GDC PRODUCTS: 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 PRODUCTS
Largest movements
- Receivables within one year +€28,563
up €28,563 (+15.7%), from €182,465 to €211,027
of which Other amounts receivable: +€53,438
- Other debts +€93,339
new in 2025: €93,339
- Reserves -€32,827
down €32,827 (-9.9%), from €332,885 to €300,058
- Advances received -€19,411
no longer reported in 2025 (was €19,411)
- Tax, wage and social debts -€12,264
down €12,264 (-45.8%), from €26,778 to €14,514
- Gross operating margin -€92,769
down €92,769 (-54.6%), from €169,930 to €77,162
- Taxes -€33,324
down €33,324 (-58.8%), from €56,716 to €23,393
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 | €425,426 | €457,178 | +€31,752 | +7.5% |
| Fixed assets | 21/28 | €1,268 | €918 | -€350 | -27.6% |
| Tangible fixed assets | 22/27 | €668 | €318 | -€350 | -52.4% |
| Furniture and vehicles | 24 | €668 | €318 | -€350 | -52.4% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €424,158 | €456,260 | +€32,102 | +7.6% |
| Stocks and contracts in progress | 3 | €26,138 | €26,078 | -€60 | -0.2% |
| Stocks | 30/36 | €26,138 | €26,078 | -€60 | -0.2% |
| Amounts receivable within one year | 40/41 | €182,465 | €211,027 | +€28,563 | +15.7% |
| Trade receivables | 40 | €37,287 | €12,412 | -€24,875 | -66.7% |
| Other amounts receivable | 41 | €145,178 | €198,615 | +€53,438 | +36.8% |
| Cash at bank and in hand | 54/58 | €212,920 | €216,397 | +€3,477 | +1.6% |
| Deferred charges and accrued income | 490/1 | €2,635 | €2,757 | +€122 | +4.6% |
| Total equity and liabilities | 10/49 | €425,426 | €457,178 | +€31,752 | +7.5% |
| Equity | 10/15 | €370,877 | €338,050 | -€32,827 | -8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €332,885 | €300,058 | -€32,827 | -9.9% |
| Distributable reserves | 133 | €332,885 | €300,058 | -€32,827 | -9.9% |
| Profit (loss) carried forward | 14 | €19,391 | €19,391 | = | 0.0% |
| Amounts payable | 17/49 | €54,549 | €119,128 | +€64,579 | +118% |
| Amounts payable within one year | 42/48 | €54,549 | €119,128 | +€64,579 | +118% |
| Trade debts | 44 | €8,360 | €11,275 | +€2,915 | +34.9% |
| Suppliers | 440/4 | €8,360 | €11,275 | +€2,915 | +34.9% |
| Advances received on contracts in progress | 46 | €19,411 | - | -€19,411 | |
| Taxes, remuneration and social security | 45 | €26,778 | €14,514 | -€12,264 | -45.8% |
| Taxes | 450/3 | €26,778 | €14,514 | -€12,264 | -45.8% |
| Other amounts payable | 47/48 | - | €93,339 | +€93,339 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €350 | €350 | = | 0.0% |
| Other operating charges | 640/8 | €969 | €1,405 | +€436 | +45.0% |
| Gross operating margin | 9900 | €169,930 | €77,162 | -€92,769 | -54.6% |
| Operating profit (loss) | 9901 | €168,612 | €75,407 | -€93,205 | -55.3% |
| Financial income | 75/76B | €9,157 | €9,340 | +€183 | +2.0% |
| Recurring financial income | 75 | €9,157 | €9,340 | +€183 | +2.0% |
| Financial charges | 65/66B | €1,371 | €843 | -€528 | -38.5% |
| Recurring financial charges | 65 | €1,371 | €843 | -€528 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | €176,398 | €83,905 | -€92,493 | -52.4% |
| Income taxes | 67/77 | €56,716 | €23,393 | -€33,324 | -58.8% |
| Profit (loss) for the period | 9904 | €119,682 | €60,512 | -€59,170 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €119,682 | €60,512 | -€59,170 | -49.4% |
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 24 October 2026 via checked.be.