GDB INVEST: what changed
GDB INVEST
Largest movements
- Cash -€79,396
down €79,396 (-87.2%), from €91,012 to €11,616
mainly Other debts (-€106,808) and Net result for the year (-€51,907)
- Receivables within one year -€40,362
down €40,362 (-89.5%), from €45,113 to €4,751
of which Trade receivables: -€40,000
- Tangible fixed assets -€23,200
down €23,200 (-32.7%), from €70,974 to €47,774
of which Plant, machinery and equipment: -€14,744
- Other debts -€106,808
down €106,808 (-59.0%), from €181,147 to €74,339
- Profit (loss) carried forward -€34,761
down €34,761, from €0 to -€34,761
- Reserves -€17,146
down €17,146 (-100%), from €17,146 to €0
- Tax, wage and social debts +€10,748
up €10,748 (+468%), from €2,295 to €13,043
- Current portion of long-term debt +€4,762
new in 2025: €4,762
- Financial income -€45,000
down €45,000 (-100%), from €45,000 to €0
- Financial charges +€44,964
up €44,964 (+1,226%), from €3,668 to €48,632
- Gross operating margin +€15,083
up €15,083 (+155%), from €9,704 to €24,787
- Depreciation -€6,240
down €6,240 (-23.9%), from €26,149 to €19,909
- Taxes -€2,995
down €2,995 (-100%), from €2,995 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €207,099 | €65,027 | -€142,072 | -68.6% |
| Fixed assets | 21/28 | €70,974 | €47,774 | -€23,200 | -32.7% |
| Tangible fixed assets | 22/27 | €70,974 | €47,774 | -€23,200 | -32.7% |
| Plant, machinery and equipment | 23 | €38,713 | €23,968 | -€14,744 | -38.1% |
| Furniture and vehicles | 24 | €26,744 | €20,086 | -€6,658 | -24.9% |
| Other tangible fixed assets | 26 | €5,517 | €3,719 | -€1,798 | -32.6% |
| Current assets | 29/58 | €136,125 | €17,253 | -€118,872 | -87.3% |
| Amounts receivable within one year | 40/41 | €45,113 | €4,751 | -€40,362 | -89.5% |
| Trade receivables | 40 | €40,000 | €0 | -€40,000 | -100% |
| Other amounts receivable | 41 | €5,113 | €4,751 | -€362 | -7.1% |
| Cash at bank and in hand | 54/58 | €91,012 | €11,616 | -€79,396 | -87.2% |
| Deferred charges and accrued income | 490/1 | €0 | €886 | +€886 | |
| Total equity and liabilities | 10/49 | €207,099 | €65,027 | -€142,072 | -68.6% |
| Equity | 10/15 | €20,146 | -€31,761 | -€51,907 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €17,146 | €0 | -€17,146 | -100% |
| Distributable reserves | 133 | €17,146 | €0 | -€17,146 | -100% |
| Profit (loss) carried forward | 14 | €0 | -€34,761 | -€34,761 | |
| Amounts payable | 17/49 | €186,953 | €96,788 | -€90,165 | -48.2% |
| Amounts payable within one year | 42/48 | €186,953 | €96,788 | -€90,165 | -48.2% |
| Current portion of amounts payable after more than one year | 42 | - | €4,762 | +€4,762 | |
| Trade debts | 44 | €3,512 | €4,643 | +€1,132 | +32.2% |
| Suppliers | 440/4 | €3,512 | €4,643 | +€1,132 | +32.2% |
| Taxes, remuneration and social security | 45 | €2,295 | €13,043 | +€10,748 | +468% |
| Taxes | 450/3 | €2,295 | €13,043 | +€10,748 | +468% |
| Other amounts payable | 47/48 | €181,147 | €74,339 | -€106,808 | -59.0% |
| Non-recurring operating income | 76A | €1,813 | €0 | -€1,813 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,149 | €19,909 | -€6,240 | -23.9% |
| Other operating charges | 640/8 | €1,768 | €817 | -€952 | -53.8% |
| Non-recurring operating charges | 66A | €22,015 | €7,336 | -€14,679 | -66.7% |
| Gross operating margin | 9900 | €9,704 | €24,787 | +€15,083 | +155% |
| Operating profit (loss) | 9901 | -€40,229 | -€3,275 | +€36,954 | +91.9% |
| Financial income | 75/76B | €45,000 | €0 | -€45,000 | -100% |
| Recurring financial income | 75 | €45,000 | €0 | -€45,000 | -100% |
| Financial charges | 65/66B | €3,668 | €48,632 | +€44,964 | +1,226% |
| Recurring financial charges | 65 | €3,668 | €48,632 | +€44,964 | +1,226% |
| Profit (loss) for the period before taxes | 9903 | €1,103 | -€51,907 | -€53,010 | |
| Income taxes | 67/77 | €2,995 | €0 | -€2,995 | -100% |
| Profit (loss) for the period | 9904 | -€1,891 | -€51,907 | -€50,016 | -2,645% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,891 | -€51,907 | -€50,016 | -2,645% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.