G.D. ENGINEERING: what changed
Two fiscal 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.
What changed
G.D. ENGINEERING
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€98,227
2024 · €334,299-€236,072
Equity
€3.3m
2024 · €3.2m+€98,227
Cash
€158,890
2024 · €81,790+€77,099
Balance sheet total
€6.3m
2024 · €6.5m-€211,591
Largest movements
Assets
- Tangible fixed assets -€219,471
down €219,471 (-8.1%), from €2.7m to €2.5m
- Cash +€77,099
up €77,099 (+94.3%), from €81,790 to €158,890
mainly Depreciation (+€219,471) and Other debts (+€106,301)
Equity and liabilities
- Debts after one year -€228,931
down €228,931 (-13.3%), from €1.7m to €1.5m
- Accrued charges and deferred income -€137,767
down €137,767 (-13.3%), from €1.0m to €898,627
- Trade debts -€123,205
down €123,205 (-74.2%), from €166,059 to €42,854
- Other debts +€106,301
new in 2025: €106,301
- Profit (loss) carried forward +€98,227
up €98,227 (+10.9%), from -€904,252 to -€806,026
Income statement
- Financial income -€130,730
down €130,730 (-46.1%), from €283,562 to €152,832
- Taxes -€121,900
down €121,900, from €115,658 to -€6,242
of which Taxes: -€115,658
- Services and other goods -€91,268
down €91,268 (-28.7%), from €318,033 to €226,765
- Financial charges -€24,753
down €24,753 (-36.6%), from €67,552 to €42,799
- Other operating income -€12,046
down €12,046 (-4.1%), from €291,998 to €279,952
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.
Result 2024
€334,299
Other operating income
-€12,046
Services and other goods
+€91,268
Staff costs
+€7,367
Other operating charges
-€648
Other operating items
+€1,138
Financial income
-€130,730
Financial charges
+€24,753
Taxes
+€121,900
Deferred taxes and other
-€339,074
Result 2025
€98,227
Cash bridge derived
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.
From operations
+€226,004
Investment
€0
Financing
-€148,905
Cash 2024
€81,790
From operations (derived)
+€226,004
Net result for the year
+€98,227
Depreciation
+€219,471
Receivables after one year
+€18,000
Receivables within one year
+€51,156
Deferred charges and accrued income
+€63
Trade debts
-€123,205
Tax, wage and social debts
-€6,242
Other debts
+€106,301
Accrued charges and deferred income
-€137,767
Financing
-€148,905
Debts after one year
-€228,931
Current portion of long-term debt
+€5,027
Short-term financial debts
+€75,000
Cash 2025
€158,890
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,475,536 | €6,263,945 | -€211,591 | -3.3% |
| Fixed assets | 21/28 | €5,766,298 | €5,546,827 | -€219,471 | -3.8% |
| Tangible fixed assets | 22/27 | €2,706,298 | €2,486,827 | -€219,471 | -8.1% |
| Leasing and similar rights | 25 | €2,706,298 | €2,486,827 | -€219,471 | -8.1% |
| Financial fixed assets | 28 | €3,060,000 | €3,060,000 | = | 0.0% |
| Affiliated companies | 280/1 | €3,060,000 | €3,060,000 | = | 0.0% |
| Participating interests | 280 | €2,460,000 | €2,460,000 | = | 0.0% |
| Amounts receivable | 281 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €709,237 | €717,117 | +€7,880 | +1.1% |
| Amounts receivable after more than one year | 29 | €108,000 | €90,000 | -€18,000 | -16.7% |
| Other amounts receivable | 291 | €108,000 | €90,000 | -€18,000 | -16.7% |
| Amounts receivable within one year | 40/41 | €519,011 | €467,856 | -€51,156 | -9.9% |
| Trade receivables | 40 | €30,351 | - | -€30,351 | |
| Other amounts receivable | 41 | €488,660 | €467,856 | -€20,805 | -4.3% |
| Cash at bank and in hand | 54/58 | €81,790 | €158,890 | +€77,099 | +94.3% |
| Deferred charges and accrued income | 490/1 | €436 | €372 | -€63 | -14.6% |
| Total equity and liabilities | 10/49 | €6,475,536 | €6,263,945 | -€211,591 | -3.3% |
| Equity | 10/15 | €3,197,219 | €3,295,446 | +€98,227 | +3.1% |
