GDC Networks: 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.
GDC Networks
Largest movements
- Cash +€70,823
up €70,823 (+283%), from €25,000 to €95,823
mainly Depreciation (+€41,512) and Receivables within one year (+€41,316)
- Receivables within one year -€41,316
down €41,316 (-10.0%), from €411,805 to €370,489
of which Trade receivables: -€41,717
- Tangible fixed assets +€8,832
up €8,832 (+6.0%), from €148,428 to €157,261
of which Plant, machinery and equipment: +€14,059
- Stocks and contracts -€7,129
down €7,129 (-27.3%), from €26,117 to €18,989
- Reserves +€105,999
new in 2025: €105,999
- Profit (loss) carried forward -€93,578
down €93,578 (-100%), from €93,578 to €0
- Current portion of long-term debt +€31,236
up €31,236 (+167%), from €18,754 to €49,990
- Short-term financial debts -€31,155
down €31,155 (-100%), from €31,155 to €0
- Other debts +€25,000
new in 2025: €25,000
- Gross operating margin +€96,664
up €96,664 (+35.4%), from €273,000 to €369,665
- Staff costs +€41,986
up €41,986 (+19.2%), from €218,787 to €260,773
- Depreciation +€14,755
up €14,755 (+55.1%), from €26,757 to €41,512
- Taxes +€11,009
up €11,009 (+114%), from €9,664 to €20,673
- Financial charges +€5,016
up €5,016 (+99.6%), from €5,036 to €10,052
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 | €626,920 | €660,958 | +€34,038 | +5.4% |
| Fixed assets | 21/28 | €148,428 | €157,261 | +€8,832 | +6.0% |
| Tangible fixed assets | 22/27 | €148,428 | €157,261 | +€8,832 | +6.0% |
| Plant, machinery and equipment | 23 | €20,793 | €34,852 | +€14,059 | +67.6% |
| Furniture and vehicles | 24 | €87,139 | €90,510 | +€3,371 | +3.9% |
| Leasing and similar rights | 25 | €40,496 | €31,899 | -€8,597 | -21.2% |
| Current assets | 29/58 | €478,491 | €503,697 | +€25,206 | +5.3% |
| Stocks and contracts in progress | 3 | €26,117 | €18,989 | -€7,129 | -27.3% |
| Stocks | 30/36 | €26,117 | €18,989 | -€7,129 | -27.3% |
| Amounts receivable within one year | 40/41 | €411,805 | €370,489 | -€41,316 | -10.0% |
| Trade receivables | 40 | €304,195 | €262,478 | -€41,717 | -13.7% |
| Other amounts receivable | 41 | €107,609 | €108,010 | +€401 | +0.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €25,000 | €95,823 | +€70,823 | +283% |
| Deferred charges and accrued income | 490/1 | €15,569 | €18,397 | +€2,828 | +18.2% |
| Total equity and liabilities | 10/49 | €626,920 | €660,958 | +€34,038 | +5.4% |
| Equity | 10/15 | €98,578 | €110,999 | +€12,421 | +12.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €105,999 | +€105,999 | |
| Distributable reserves | 133 | - | €105,999 | +€105,999 | |
| Profit (loss) carried forward | 14 | €93,578 | €0 | -€93,578 | -100% |
| Amounts payable | 17/49 | €528,342 | €549,959 | +€21,617 | +4.1% |
| Amounts payable after more than one year | 17 | €257,644 | €253,448 | -€4,196 | -1.6% |
| Financial debts | 170/4 | €257,644 | €253,448 | -€4,196 | -1.6% |
| Amounts payable within one year | 42/48 | €270,698 | €296,512 | +€25,814 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €18,754 | €49,990 | +€31,236 | +167% |
| Financial debts | 43 | €31,155 | €0 | -€31,155 | -100% |
| Credit institutions | 430/8 | €31,155 | €0 | -€31,155 | -100% |
| Trade debts | 44 | €162,924 | €157,249 | -€5,675 | -3.5% |
| Suppliers | 440/4 | €162,924 | €157,249 | -€5,675 | -3.5% |
| Taxes, remuneration and social security | 45 | €57,866 | €64,273 | +€6,407 | +11.1% |
| Taxes | 450/3 | €57,866 | €64,229 | +€6,363 | +11.0% |
| Remuneration and social security | 454/9 | €0 | €43 | +€43 | |
| Other amounts payable | 47/48 | - | €25,000 | +€25,000 | |
| Remuneration, social security and pensions | 62 | €218,787 | €260,773 | +€41,986 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,757 | €41,512 | +€14,755 | +55.1% |
| Other operating charges | 640/8 | €3,094 | €3,794 | +€700 | +22.6% |
| Gross operating margin | 9900 | €273,000 | €369,665 | +€96,664 | +35.4% |
| Operating profit (loss) | 9901 | €24,362 | €63,586 | +€39,224 | +161% |
| Financial income | 75/76B | €4,181 | €4,560 | +€379 | +9.1% |
| Recurring financial income | 75 | €4,181 | €4,560 | +€379 | +9.1% |
| Financial charges | 65/66B | €5,036 | €10,052 | +€5,016 | +99.6% |
| Recurring financial charges | 65 | €5,036 | €10,052 | +€5,016 | +99.6% |
| Profit (loss) for the period before taxes | 9903 | €23,507 | €58,094 | +€34,587 | +147% |
| Income taxes | 67/77 | €9,664 | €20,673 | +€11,009 | +114% |
| Profit (loss) for the period | 9904 | €13,843 | €37,421 | +€23,578 | +170% |
| Profit (loss) for the period to be appropriated | 9905 | €13,843 | €37,421 | +€23,578 | +170% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.