GDB: 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.
GDB
Largest movements
- Financial fixed assets -€1.4m
down €1.4m (-5.5%), from €25.6m to €24.2m
- Debts after one year -€1.3m
no longer reported in 2025 (was €1.3m)
- Short-term financial debts -€1.2m
down €1.2m (-67.6%), from €1.7m to €550,000
- Reserves +€997,696
up €997,696 (+6.2%), from €16.1m to €17.1m
of which Distributable reserves: +€997,696
- Financial charges -€149,997
down €149,997 (-83.7%), from €179,288 to €29,291
- Gross operating margin +€27,283
up €27,283 (+27.5%), from €99,263 to €126,546
- Depreciation -€2,432
down €2,432 (-21.5%), from €11,331 to €8,899
- Other operating charges +€1,484
up €1,484 (+78.3%), from €1,896 to €3,380
- Financial income -€1,352
down €1,352 (-0.1%), from €937,952 to €936,600
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 | €26,456,593 | €25,042,803 | -€1.4m | -5.3% |
| Fixed assets | 21/28 | €25,711,303 | €24,296,519 | -€1.4m | -5.5% |
| Tangible fixed assets | 22/27 | €71,263 | €65,561 | -€5,703 | -8.0% |
| Plant, machinery and equipment | 23 | €70,645 | €62,682 | -€7,963 | -11.3% |
| Furniture and vehicles | 24 | €618 | €2,879 | +€2,260 | +366% |
| Financial fixed assets | 28 | €25,640,040 | €24,230,959 | -€1.4m | -5.5% |
| Current assets | 29/58 | €745,290 | €746,283 | +€993 | +0.1% |
| Stocks and contracts in progress | 3 | €681,268 | €681,268 | = | 0.0% |
| Stocks | 30/36 | €681,268 | €681,268 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,526 | €9,076 | +€550 | +6.4% |
| Other amounts receivable | 41 | €8,526 | €9,076 | +€550 | +6.4% |
| Cash at bank and in hand | 54/58 | €55,497 | €55,940 | +€443 | +0.8% |
| Total equity and liabilities | 10/49 | €26,456,593 | €25,042,803 | -€1.4m | -5.3% |
| Equity | 10/15 | €23,356,198 | €24,353,894 | +€997,696 | +4.3% |
| Contributions | 10/11 | €7,229,750 | €7,229,750 | = | 0.0% |
| Reserves | 13 | €16,126,448 | €17,124,144 | +€997,696 | +6.2% |
| Tax-exempt reserves | 132 | €5,474 | €5,474 | = | 0.0% |
| Distributable reserves | 133 | €16,120,974 | €17,118,670 | +€997,696 | +6.2% |
| Amounts payable | 17/49 | €3,100,395 | €688,909 | -€2.4m | -77.8% |
| Amounts payable after more than one year | 17 | €1,269,331 | - | -€1.3m | |
| Financial debts | 170/4 | €1,269,331 | - | -€1.3m | |
| Amounts payable within one year | 42/48 | €1,812,825 | €688,909 | -€1.1m | -62.0% |
| Financial debts | 43 | €1,700,000 | €550,000 | -€1.2m | -67.6% |
| Credit institutions | 430/8 | €1,700,000 | €550,000 | -€1.2m | -67.6% |
| Trade debts | 44 | €10,669 | €111 | -€10,559 | -99.0% |
| Suppliers | 440/4 | €10,669 | €111 | -€10,559 | -99.0% |
| Taxes, remuneration and social security | 45 | €18,485 | €6,917 | -€11,568 | -62.6% |
| Taxes | 450/3 | €16,800 | €5,232 | -€11,568 | -68.9% |
| Remuneration and social security | 454/9 | €1,685 | €1,685 | = | 0.0% |
| Other amounts payable | 47/48 | €83,671 | €131,882 | +€48,211 | +57.6% |
| Accrued charges and deferred income | 492/3 | €18,239 | - | -€18,239 | |
| Non-recurring operating income | 76A | €15,000 | - | -€15,000 | |
| Remuneration, social security and pensions | 62 | €22,038 | €23,113 | +€1,076 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,331 | €8,899 | -€2,432 | -21.5% |
| Other operating charges | 640/8 | €1,896 | €3,380 | +€1,484 | +78.3% |
| Gross operating margin | 9900 | €99,263 | €126,546 | +€27,283 | +27.5% |
| Operating profit (loss) | 9901 | €63,999 | €91,153 | +€27,154 | +42.4% |
| Financial income | 75/76B | €937,952 | €936,600 | -€1,352 | -0.1% |
| Recurring financial income | 75 | €937,952 | €936,600 | -€1,352 | -0.1% |
| Financial charges | 65/66B | €179,288 | €29,291 | -€149,997 | -83.7% |
| Recurring financial charges | 65 | €179,288 | €29,291 | -€149,997 | -83.7% |
| Profit (loss) for the period before taxes | 9903 | €822,663 | €998,462 | +€175,799 | +21.4% |
| Income taxes | 67/77 | €766 | €766 | = | 0.0% |
| Profit (loss) for the period | 9904 | €821,897 | €997,696 | +€175,799 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €821,897 | €997,696 | +€175,799 | +21.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.