GDL GROUP: 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 GROUP
Largest movements
- Cash +€35,270
up €35,270 (+54.7%), from €64,447 to €99,718
mainly Trade debts (+€34,451) and Depreciation (+€32,093)
- Receivables within one year +€28,811
up €28,811, from €0 to €28,811
of which Trade receivables: +€28,811
- Deferred charges and accrued income +€27,676
up €27,676 (+4,172%), from €663 to €28,340
- Stocks and contracts +€18,595
up €18,595 (+1,280%), from €1,452 to €20,048
- Intangible fixed assets +€11,245
new in 2025: €11,245
- Trade debts +€34,451
up €34,451 (+195%), from €17,655 to €52,107
- Tax, wage and social debts +€30,358
up €30,358 (+59.4%), from €51,109 to €81,467
of which Remuneration and social security: +€31,415
- Profit (loss) carried forward +€28,275
up €28,275, from -€1,064 to €27,211
- Debts after one year +€27,767
up €27,767 (+257%), from €10,803 to €38,570
- Other debts -€12,996
down €12,996 (-40.6%), from €32,023 to €19,027
- Gross operating margin +€168,311
up €168,311 (+58.7%), from €286,812 to €455,123
- Staff costs +€128,049
up €128,049 (+53.9%), from €237,752 to €365,801
- Financial charges +€11,293
up €11,293 (+119%), from €9,479 to €20,772
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 | €130,714 | €251,687 | +€120,974 | +92.5% |
| Fixed assets | 21/28 | €64,151 | €74,772 | +€10,621 | +16.6% |
| Intangible fixed assets | 21 | - | €11,245 | +€11,245 | |
| Tangible fixed assets | 22/27 | €62,556 | €61,932 | -€624 | -1.0% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | €59,018 | €52,848 | -€6,170 | -10.5% |
| Furniture and vehicles | 24 | €3,538 | €9,084 | +€5,546 | +157% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | €1,595 | €1,595 | = | 0.0% |
| Current assets | 29/58 | €66,563 | €176,916 | +€110,353 | +166% |
| Stocks and contracts in progress | 3 | €1,452 | €20,048 | +€18,595 | +1,280% |
| Stocks | 30/36 | €1,452 | €20,048 | +€18,595 | +1,280% |
| Amounts receivable within one year | 40/41 | €0 | €28,811 | +€28,811 | |
| Trade receivables | 40 | €0 | €28,811 | +€28,811 | |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €64,447 | €99,718 | +€35,270 | +54.7% |
| Deferred charges and accrued income | 490/1 | €663 | €28,340 | +€27,676 | +4,172% |
| Total equity and liabilities | 10/49 | €130,714 | €251,687 | +€120,974 | +92.5% |
| Equity | 10/15 | €6,996 | €35,271 | +€28,275 | +404% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,064 | €27,211 | +€28,275 | |
| Amounts payable | 17/49 | €123,718 | €216,417 | +€92,699 | +74.9% |
| Amounts payable after more than one year | 17 | €10,803 | €38,570 | +€27,767 | +257% |
| Financial debts | 170/4 | €10,803 | €38,570 | +€27,767 | +257% |
| Amounts payable within one year | 42/48 | €112,915 | €165,563 | +€52,648 | +46.6% |
| Current portion of amounts payable after more than one year | 42 | €12,127 | €12,962 | +€835 | +6.9% |
| Trade debts | 44 | €17,655 | €52,107 | +€34,451 | +195% |
| Suppliers | 440/4 | €17,655 | €52,107 | +€34,451 | +195% |
| Taxes, remuneration and social security | 45 | €51,109 | €81,467 | +€30,358 | +59.4% |
| Taxes | 450/3 | €12,658 | €11,601 | -€1,057 | -8.4% |
| Remuneration and social security | 454/9 | €38,452 | €69,866 | +€31,415 | +81.7% |
| Other amounts payable | 47/48 | €32,023 | €19,027 | -€12,996 | -40.6% |
| Accrued charges and deferred income | 492/3 | €0 | €12,283 | +€12,283 | |
| Turnover | 70 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €237,752 | €365,801 | +€128,049 | +53.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,847 | €32,093 | +€4,246 | +15.2% |
| Other operating charges | 640/8 | €9,565 | €8,158 | -€1,407 | -14.7% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €286,812 | €455,123 | +€168,311 | +58.7% |
| Operating profit (loss) | 9901 | €11,649 | €49,071 | +€37,423 | +321% |
| Financial income | 75/76B | €199 | €327 | +€128 | +64.0% |
| Recurring financial income | 75 | €199 | €327 | +€128 | +64.0% |
| Financial charges | 65/66B | €9,479 | €20,772 | +€11,293 | +119% |
| Recurring financial charges | 65 | €9,479 | €20,772 | +€11,293 | +119% |
| Profit (loss) for the period before taxes | 9903 | €2,369 | €28,626 | +€26,257 | +1,108% |
| Income taxes | 67/77 | €276 | €351 | +€75 | +27.3% |
| Profit (loss) for the period | 9904 | €2,093 | €28,275 | +€26,182 | +1,251% |
| Profit (loss) for the period to be appropriated | 9905 | €2,093 | €28,275 | +€26,182 | +1,251% |
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 15 October 2026 via checked.be.