GD Holding: 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 Holding
Largest movements
- Financial fixed assets -€10.0m
down €10.0m (-15.3%), from €65.2m to €55.2m
- Contributions -€10.1m
down €10.1m (-15.4%), from €65.3m to €55.2m
- Financial income -€7,413
down €7,413 (-31.3%), from €23,677 to €16,264
- Services and other goods -€4,824
down €4,824 (-28.1%), from €17,195 to €12,371
- Turnover -€4,464
down €4,464 (-21.3%), from €20,934 to €16,470
- Financial charges -€1,256
down €1,256 (-8.8%), from €14,234 to €12,978
- Other operating charges +€255
up €255 (+15.4%), from €1,651 to €1,906
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 | €65,239,538 | €55,257,095 | -€10.0m | -15.3% |
| Fixed assets | 21/28 | €65,166,092 | €55,166,093 | -€10.0m | -15.3% |
| Financial fixed assets | 28 | €65,166,092 | €55,166,093 | -€10.0m | -15.3% |
| Affiliated companies | 280/1 | €65,166,092 | €55,166,093 | -€10.0m | -15.3% |
| Participating interests | 280 | €64,666,092 | €54,666,093 | -€10.0m | -15.5% |
| Amounts receivable | 281 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €73,446 | €91,002 | +€17,556 | +23.9% |
| Amounts receivable within one year | 40/41 | €20,934 | €22,860 | +€1,926 | +9.2% |
| Trade receivables | 40 | €20,934 | €22,860 | +€1,926 | +9.2% |
| Cash at bank and in hand | 54/58 | €37,833 | €50,032 | +€12,199 | +32.2% |
| Deferred charges and accrued income | 490/1 | €14,679 | €18,110 | +€3,431 | +23.4% |
| Total equity and liabilities | 10/49 | €65,239,538 | €55,257,095 | -€10.0m | -15.3% |
| Equity | 10/15 | €65,239,538 | €55,245,017 | -€10.0m | -15.3% |
| Contributions | 10/11 | €65,295,092 | €55,239,538 | -€10.1m | -15.4% |
| Profit (loss) carried forward | 14 | -€55,554 | €5,479 | +€61,033 | |
| Amounts payable | 17/49 | - | €12,078 | +€12,078 | |
| Amounts payable within one year | 42/48 | - | €12,078 | +€12,078 | |
| Trade debts | 44 | - | €12,078 | +€12,078 | |
| Suppliers | 440/4 | - | €12,078 | +€12,078 | |
| Operating income | 70/76A | €20,934 | €16,470 | -€4,464 | -21.3% |
| Turnover | 70 | €20,934 | €16,470 | -€4,464 | -21.3% |
| Operating charges | 60/66A | €18,846 | €14,277 | -€4,569 | -24.2% |
| Services and other goods | 61 | €17,195 | €12,371 | -€4,824 | -28.1% |
| Other operating charges | 640/8 | €1,651 | €1,906 | +€255 | +15.4% |
| Operating profit (loss) | 9901 | €2,088 | €2,193 | +€105 | +5.0% |
| Financial income | 75/76B | €23,677 | €16,264 | -€7,413 | -31.3% |
| Recurring financial income | 75 | €23,677 | €16,264 | -€7,413 | -31.3% |
| Income from current assets | 751 | €23,677 | €16,264 | -€7,413 | -31.3% |
| Financial charges | 65/66B | €14,234 | €12,978 | -€1,256 | -8.8% |
| Recurring financial charges | 65 | €14,234 | €12,978 | -€1,256 | -8.8% |
| Other financial charges | 652/9 | €14,234 | €12,978 | -€1,256 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €11,531 | €5,479 | -€6,052 | -52.5% |
| Profit (loss) for the period | 9904 | €11,531 | €5,479 | -€6,052 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,531 | €5,479 | -€6,052 | -52.5% |
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 10 October 2026 via checked.be.