G&D ELEC: 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 ELEC
Largest movements
- Receivables within one year -€48,105
down €48,105 (-58.8%), from €81,832 to €33,727
of which Trade receivables: -€43,556
- Tangible fixed assets -€29,427
down €29,427 (-9.5%), from €308,726 to €279,299
of which Furniture and vehicles: -€21,627
- Cash -€21,581
down €21,581 (-42.4%), from €50,876 to €29,295
mainly Trade debts (-€59,502) and Debts after one year (-€27,752)
- Trade debts -€59,502
down €59,502 (-97.9%), from €60,796 to €1,293
- Debts after one year -€27,752
down €27,752 (-15.6%), from €177,634 to €149,882
- Tax, wage and social debts -€5,329
down €5,329 (-23.6%), from €22,574 to €17,244
- Depreciation +€26,633
up €26,633 (+355%), from €7,494 to €34,127
- Gross operating margin -€25,132
down €25,132 (-33.7%), from €74,591 to €49,459
- Taxes -€14,047
down €14,047 (-93.0%), from €15,104 to €1,057
- Financial charges +€1,820
up €1,820 (+36.5%), from €4,981 to €6,801
- Other operating charges -€1,738
down €1,738 (-17.4%), from €9,997 to €8,259
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 | €441,433 | €342,320 | -€99,113 | -22.5% |
| Fixed assets | 21/28 | €308,726 | €279,299 | -€29,427 | -9.5% |
| Tangible fixed assets | 22/27 | €308,726 | €279,299 | -€29,427 | -9.5% |
| Land and buildings | 22 | €109,700 | €101,900 | -€7,800 | -7.1% |
| Furniture and vehicles | 24 | €108,026 | €86,399 | -€21,627 | -20.0% |
| Assets under construction and advance payments | 27 | €91,000 | €91,000 | = | 0.0% |
| Current assets | 29/58 | €132,707 | €63,022 | -€69,686 | -52.5% |
| Amounts receivable within one year | 40/41 | €81,832 | €33,727 | -€48,105 | -58.8% |
| Trade receivables | 40 | €74,547 | €30,991 | -€43,556 | -58.4% |
| Other amounts receivable | 41 | €7,285 | €2,736 | -€4,549 | -62.4% |
| Cash at bank and in hand | 54/58 | €50,876 | €29,295 | -€21,581 | -42.4% |
| Total equity and liabilities | 10/49 | €441,433 | €342,320 | -€99,113 | -22.5% |
| Equity | 10/15 | €136,515 | €134,692 | -€1,823 | -1.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €124,860 | €124,860 | = | 0.0% |
| Distributable reserves | 133 | €124,860 | €124,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,455 | €3,632 | -€1,823 | -33.4% |
| Amounts payable | 17/49 | €304,918 | €207,628 | -€97,290 | -31.9% |
| Amounts payable after more than one year | 17 | €177,634 | €149,882 | -€27,752 | -15.6% |
| Financial debts | 170/4 | €177,634 | €149,882 | -€27,752 | -15.6% |
| Amounts payable within one year | 42/48 | €127,284 | €57,746 | -€69,538 | -54.6% |
| Current portion of amounts payable after more than one year | 42 | €29,741 | €27,752 | -€1,989 | -6.7% |
| Trade debts | 44 | €60,796 | €1,293 | -€59,502 | -97.9% |
| Suppliers | 440/4 | €60,796 | €1,293 | -€59,502 | -97.9% |
| Taxes, remuneration and social security | 45 | €22,574 | €17,244 | -€5,329 | -23.6% |
| Taxes | 450/3 | €22,574 | €17,244 | -€5,329 | -23.6% |
| Other amounts payable | 47/48 | €14,174 | €11,457 | -€2,717 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,494 | €34,127 | +€26,633 | +355% |
| Other operating charges | 640/8 | €9,997 | €8,259 | -€1,738 | -17.4% |
| Non-recurring operating charges | 66A | - | €1,196 | +€1,196 | |
| Gross operating margin | 9900 | €74,591 | €49,459 | -€25,132 | -33.7% |
| Operating profit (loss) | 9901 | €57,100 | €5,877 | -€51,223 | -89.7% |
| Financial income | 75/76B | €102 | €158 | +€56 | +55.3% |
| Recurring financial income | 75 | €102 | €158 | +€56 | +55.3% |
| Financial charges | 65/66B | €4,981 | €6,801 | +€1,820 | +36.5% |
| Recurring financial charges | 65 | €4,981 | €6,801 | +€1,820 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €52,221 | -€766 | -€52,987 | |
| Income taxes | 67/77 | €15,104 | €1,057 | -€14,047 | -93.0% |
| Profit (loss) for the period | 9904 | €37,116 | -€1,823 | -€38,939 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,116 | -€1,823 | -€38,939 |
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 23 October 2026 via checked.be.