GdW Mgt: 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 Mgt
Largest movements
- Cash -€12,561
down €12,561 (-43.2%), from €29,073 to €16,512
mainly Investment in fixed assets (net) (-€16,349) and Net result for the year (-€6,279)
- Financial fixed assets +€10,234
up €10,234 (+100%), from €10,234 to €20,468
- Tangible fixed assets -€5,661
down €5,661 (-33.3%), from €17,020 to €11,359
of which Furniture and vehicles: -€4,608
- Receivables within one year -€2,809
down €2,809 (-20.8%), from €13,500 to €10,691
of which Other amounts receivable: -€2,982
- Deferred charges and accrued income +€2,439
up €2,439 (+491%), from €497 to €2,936
- Profit (loss) carried forward -€6,279
down €6,279 (-16.4%), from €38,327 to €32,048
- Debts after one year -€4,971
no longer reported in 2022 (was €4,971)
- Tax, wage and social debts +€3,094
up €3,094 (+19.2%), from €16,145 to €19,240
- Gross operating margin -€72,878
down €72,878 (-91.4%), from €79,742 to €6,864
- Taxes -€15,900
no longer reported in 2022 (was €15,900)
- Depreciation -€8,871
down €8,871 (-43.0%), from €20,647 to €11,776
- Other operating charges -€3,208
down €3,208 (-84.3%), from €3,804 to €597
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,324 | €61,966 | -€8,358 | -11.9% |
| Fixed assets | 21/28 | €27,254 | €31,827 | +€4,573 | +16.8% |
| Tangible fixed assets | 22/27 | €17,020 | €11,359 | -€5,661 | -33.3% |
| Furniture and vehicles | 24 | €13,188 | €8,581 | -€4,608 | -34.9% |
| Other tangible fixed assets | 26 | €3,831 | €2,778 | -€1,053 | -27.5% |
| Financial fixed assets | 28 | €10,234 | €20,468 | +€10,234 | +100% |
| Current assets | 29/58 | €43,070 | €30,139 | -€12,931 | -30.0% |
| Amounts receivable within one year | 40/41 | €13,500 | €10,691 | -€2,809 | -20.8% |
| Trade receivables | 40 | €3,706 | €3,878 | +€173 | +4.7% |
| Other amounts receivable | 41 | €9,795 | €6,813 | -€2,982 | -30.4% |
| Cash at bank and in hand | 54/58 | €29,073 | €16,512 | -€12,561 | -43.2% |
| Deferred charges and accrued income | 490/1 | €497 | €2,936 | +€2,439 | +491% |
| Total equity and liabilities | 10/49 | €70,324 | €61,966 | -€8,358 | -11.9% |
| Equity | 10/15 | €39,327 | €33,048 | -€6,279 | -16.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | €1,000 | = | 0.0% |
| Issued capital | 100 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,327 | €32,048 | -€6,279 | -16.4% |
| Amounts payable | 17/49 | €30,997 | €28,918 | -€2,079 | -6.7% |
| Amounts payable after more than one year | 17 | €4,971 | - | -€4,971 | |
| Financial debts | 170/4 | €4,971 | - | -€4,971 | |
| Amounts payable within one year | 42/48 | €26,026 | €28,918 | +€2,892 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €5,029 | €4,971 | -€58 | -1.2% |
| Trade debts | 44 | €4,852 | €4,708 | -€144 | -3.0% |
| Suppliers | 440/4 | €4,852 | €4,708 | -€144 | -3.0% |
| Taxes, remuneration and social security | 45 | €16,145 | €19,240 | +€3,094 | +19.2% |
| Taxes | 450/3 | €16,145 | €19,240 | +€3,094 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,647 | €11,776 | -€8,871 | -43.0% |
| Other operating charges | 640/8 | €3,804 | €597 | -€3,208 | -84.3% |
| Gross operating margin | 9900 | €79,742 | €6,864 | -€72,878 | -91.4% |
| Operating profit (loss) | 9901 | €55,291 | -€5,508 | -€60,799 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,065 | €771 | -€295 | -27.7% |
| Recurring financial charges | 65 | €1,065 | €771 | -€295 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €54,227 | -€6,279 | -€60,505 | |
| Income taxes | 67/77 | €15,900 | - | -€15,900 | |
| Profit (loss) for the period | 9904 | €38,327 | -€6,279 | -€44,605 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,327 | -€6,279 | -€44,605 |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.