GDRCH: 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.
GDRCH
Largest movements
- Tangible fixed assets +€39,886
up €39,886 (+21.7%), from €183,661 to €223,547
of which Furniture and vehicles: +€45,166
- Deferred charges and accrued income -€32,491
down €32,491 (-81.3%), from €39,987 to €7,496
- Cash -€20,777
down €20,777 (-53.5%), from €38,865 to €18,089
mainly Investment in fixed assets (net) (-€56,661) and Other debts (-€48,947)
- Reserves +€73,641
up €73,641 (+48.3%), from €152,368 to €226,010
- Other debts -€48,947
down €48,947 (-29.7%), from €164,565 to €115,618
- Debts after one year -€28,875
down €28,875 (-11.5%), from €250,141 to €221,266
- Gross operating margin +€62,402
up €62,402 (+103.1%), from €60,501 to €122,903
- Taxes +€9,334
up €9,334 (+53.8%), from €17,344 to €26,678
- Depreciation +€9,267
up €9,267 (+123.4%), from €7,508 to €16,775
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €866,621 | €859,818 | -€6,803 | -0.8% |
| Fixed assets | 21/28 | €613,828 | €653,714 | +€39,886 | +6.5% |
| Tangible fixed assets | 22/27 | €183,661 | €223,547 | +€39,886 | +21.7% |
| Land and buildings | 22 | €181,051 | €175,771 | -€5,280 | -2.9% |
| Furniture and vehicles | 24 | €2,610 | €47,776 | +€45,166 | +1730.6% |
| Financial fixed assets | 28 | €430,167 | €430,167 | = | 0.0% |
| Current assets | 29/58 | €252,793 | €206,104 | -€46,689 | -18.5% |
| Amounts receivable within one year | 40/41 | €173,941 | €180,519 | +€6,579 | +3.8% |
| Other amounts receivable | 41 | €173,941 | €180,519 | +€6,579 | +3.8% |
| Cash at bank and in hand | 54/58 | €38,865 | €18,089 | -€20,777 | -53.5% |
| Deferred charges and accrued income | 490/1 | €39,987 | €7,496 | -€32,491 | -81.3% |
| Total equity and liabilities | 10/49 | €866,621 | €859,818 | -€6,803 | -0.8% |
| Equity | 10/15 | €396,989 | €470,630 | +€73,641 | +18.5% |
| Contributions | 10/11 | €244,620 | €244,620 | = | 0.0% |
| Reserves | 13 | €152,368 | €226,010 | +€73,641 | +48.3% |
| Distributable reserves | 133 | €152,368 | €226,010 | +€73,641 | +48.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €469,632 | €389,188 | -€80,444 | -17.1% |
| Amounts payable after more than one year | 17 | €250,141 | €221,266 | -€28,875 | -11.5% |
| Financial debts | 170/4 | €250,141 | €221,266 | -€28,875 | -11.5% |
| Amounts payable within one year | 42/48 | €219,491 | €167,922 | -€51,569 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €28,394 | €28,875 | +€481 | +1.7% |
| Trade debts | 44 | €7,135 | €3,750 | -€3,385 | -47.4% |
| Suppliers | 440/4 | €7,135 | €3,750 | -€3,385 | -47.4% |
| Taxes, remuneration and social security | 45 | €19,396 | €19,678 | +€282 | +1.5% |
| Taxes | 450/3 | €19,396 | €19,678 | +€282 | +1.5% |
| Other amounts payable | 47/48 | €164,565 | €115,618 | -€48,947 | -29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,508 | €16,775 | +€9,267 | +123.4% |
| Other operating charges | 640/8 | €1,874 | €837 | -€1,037 | -55.3% |
| Gross operating margin | 9900 | €60,501 | €122,903 | +€62,402 | +103.1% |
| Operating profit (loss) | 9901 | €51,120 | €105,291 | +€54,172 | +106.0% |
| Financial income | 75/76B | €0 | €4 | +€4 | |
| Recurring financial income | 75 | €0 | €4 | +€4 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €5,599 | €4,976 | -€623 | -11.1% |
| Recurring financial charges | 65 | €5,599 | €4,976 | -€623 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €45,521 | €100,319 | +€54,798 | +120.4% |
| Income taxes | 67/77 | €17,344 | €26,678 | +€9,334 | +53.8% |
| Profit (loss) for the period | 9904 | €28,177 | €73,641 | +€45,464 | +161.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,177 | €73,641 | +€45,464 | +161.4% |
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 8 October 2026 via checked.be.