GDLS: 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.
GDLS
Largest movements
- Cash +€157,373
up €157,373 (+174.7%), from €90,094 to €247,467
mainly Contributions, distributions and other (+€149,067) and Current investments (+€80,000)
- Receivables within one year +€147,369
up €147,369 (+5822.4%), from €2,531 to €149,900
of which Other amounts receivable: +€149,900
- Current investments -€80,000
no longer reported in 2025 (was €80,000)
- Tangible fixed assets -€6,716
down €6,716 (-22.5%), from €29,884 to €23,168
- Contributions +€149,900
up €149,900 (+149900.0%), from €100 to €150,000
- Reserves +€58,785
up €58,785 (+49.0%), from €120,070 to €178,855
- Tax, wage and social debts +€9,005
up €9,005 (+33.1%), from €27,183 to €36,187
- Debts after one year -€5,909
down €5,909 (-13.9%), from €42,623 to €36,714
- Gross operating margin +€8,356
up €8,356 (+10.8%), from €77,179 to €85,535
- Taxes +€1,624
up €1,624 (+11.6%), from €13,970 to €15,594
- Financial income +€1,426
up €1,426 (+219.6%), from €649 to €2,075
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.
Cash bridge derived
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 | €202,508 | €420,535 | +€218,026 | +107.7% |
| Fixed assets | 21/28 | €29,884 | €23,168 | -€6,716 | -22.5% |
| Tangible fixed assets | 22/27 | €29,884 | €23,168 | -€6,716 | -22.5% |
| Furniture and vehicles | 24 | €29,884 | €23,168 | -€6,716 | -22.5% |
| Current assets | 29/58 | €172,625 | €397,367 | +€224,742 | +130.2% |
| Amounts receivable within one year | 40/41 | €2,531 | €149,900 | +€147,369 | +5822.4% |
| Trade receivables | 40 | €2,531 | - | -€2,531 | |
| Other amounts receivable | 41 | - | €149,900 | +€149,900 | |
| Current investments | 50/53 | €80,000 | - | -€80,000 | |
| Cash at bank and in hand | 54/58 | €90,094 | €247,467 | +€157,373 | +174.7% |
| Total equity and liabilities | 10/49 | €202,508 | €420,535 | +€218,026 | +107.7% |
| Equity | 10/15 | €120,170 | €328,855 | +€208,685 | +173.7% |
| Contributions | 10/11 | €100 | €150,000 | +€149,900 | +149900.0% |
| Reserves | 13 | €120,070 | €178,855 | +€58,785 | +49.0% |
| Distributable reserves | 133 | €120,070 | €178,855 | +€58,785 | +49.0% |
| Amounts payable | 17/49 | €82,338 | €91,680 | +€9,341 | +11.3% |
| Amounts payable after more than one year | 17 | €42,623 | €36,714 | -€5,909 | -13.9% |
| Financial debts | 170/4 | €42,623 | €36,714 | -€5,909 | -13.9% |
| Amounts payable within one year | 42/48 | €39,716 | €54,523 | +€14,807 | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €5,850 | €5,909 | +€59 | +1.0% |
| Trade debts | 44 | €19 | €1,787 | +€1,768 | +9327.9% |
| Suppliers | 440/4 | €19 | €1,787 | +€1,768 | +9327.9% |
| Taxes, remuneration and social security | 45 | €27,183 | €36,187 | +€9,005 | +33.1% |
| Taxes | 450/3 | €27,183 | €36,187 | +€9,005 | +33.1% |
| Other amounts payable | 47/48 | €6,664 | €10,641 | +€3,977 | +59.7% |
| Accrued charges and deferred income | 492/3 | - | €443 | +€443 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,647 | €10,840 | +€193 | +1.8% |
| Other operating charges | 640/8 | €118 | €524 | +€406 | +344.0% |
| Gross operating margin | 9900 | €77,179 | €85,535 | +€8,356 | +10.8% |
| Operating profit (loss) | 9901 | €66,415 | €74,171 | +€7,757 | +11.7% |
| Financial income | 75/76B | €649 | €2,075 | +€1,426 | +219.6% |
| Recurring financial income | 75 | €649 | €2,075 | +€1,426 | +219.6% |
| Financial charges | 65/66B | €721 | €1,034 | +€314 | +43.5% |
| Recurring financial charges | 65 | €721 | €1,034 | +€314 | +43.5% |
| Profit (loss) for the period before taxes | 9903 | €66,343 | €75,212 | +€8,869 | +13.4% |
| Income taxes | 67/77 | €13,970 | €15,594 | +€1,624 | +11.6% |
| Profit (loss) for the period | 9904 | €52,373 | €59,618 | +€7,245 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €52,373 | €59,618 | +€7,245 | +13.8% |
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 9 October 2026 via checked.be.