GDNet: 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.
GDNet
Largest movements
- Current investments +€212,360
up €212,360 (+446.7%), from €47,537 to €259,897
- Cash -€163,755
down €163,755 (-83.3%), from €196,654 to €32,899
mainly Current investments (-€212,360) and Contributions, distributions and other (-€29,669)
- Receivables within one year -€9,571
down €9,571 (-55.1%), from €17,383 to €7,811
of which Trade receivables: -€8,922
- Reserves +€44,945
up €44,945 (+27.1%), from €165,592 to €210,537
- Profit (loss) carried forward -€29,669
down €29,669 (-100.0%), from €29,669 to €0
- Other debts +€26,467
up €26,467 (+43.9%), from €60,355 to €86,822
- Financial income +€11,317
up €11,317 (+7313.0%), from €155 to €11,472
- Financial charges +€3,979
up €3,979 (+1019.9%), from €390 to €4,370
- Taxes +€2,139
up €2,139 (+11.1%), from €19,283 to €21,422
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 | €272,643 | €314,056 | +€41,413 | +15.2% |
| Fixed assets | 21/28 | €11,069 | €13,449 | +€2,380 | +21.5% |
| Tangible fixed assets | 22/27 | €11,069 | €13,449 | +€2,380 | +21.5% |
| Furniture and vehicles | 24 | €4,353 | €9,428 | +€5,074 | +116.6% |
| Other tangible fixed assets | 26 | €6,716 | €4,021 | -€2,695 | -40.1% |
| Current assets | 29/58 | €261,574 | €300,607 | +€39,034 | +14.9% |
| Amounts receivable within one year | 40/41 | €17,383 | €7,811 | -€9,571 | -55.1% |
| Trade receivables | 40 | €16,644 | €7,721 | -€8,922 | -53.6% |
| Other amounts receivable | 41 | €739 | €90 | -€649 | -87.8% |
| Current investments | 50/53 | €47,537 | €259,897 | +€212,360 | +446.7% |
| Cash at bank and in hand | 54/58 | €196,654 | €32,899 | -€163,755 | -83.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €272,643 | €314,056 | +€41,413 | +15.2% |
| Equity | 10/15 | €207,662 | €222,937 | +€15,275 | +7.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €165,592 | €210,537 | +€44,945 | +27.1% |
| Distributable reserves | 133 | €165,592 | €210,537 | +€44,945 | +27.1% |
| Profit (loss) carried forward | 14 | €29,669 | €0 | -€29,669 | -100.0% |
| Amounts payable | 17/49 | €64,981 | €91,119 | +€26,138 | +40.2% |
| Amounts payable within one year | 42/48 | €64,767 | €90,919 | +€26,152 | +40.4% |
| Trade debts | 44 | €175 | €367 | +€192 | +110.1% |
| Suppliers | 440/4 | €175 | €367 | +€192 | +110.1% |
| Taxes, remuneration and social security | 45 | €4,238 | €3,730 | -€508 | -12.0% |
| Taxes | 450/3 | €4,238 | €3,730 | -€508 | -12.0% |
| Other amounts payable | 47/48 | €60,355 | €86,822 | +€26,467 | +43.9% |
| Accrued charges and deferred income | 492/3 | €214 | €200 | -€14 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,241 | €4,677 | +€437 | +10.3% |
| Other operating charges | 640/8 | €25 | €64 | +€39 | +154.2% |
| Non-recurring operating charges | 66A | €310 | €187 | -€123 | -39.6% |
| Gross operating margin | 9900 | €64,374 | €64,193 | -€181 | -0.3% |
| Operating profit (loss) | 9901 | €59,799 | €59,265 | -€534 | -0.9% |
| Financial income | 75/76B | €155 | €11,472 | +€11,317 | +7313.0% |
| Recurring financial income | 75 | €155 | €11,472 | +€11,317 | +7313.0% |
| Financial charges | 65/66B | €390 | €4,370 | +€3,979 | +1019.9% |
| Recurring financial charges | 65 | €390 | €4,370 | +€3,979 | +1019.9% |
| Profit (loss) for the period before taxes | 9903 | €59,563 | €66,367 | +€6,804 | +11.4% |
| Income taxes | 67/77 | €19,283 | €21,422 | +€2,139 | +11.1% |
| Profit (loss) for the period | 9904 | €40,280 | €44,945 | +€4,664 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,280 | €44,945 | +€4,664 | +11.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.