G.D.A. Systems: 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.A. Systems
Largest movements
- Cash +€1.1m
up €1.1m (+677%), from €167,849 to €1.3m
mainly Net result for the year (+€576,783) and Receivables within one year (+€209,740)
- Receivables within one year -€209,740
down €209,740 (-45.4%), from €461,513 to €251,773
of which Trade receivables: -€151,563
- Tangible fixed assets -€187,381
down €187,381 (-15.3%), from €1.2m to €1.0m
of which Plant, machinery and equipment: -€169,818
- Reserves +€570,000
up €570,000 (+232%), from €246,202 to €816,202
- Tax, wage and social debts +€170,684
up €170,684 (+129%), from €132,790 to €303,473
of which Taxes: +€171,282
- Debts after one year -€87,243
down €87,243 (-14.3%), from €609,431 to €522,189
- Trade debts +€71,169
up €71,169 (+495%), from €14,378 to €85,547
of which Suppliers: +€71,578
- Gross operating margin +€387,895
up €387,895 (+58.8%), from €659,290 to €1.0m
- Other operating charges -€249,975
down €249,975 (-96.9%), from €257,870 to €7,896
- Taxes +€218,684
up €218,684 (+395%), from €55,389 to €274,073
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 | €1,855,723 | €2,595,920 | +€740,197 | +39.9% |
| Fixed assets | 21/28 | €1,223,728 | €1,036,347 | -€187,381 | -15.3% |
| Tangible fixed assets | 22/27 | €1,222,699 | €1,035,318 | -€187,381 | -15.3% |
| Land and buildings | 22 | €695,338 | €700,839 | +€5,501 | +0.8% |
| Plant, machinery and equipment | 23 | €427,783 | €257,965 | -€169,818 | -39.7% |
| Furniture and vehicles | 24 | €99,577 | €76,513 | -€23,064 | -23.2% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,029 | €1,029 | = | 0.0% |
| Current assets | 29/58 | €631,995 | €1,559,573 | +€927,578 | +147% |
| Stocks and contracts in progress | 3 | €95 | €230 | +€135 | +142% |
| Stocks | 30/36 | €95 | €230 | +€135 | +142% |
| Amounts receivable within one year | 40/41 | €461,513 | €251,773 | -€209,740 | -45.4% |
| Trade receivables | 40 | €366,630 | €215,067 | -€151,563 | -41.3% |
| Other amounts receivable | 41 | €94,883 | €36,706 | -€58,176 | -61.3% |
| Cash at bank and in hand | 54/58 | €167,849 | €1,303,968 | +€1.1m | +677% |
| Deferred charges and accrued income | 490/1 | €2,538 | €3,601 | +€1,064 | +41.9% |
| Total equity and liabilities | 10/49 | €1,855,723 | €2,595,920 | +€740,197 | +39.9% |
| Equity | 10/15 | €867,248 | €1,444,031 | +€576,783 | +66.5% |
| Contributions | 10/11 | €424,637 | €424,637 | = | 0.0% |
| Reserves | 13 | €246,202 | €816,202 | +€570,000 | +232% |
| Distributable reserves | 133 | €246,202 | €816,202 | +€570,000 | +232% |
| Profit (loss) carried forward | 14 | €196,409 | €203,192 | +€6,783 | +3.5% |
| Amounts payable | 17/49 | €988,475 | €1,151,889 | +€163,414 | +16.5% |
| Amounts payable after more than one year | 17 | €609,431 | €522,189 | -€87,243 | -14.3% |
| Financial debts | 170/4 | €609,431 | €522,189 | -€87,243 | -14.3% |
| Amounts payable within one year | 42/48 | €377,793 | €628,843 | +€251,049 | +66.5% |
| Current portion of amounts payable after more than one year | 42 | €112,413 | €101,940 | -€10,473 | -9.3% |
| Financial debts | 43 | €4,413 | - | -€4,413 | |
| Credit institutions | 430/8 | €4,413 | - | -€4,413 | |
| Trade debts | 44 | €14,378 | €85,547 | +€71,169 | +495% |
| Suppliers | 440/4 | €13,969 | €85,547 | +€71,578 | +512% |
| Bills of exchange payable | 441 | €409 | - | -€409 | |
| Taxes, remuneration and social security | 45 | €132,790 | €303,473 | +€170,684 | +129% |
| Taxes | 450/3 | €130,740 | €302,022 | +€171,282 | +131% |
| Remuneration and social security | 454/9 | €2,049 | €1,452 | -€598 | -29.2% |
| Other amounts payable | 47/48 | €113,798 | €137,882 | +€24,084 | +21.2% |
| Accrued charges and deferred income | 492/3 | €1,250 | €858 | -€393 | -31.4% |
| Non-recurring operating income | 76A | €1,041 | €960,623 | +€959,582 | +92,165% |
| Remuneration, social security and pensions | 62 | €27,175 | €17,510 | -€9,665 | -35.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,198 | €131,574 | -€9,625 | -6.8% |
| Other operating charges | 640/8 | €257,870 | €7,896 | -€249,975 | -96.9% |
| Non-recurring operating charges | 66A | €2,232 | €18,394 | +€16,162 | +724% |
| Gross operating margin | 9900 | €659,290 | €1,047,185 | +€387,895 | +58.8% |
| Operating profit (loss) | 9901 | €230,814 | €871,812 | +€640,998 | +278% |
| Financial income | 75/76B | €341 | €316 | -€25 | -7.4% |
| Recurring financial income | 75 | €341 | €316 | -€25 | -7.4% |
| Financial charges | 65/66B | €22,956 | €21,272 | -€1,684 | -7.3% |
| Recurring financial charges | 65 | €22,956 | €21,272 | -€1,684 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €208,199 | €850,856 | +€642,656 | +309% |
| Income taxes | 67/77 | €55,389 | €274,073 | +€218,684 | +395% |
| Profit (loss) for the period | 9904 | €152,810 | €576,783 | +€423,973 | +277% |
| Profit (loss) for the period to be appropriated | 9905 | €152,810 | €576,783 | +€423,973 | +277% |
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 21 October 2026 via checked.be.