G.D.S.: 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.
G.D.S.
Largest movements
- Cash +€60,039
up €60,039 (+344.4%), from €17,431 to €77,470
mainly Net result for the year (+€53,648) and Depreciation (+€24,061)
- Tangible fixed assets -€22,958
down €22,958 (-6.0%), from €381,169 to €358,210
of which Furniture and vehicles: -€15,473
- Receivables within one year -€13,237
no longer reported in 2025 (was €13,237)
of which Other amounts receivable: -€8,761
- Reserves +€53,000
up €53,000 (+8.5%), from €621,099 to €674,099
of which Distributable reserves: +€53,000
- Debts after one year -€14,313
down €14,313 (-10.6%), from €135,070 to €120,757
- Financial income -€33,754
down €33,754 (-56.0%), from €60,223 to €26,469
of which Financial income: -€26,316
- Taxes -€4,651
down €4,651 (-20.5%), from €22,713 to €18,062
- Depreciation +€3,938
up €3,938 (+19.6%), from €20,123 to €24,061
- Financial charges -€3,004
down €3,004 (-29.4%), from €10,216 to €7,211
- Gross operating margin -€2,504
down €2,504 (-3.1%), from €80,268 to €77,764
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €915,620 | €940,469 | +€24,849 | +2.7% |
| Fixed assets | 21/28 | €883,370 | €860,489 | -€22,881 | -2.6% |
| Tangible fixed assets | 22/27 | €381,169 | €358,210 | -€22,958 | -6.0% |
| Land and buildings | 22 | €337,702 | €331,650 | -€6,052 | -1.8% |
| Plant, machinery and equipment | 23 | €4,314 | €2,881 | -€1,433 | -33.2% |
| Furniture and vehicles | 24 | €39,152 | €23,679 | -€15,473 | -39.5% |
| Financial fixed assets | 28 | €502,202 | €502,279 | +€77 | 0.0% |
| Current assets | 29/58 | €32,250 | €79,980 | +€47,730 | +148.0% |
| Amounts receivable within one year | 40/41 | €13,237 | - | -€13,237 | |
| Trade receivables | 40 | €4,476 | - | -€4,476 | |
| Other amounts receivable | 41 | €8,761 | - | -€8,761 | |
| Cash at bank and in hand | 54/58 | €17,431 | €77,470 | +€60,039 | +344.4% |
| Deferred charges and accrued income | 490/1 | €1,582 | €2,510 | +€928 | +58.7% |
| Total equity and liabilities | 10/49 | €915,620 | €940,469 | +€24,849 | +2.7% |
| Equity | 10/15 | €682,820 | €731,268 | +€48,448 | +7.1% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €621,099 | €674,099 | +€53,000 | +8.5% |
| Non-distributable reserves | 130/1 | €2,499 | €2,499 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,499 | €2,499 | = | 0.0% |
| Distributable reserves | 133 | €618,600 | €671,600 | +€53,000 | +8.6% |
| Profit (loss) carried forward | 14 | €36,932 | €32,379 | -€4,552 | -12.3% |
| Amounts payable | 17/49 | €232,801 | €209,202 | -€23,599 | -10.1% |
| Amounts payable after more than one year | 17 | €135,070 | €120,757 | -€14,313 | -10.6% |
| Financial debts | 170/4 | €135,070 | €120,757 | -€14,313 | -10.6% |
| Amounts payable within one year | 42/48 | €97,645 | €88,374 | -€9,272 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €14,159 | €14,313 | +€154 | +1.1% |
| Trade debts | 44 | €4,971 | €1,318 | -€3,653 | -73.5% |
| Suppliers | 440/4 | €4,971 | €1,318 | -€3,653 | -73.5% |
| Taxes, remuneration and social security | 45 | €5,706 | €3,898 | -€1,808 | -31.7% |
| Taxes | 450/3 | €5,706 | €3,898 | -€1,808 | -31.7% |
| Other amounts payable | 47/48 | €72,809 | €68,844 | -€3,965 | -5.4% |
| Accrued charges and deferred income | 492/3 | €85 | €71 | -€14 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,123 | €24,061 | +€3,938 | +19.6% |
| Other operating charges | 640/8 | €1,893 | €1,251 | -€642 | -33.9% |
| Gross operating margin | 9900 | €80,268 | €77,764 | -€2,504 | -3.1% |
| Operating profit (loss) | 9901 | €58,252 | €52,452 | -€5,800 | -10.0% |
| Financial income | 75/76B | €60,223 | €26,469 | -€33,754 | -56.0% |
| Recurring financial income | 75 | €52,785 | €26,469 | -€26,316 | -49.9% |
| Non-recurring financial income | 76B | €7,438 | - | -€7,438 | |
| Financial charges | 65/66B | €10,216 | €7,211 | -€3,004 | -29.4% |
| Recurring financial charges | 65 | €10,216 | €7,211 | -€3,004 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €108,259 | €71,710 | -€36,549 | -33.8% |
| Income taxes | 67/77 | €22,713 | €18,062 | -€4,651 | -20.5% |
| Profit (loss) for the period | 9904 | €85,546 | €53,648 | -€31,898 | -37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €85,546 | €53,648 | -€31,898 | -37.3% |
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 3 October 2026 via checked.be.