GCDV: 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.
GCDV
Largest movements
- Tangible fixed assets -€16,518
down €16,518 (-33.0%), from €49,982 to €33,464
of which Other tangible fixed assets: -€14,184
- Receivables within one year +€2,500
up €2,500 (+31.1%), from €8,051 to €10,552
of which Other amounts receivable: +€7,178
- Stocks and contracts -€1,800
down €1,800 (-8.2%), from €22,031 to €20,231
- Other debts -€12,707
down €12,707 (-13.4%), from €94,553 to €81,846
- Tax, wage and social debts -€6,745
down €6,745 (-38.2%), from €17,657 to €10,912
of which Taxes: -€4,682
- Trade debts +€1,594
up €1,594 (+22.4%), from €7,119 to €8,713
- Gross operating margin -€13,495
down €13,495 (-8.6%), from €156,058 to €142,563
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 | €91,163 | €73,398 | -€17,765 | -19.5% |
| Fixed assets | 21/28 | €50,312 | €33,464 | -€16,848 | -33.5% |
| Tangible fixed assets | 22/27 | €49,982 | €33,464 | -€16,518 | -33.0% |
| Plant, machinery and equipment | 23 | €6,598 | €4,797 | -€1,800 | -27.3% |
| Furniture and vehicles | 24 | €1,269 | €736 | -€533 | -42.0% |
| Other tangible fixed assets | 26 | €42,116 | €27,931 | -€14,184 | -33.7% |
| Financial fixed assets | 28 | €330 | €0 | -€330 | -100.0% |
| Current assets | 29/58 | €40,851 | €39,934 | -€917 | -2.2% |
| Stocks and contracts in progress | 3 | €22,031 | €20,231 | -€1,800 | -8.2% |
| Stocks | 30/36 | €22,031 | €20,231 | -€1,800 | -8.2% |
| Amounts receivable within one year | 40/41 | €8,051 | €10,552 | +€2,500 | +31.1% |
| Trade receivables | 40 | €7,294 | €2,616 | -€4,678 | -64.1% |
| Other amounts receivable | 41 | €758 | €7,936 | +€7,178 | +947.3% |
| Cash at bank and in hand | 54/58 | €7,946 | €7,121 | -€825 | -10.4% |
| Deferred charges and accrued income | 490/1 | €2,822 | €2,030 | -€793 | -28.1% |
| Total equity and liabilities | 10/49 | €91,163 | €73,398 | -€17,765 | -19.5% |
| Equity | 10/15 | -€28,166 | -€28,073 | +€93 | +0.3% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€88,166 | -€88,073 | +€93 | +0.1% |
| Amounts payable | 17/49 | €119,329 | €101,471 | -€17,858 | -15.0% |
| Amounts payable within one year | 42/48 | €119,329 | €101,471 | -€17,858 | -15.0% |
| Trade debts | 44 | €7,119 | €8,713 | +€1,594 | +22.4% |
| Suppliers | 440/4 | €7,119 | €8,713 | +€1,594 | +22.4% |
| Taxes, remuneration and social security | 45 | €17,657 | €10,912 | -€6,745 | -38.2% |
| Taxes | 450/3 | €6,711 | €2,029 | -€4,682 | -69.8% |
| Remuneration and social security | 454/9 | €10,946 | €8,883 | -€2,063 | -18.8% |
| Other amounts payable | 47/48 | €94,553 | €81,846 | -€12,707 | -13.4% |
| Remuneration, social security and pensions | 62 | €123,844 | €122,328 | -€1,517 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,554 | €16,518 | -€36 | -0.2% |
| Other operating charges | 640/8 | €896 | €577 | -€319 | -35.6% |
| Gross operating margin | 9900 | €156,058 | €142,563 | -€13,495 | -8.6% |
| Operating profit (loss) | 9901 | €14,763 | €3,141 | -€11,622 | -78.7% |
| Financial income | 75/76B | €24 | €443 | +€420 | +1777.1% |
| Recurring financial income | 75 | €24 | €443 | +€420 | +1777.1% |
| Financial charges | 65/66B | €3,720 | €3,491 | -€229 | -6.2% |
| Recurring financial charges | 65 | €3,720 | €3,491 | -€229 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €11,067 | €93 | -€10,974 | -99.2% |
| Profit (loss) for the period | 9904 | €11,067 | €93 | -€10,974 | -99.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,067 | €93 | -€10,974 | -99.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.