GD ELECTRIC CONCEPT: what changed
Two financial 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 ELECTRIC CONCEPT
Largest movements
- Tangible fixed assets +€43,517
up €43,517 (+44.7%), from €97,429 to €140,946
of which Land and buildings: +€64,315
- Cash -€15,622
down €15,622 (-56.7%), from €27,572 to €11,950
mainly Investment in fixed assets (net) (-€74,884) and Contributions, distributions and other (-€44,421)
- Receivables within one year -€8,058
down €8,058 (-9.2%), from €87,582 to €79,524
of which Trade receivables: -€15,875
- Deferred charges and accrued income +€3,010
up €3,010 (+125%), from €2,401 to €5,411
- Reserves -€40,051
down €40,051 (-33.8%), from €118,371 to €78,320
- Other debts +€37,421
up €37,421 (+535%), from €7,000 to €44,421
- Debts after one year +€35,510
up €35,510 (+134%), from €26,567 to €62,077
- Tax, wage and social debts -€15,185
down €15,185 (-56.2%), from €27,011 to €11,826
of which Remuneration and social security: -€8,422
- Short-term financial debts +€5,955
up €5,955 (+351%), from €1,698 to €7,653
- Gross operating margin -€69,322
down €69,322 (-23.8%), from €291,280 to €221,958
- Staff costs -€47,052
down €47,052 (-21.0%), from €224,382 to €177,330
- Taxes -€7,968
down €7,968 (-66.5%), from €11,987 to €4,019
- Depreciation +€6,288
up €6,288 (+24.7%), from €25,421 to €31,709
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.
Derived cash bridge
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 | €242,279 | €262,372 | +€20,093 | +8.3% |
| Fixed assets | 21/28 | €99,037 | €142,212 | +€43,175 | +43.6% |
| Intangible fixed assets | 21 | €1,400 | €1,058 | -€342 | -24.4% |
| Tangible fixed assets | 22/27 | €97,429 | €140,946 | +€43,517 | +44.7% |
| Land and buildings | 22 | - | €64,315 | +€64,315 | |
| Plant, machinery and equipment | 23 | €3,380 | €4,372 | +€992 | +29.3% |
| Furniture and vehicles | 24 | €82,861 | €62,544 | -€20,317 | -24.5% |
| Other tangible fixed assets | 26 | €11,188 | €9,715 | -€1,473 | -13.2% |
| Financial fixed assets | 28 | €208 | €208 | = | 0.0% |
| Current assets | 29/58 | €143,242 | €120,160 | -€23,082 | -16.1% |
| Stocks and contracts in progress | 3 | €25,687 | €23,275 | -€2,412 | -9.4% |
| Stocks | 30/36 | €25,687 | €23,275 | -€2,412 | -9.4% |
| Amounts receivable within one year | 40/41 | €87,582 | €79,524 | -€8,058 | -9.2% |
| Trade receivables | 40 | €72,729 | €56,854 | -€15,875 | -21.8% |
| Other amounts receivable | 41 | €14,853 | €22,670 | +€7,817 | +52.6% |
| Cash at bank and in hand | 54/58 | €27,572 | €11,950 | -€15,622 | -56.7% |
| Deferred charges and accrued income | 490/1 | €2,401 | €5,411 | +€3,010 | +125% |
| Total equity and liabilities | 10/49 | €242,279 | €262,372 | +€20,093 | +8.3% |
| Equity | 10/15 | €136,992 | €96,951 | -€40,041 | -29.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,371 | €78,320 | -€40,051 | -33.8% |
| Distributable reserves | 133 | €118,371 | €78,320 | -€40,051 | -33.8% |
| Profit (loss) carried forward | 14 | €21 | €31 | +€10 | +47.6% |
| Amounts payable | 17/49 | €105,287 | €165,421 | +€60,134 | +57.1% |
| Amounts payable after more than one year | 17 | €26,567 | €62,077 | +€35,510 | +134% |
| Financial debts | 170/4 | €26,567 | €62,077 | +€35,510 | +134% |
| Amounts payable within one year | 42/48 | €78,720 | €103,344 | +€24,624 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €16,652 | €12,385 | -€4,267 | -25.6% |
| Financial debts | 43 | €1,698 | €7,653 | +€5,955 | +351% |
| Credit institutions | 430/8 | €1,698 | €7,653 | +€5,955 | +351% |
| Trade debts | 44 | €26,359 | €27,059 | +€700 | +2.7% |
| Suppliers | 440/4 | €26,359 | €27,059 | +€700 | +2.7% |
| Taxes, remuneration and social security | 45 | €27,011 | €11,826 | -€15,185 | -56.2% |
| Taxes | 450/3 | €7,396 | €633 | -€6,763 | -91.4% |
| Remuneration and social security | 454/9 | €19,615 | €11,193 | -€8,422 | -42.9% |
| Other amounts payable | 47/48 | €7,000 | €44,421 | +€37,421 | +535% |
| Remuneration, social security and pensions | 62 | €224,382 | €177,330 | -€47,052 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,421 | €31,709 | +€6,288 | +24.7% |
| Other operating charges | 640/8 | €1,856 | €1,432 | -€424 | -22.8% |
| Gross operating margin | 9900 | €291,280 | €221,958 | -€69,322 | -23.8% |
| Operating profit (loss) | 9901 | €39,621 | €11,487 | -€28,134 | -71.0% |
| Financial income | 75/76B | €1,091 | €1,477 | +€386 | +35.4% |
| Recurring financial income | 75 | €1,091 | €1,477 | +€386 | +35.4% |
| Financial charges | 65/66B | €3,119 | €4,565 | +€1,446 | +46.4% |
| Recurring financial charges | 65 | €3,119 | €4,565 | +€1,446 | +46.4% |
| Profit (loss) for the period before taxes | 9903 | €37,593 | €8,399 | -€29,194 | -77.7% |
| Income taxes | 67/77 | €11,987 | €4,019 | -€7,968 | -66.5% |
| Profit (loss) for the period | 9904 | €25,606 | €4,380 | -€21,226 | -82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,606 | €4,380 | -€21,226 | -82.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.