GDC: 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.
GDC
Largest movements
- Tangible fixed assets +€76,235
up €76,235 (+685.9%), from €11,114 to €87,349
of which Land and buildings: +€61,159
- Deferred charges and accrued income -€11,147
down €11,147 (-39.3%), from €28,352 to €17,205
- Cash -€6,962
down €6,962 (-18.6%), from €37,482 to €30,520
mainly Investment in fixed assets (net) (-€82,362) and Contributions, distributions and other (-€15,000)
- Debts after one year +€40,458
up €40,458 (+211.9%), from €19,091 to €59,549
- Other debts +€14,365
up €14,365 (+2262.2%), from €635 to €15,000
- Current portion of long-term debt +€8,706
up €8,706 (+249.5%), from €3,490 to €12,196
- Tax, wage and social debts -€3,696
down €3,696 (-24.5%), from €15,096 to €11,400
of which Taxes: -€4,908
- Accrued charges and deferred income -€1,543
down €1,543 (-47.6%), from €3,240 to €1,697
- Staff costs +€7,849
up €7,849 (+38.1%), from €20,615 to €28,464
- Depreciation +€4,761
up €4,761 (+255.1%), from €1,866 to €6,627
- Taxes -€3,844
down €3,844 (-35.5%), from €10,831 to €6,987
- Gross operating margin +€1,276
up €1,276 (+2.1%), from €59,669 to €60,945
- Financial charges +€1,169
up €1,169 (+73.8%), from €1,584 to €2,753
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 | €94,376 | €152,101 | +€57,725 | +61.2% |
| Fixed assets | 21/28 | €11,614 | €87,349 | +€75,735 | +652.1% |
| Tangible fixed assets | 22/27 | €11,114 | €87,349 | +€76,235 | +685.9% |
| Land and buildings | 22 | €9,079 | €70,238 | +€61,159 | +673.6% |
| Plant, machinery and equipment | 23 | €1,199 | €803 | -€396 | -33.0% |
| Furniture and vehicles | 24 | €836 | €16,308 | +€15,472 | +1850.7% |
| Financial fixed assets | 28 | €500 | - | -€500 | |
| Current assets | 29/58 | €82,762 | €64,752 | -€18,010 | -21.8% |
| Amounts receivable within one year | 40/41 | €16,928 | €17,027 | +€99 | +0.6% |
| Trade receivables | 40 | €16,454 | €16,854 | +€400 | +2.4% |
| Other amounts receivable | 41 | €474 | €173 | -€301 | -63.5% |
| Cash at bank and in hand | 54/58 | €37,482 | €30,520 | -€6,962 | -18.6% |
| Deferred charges and accrued income | 490/1 | €28,352 | €17,205 | -€11,147 | -39.3% |
| Total equity and liabilities | 10/49 | €94,376 | €152,101 | +€57,725 | +61.2% |
| Equity | 10/15 | €49,944 | €50,521 | +€577 | +1.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €48,944 | €49,521 | +€577 | +1.2% |
| Distributable reserves | 133 | €48,944 | €49,521 | +€577 | +1.2% |
| Amounts payable | 17/49 | €44,432 | €101,580 | +€57,148 | +128.6% |
| Amounts payable after more than one year | 17 | €19,091 | €59,549 | +€40,458 | +211.9% |
| Financial debts | 170/4 | €19,091 | €59,549 | +€40,458 | +211.9% |
| Amounts payable within one year | 42/48 | €22,101 | €40,334 | +€18,233 | +82.5% |
| Current portion of amounts payable after more than one year | 42 | €3,490 | €12,196 | +€8,706 | +249.5% |
| Trade debts | 44 | €2,880 | €1,738 | -€1,142 | -39.7% |
| Suppliers | 440/4 | €2,880 | €1,738 | -€1,142 | -39.7% |
| Taxes, remuneration and social security | 45 | €15,096 | €11,400 | -€3,696 | -24.5% |
| Taxes | 450/3 | €12,455 | €7,547 | -€4,908 | -39.4% |
| Remuneration and social security | 454/9 | €2,641 | €3,853 | +€1,212 | +45.9% |
| Other amounts payable | 47/48 | €635 | €15,000 | +€14,365 | +2262.2% |
| Accrued charges and deferred income | 492/3 | €3,240 | €1,697 | -€1,543 | -47.6% |
| Remuneration, social security and pensions | 62 | €20,615 | €28,464 | +€7,849 | +38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,866 | €6,627 | +€4,761 | +255.1% |
| Other operating charges | 640/8 | €297 | €550 | +€253 | +85.2% |
| Gross operating margin | 9900 | €59,669 | €60,945 | +€1,276 | +2.1% |
| Operating profit (loss) | 9901 | €36,891 | €25,304 | -€11,587 | -31.4% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €1,584 | €2,753 | +€1,169 | +73.8% |
| Recurring financial charges | 65 | €1,584 | €2,753 | +€1,169 | +73.8% |
| Profit (loss) for the period before taxes | 9903 | €35,307 | €22,564 | -€12,743 | -36.1% |
| Income taxes | 67/77 | €10,831 | €6,987 | -€3,844 | -35.5% |
| Profit (loss) for the period | 9904 | €24,476 | €15,577 | -€8,899 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,476 | €15,577 | -€8,899 | -36.4% |
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.