GDM & Associates: 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.
GDM & Associates
Largest movements
- Cash -€28,011
down €28,011 (-96.7%), from €28,960 to €949
mainly Net result for the year (-€23,230) and Tax, wage and social debts (-€5,511)
- Tangible fixed assets -€1,137
down €1,137 (-17.0%), from €6,685 to €5,548
of which Other tangible fixed assets: -€718
- Receivables within one year +€547
up €547 (+71.5%), from €765 to €1,311
of which Trade receivables: +€1,125
- Profit (loss) carried forward -€23,230
down €23,230, from €20,572 to -€2,658
- Tax, wage and social debts -€5,511
down €5,511 (-45.9%), from €12,001 to €6,490
of which Taxes: -€11,851
- Gross operating margin -€4,069
down €4,069 (-24.3%), from -€16,770 to -€20,838
- Other operating charges +€684
up €684 (+1,084%), from €63 to €747
- Financial charges +€373
up €373 (+276%), from €135 to €508
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 | €36,410 | €7,808 | -€28,601 | -78.6% |
| Fixed assets | 21/28 | €6,685 | €5,548 | -€1,137 | -17.0% |
| Tangible fixed assets | 22/27 | €6,685 | €5,548 | -€1,137 | -17.0% |
| Furniture and vehicles | 24 | €810 | €391 | -€419 | -51.8% |
| Other tangible fixed assets | 26 | €5,875 | €5,158 | -€718 | -12.2% |
| Current assets | 29/58 | €29,725 | €2,260 | -€27,465 | -92.4% |
| Amounts receivable within one year | 40/41 | €765 | €1,311 | +€547 | +71.5% |
| Trade receivables | 40 | - | €1,125 | +€1,125 | |
| Other amounts receivable | 41 | €765 | €186 | -€579 | -75.7% |
| Cash at bank and in hand | 54/58 | €28,960 | €949 | -€28,011 | -96.7% |
| Total equity and liabilities | 10/49 | €36,410 | €7,808 | -€28,601 | -78.6% |
| Equity | 10/15 | €22,572 | -€658 | -€23,230 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,572 | -€2,658 | -€23,230 | |
| Amounts payable | 17/49 | €13,837 | €8,466 | -€5,372 | -38.8% |
| Amounts payable within one year | 42/48 | €13,837 | €8,466 | -€5,372 | -38.8% |
| Trade debts | 44 | €1,597 | €1,737 | +€140 | +8.8% |
| Suppliers | 440/4 | €1,597 | €1,737 | +€140 | +8.8% |
| Taxes, remuneration and social security | 45 | €12,001 | €6,490 | -€5,511 | -45.9% |
| Taxes | 450/3 | €12,001 | €150 | -€11,851 | -98.8% |
| Remuneration and social security | 454/9 | - | €6,340 | +€6,340 | |
| Other amounts payable | 47/48 | €239 | €239 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,137 | €1,137 | +€0 | 0.0% |
| Other operating charges | 640/8 | €63 | €747 | +€684 | +1,084% |
| Gross operating margin | 9900 | -€16,770 | -€20,838 | -€4,069 | -24.3% |
| Operating profit (loss) | 9901 | -€17,969 | -€22,722 | -€4,753 | -26.5% |
| Financial charges | 65/66B | €135 | €508 | +€373 | +276% |
| Recurring financial charges | 65 | €135 | €508 | +€373 | +276% |
| Profit (loss) for the period before taxes | 9903 | -€18,104 | -€23,230 | -€5,126 | -28.3% |
| Income taxes | 67/77 | €115 | - | -€115 | |
| Profit (loss) for the period | 9904 | -€18,219 | -€23,230 | -€5,011 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,219 | -€23,230 | -€5,011 | -27.5% |
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.