542 | +€246,350 | +40.4% |
| Income taxes | 67/77 | €167,514 | €231,376 | +€63,862 | +38.1% |
| Profit (loss) for the period | 9904 | €441,678 | €624,166 | +€182,488 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €441,678 | €624,166 | +€182,488 | +41.3% |
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 4 October 2026 via checked.be.