GDW Leys: 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.
GDW Leys
Largest movements
- Receivables within one year +€223,416
up €223,416 (+20.0%), from €1.1m to €1.3m
of which Trade receivables: +€223,466
- Cash +€196,162
up €196,162 (+18.8%), from €1.0m to €1.2m
mainly Net result for the year (+€182,152) and Other debts (+€134,095)
- Reserves +€139,274
up €139,274 (+77.2%), from €180,393 to €319,667
- Other debts +€134,095
up €134,095 (+8.2%), from €1.6m to €1.8m
- Trade debts +€85,280
up €85,280 (+59.3%), from €143,786 to €229,066
- Short-term financial debts +€43,546
up €43,546 (+175.8%), from €24,774 to €68,320
- Tax, wage and social debts +€27,793
up €27,793 (+22.0%), from €126,519 to €154,313
of which Taxes: +€44,317
- Gross operating margin +€211,954
up €211,954 (+23.5%), from €902,030 to €1.1m
- Taxes +€60,015
up €60,015 (+210.8%), from €28,467 to €88,482
- Other operating charges +€58,698
up €58,698 (+17.4%), from €337,671 to €396,368
- Staff costs +€35,305
up €35,305 (+8.7%), from €406,683 to €441,988
- Financial income +€12,241
up €12,241, from €0 to €12,241
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 | €2,179,661 | €2,604,996 | +€425,335 | +19.5% |
| Fixed assets | 21/28 | €10,611 | €13,039 | +€2,428 | +22.9% |
| Intangible fixed assets | 21 | €2,658 | €0 | -€2,658 | -100.0% |
| Tangible fixed assets | 22/27 | €7,953 | €13,039 | +€5,086 | +63.9% |
| Plant, machinery and equipment | 23 | €1,783 | €5,699 | +€3,916 | +219.7% |
| Furniture and vehicles | 24 | - | €2,679 | +€2,679 | |
| Other tangible fixed assets | 26 | €6,171 | €4,662 | -€1,509 | -24.5% |
| Current assets | 29/58 | €2,169,050 | €2,591,957 | +€422,907 | +19.5% |
| Amounts receivable within one year | 40/41 | €1,117,637 | €1,341,053 | +€223,416 | +20.0% |
| Trade receivables | 40 | €1,116,171 | €1,339,637 | +€223,466 | +20.0% |
| Other amounts receivable | 41 | €1,466 | €1,416 | -€50 | -3.4% |
| Cash at bank and in hand | 54/58 | €1,044,714 | €1,240,876 | +€196,162 | +18.8% |
| Deferred charges and accrued income | 490/1 | €6,700 | €10,028 | +€3,329 | +49.7% |
| Total equity and liabilities | 10/49 | €2,179,661 | €2,604,996 | +€425,335 | +19.5% |
| Equity | 10/15 | €201,943 | €341,217 | +€139,274 | +69.0% |
| Contributions | 10/11 | €21,550 | €21,550 | = | 0.0% |
| Reserves | 13 | €180,393 | €319,667 | +€139,274 | +77.2% |
| Distributable reserves | 133 | €180,393 | €319,667 | +€139,274 | +77.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,977,718 | €2,263,780 | +€286,062 | +14.5% |
| Amounts payable within one year | 42/48 | €1,937,901 | €2,228,616 | +€290,715 | +15.0% |
| Financial debts | 43 | €24,774 | €68,320 | +€43,546 | +175.8% |
| Credit institutions | 430/8 | €24,774 | €68,320 | +€43,546 | +175.8% |
| Trade debts | 44 | €143,786 | €229,066 | +€85,280 | +59.3% |
| Suppliers | 440/4 | €143,786 | €229,066 | +€85,280 | +59.3% |
| Taxes, remuneration and social security | 45 | €126,519 | €154,313 | +€27,793 | +22.0% |
| Taxes | 450/3 | €46,902 | €91,219 | +€44,317 | +94.5% |
| Remuneration and social security | 454/9 | €79,618 | €63,094 | -€16,524 | -20.8% |
| Other amounts payable | 47/48 | €1,642,821 | €1,776,917 | +€134,095 | +8.2% |
| Accrued charges and deferred income | 492/3 | €39,817 | €35,164 | -€4,653 | -11.7% |
| Remuneration, social security and pensions | 62 | €406,683 | €441,988 | +€35,305 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,949 | €4,975 | -€3,974 | -44.4% |
| Other operating charges | 640/8 | €337,671 | €396,368 | +€58,698 | +17.4% |
| Gross operating margin | 9900 | €902,030 | €1,113,984 | +€211,954 | +23.5% |
| Operating profit (loss) | 9901 | €148,728 | €270,653 | +€121,926 | +82.0% |
| Financial income | 75/76B | €0 | €12,241 | +€12,241 | |
| Recurring financial income | 75 | €0 | €12,241 | +€12,241 | |
| Financial charges | 65/66B | €3,235 | €12,261 | +€9,026 | +279.0% |
| Recurring financial charges | 65 | €3,235 | €12,261 | +€9,026 | +279.0% |
| Profit (loss) for the period before taxes | 9903 | €145,492 | €270,633 | +€125,141 | +86.0% |
| Income taxes | 67/77 | €28,467 | €88,482 | +€60,015 | +210.8% |
| Profit (loss) for the period | 9904 | €117,026 | €182,152 | +€65,126 | +55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €117,026 | €182,152 | +€65,126 | +55.7% |
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 9 October 2026 via checked.be.