GDL CONSULT: 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.
GDL CONSULT
Largest movements
- Tangible fixed assets +€319,564
new in 2025: €319,564
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Cash +€94,114
up €94,114 (+122%), from €77,437 to €171,551
mainly Debts after one year (+€234,559) and Current investments (+€150,000)
- Receivables within one year +€67,793
up €67,793 (+563%), from €12,047 to €79,839
of which Other amounts receivable: +€67,430
- Debts after one year +€234,559
up €234,559 (+980%), from €23,946 to €258,505
of which Financial debts: +€233,333
- Reserves +€80,000
up €80,000 (+33.3%), from €240,000 to €320,000
- Current portion of long-term debt +€16,321
up €16,321 (+4,715%), from €346 to €16,667
- Financial income +€11,604
up €11,604 (+292%), from €3,977 to €15,581
- Taxes -€4,915
down €4,915 (-18.5%), from €26,613 to €21,698
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 | €285,756 | €617,350 | +€331,593 | +116% |
| Fixed assets | 21/28 | €43,550 | €363,114 | +€319,564 | +734% |
| Intangible fixed assets | 21 | €43,550 | €43,550 | = | 0.0% |
| Tangible fixed assets | 22/27 | - | €319,564 | +€319,564 | |
| Land and buildings | 22 | - | €319,564 | +€319,564 | |
| Current assets | 29/58 | €242,206 | €254,235 | +€12,029 | +5.0% |
| Amounts receivable within one year | 40/41 | €12,047 | €79,839 | +€67,793 | +563% |
| Trade receivables | 40 | €10,467 | €10,830 | +€363 | +3.5% |
| Other amounts receivable | 41 | €1,580 | €69,010 | +€67,430 | +4,268% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €77,437 | €171,551 | +€94,114 | +122% |
| Deferred charges and accrued income | 490/1 | €2,723 | €2,845 | +€122 | +4.5% |
| Total equity and liabilities | 10/49 | €285,756 | €617,350 | +€331,593 | +116% |
| Equity | 10/15 | €247,003 | €329,425 | +€82,423 | +33.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €240,000 | €320,000 | +€80,000 | +33.3% |
| Distributable reserves | 133 | €240,000 | €320,000 | +€80,000 | +33.3% |
| Profit (loss) carried forward | 14 | €6,003 | €8,425 | +€2,423 | +40.4% |
| Amounts payable | 17/49 | €38,754 | €287,924 | +€249,171 | +643% |
| Amounts payable after more than one year | 17 | €23,946 | €258,505 | +€234,559 | +980% |
| Financial debts | 170/4 | €0 | €233,333 | +€233,333 | |
| Other amounts payable | 178/9 | €23,946 | €25,172 | +€1,226 | +5.1% |
| Amounts payable within one year | 42/48 | €14,198 | €28,791 | +€14,592 | +103% |
| Current portion of amounts payable after more than one year | 42 | €346 | €16,667 | +€16,321 | +4,715% |
| Trade debts | 44 | €1,659 | €2,871 | +€1,212 | +73.1% |
| Suppliers | 440/4 | €1,659 | €2,871 | +€1,212 | +73.1% |
| Taxes, remuneration and social security | 45 | €10,834 | €7,851 | -€2,983 | -27.5% |
| Taxes | 450/3 | €8,356 | €5,123 | -€3,233 | -38.7% |
| Remuneration and social security | 454/9 | €2,478 | €2,728 | +€250 | +10.1% |
| Other amounts payable | 47/48 | €1,360 | €1,403 | +€43 | +3.1% |
| Accrued charges and deferred income | 492/3 | €610 | €629 | +€19 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €784 | +€784 | |
| Other operating charges | 640/8 | €840 | €681 | -€159 | -18.9% |
| Gross operating margin | 9900 | €94,627 | €95,168 | +€541 | +0.6% |
| Operating profit (loss) | 9901 | €93,787 | €93,703 | -€84 | -0.1% |
| Financial income | 75/76B | €3,977 | €15,581 | +€11,604 | +292% |
| Recurring financial income | 75 | €3,977 | €15,581 | +€11,604 | +292% |
| Financial charges | 65/66B | €3,659 | €3,514 | -€145 | -4.0% |
| Recurring financial charges | 65 | €3,659 | €3,514 | -€145 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €94,105 | €105,771 | +€11,665 | +12.4% |
| Income taxes | 67/77 | €26,613 | €21,698 | -€4,915 | -18.5% |
| Profit (loss) for the period | 9904 | €67,493 | €84,073 | +€16,580 | +24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €67,493 | €84,073 | +€16,580 | +24.6% |
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 17 October 2026 via checked.be.