G.D.: 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.
G.D.
Largest movements
- Receivables within one year +€12,482
up €12,482 (+35.8%), from €34,819 to €47,301
- Cash +€4,527
up €4,527 (+62.8%), from €7,208 to €11,735
mainly Net result for the year (+€18,803) and Depreciation (+€1,457)
- Tangible fixed assets -€1,457
down €1,457 (-7.4%), from €19,619 to €18,161
of which Plant, machinery and equipment: -€1,457
- Profit (loss) carried forward +€18,803
up €18,803 (+30.7%), from -€61,339 to -€42,537
- Debts after one year -€3,668
down €3,668 (-7.3%), from €50,237 to €46,569
of which Financial debts: -€3,668
- Depreciation -€7,927
down €7,927 (-84.5%), from €9,384 to €1,457
- Gross operating margin +€2,703
up €2,703 (+13.1%), from €20,670 to €23,373
- Financial income +€705
up €705 (+34.2%), from €2,062 to €2,768
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 | €101,483 | €117,133 | +€15,649 | +15.4% |
| Fixed assets | 21/28 | €19,697 | €18,239 | -€1,457 | -7.4% |
| Tangible fixed assets | 22/27 | €19,619 | €18,161 | -€1,457 | -7.4% |
| Land and buildings | 22 | €16,113 | €16,113 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,506 | €2,048 | -€1,457 | -41.6% |
| Financial fixed assets | 28 | €78 | €78 | = | 0.0% |
| Current assets | 29/58 | €81,787 | €98,893 | +€17,107 | +20.9% |
| Amounts receivable after more than one year | 29 | €35,357 | €35,357 | = | 0.0% |
| Other amounts receivable | 291 | €35,357 | €35,357 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €34,819 | €47,301 | +€12,482 | +35.8% |
| Other amounts receivable | 41 | €34,819 | €47,301 | +€12,482 | +35.8% |
| Cash at bank and in hand | 54/58 | €7,208 | €11,735 | +€4,527 | +62.8% |
| Deferred charges and accrued income | 490/1 | €4,402 | €4,500 | +€98 | +2.2% |
| Total equity and liabilities | 10/49 | €101,483 | €117,133 | +€15,649 | +15.4% |
| Equity | 10/15 | €44,668 | €63,470 | +€18,803 | +42.1% |
| Contributions | 10/11 | €97,446 | €97,446 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Contributions outside capital | 11 | €23,078 | €23,078 | = | 0.0% |
| Share premium | 1100/10 | €23,078 | €23,078 | = | 0.0% |
| Reserves | 13 | €8,561 | €8,561 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,620 | €1,620 | = | 0.0% |
| Legal reserve | 130 | €1,620 | €1,620 | = | 0.0% |
| Distributable reserves | 133 | €6,941 | €6,941 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,339 | -€42,537 | +€18,803 | +30.7% |
| Amounts payable | 17/49 | €56,816 | €53,662 | -€3,153 | -5.6% |
| Amounts payable after more than one year | 17 | €50,237 | €46,569 | -€3,668 | -7.3% |
| Financial debts | 170/4 | €45,855 | €42,187 | -€3,668 | -8.0% |
| Other amounts payable | 178/9 | €4,382 | €4,382 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,578 | €7,093 | +€515 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €3,261 | €3,668 | +€407 | +12.5% |
| Trade debts | 44 | €3,146 | €3,245 | +€99 | +3.1% |
| Suppliers | 440/4 | €3,146 | €3,245 | +€99 | +3.1% |
| Taxes, remuneration and social security | 45 | €171 | €180 | +€9 | +5.3% |
| Taxes | 450/3 | €171 | €180 | +€9 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,384 | €1,457 | -€7,927 | -84.5% |
| Other operating charges | 640/8 | €3,688 | €3,825 | +€137 | +3.7% |
| Gross operating margin | 9900 | €20,670 | €23,373 | +€2,703 | +13.1% |
| Operating profit (loss) | 9901 | €7,598 | €18,091 | +€10,493 | +138% |
| Financial income | 75/76B | €2,062 | €2,768 | +€705 | +34.2% |
| Recurring financial income | 75 | €2,062 | €2,768 | +€705 | +34.2% |
| Financial charges | 65/66B | €1,747 | €1,876 | +€129 | +7.4% |
| Recurring financial charges | 65 | €1,747 | €1,876 | +€129 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €7,913 | €18,982 | +€11,069 | +140% |
| Income taxes | 67/77 | €171 | €180 | +€9 | +5.3% |
| Profit (loss) for the period | 9904 | €7,743 | €18,803 | +€11,060 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €7,743 | €18,803 | +€11,060 | +143% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.