GD TARGET: 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 TARGET
Largest movements
- Tangible fixed assets +€20,871
up €20,871 (+222.3%), from €9,390 to €30,261
of which Furniture and vehicles: +€21,664
- Cash -€15,143
down €15,143 (-57.6%), from €26,273 to €11,130
mainly Investment in fixed assets (net) (-€28,766) and Contributions, distributions and other (-€23,529)
- Receivables within one year +€14,127
up €14,127 (+32.1%), from €44,007 to €58,134
of which Trade receivables: +€11,463
- Reserves +€11,986
up €11,986 (+168.8%), from €7,099 to €19,085
- Other debts +€5,962
up €5,962 (+20.2%), from €29,569 to €35,531
- Tax, wage and social debts +€3,643
up €3,643 (+20.9%), from €17,424 to €21,067
- Trade debts -€1,634
down €1,634 (-20.8%), from €7,865 to €6,231
- Gross operating margin +€24,968
up €24,968 (+76.4%), from €32,675 to €57,643
- Taxes +€4,740
up €4,740 (+72.5%), from €6,538 to €11,278
- Other operating charges +€1,659
up €1,659 (+171.2%), from €969 to €2,628
- Depreciation -€1,216
down €1,216 (-13.3%), from €9,111 to €7,895
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.
Cash bridge derived
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 | €80,620 | €100,514 | +€19,894 | +24.7% |
| Fixed assets | 21/28 | €9,390 | €30,261 | +€20,871 | +222.3% |
| Tangible fixed assets | 22/27 | €9,390 | €30,261 | +€20,871 | +222.3% |
| Plant, machinery and equipment | 23 | €3,394 | €2,859 | -€535 | -15.8% |
| Furniture and vehicles | 24 | €3,705 | €25,369 | +€21,664 | +584.7% |
| Other tangible fixed assets | 26 | €2,291 | €2,033 | -€258 | -11.3% |
| Current assets | 29/58 | €71,230 | €70,253 | -€977 | -1.4% |
| Amounts receivable within one year | 40/41 | €44,007 | €58,134 | +€14,127 | +32.1% |
| Trade receivables | 40 | €40,046 | €51,509 | +€11,463 | +28.6% |
| Other amounts receivable | 41 | €3,961 | €6,625 | +€2,664 | +67.3% |
| Cash at bank and in hand | 54/58 | €26,273 | €11,130 | -€15,143 | -57.6% |
| Deferred charges and accrued income | 490/1 | €950 | €989 | +€39 | +4.1% |
| Total equity and liabilities | 10/49 | €80,620 | €100,514 | +€19,894 | +24.7% |
| Equity | 10/15 | €25,699 | €37,685 | +€11,986 | +46.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,099 | €19,085 | +€11,986 | +168.8% |
| Distributable reserves | 133 | €7,099 | €19,085 | +€11,986 | +168.8% |
| Amounts payable | 17/49 | €54,921 | €62,829 | +€7,908 | +14.4% |
| Amounts payable within one year | 42/48 | €54,858 | €62,829 | +€7,971 | +14.5% |
| Trade debts | 44 | €7,865 | €6,231 | -€1,634 | -20.8% |
| Suppliers | 440/4 | €7,865 | €6,231 | -€1,634 | -20.8% |
| Taxes, remuneration and social security | 45 | €17,424 | €21,067 | +€3,643 | +20.9% |
| Taxes | 450/3 | €17,424 | €21,067 | +€3,643 | +20.9% |
| Other amounts payable | 47/48 | €29,569 | €35,531 | +€5,962 | +20.2% |
| Accrued charges and deferred income | 492/3 | €63 | - | -€63 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,111 | €7,895 | -€1,216 | -13.3% |
| Other operating charges | 640/8 | €969 | €2,628 | +€1,659 | +171.2% |
| Non-recurring operating charges | 66A | €262 | €153 | -€109 | -41.6% |
| Gross operating margin | 9900 | €32,675 | €57,643 | +€24,968 | +76.4% |
| Operating profit (loss) | 9901 | €22,333 | €46,967 | +€24,634 | +110.3% |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €225 | €185 | -€40 | -17.8% |
| Recurring financial charges | 65 | €225 | €185 | -€40 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €22,108 | €46,793 | +€24,685 | +111.7% |
| Income taxes | 67/77 | €6,538 | €11,278 | +€4,740 | +72.5% |
| Profit (loss) for the period | 9904 | €15,570 | €35,515 | +€19,945 | +128.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,570 | €35,515 | +€19,945 | +128.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.