GDS STORES: 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.
GDS STORES
Largest movements
- Tangible fixed assets +€6,365
up €6,365 (+15.6%), from €40,903 to €47,268
of which Plant, machinery and equipment: +€7,861
- Deferred charges and accrued income +€4,516
new in 2025: €4,516
- Trade debts -€16,921
down €16,921 (-42.0%), from €40,331 to €23,409
- Other debts +€16,071
up €16,071 (+9.3%), from €172,675 to €188,746
- Profit (loss) carried forward +€14,063
no longer reported in 2025 (was -€14,063)
- Accrued charges and deferred income -€7,962
no longer reported in 2025 (was €7,962)
- Reserves +€4,749
up €4,749 (+39.1%), from €12,136 to €16,885
of which Distributable reserves: +€4,749
- Staff costs -€19,040
down €19,040 (-24.4%), from €77,981 to €58,941
- Depreciation -€8,585
down €8,585 (-56.0%), from €15,339 to €6,755
- Gross operating margin -€3,659
down €3,659 (-3.3%), from €111,558 to €107,899
- Financial charges +€1,181
up €1,181 (+15.8%), from €7,493 to €8,675
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 | €422,826 | €431,833 | +€9,007 | +2.1% |
| Fixed assets | 21/28 | €42,428 | €48,793 | +€6,365 | +15.0% |
| Tangible fixed assets | 22/27 | €40,903 | €47,268 | +€6,365 | +15.6% |
| Plant, machinery and equipment | 23 | €29,364 | €37,225 | +€7,861 | +26.8% |
| Leasing and similar rights | 25 | €11,540 | €10,043 | -€1,496 | -13.0% |
| Financial fixed assets | 28 | €1,525 | €1,525 | = | 0.0% |
| Current assets | 29/58 | €380,398 | €383,040 | +€2,641 | +0.7% |
| Stocks and contracts in progress | 3 | €326,826 | €326,826 | = | 0.0% |
| Stocks | 30/36 | €326,826 | €326,826 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €31,411 | €31,214 | -€197 | -0.6% |
| Other amounts receivable | 41 | €31,411 | €31,214 | -€197 | -0.6% |
| Current investments | 50/53 | €19,781 | €19,781 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,380 | €702 | -€1,678 | -70.5% |
| Deferred charges and accrued income | 490/1 | - | €4,516 | +€4,516 | |
| Total equity and liabilities | 10/49 | €422,826 | €431,833 | +€9,007 | +2.1% |
| Equity | 10/15 | €78,072 | €96,885 | +€18,813 | +24.1% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €12,136 | €16,885 | +€4,749 | +39.1% |
| Tax-exempt reserves | 132 | €12,136 | €12,136 | = | 0.0% |
| Distributable reserves | 133 | - | €4,749 | +€4,749 | |
| Profit (loss) carried forward | 14 | -€14,063 | - | +€14,063 | |
| Amounts payable | 17/49 | €344,754 | €334,948 | -€9,806 | -2.8% |
| Amounts payable after more than one year | 17 | €15,570 | €14,453 | -€1,117 | -7.2% |
| Financial debts | 170/4 | €15,570 | €14,453 | -€1,117 | -7.2% |
| Amounts payable within one year | 42/48 | €321,222 | €320,495 | -€727 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €12,981 | €14,116 | +€1,136 | +8.7% |
| Financial debts | 43 | €76,220 | €77,329 | +€1,109 | +1.5% |
| Credit institutions | 430/8 | €76,220 | €77,329 | +€1,109 | +1.5% |
| Trade debts | 44 | €40,331 | €23,409 | -€16,921 | -42.0% |
| Suppliers | 440/4 | €40,331 | €23,409 | -€16,921 | -42.0% |
| Taxes, remuneration and social security | 45 | €19,016 | €16,895 | -€2,121 | -11.2% |
| Taxes | 450/3 | €5,756 | €10,727 | +€4,971 | +86.4% |
| Remuneration and social security | 454/9 | €13,260 | €6,167 | -€7,092 | -53.5% |
| Other amounts payable | 47/48 | €172,675 | €188,746 | +€16,071 | +9.3% |
| Accrued charges and deferred income | 492/3 | €7,962 | - | -€7,962 | |
| Remuneration, social security and pensions | 62 | €77,981 | €58,941 | -€19,040 | -24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,339 | €6,755 | -€8,585 | -56.0% |
| Other operating charges | 640/8 | €1,656 | €1,475 | -€181 | -10.9% |
| Gross operating margin | 9900 | €111,558 | €107,899 | -€3,659 | -3.3% |
| Operating profit (loss) | 9901 | €16,582 | €40,729 | +€24,147 | +145.6% |
| Financial income | 75/76B | €1,067 | €1,758 | +€692 | +64.9% |
| Recurring financial income | 75 | €1,067 | €1,758 | +€692 | +64.9% |
| Financial charges | 65/66B | €7,493 | €8,675 | +€1,181 | +15.8% |
| Recurring financial charges | 65 | €7,493 | €8,675 | +€1,181 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €10,155 | €33,813 | +€23,657 | +233.0% |
| Profit (loss) for the period | 9904 | €10,155 | €33,813 | +€23,657 | +233.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,155 | €33,813 | +€23,657 | +233.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.