GDK: 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.
GDK
Largest movements
- Stocks and contracts +€195,000
up €195,000 (+404%), from €48,250 to €243,250
- Tangible fixed assets -€17,624
down €17,624 (-33.5%), from €52,536 to €34,912
of which Plant, machinery and equipment: -€15,228
- Receivables within one year -€17,319
down €17,319 (-46.0%), from €37,610 to €20,292
of which Trade receivables: -€20,387
- Trade debts +€169,609
up €169,609 (+1,016%), from €16,695 to €186,304
- Tax, wage and social debts -€7,475
no longer reported in 2025 (was €7,475)
- Gross operating margin -€17,998
down €17,998 (-53.4%), from €33,707 to €15,709
- Depreciation -€4,263
down €4,263 (-19.5%), from €21,886 to €17,624
- Financial charges -€1,576
down €1,576 (-92.9%), from €1,696 to €120
- Financial income -€1,263
no longer reported in 2025 (was €1,263)
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 | €139,777 | €299,948 | +€160,171 | +115% |
| Fixed assets | 21/28 | €52,536 | €34,912 | -€17,624 | -33.5% |
| Tangible fixed assets | 22/27 | €52,536 | €34,912 | -€17,624 | -33.5% |
| Land and buildings | 22 | €14,837 | €12,441 | -€2,396 | -16.1% |
| Plant, machinery and equipment | 23 | €37,699 | €22,471 | -€15,228 | -40.4% |
| Current assets | 29/58 | €87,241 | €265,036 | +€177,795 | +204% |
| Stocks and contracts in progress | 3 | €48,250 | €243,250 | +€195,000 | +404% |
| Stocks | 30/36 | €48,250 | €243,250 | +€195,000 | +404% |
| Amounts receivable within one year | 40/41 | €37,610 | €20,292 | -€17,319 | -46.0% |
| Trade receivables | 40 | €37,588 | €17,200 | -€20,387 | -54.2% |
| Other amounts receivable | 41 | €23 | €3,091 | +€3,069 | +13,542% |
| Cash at bank and in hand | 54/58 | €1,381 | €1,494 | +€113 | +8.2% |
| Total equity and liabilities | 10/49 | €139,777 | €299,948 | +€160,171 | +115% |
| Equity | 10/15 | €21,062 | €18,901 | -€2,161 | -10.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,462 | €301 | -€2,161 | -87.8% |
| Amounts payable | 17/49 | €118,715 | €281,047 | +€162,332 | +137% |
| Amounts payable within one year | 42/48 | €118,715 | €281,047 | +€162,332 | +137% |
| Trade debts | 44 | €16,695 | €186,304 | +€169,609 | +1,016% |
| Suppliers | 440/4 | €16,695 | €186,304 | +€169,609 | +1,016% |
| Taxes, remuneration and social security | 45 | €7,475 | - | -€7,475 | |
| Taxes | 450/3 | €7,475 | - | -€7,475 | |
| Other amounts payable | 47/48 | €94,545 | €94,743 | +€197 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,886 | €17,624 | -€4,263 | -19.5% |
| Other operating charges | 640/8 | €115 | €126 | +€11 | +9.6% |
| Gross operating margin | 9900 | €33,707 | €15,709 | -€17,998 | -53.4% |
| Operating profit (loss) | 9901 | €11,706 | -€2,041 | -€13,746 | |
| Financial income | 75/76B | €1,263 | - | -€1,263 | |
| Recurring financial income | 75 | €1,263 | - | -€1,263 | |
| Financial charges | 65/66B | €1,696 | €120 | -€1,576 | -92.9% |
| Recurring financial charges | 65 | €1,696 | €120 | -€1,576 | -92.9% |
| Profit (loss) for the period before taxes | 9903 | €11,273 | -€2,161 | -€13,434 | |
| Income taxes | 67/77 | €225 | - | -€225 | |
| Profit (loss) for the period | 9904 | €11,048 | -€2,161 | -€13,209 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,048 | -€2,161 | -€13,209 |
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 17 October 2026 via checked.be.