G.D.C.: 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.C.
Largest movements
- Tangible fixed assets -€32,048
down €32,048 (-3.7%), from €862,408 to €830,361
of which Land and buildings: -€29,743
- Receivables within one year -€24,378
down €24,378 (-31.7%), from €77,020 to €52,642
of which Other amounts receivable: -€21,191
- Debts after one year -€34,611
down €34,611 (-5.5%), from €629,839 to €595,228
- Reserves -€29,507
down €29,507 (-9.5%), from €309,753 to €280,246
of which Distributable reserves: -€29,507
- Current portion of long-term debt -€25,101
down €25,101 (-28.5%), from €88,176 to €63,074
- Tax, wage and social debts +€22,224
up €22,224 (+131%), from €16,998 to €39,222
of which Taxes: +€24,399
- Short-term financial debts +€20,766
up €20,766 (+138%), from €15,000 to €35,766
- Gross operating margin +€48,602
up €48,602 (+16.0%), from €304,120 to €352,722
- Staff costs -€26,329
down €26,329 (-17.9%), from €147,122 to €120,792
- Taxes +€19,198
up €19,198 (+78.0%), from €24,614 to €43,813
- Depreciation +€12,510
up €12,510 (+20.0%), from €62,644 to €75,154
- Other operating charges +€8,539
up €8,539 (+211%), from €4,045 to €12,584
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 | €1,168,149 | €1,108,670 | -€59,479 | -5.1% |
| Fixed assets | 21/28 | €862,408 | €830,361 | -€32,048 | -3.7% |
| Tangible fixed assets | 22/27 | €862,408 | €830,361 | -€32,048 | -3.7% |
| Land and buildings | 22 | €741,501 | €711,757 | -€29,743 | -4.0% |
| Plant, machinery and equipment | 23 | €4,452 | €17,047 | +€12,595 | +283% |
| Furniture and vehicles | 24 | €116,456 | €101,557 | -€14,899 | -12.8% |
| Current assets | 29/58 | €305,741 | €278,309 | -€27,432 | -9.0% |
| Amounts receivable after more than one year | 29 | €220,000 | €220,000 | = | 0.0% |
| Other amounts receivable | 291 | €220,000 | €220,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €77,020 | €52,642 | -€24,378 | -31.7% |
| Trade receivables | 40 | €18,711 | €15,524 | -€3,187 | -17.0% |
| Other amounts receivable | 41 | €58,309 | €37,118 | -€21,191 | -36.3% |
| Cash at bank and in hand | 54/58 | €8,465 | €4,315 | -€4,150 | -49.0% |
| Deferred charges and accrued income | 490/1 | €256 | €1,353 | +€1,096 | +428% |
| Total equity and liabilities | 10/49 | €1,168,149 | €1,108,670 | -€59,479 | -5.1% |
| Equity | 10/15 | €381,483 | €352,009 | -€29,474 | -7.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €309,753 | €280,246 | -€29,507 | -9.5% |
| Tax-exempt reserves | 132 | €408 | €408 | = | 0.0% |
| Distributable reserves | 133 | €309,346 | €279,839 | -€29,507 | -9.5% |
| Profit (loss) carried forward | 14 | €53,180 | €53,212 | +€33 | +0.1% |
| Amounts payable | 17/49 | €786,666 | €756,661 | -€30,005 | -3.8% |
| Amounts payable after more than one year | 17 | €629,839 | €595,228 | -€34,611 | -5.5% |
| Financial debts | 170/4 | €629,839 | €595,228 | -€34,611 | -5.5% |
| Amounts payable within one year | 42/48 | €156,827 | €161,433 | +€4,606 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €88,176 | €63,074 | -€25,101 | -28.5% |
| Financial debts | 43 | €15,000 | €35,766 | +€20,766 | +138% |
| Credit institutions | 430/8 | €15,000 | €35,766 | +€20,766 | +138% |
| Trade debts | 44 | €36,654 | €23,371 | -€13,282 | -36.2% |
| Suppliers | 440/4 | €36,654 | €23,371 | -€13,282 | -36.2% |
| Taxes, remuneration and social security | 45 | €16,998 | €39,222 | +€22,224 | +131% |
| Taxes | 450/3 | €6,129 | €30,528 | +€24,399 | +398% |
| Remuneration and social security | 454/9 | €10,868 | €8,694 | -€2,175 | -20.0% |
| Non-recurring operating income | 76A | €18,493 | €7,544 | -€10,949 | -59.2% |
| Remuneration, social security and pensions | 62 | €147,122 | €120,792 | -€26,329 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,644 | €75,154 | +€12,510 | +20.0% |
| Other operating charges | 640/8 | €4,045 | €12,584 | +€8,539 | +211% |
| Gross operating margin | 9900 | €304,120 | €352,722 | +€48,602 | +16.0% |
| Operating profit (loss) | 9901 | €90,309 | €144,192 | +€53,883 | +59.7% |
| Financial income | 75/76B | €4 | €20 | +€17 | +467% |
| Recurring financial income | 75 | €4 | €20 | +€17 | +467% |
| Financial charges | 65/66B | €21,801 | €28,867 | +€7,066 | +32.4% |
| Recurring financial charges | 65 | €21,801 | €28,867 | +€7,066 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | €68,512 | €115,345 | +€46,833 | +68.4% |
| Income taxes | 67/77 | €24,614 | €43,813 | +€19,198 | +78.0% |
| Profit (loss) for the period | 9904 | €43,898 | €71,533 | +€27,635 | +63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,898 | €71,533 | +€27,635 | +63.0% |
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 13 October 2026 via checked.be.