GDG RECYCLING: what changed
GDG RECYCLING
Largest movements
- Receivables within one year +€41,830
up €41,830 (+941%), from €4,445 to €46,275
of which Trade receivables: +€25,281
- Tangible fixed assets -€8,049
down €8,049 (-14.1%), from €57,066 to €49,016
of which Plant, machinery and equipment: -€11,763
- Cash -€4,652
down €4,652 (-1.8%), from €257,011 to €252,359
mainly Receivables within one year (-€41,830) and Investment in fixed assets (net) (-€15,157)
- Reserves +€32,736
up €32,736 (+10.4%), from €316,218 to €348,954
- Tax, wage and social debts -€7,873
down €7,873 (-51.9%), from €15,156 to €7,283
of which Taxes: -€7,873
- Gross operating margin -€81,296
down €81,296 (-55.6%), from €146,268 to €64,971
- Taxes -€18,122
down €18,122 (-69.2%), from €26,198 to €8,076
- Depreciation +€2,686
up €2,686 (+13.1%), from €20,520 to €23,206
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 | €339,487 | €364,359 | +€24,872 | +7.3% |
| Fixed assets | 21/28 | €57,066 | €49,016 | -€8,049 | -14.1% |
| Tangible fixed assets | 22/27 | €57,066 | €49,016 | -€8,049 | -14.1% |
| Plant, machinery and equipment | 23 | €54,561 | €42,798 | -€11,763 | -21.6% |
| Furniture and vehicles | 24 | €2,505 | €6,219 | +€3,714 | +148% |
| Current assets | 29/58 | €282,421 | €315,342 | +€32,921 | +11.7% |
| Stocks and contracts in progress | 3 | €17,672 | €14,804 | -€2,868 | -16.2% |
| Stocks | 30/36 | €17,672 | €14,804 | -€2,868 | -16.2% |
| Amounts receivable within one year | 40/41 | €4,445 | €46,275 | +€41,830 | +941% |
| Trade receivables | 40 | - | €25,281 | +€25,281 | |
| Other amounts receivable | 41 | €4,445 | €20,994 | +€16,549 | +372% |
| Cash at bank and in hand | 54/58 | €257,011 | €252,359 | -€4,652 | -1.8% |
| Deferred charges and accrued income | 490/1 | €3,293 | €1,904 | -€1,389 | -42.2% |
| Total equity and liabilities | 10/49 | €339,487 | €364,359 | +€24,872 | +7.3% |
| Equity | 10/15 | €321,218 | €353,954 | +€32,736 | +10.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €316,218 | €348,954 | +€32,736 | +10.4% |
| Distributable reserves | 133 | €316,218 | €348,954 | +€32,736 | +10.4% |
| Amounts payable | 17/49 | €18,269 | €10,405 | -€7,864 | -43.0% |
| Amounts payable within one year | 42/48 | €17,569 | €8,397 | -€9,172 | -52.2% |
| Trade debts | 44 | €2,413 | €440 | -€1,973 | -81.8% |
| Suppliers | 440/4 | €2,413 | €440 | -€1,973 | -81.8% |
| Taxes, remuneration and social security | 45 | €15,156 | €7,283 | -€7,873 | -51.9% |
| Taxes | 450/3 | €12,656 | €4,783 | -€7,873 | -62.2% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | - | €674 | +€674 | |
| Accrued charges and deferred income | 492/3 | €700 | €2,008 | +€1,308 | +187% |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,520 | €23,206 | +€2,686 | +13.1% |
| Other operating charges | 640/8 | €832 | €901 | +€69 | +8.3% |
| Non-recurring operating charges | 66A | €312 | - | -€312 | |
| Gross operating margin | 9900 | €146,268 | €64,971 | -€81,296 | -55.6% |
| Operating profit (loss) | 9901 | €124,603 | €40,864 | -€83,739 | -67.2% |
| Financial income | 75/76B | €5 | €14 | +€9 | +202% |
| Recurring financial income | 75 | €5 | €14 | +€9 | +202% |
| Financial charges | 65/66B | €79 | €66 | -€14 | -17.5% |
| Recurring financial charges | 65 | €79 | €66 | -€14 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €124,528 | €40,812 | -€83,715 | -67.2% |
| Income taxes | 67/77 | €26,198 | €8,076 | -€18,122 | -69.2% |
| Profit (loss) for the period | 9904 | €98,330 | €32,736 | -€65,594 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €98,330 | €32,736 | -€65,594 | -66.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.