GD+: 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.
GD+
Largest movements
- Deferred charges and accrued income -€23,981
down €23,981 (-98.5%), from €24,348 to €367
- Cash +€23,295
up €23,295 (+53.4%), from €43,656 to €66,951
mainly Net result for the year (+€47,703) and Deferred charges and accrued income (+€23,981)
- Receivables within one year +€3,136
up €3,136 (+30.4%), from €10,309 to €13,446
of which Other amounts receivable: +€3,493
- Tangible fixed assets -€1,380
down €1,380 (-16.3%), from €8,486 to €7,106
of which Furniture and vehicles: -€3,159
- Other debts +€8,295
up €8,295 (+18.4%), from €45,098 to €53,392
- Trade debts -€4,575
down €4,575 (-82.6%), from €5,536 to €961
- Tax, wage and social debts -€2,440
down €2,440 (-32.2%), from €7,581 to €5,141
- Gross operating margin +€15,204
up €15,204 (+30.4%), from €50,064 to €65,268
- Taxes +€2,811
up €2,811 (+29.5%), from €9,521 to €12,332
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 | €86,799 | €87,869 | +€1,070 | +1.2% |
| Fixed assets | 21/28 | €8,486 | €7,106 | -€1,380 | -16.3% |
| Tangible fixed assets | 22/27 | €8,486 | €7,106 | -€1,380 | -16.3% |
| Furniture and vehicles | 24 | €4,799 | €1,639 | -€3,159 | -65.8% |
| Other tangible fixed assets | 26 | €3,688 | €5,467 | +€1,779 | +48.2% |
| Current assets | 29/58 | €78,313 | €80,764 | +€2,450 | +3.1% |
| Amounts receivable within one year | 40/41 | €10,309 | €13,446 | +€3,136 | +30.4% |
| Trade receivables | 40 | €10,285 | €9,929 | -€356 | -3.5% |
| Other amounts receivable | 41 | €24 | €3,517 | +€3,493 | +14373.3% |
| Cash at bank and in hand | 54/58 | €43,656 | €66,951 | +€23,295 | +53.4% |
| Deferred charges and accrued income | 490/1 | €24,348 | €367 | -€23,981 | -98.5% |
| Total equity and liabilities | 10/49 | €86,799 | €87,869 | +€1,070 | +1.2% |
| Equity | 10/15 | €27,645 | €27,645 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €22,645 | €22,645 | = | 0.0% |
| Distributable reserves | 133 | €22,645 | €22,645 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €59,155 | €60,225 | +€1,070 | +1.8% |
| Amounts payable within one year | 42/48 | €58,214 | €59,494 | +€1,280 | +2.2% |
| Trade debts | 44 | €5,536 | €961 | -€4,575 | -82.6% |
| Suppliers | 440/4 | €5,536 | €961 | -€4,575 | -82.6% |
| Taxes, remuneration and social security | 45 | €7,581 | €5,141 | -€2,440 | -32.2% |
| Taxes | 450/3 | €7,581 | €5,141 | -€2,440 | -32.2% |
| Other amounts payable | 47/48 | €45,098 | €53,392 | +€8,295 | +18.4% |
| Accrued charges and deferred income | 492/3 | €940 | €731 | -€210 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,173 | €3,662 | +€488 | +15.4% |
| Other operating charges | 640/8 | €525 | €714 | +€189 | +36.0% |
| Gross operating margin | 9900 | €50,064 | €65,268 | +€15,204 | +30.4% |
| Operating profit (loss) | 9901 | €46,366 | €60,892 | +€14,526 | +31.3% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €1,448 | €857 | -€591 | -40.8% |
| Recurring financial charges | 65 | €1,448 | €857 | -€591 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | €44,919 | €60,035 | +€15,116 | +33.7% |
| Income taxes | 67/77 | €9,521 | €12,332 | +€2,811 | +29.5% |
| Profit (loss) for the period | 9904 | €35,398 | €47,703 | +€12,305 | +34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,398 | €47,703 | +€12,305 | +34.8% |
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 4 October 2026 via checked.be.