GD CONSULTANCY: 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 CONSULTANCY
Largest movements
- Cash +€173,375
up €173,375 (+27.7%), from €626,846 to €800,221
mainly Depreciation (+€120,366) and Net result for the year (+€86,842)
- Tangible fixed assets -€113,983
down €113,983 (-15.1%), from €756,792 to €642,809
of which Furniture and vehicles: -€76,795
- Debts after one year -€88,657
down €88,657 (-16.9%), from €524,179 to €435,522
- Reserves +€86,842
up €86,842 (+39.9%), from €217,540 to €304,382
- Trade debts +€41,075
up €41,075 (+623.1%), from €6,592 to €47,667
- Tax, wage and social debts +€30,375
up €30,375 (+139975.4%), from €22 to €30,396
- Gross operating margin +€29,408
up €29,408 (+10.8%), from €273,005 to €302,413
- Other operating charges -€13,252
down €13,252 (-54.4%), from €24,359 to €11,107
- Depreciation +€11,933
up €11,933 (+11.0%), from €108,434 to €120,366
- Taxes +€8,515
up €8,515 (+13.7%), from €62,302 to €70,817
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 | €1,410,479 | €1,464,458 | +€53,978 | +3.8% |
| Fixed assets | 21/28 | €756,792 | €642,809 | -€113,983 | -15.1% |
| Tangible fixed assets | 22/27 | €756,792 | €642,809 | -€113,983 | -15.1% |
| Land and buildings | 22 | €458,460 | €420,368 | -€38,092 | -8.3% |
| Plant, machinery and equipment | 23 | €981 | €1,885 | +€904 | +92.2% |
| Furniture and vehicles | 24 | €297,352 | €220,556 | -€76,795 | -25.8% |
| Current assets | 29/58 | €653,687 | €821,649 | +€167,961 | +25.7% |
| Amounts receivable within one year | 40/41 | €11,782 | €6,369 | -€5,414 | -45.9% |
| Other amounts receivable | 41 | €11,782 | €6,369 | -€5,414 | -45.9% |
| Current investments | 50/53 | €15,059 | €15,059 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €626,846 | €800,221 | +€173,375 | +27.7% |
| Total equity and liabilities | 10/49 | €1,410,479 | €1,464,458 | +€53,978 | +3.8% |
| Equity | 10/15 | €223,740 | €310,582 | +€86,842 | +38.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €217,540 | €304,382 | +€86,842 | +39.9% |
| Distributable reserves | 133 | €217,540 | €304,382 | +€86,842 | +39.9% |
| Amounts payable | 17/49 | €1,186,739 | €1,153,876 | -€32,863 | -2.8% |
| Amounts payable after more than one year | 17 | €524,179 | €435,522 | -€88,657 | -16.9% |
| Financial debts | 170/4 | €524,179 | €435,522 | -€88,657 | -16.9% |
| Amounts payable within one year | 42/48 | €662,560 | €718,354 | +€55,793 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €112,997 | €107,612 | -€5,385 | -4.8% |
| Trade debts | 44 | €6,592 | €47,667 | +€41,075 | +623.1% |
| Suppliers | 440/4 | €6,592 | €47,667 | +€41,075 | +623.1% |
| Taxes, remuneration and social security | 45 | €22 | €30,396 | +€30,375 | +139975.4% |
| Taxes | 450/3 | €22 | €30,396 | +€30,375 | +139975.4% |
| Other amounts payable | 47/48 | €542,949 | €532,678 | -€10,271 | -1.9% |
| Non-recurring operating income | 76A | €10,540 | - | -€10,540 | |
| Remuneration, social security and pensions | 62 | €504 | - | -€504 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,434 | €120,366 | +€11,933 | +11.0% |
| Other operating charges | 640/8 | €24,359 | €11,107 | -€13,252 | -54.4% |
| Gross operating margin | 9900 | €273,005 | €302,413 | +€29,408 | +10.8% |
| Operating profit (loss) | 9901 | €139,709 | €170,940 | +€31,231 | +22.4% |
| Financial income | 75/76B | €350 | €14 | -€336 | -96.0% |
| Recurring financial income | 75 | €350 | €14 | -€336 | -96.0% |
| Financial charges | 65/66B | €14,745 | €13,295 | -€1,450 | -9.8% |
| Recurring financial charges | 65 | €14,745 | €13,295 | -€1,450 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €125,314 | €157,659 | +€32,345 | +25.8% |
| Income taxes | 67/77 | €62,302 | €70,817 | +€8,515 | +13.7% |
| Profit (loss) for the period | 9904 | €63,011 | €86,842 | +€23,831 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €63,011 | €86,842 | +€23,831 | +37.8% |
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.