GDEC: 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.
GDEC
Largest movements
- Receivables within one year +€2,156
up €2,156 (+18.8%), from €11,491 to €13,647
of which Trade receivables: +€2,376
- Tangible fixed assets -€897
no longer reported in 2025 (was €897)
- Profit (loss) carried forward -€4,751
down €4,751 (-18.0%), from -€26,335 to -€31,086
- Trade debts +€4,193
up €4,193 (+157%), from €2,669 to €6,862
- Other debts +€2,646
up €2,646 (+16.4%), from €16,139 to €18,785
- Gross operating margin -€5,118
down €5,118, from €1,851 to -€3,266
- Depreciation -€2,692
down €2,692 (-75.0%), from €3,590 to €897
- Financial charges -€352
down €352 (-63.8%), from €552 to €200
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 | €60,888 | €62,520 | +€1,632 | +2.7% |
| Fixed assets | 21/28 | €1,897 | €1,000 | -€897 | -47.3% |
| Tangible fixed assets | 22/27 | €897 | - | -€897 | |
| Plant, machinery and equipment | 23 | €897 | - | -€897 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €58,991 | €61,520 | +€2,530 | +4.3% |
| Amounts receivable within one year | 40/41 | €11,491 | €13,647 | +€2,156 | +18.8% |
| Trade receivables | 40 | €10,892 | €13,269 | +€2,376 | +21.8% |
| Other amounts receivable | 41 | €598 | €378 | -€220 | -36.8% |
| Current investments | 50/53 | €47,500 | €47,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | - | €374 | +€374 | |
| Total equity and liabilities | 10/49 | €60,888 | €62,520 | +€1,632 | +2.7% |
| Equity | 10/15 | €41,625 | €36,874 | -€4,751 | -11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,360 | €49,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €49,360 | €49,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | €47,500 | €47,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,335 | -€31,086 | -€4,751 | -18.0% |
| Amounts payable | 17/49 | €19,264 | €25,647 | +€6,383 | +33.1% |
| Amounts payable within one year | 42/48 | €19,264 | €25,647 | +€6,383 | +33.1% |
| Financial debts | 43 | €456 | - | -€456 | |
| Other loans | 439 | €456 | - | -€456 | |
| Trade debts | 44 | €2,669 | €6,862 | +€4,193 | +157% |
| Suppliers | 440/4 | €2,669 | €6,862 | +€4,193 | +157% |
| Other amounts payable | 47/48 | €16,139 | €18,785 | +€2,646 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,590 | €897 | -€2,692 | -75.0% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €1,851 | -€3,266 | -€5,118 | |
| Operating profit (loss) | 9901 | -€2,123 | -€4,551 | -€2,428 | -114% |
| Financial income | 75/76B | €8 | - | -€8 | |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | €552 | €200 | -€352 | -63.8% |
| Recurring financial charges | 65 | €552 | €200 | -€352 | -63.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,667 | -€4,751 | -€2,084 | -78.1% |
| Profit (loss) for the period | 9904 | -€2,667 | -€4,751 | -€2,084 | -78.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,667 | -€4,751 | -€2,084 | -78.1% |
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.