GDH CONNECTIONS: 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.
GDH CONNECTIONS
Largest movements
- Cash +€1,072
up €1,072 (+74.6%), from €1,436 to €2,508
mainly Trade debts (+€14,811) and Other debts (+€7,609)
- Tangible fixed assets -€833
down €833 (-63.0%), from €1,322 to €489
- Receivables within one year +€396
up €396 (+721%), from €55 to €451
of which Other amounts receivable: +€384
- Trade debts +€14,811
up €14,811 (+994%), from €1,490 to €16,301
- Advances received -€11,578
no longer reported in 2025 (was €11,578)
- Profit (loss) carried forward -€8,810
down €8,810 (-27.5%), from -€32,034 to -€40,843
- Other debts +€7,609
up €7,609 (+196%), from €3,882 to €11,490
- Tax, wage and social debts -€1,396
no longer reported in 2025 (was €1,396)
- Gross operating margin +€6,595
up €6,595 (+50.8%), from -€12,985 to -€6,389
- Depreciation -€752
down €752 (-47.5%), from €1,585 to €833
- Financial charges -€170
down €170 (-28.3%), from €599 to €430
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 | €2,812 | €3,448 | +€636 | +22.6% |
| Fixed assets | 21/28 | €1,322 | €489 | -€833 | -63.0% |
| Tangible fixed assets | 22/27 | €1,322 | €489 | -€833 | -63.0% |
| Furniture and vehicles | 24 | €1,322 | €489 | -€833 | -63.0% |
| Current assets | 29/58 | €1,491 | €2,959 | +€1,468 | +98.5% |
| Amounts receivable within one year | 40/41 | €55 | €451 | +€396 | +721% |
| Trade receivables | 40 | €55 | €68 | +€13 | +23.3% |
| Other amounts receivable | 41 | - | €384 | +€384 | |
| Cash at bank and in hand | 54/58 | €1,436 | €2,508 | +€1,072 | +74.6% |
| Total equity and liabilities | 10/49 | €2,812 | €3,448 | +€636 | +22.6% |
| Equity | 10/15 | -€15,534 | -€24,343 | -€8,810 | -56.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €14,000 | €14,000 | = | 0.0% |
| Distributable reserves | 133 | €14,000 | €14,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,034 | -€40,843 | -€8,810 | -27.5% |
| Amounts payable | 17/49 | €18,346 | €27,791 | +€9,445 | +51.5% |
| Amounts payable within one year | 42/48 | €18,346 | €27,791 | +€9,445 | +51.5% |
| Trade debts | 44 | €1,490 | €16,301 | +€14,811 | +994% |
| Suppliers | 440/4 | €1,490 | €16,301 | +€14,811 | +994% |
| Advances received on contracts in progress | 46 | €11,578 | - | -€11,578 | |
| Taxes, remuneration and social security | 45 | €1,396 | - | -€1,396 | |
| Taxes | 450/3 | €1,396 | - | -€1,396 | |
| Other amounts payable | 47/48 | €3,882 | €11,490 | +€7,609 | +196% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,585 | €833 | -€752 | -47.5% |
| Other operating charges | 640/8 | €969 | €987 | +€18 | +1.8% |
| Gross operating margin | 9900 | -€12,985 | -€6,389 | +€6,595 | +50.8% |
| Operating profit (loss) | 9901 | -€15,539 | -€8,209 | +€7,330 | +47.2% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €599 | €430 | -€170 | -28.3% |
| Recurring financial charges | 65 | €599 | €430 | -€170 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | -€16,137 | -€8,639 | +€7,499 | +46.5% |
| Income taxes | 67/77 | €175 | €171 | -€4 | -2.5% |
| Profit (loss) for the period | 9904 | -€16,313 | -€8,810 | +€7,503 | +46.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,313 | -€8,810 | +€7,503 | +46.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.