GD Manufacturing: 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 Manufacturing
Largest movements
- Tangible fixed assets +€155,474
up €155,474 (+309%), from €50,300 to €205,774
of which Other tangible fixed assets: +€134,142
- Receivables within one year +€23,873
up €23,873 (+121%), from €19,785 to €43,658
of which Other amounts receivable: +€23,873
- Deferred charges and accrued income +€10,575
up €10,575 (+62.8%), from €16,831 to €27,406
- Cash -€5,169
down €5,169 (-12.9%), from €39,976 to €34,808
mainly Investment in fixed assets (net) (-€175,523) and Receivables within one year (-€23,873)
- Trade debts +€96,121
up €96,121 (+208%), from €46,266 to €142,386
- Other debts +€84,093
new in 2023: €84,093
- Staff costs +€60,341
up €60,341 (+31.1%), from €194,299 to €254,641
- Gross operating margin +€23,170
up €23,170 (+9.0%), from €256,210 to €279,380
- Taxes -€12,020
down €12,020 (-100%), from €12,020 to €0
- Depreciation +€5,624
up €5,624 (+39.0%), from €14,425 to €20,049
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €131,443 | €316,196 | +€184,753 | +141% |
| Fixed assets | 21/28 | €54,850 | €210,324 | +€155,474 | +283% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €50,300 | €205,774 | +€155,474 | +309% |
| Plant, machinery and equipment | 23 | €50,300 | €71,632 | +€21,332 | +42.4% |
| Other tangible fixed assets | 26 | - | €134,142 | +€134,142 | |
| Financial fixed assets | 28 | €4,550 | €4,550 | = | 0.0% |
| Current assets | 29/58 | €76,592 | €105,872 | +€29,279 | +38.2% |
| Amounts receivable within one year | 40/41 | €19,785 | €43,658 | +€23,873 | +121% |
| Trade receivables | 40 | €6,000 | €6,000 | = | 0.0% |
| Other amounts receivable | 41 | €13,785 | €37,658 | +€23,873 | +173% |
| Cash at bank and in hand | 54/58 | €39,976 | €34,808 | -€5,169 | -12.9% |
| Deferred charges and accrued income | 490/1 | €16,831 | €27,406 | +€10,575 | +62.8% |
| Total equity and liabilities | 10/49 | €131,443 | €316,196 | +€184,753 | +141% |
| Equity | 10/15 | €54,940 | €56,140 | +€1,201 | +2.2% |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €44,740 | €45,940 | +€1,201 | +2.7% |
| Distributable reserves | 133 | €44,740 | €45,940 | +€1,201 | +2.7% |
| Amounts payable | 17/49 | €76,503 | €260,056 | +€183,553 | +240% |
| Amounts payable within one year | 42/48 | €76,127 | €260,056 | +€183,929 | +242% |
| Financial debts | 43 | - | €809 | +€809 | |
| Credit institutions | 430/8 | - | €809 | +€809 | |
| Trade debts | 44 | €46,266 | €142,386 | +€96,121 | +208% |
| Suppliers | 440/4 | €46,266 | €142,386 | +€96,121 | +208% |
| Taxes, remuneration and social security | 45 | €29,862 | €32,767 | +€2,905 | +9.7% |
| Taxes | 450/3 | €15,592 | €12,300 | -€3,292 | -21.1% |
| Remuneration and social security | 454/9 | €14,270 | €20,467 | +€6,197 | +43.4% |
| Other amounts payable | 47/48 | - | €84,093 | +€84,093 | |
| Accrued charges and deferred income | 492/3 | €376 | - | -€376 | |
| Remuneration, social security and pensions | 62 | €194,299 | €254,641 | +€60,341 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,425 | €20,049 | +€5,624 | +39.0% |
| Other operating charges | 640/8 | €750 | €693 | -€56 | -7.5% |
| Gross operating margin | 9900 | €256,210 | €279,380 | +€23,170 | +9.0% |
| Operating profit (loss) | 9901 | €46,737 | €3,996 | -€42,740 | -91.4% |
| Financial income | 75/76B | €76 | €1 | -€75 | -98.2% |
| Recurring financial income | 75 | €76 | €1 | -€75 | -98.2% |
| Financial charges | 65/66B | €680 | €2,797 | +€2,117 | +311% |
| Recurring financial charges | 65 | €680 | €2,797 | +€2,117 | +311% |
| Profit (loss) for the period before taxes | 9903 | €46,132 | €1,201 | -€44,932 | -97.4% |
| Income taxes | 67/77 | €12,020 | €0 | -€12,020 | -100% |
| Profit (loss) for the period | 9904 | €34,112 | €1,201 | -€32,912 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,112 | €1,201 | -€32,912 | -96.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.