G.D.C.-TRADING: 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.-TRADING
Largest movements
- Cash -€52,912
down €52,912 (-47.5%), from €111,446 to €58,534
mainly Other debts (-€95,000) and Investment in fixed assets (net) (-€40,003)
- Tangible fixed assets +€3,519
up €3,519 (+2.5%), from €142,830 to €146,349
of which Other tangible fixed assets: +€23,292
- Other debts -€95,000
down €95,000 (-65.5%), from €145,086 to €50,086
- Reserves +€56,871
up €56,871 (+177%), from €32,068 to €88,939
of which Distributable reserves: +€56,871
- Debts after one year -€10,202
down €10,202 (-38.7%), from €26,371 to €16,169
- Depreciation +€4,546
up €4,546 (+14.2%), from €31,938 to €36,484
- Taxes +€4,361
up €4,361 (+23.5%), from €18,542 to €22,903
- Gross operating margin -€3,939
down €3,939 (-3.1%), from €125,306 to €121,366
- Other operating charges +€2,563
up €2,563 (+355%), from €721 to €3,284
- Financial charges -€2,507
down €2,507 (-57.9%), from €4,331 to €1,824
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 | €300,798 | €252,718 | -€48,081 | -16.0% |
| Fixed assets | 21/28 | €142,830 | €146,350 | +€3,519 | +2.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | 0.0% |
| Tangible fixed assets | 22/27 | €142,830 | €146,349 | +€3,519 | +2.5% |
| Plant, machinery and equipment | 23 | €2,149 | €7,039 | +€4,890 | +228% |
| Furniture and vehicles | 24 | €84,056 | €59,393 | -€24,663 | -29.3% |
| Other tangible fixed assets | 26 | €56,626 | €79,917 | +€23,292 | +41.1% |
| Current assets | 29/58 | €157,968 | €106,368 | -€51,600 | -32.7% |
| Stocks and contracts in progress | 3 | €35,309 | €35,309 | = | 0.0% |
| Stocks | 30/36 | €35,309 | €35,309 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,545 | €11,857 | +€1,312 | +12.4% |
| Trade receivables | 40 | €9,183 | €9,183 | = | 0.0% |
| Other amounts receivable | 41 | €1,362 | €2,674 | +€1,312 | +96.3% |
| Cash at bank and in hand | 54/58 | €111,446 | €58,534 | -€52,912 | -47.5% |
| Deferred charges and accrued income | 490/1 | €668 | €668 | = | 0.0% |
| Total equity and liabilities | 10/49 | €300,798 | €252,718 | -€48,081 | -16.0% |
| Equity | 10/15 | €79,964 | €136,835 | +€56,871 | +71.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €32,068 | €88,939 | +€56,871 | +177% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €30,208 | €87,079 | +€56,871 | +188% |
| Profit (loss) carried forward | 14 | €35,496 | €35,496 | = | 0.0% |
| Amounts payable | 17/49 | €220,835 | €115,883 | -€104,952 | -47.5% |
| Amounts payable after more than one year | 17 | €26,371 | €16,169 | -€10,202 | -38.7% |
| Financial debts | 170/4 | €26,371 | €16,169 | -€10,202 | -38.7% |
| Amounts payable within one year | 42/48 | €194,463 | €99,714 | -€94,749 | -48.7% |
| Current portion of amounts payable after more than one year | 42 | €9,855 | €10,202 | +€347 | +3.5% |
| Trade debts | 44 | €5,634 | €6,838 | +€1,204 | +21.4% |
| Suppliers | 440/4 | €5,634 | €6,838 | +€1,204 | +21.4% |
| Taxes, remuneration and social security | 45 | €33,888 | €32,588 | -€1,300 | -3.8% |
| Taxes | 450/3 | €25,839 | €21,615 | -€4,223 | -16.3% |
| Remuneration and social security | 454/9 | €8,050 | €10,973 | +€2,923 | +36.3% |
| Other amounts payable | 47/48 | €145,086 | €50,086 | -€95,000 | -65.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,938 | €36,484 | +€4,546 | +14.2% |
| Other operating charges | 640/8 | €721 | €3,284 | +€2,563 | +355% |
| Gross operating margin | 9900 | €125,306 | €121,366 | -€3,939 | -3.1% |
| Operating profit (loss) | 9901 | €92,646 | €81,598 | -€11,048 | -11.9% |
| Financial income | 75/76B | €172 | €0 | -€172 | -100.0% |
| Recurring financial income | 75 | €172 | €0 | -€172 | -100.0% |
| Financial charges | 65/66B | €4,331 | €1,824 | -€2,507 | -57.9% |
| Recurring financial charges | 65 | €4,331 | €1,824 | -€2,507 | -57.9% |
| Profit (loss) for the period before taxes | 9903 | €88,487 | €79,774 | -€8,713 | -9.8% |
| Income taxes | 67/77 | €18,542 | €22,903 | +€4,361 | +23.5% |
| Profit (loss) for the period | 9904 | €69,946 | €56,871 | -€13,075 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €69,946 | €56,871 | -€13,075 | -18.7% |
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 26 October 2026 via checked.be.