GD MED: 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 MED
Largest movements
- Cash +€35,852
up €35,852 (+262%), from €13,695 to €49,548
mainly Debts after one year (+€26,270) and Deferred charges and accrued income (+€20,623)
- Tangible fixed assets +€33,341
up €33,341 (+240%), from €13,887 to €47,228
of which Leasing and similar rights: +€36,282
- Deferred charges and accrued income -€20,623
down €20,623 (-75.4%), from €27,350 to €6,727
- Debts after one year +€26,270
up €26,270 (+246%), from €10,674 to €36,944
- Profit (loss) carried forward +€8,520
up €8,520 (+23.7%), from €36,010 to €44,530
- Current portion of long-term debt +€7,679
up €7,679 (+304%), from €2,527 to €10,206
- Tax, wage and social debts +€6,324
up €6,324 (+56.6%), from €11,179 to €17,503
of which Taxes: +€3,685
- Gross operating margin -€25,415
down €25,415 (-50.8%), from €50,005 to €24,590
- Taxes -€5,494
down €5,494 (-59.9%), from €9,179 to €3,685
- Depreciation +€4,587
up €4,587 (+107%), from €4,301 to €8,888
- Other operating charges +€1,982
up €1,982 (+599%), from €331 to €2,313
- Financial charges +€1,347
up €1,347 (+346%), from €389 to €1,736
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 | €65,473 | €113,875 | +€48,402 | +73.9% |
| Fixed assets | 21/28 | €13,887 | €47,228 | +€33,341 | +240% |
| Tangible fixed assets | 22/27 | €13,887 | €47,228 | +€33,341 | +240% |
| Furniture and vehicles | 24 | €13,887 | €10,946 | -€2,942 | -21.2% |
| Leasing and similar rights | 25 | - | €36,282 | +€36,282 | |
| Current assets | 29/58 | €51,586 | €66,647 | +€15,061 | +29.2% |
| Amounts receivable within one year | 40/41 | €10,540 | €10,373 | -€168 | -1.6% |
| Trade receivables | 40 | €531 | €0 | -€531 | -100% |
| Other amounts receivable | 41 | €10,009 | €10,373 | +€364 | +3.6% |
| Cash at bank and in hand | 54/58 | €13,695 | €49,548 | +€35,852 | +262% |
| Deferred charges and accrued income | 490/1 | €27,350 | €6,727 | -€20,623 | -75.4% |
| Total equity and liabilities | 10/49 | €65,473 | €113,875 | +€48,402 | +73.9% |
| Equity | 10/15 | €40,010 | €48,530 | +€8,520 | +21.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,010 | €44,530 | +€8,520 | +23.7% |
| Amounts payable | 17/49 | €25,463 | €65,345 | +€39,882 | +157% |
| Amounts payable after more than one year | 17 | €10,674 | €36,944 | +€26,270 | +246% |
| Financial debts | 170/4 | €10,674 | €36,944 | +€26,270 | +246% |
| Amounts payable within one year | 42/48 | €14,767 | €28,368 | +€13,601 | +92.1% |
| Current portion of amounts payable after more than one year | 42 | €2,527 | €10,206 | +€7,679 | +304% |
| Trade debts | 44 | €1,060 | €659 | -€402 | -37.9% |
| Suppliers | 440/4 | €1,060 | €659 | -€402 | -37.9% |
| Taxes, remuneration and social security | 45 | €11,179 | €17,503 | +€6,324 | +56.6% |
| Taxes | 450/3 | €11,179 | €14,864 | +€3,685 | +33.0% |
| Remuneration and social security | 454/9 | - | €2,639 | +€2,639 | |
| Accrued charges and deferred income | 492/3 | €23 | €33 | +€11 | +46.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,301 | €8,888 | +€4,587 | +107% |
| Other operating charges | 640/8 | €331 | €2,313 | +€1,982 | +599% |
| Gross operating margin | 9900 | €50,005 | €24,590 | -€25,415 | -50.8% |
| Operating profit (loss) | 9901 | €45,374 | €13,389 | -€31,984 | -70.5% |
| Financial income | 75/76B | €204 | €552 | +€348 | +170% |
| Recurring financial income | 75 | €204 | €552 | +€348 | +170% |
| Financial charges | 65/66B | €389 | €1,736 | +€1,347 | +346% |
| Recurring financial charges | 65 | €389 | €1,736 | +€1,347 | +346% |
| Profit (loss) for the period before taxes | 9903 | €45,189 | €12,206 | -€32,983 | -73.0% |
| Income taxes | 67/77 | €9,179 | €3,685 | -€5,494 | -59.9% |
| Profit (loss) for the period | 9904 | €36,010 | €8,520 | -€27,489 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,010 | €8,520 | -€27,489 | -76.3% |
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 14 October 2026 via checked.be.