GD METAL: 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 METAL
Largest movements
- Deferred charges and accrued income +€8,800
new in 2025: €8,800
- Receivables within one year -€5,895
down €5,895 (-50.6%), from €11,643 to €5,748
of which Trade receivables: -€8,643
- Cash +€5,122
up €5,122 (+87.8%), from €5,835 to €10,956
mainly Net result for the year (+€26,408) and Trade debts (+€8,664)
- Reserves +€17,033
up €17,033 (+27.4%), from €62,084 to €79,118
- Debts after one year -€15,388
down €15,388 (-22.8%), from €67,379 to €51,991
- Trade debts +€8,664
up €8,664 (+366%), from €2,366 to €11,030
- Gross operating margin +€44,118
up €44,118 (+396%), from €11,133 to €55,251
- Taxes +€12,414
up €12,414 (+309%), from €4,012 to €16,426
- Financial charges -€1,311
down €1,311 (-26.6%), from €4,927 to €3,616
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 | €156,663 | €165,313 | +€8,650 | +5.5% |
| Fixed assets | 21/28 | €139,185 | €139,809 | +€624 | +0.4% |
| Tangible fixed assets | 22/27 | €10,583 | €11,207 | +€624 | +5.9% |
| Land and buildings | 22 | €10,583 | €11,207 | +€624 | +5.9% |
| Financial fixed assets | 28 | €128,602 | €128,602 | = | 0.0% |
| Current assets | 29/58 | €17,478 | €25,504 | +€8,027 | +45.9% |
| Amounts receivable within one year | 40/41 | €11,643 | €5,748 | -€5,895 | -50.6% |
| Trade receivables | 40 | €8,643 | - | -€8,643 | |
| Other amounts receivable | 41 | €3,000 | €5,748 | +€2,748 | +91.6% |
| Cash at bank and in hand | 54/58 | €5,835 | €10,956 | +€5,122 | +87.8% |
| Deferred charges and accrued income | 490/1 | - | €8,800 | +€8,800 | |
| Total equity and liabilities | 10/49 | €156,663 | €165,313 | +€8,650 | +5.5% |
| Equity | 10/15 | €68,284 | €85,318 | +€17,033 | +24.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €62,084 | €79,118 | +€17,033 | +27.4% |
| Distributable reserves | 133 | €62,084 | €79,118 | +€17,033 | +27.4% |
| Amounts payable | 17/49 | €88,378 | €79,996 | -€8,383 | -9.5% |
| Amounts payable after more than one year | 17 | €67,379 | €51,991 | -€15,388 | -22.8% |
| Financial debts | 170/4 | €67,379 | €51,991 | -€15,388 | -22.8% |
| Amounts payable within one year | 42/48 | €18,538 | €26,099 | +€7,561 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €10,793 | €10,962 | +€169 | +1.6% |
| Trade debts | 44 | €2,366 | €11,030 | +€8,664 | +366% |
| Suppliers | 440/4 | €2,366 | €11,030 | +€8,664 | +366% |
| Taxes, remuneration and social security | 45 | €5,379 | €4,107 | -€1,272 | -23.7% |
| Taxes | 450/3 | €5,379 | €4,107 | -€1,272 | -23.7% |
| Accrued charges and deferred income | 492/3 | €2,462 | €1,906 | -€556 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253 | €611 | +€358 | +142% |
| Other operating charges | 640/8 | €807 | €790 | -€17 | -2.1% |
| Non-recurring operating charges | 66A | - | €7,400 | +€7,400 | |
| Gross operating margin | 9900 | €11,133 | €55,251 | +€44,118 | +396% |
| Operating profit (loss) | 9901 | €10,073 | €46,450 | +€36,377 | +361% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,927 | €3,616 | -€1,311 | -26.6% |
| Recurring financial charges | 65 | €4,927 | €3,616 | -€1,311 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €5,147 | €42,834 | +€37,688 | +732% |
| Income taxes | 67/77 | €4,012 | €16,426 | +€12,414 | +309% |
| Profit (loss) for the period | 9904 | €1,135 | €26,408 | +€25,273 | +2,227% |
| Profit (loss) for the period to be appropriated | 9905 | €1,135 | €26,408 | +€25,273 | +2,227% |
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 19 October 2026 via checked.be.