GD-PROPERTIES: what changed
Two fiscal 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-PROPERTIES
Largest movements
- Tangible fixed assets -€10,173
down €10,173 (-2.7%), from €380,980 to €370,807
- Cash +€5,725
up €5,725 (+24.6%), from €23,268 to €28,993
mainly Depreciation (+€10,173) and Net result for the year (+€9,378)
- Debts after one year -€17,647
down €17,647 (-6.3%), from €281,373 to €263,726
- Profit (loss) carried forward +€9,378
up €9,378 (+19.1%), from -€49,151 to -€39,773
- Other operating charges -€55,782
down €55,782 (-99.7%), from €55,947 to €165
- Gross operating margin -€6,691
down €6,691 (-17.8%), from €37,566 to €30,874
- Financial charges -€5,592
down €5,592 (-33.4%), from €16,751 to €11,158
- Depreciation -€3,846
down €3,846 (-27.4%), from €14,020 to €10,173
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 | €404,301 | €399,852 | -€4,449 | -1.1% |
| Fixed assets | 21/28 | €380,980 | €370,807 | -€10,173 | -2.7% |
| Tangible fixed assets | 22/27 | €380,980 | €370,807 | -€10,173 | -2.7% |
| Land and buildings | 22 | €380,980 | €370,807 | -€10,173 | -2.7% |
| Current assets | 29/58 | €23,321 | €29,045 | +€5,725 | +24.5% |
| Cash at bank and in hand | 54/58 | €23,268 | €28,993 | +€5,725 | +24.6% |
| Deferred charges and accrued income | 490/1 | €52 | €52 | = | 0.0% |
| Total equity and liabilities | 10/49 | €404,301 | €399,852 | -€4,449 | -1.1% |
| Equity | 10/15 | €100,849 | €110,227 | +€9,378 | +9.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,151 | -€39,773 | +€9,378 | +19.1% |
| Amounts payable | 17/49 | €303,453 | €289,626 | -€13,827 | -4.6% |
| Amounts payable after more than one year | 17 | €281,373 | €263,726 | -€17,647 | -6.3% |
| Financial debts | 170/4 | €281,373 | €263,726 | -€17,647 | -6.3% |
| Amounts payable within one year | 42/48 | €22,079 | €22,900 | +€821 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €16,992 | €17,647 | +€656 | +3.9% |
| Trade debts | 44 | - | €231 | +€231 | |
| Suppliers | 440/4 | - | €231 | +€231 | |
| Other amounts payable | 47/48 | €5,087 | €5,022 | -€66 | -1.3% |
| Accrued charges and deferred income | 492/3 | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,020 | €10,173 | -€3,846 | -27.4% |
| Other operating charges | 640/8 | €55,947 | €165 | -€55,782 | -99.7% |
| Gross operating margin | 9900 | €37,566 | €30,874 | -€6,691 | -17.8% |
| Operating profit (loss) | 9901 | -€32,401 | €20,536 | +€52,937 | |
| Financial charges | 65/66B | €16,751 | €11,158 | -€5,592 | -33.4% |
| Recurring financial charges | 65 | €16,751 | €11,158 | -€5,592 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | -€49,151 | €9,378 | +€58,530 | |
| Profit (loss) for the period | 9904 | -€49,151 | €9,378 | +€58,530 | |
| Profit (loss) for the period to be appropriated | 9905 | -€49,151 | €9,378 | +€58,530 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.