GDMC: what changed
Two fiscal 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.
GDMC
Largest movements
- Cash +€100,586
up €100,586 (+526.6%), from €19,102 to €119,688
mainly Net result for the year (+€73,982) and Tax, wage and social debts (+€16,844)
- Current investments +€21,000
up €21,000 (+24.7%), from €85,000 to €106,000
- Receivables within one year -€15,178
down €15,178 (-43.5%), from €34,907 to €19,729
- Tangible fixed assets -€9,452
down €9,452 (-31.3%), from €30,242 to €20,790
- Reserves +€73,982
up €73,982 (+74.1%), from €99,776 to €173,758
- Tax, wage and social debts +€16,844
up €16,844 (+55.9%), from €30,149 to €46,992
- Other debts +€8,033
up €8,033 (+24.9%), from €32,305 to €40,338
- Gross operating margin +€15,127
up €15,127 (+17.3%), from €87,287 to €102,414
- Taxes +€3,548
up €3,548 (+22.5%), from €15,777 to €19,325
- Financial income +€2,454
up €2,454 (+610.2%), from €402 to €2,856
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 | €169,251 | €266,207 | +€96,956 | +57.3% |
| Fixed assets | 21/28 | €30,242 | €20,790 | -€9,452 | -31.3% |
| Tangible fixed assets | 22/27 | €30,242 | €20,790 | -€9,452 | -31.3% |
| Furniture and vehicles | 24 | €30,242 | €20,790 | -€9,452 | -31.3% |
| Current assets | 29/58 | €139,009 | €245,417 | +€106,408 | +76.5% |
| Amounts receivable within one year | 40/41 | €34,907 | €19,729 | -€15,178 | -43.5% |
| Trade receivables | 40 | €34,907 | €19,729 | -€15,178 | -43.5% |
| Current investments | 50/53 | €85,000 | €106,000 | +€21,000 | +24.7% |
| Cash at bank and in hand | 54/58 | €19,102 | €119,688 | +€100,586 | +526.6% |
| Total equity and liabilities | 10/49 | €169,251 | €266,207 | +€96,956 | +57.3% |
| Equity | 10/15 | €102,276 | €176,258 | +€73,982 | +72.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €99,776 | €173,758 | +€73,982 | +74.1% |
| Distributable reserves | 133 | €99,776 | €173,758 | +€73,982 | +74.1% |
| Amounts payable | 17/49 | €66,975 | €89,949 | +€22,974 | +34.3% |
| Amounts payable within one year | 42/48 | €66,975 | €89,949 | +€22,974 | +34.3% |
| Financial debts | 43 | €2,287 | €0 | -€2,287 | -100.0% |
| Credit institutions | 430/8 | €2,287 | €0 | -€2,287 | -100.0% |
| Trade debts | 44 | €2,234 | €2,618 | +€385 | +17.2% |
| Suppliers | 440/4 | €2,234 | €2,618 | +€385 | +17.2% |
| Taxes, remuneration and social security | 45 | €30,149 | €46,992 | +€16,844 | +55.9% |
| Taxes | 450/3 | €30,149 | €46,992 | +€16,844 | +55.9% |
| Other amounts payable | 47/48 | €32,305 | €40,338 | +€8,033 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,452 | €9,452 | = | 0.0% |
| Other operating charges | 640/8 | €190 | €194 | +€4 | +2.1% |
| Gross operating margin | 9900 | €87,287 | €102,414 | +€15,127 | +17.3% |
| Operating profit (loss) | 9901 | €77,645 | €92,768 | +€15,123 | +19.5% |
| Financial income | 75/76B | €402 | €2,856 | +€2,454 | +610.2% |
| Recurring financial income | 75 | €402 | €2,856 | +€2,454 | +610.2% |
| Financial charges | 65/66B | €3,335 | €2,317 | -€1,018 | -30.5% |
| Recurring financial charges | 65 | €3,335 | €2,317 | -€1,018 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €74,713 | €93,307 | +€18,594 | +24.9% |
| Income taxes | 67/77 | €15,777 | €19,325 | +€3,548 | +22.5% |
| Profit (loss) for the period | 9904 | €58,935 | €73,982 | +€15,047 | +25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,935 | €73,982 | +€15,047 | +25.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.