| Contributions | 10/11 | €2,950,000 | €2,950,000 | = | 0.0% |
| Capital | 10 | €2,950,000 | €2,950,000 | = | 0.0% |
| Issued capital | 100 | €2,950,000 | €2,950,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €151,472 | €151,472 | = | 0.0% |
| Non-distributable reserves | 130/1 | €143,583 | €143,583 | = | 0.0% |
| Legal reserve | 130 | €143,583 | €143,583 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,889 | €7,889 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€904,252 | -€806,026 | +€98,227 | +10.9% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €3,278,316 | €2,968,498 | -€309,818 | -9.5% |
| Amounts payable after more than one year | 17 | €1,715,176 | €1,486,244 | -€228,931 | -13.3% |
| Financial debts | 170/4 | €1,715,176 | €1,486,244 | -€228,931 | -13.3% |
| Leasing and similar obligations | 172 | €1,715,176 | €1,486,244 | -€228,931 | -13.3% |
| Amounts payable within one year | 42/48 | €526,747 | €583,627 | +€56,880 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €223,905 | €228,931 | +€5,027 | +2.2% |
| Financial debts | 43 | - | €75,000 | +€75,000 | |
| Credit institutions | 430/8 | - | €75,000 | +€75,000 | |
| Trade debts | 44 | €166,059 | €42,854 | -€123,205 | -74.2% |
| Suppliers | 440/4 | €166,059 | €42,854 | -€123,205 | -74.2% |
| Taxes, remuneration and social security | 45 | €136,783 | €130,541 | -€6,242 | -4.6% |
| Taxes | 450/3 | €136,783 | €130,541 | -€6,242 | -4.6% |
| Other amounts payable | 47/48 | - | €106,301 | +€106,301 | |
| Accrued charges and deferred income | 492/3 | €1,036,394 | €898,627 | -€137,767 | -13.3% |
| Operating income | 70/76A | €469,184 | €457,138 | -€12,046 | -2.6% |
| Turnover | 70 | €39,000 | €39,000 | = | 0.0% |
| Other operating income | 74 | €291,998 | €279,952 | -€12,046 | -4.1% |
| Non-recurring operating income | 76A | €138,186 | €138,186 | = | 0.0% |
| Operating charges | 60/66A | €574,312 | €475,187 | -€99,125 | -17.3% |
| Services and other goods | 61 | €318,033 | €226,765 | -€91,268 | -28.7% |
| Remuneration, social security and pensions | 62 | €7,367 | - | -€7,367 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €219,471 | €219,471 | = | 0.0% |
| Other operating charges | 640/8 | €28,302 | €28,950 | +€648 | +2.3% |
| Non-recurring operating charges | 66A | €1,138 | - | -€1,138 | |
| Operating profit (loss) | 9901 | -€105,128 | -€18,049 | +€87,079 | +82.8% |
| Financial income | 75/76B | €283,562 | €152,832 | -€130,730 | -46.1% |
| Recurring financial income | 75 | €283,562 | €152,832 | -€130,730 | -46.1% |
| Income from financial fixed assets | 750 | €247,918 | €114,042 | -€133,876 | -54.0% |
| Income from current assets | 751 | €35,633 | €38,791 | +€3,158 | +8.9% |
| Other financial income | 752/9 | €12 | - | -€12 | |
| Financial charges | 65/66B | €67,552 | €42,799 | -€24,753 | -36.6% |
| Recurring financial charges | 65 | €67,552 | €42,799 | -€24,753 | -36.6% |
| Debt charges | 650 | €45,326 | €41,069 | -€4,257 | -9.4% |
| Other financial charges | 652/9 | €22,226 | €1,730 | -€20,496 | -92.2% |
| Profit (loss) for the period before taxes | 9903 | €110,883 | €91,985 | -€18,898 | -17.0% |
| Transfer from deferred taxes | 780 | €339,074 | - | -€339,074 | |
| Income taxes | 67/77 | €115,658 | -€6,242 | -€121,900 | |
| Taxes | 670/3 | €115,658 | - | -€115,658 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €6,242 | +€6,242 | |
| Profit (loss) for the period | 9904 | €334,299 | €98,227 | -€236,072 | -70.6% |
| Transfer from tax-exempt reserves | 789 | €1,017,223 | - | -€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,351,522 | €98,227 | -€1.3m | -92.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.