GDS: 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.
GDS
Largest movements
- Tangible fixed assets -€16,259
down €16,259 (-32.9%), from €49,346 to €33,087
of which Furniture and vehicles: -€15,223
- Receivables within one year +€9,901
up €9,901 (+62.3%), from €15,888 to €25,789
of which Other amounts receivable: +€10,620
- Cash +€7,306
up €7,306 (+49.4%), from €14,801 to €22,108
mainly Trade debts (+€18,451) and Depreciation (+€13,255)
- Deferred charges and accrued income -€969
down €969 (-21.3%), from €4,545 to €3,575
- Trade debts +€18,451
up €18,451 (+132%), from €13,953 to €32,405
- Profit (loss) carried forward -€8,741
new in 2025: -€8,741
- Debts after one year -€7,157
down €7,157 (-31.9%), from €22,440 to €15,283
- Current portion of long-term debt -€2,575
down €2,575 (-24.3%), from €10,617 to €8,042
- Gross operating margin -€18,409
down €18,409 (-72.7%), from €25,324 to €6,915
- Depreciation -€2,702
down €2,702 (-16.9%), from €15,957 to €13,255
- Taxes -€1,825
down €1,825 (-88.8%), from €2,056 to €231
- Financial charges -€1,450
down €1,450 (-61.1%), from €2,372 to €923
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 | €85,780 | €85,759 | -€21 | 0.0% |
| Fixed assets | 21/28 | €50,546 | €34,287 | -€16,259 | -32.2% |
| Tangible fixed assets | 22/27 | €49,346 | €33,087 | -€16,259 | -32.9% |
| Plant, machinery and equipment | 23 | €4,271 | €3,235 | -€1,036 | -24.3% |
| Furniture and vehicles | 24 | €45,074 | €29,852 | -€15,223 | -33.8% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €35,234 | €51,472 | +€16,238 | +46.1% |
| Amounts receivable within one year | 40/41 | €15,888 | €25,789 | +€9,901 | +62.3% |
| Trade receivables | 40 | €1,904 | €1,185 | -€719 | -37.8% |
| Other amounts receivable | 41 | €13,984 | €24,603 | +€10,620 | +75.9% |
| Cash at bank and in hand | 54/58 | €14,801 | €22,108 | +€7,306 | +49.4% |
| Deferred charges and accrued income | 490/1 | €4,545 | €3,575 | -€969 | -21.3% |
| Total equity and liabilities | 10/49 | €85,780 | €85,759 | -€21 | 0.0% |
| Equity | 10/15 | €36,744 | €28,003 | -€8,741 | -23.8% |
| Contributions | 10/11 | €19,564 | €19,564 | = | 0.0% |
| Reserves | 13 | €17,180 | €17,180 | = | 0.0% |
| Distributable reserves | 133 | €17,180 | €17,180 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€8,741 | -€8,741 | |
| Amounts payable | 17/49 | €49,036 | €57,756 | +€8,719 | +17.8% |
| Amounts payable after more than one year | 17 | €22,440 | €15,283 | -€7,157 | -31.9% |
| Financial debts | 170/4 | €22,440 | €15,283 | -€7,157 | -31.9% |
| Amounts payable within one year | 42/48 | €26,596 | €42,473 | +€15,877 | +59.7% |
| Current portion of amounts payable after more than one year | 42 | €10,617 | €8,042 | -€2,575 | -24.3% |
| Trade debts | 44 | €13,953 | €32,405 | +€18,451 | +132% |
| Suppliers | 440/4 | €13,953 | €32,405 | +€18,451 | +132% |
| Taxes, remuneration and social security | 45 | €2,026 | €2,026 | = | 0.0% |
| Taxes | 450/3 | €2,026 | €2,026 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,203 | +€2,203 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,957 | €13,255 | -€2,702 | -16.9% |
| Other operating charges | 640/8 | €1,562 | €1,767 | +€205 | +13.1% |
| Gross operating margin | 9900 | €25,324 | €6,915 | -€18,409 | -72.7% |
| Operating profit (loss) | 9901 | €7,804 | -€8,107 | -€15,911 | |
| Financial income | 75/76B | €352 | €520 | +€168 | +47.6% |
| Recurring financial income | 75 | €352 | €520 | +€168 | +47.6% |
| Financial charges | 65/66B | €2,372 | €923 | -€1,450 | -61.1% |
| Recurring financial charges | 65 | €2,372 | €923 | -€1,450 | -61.1% |
| Profit (loss) for the period before taxes | 9903 | €5,784 | -€8,510 | -€14,294 | |
| Income taxes | 67/77 | €2,056 | €231 | -€1,825 | -88.8% |
| Profit (loss) for the period | 9904 | €3,729 | -€8,741 | -€12,469 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,729 | -€8,741 | -€12,469 |
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.