GDWFLEX: 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.
What changed
GDWFLEX
NACE 69.103, Activities of bailiffs
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€961,427
2024 · €618,320+€343,107
Equity
€1.7m
2024 · €1.2m+€461,427
Cash
€859,504
2024 · €864,490-€4,986
Balance sheet total
€2.9m
2024 · €2.2m+€683,530
Largest movements
Assets
- Receivables within one year +€507,793
up €507,793 (+54.4%), from €932,963 to €1.4m
of which Trade receivables: +€481,939
- Receivables after one year +€102,338
up €102,338 (+31.4%), from €325,755 to €428,093
- Deferred charges and accrued income +€62,883
up €62,883 (+4,463%), from €1,409 to €64,292
- Financial fixed assets +€40,000
up €40,000 (+200%), from €20,000 to €60,000
Equity and liabilities
- Profit (loss) carried forward +€461,427
up €461,427 (+39.1%), from €1.2m to €1.6m
- Trade debts +€175,364
up €175,364 (+122%), from €143,863 to €319,226
- Other debts +€35,428
up €35,428 (+4.8%), from €739,506 to €774,934
Income statement
- Gross operating margin +€499,446
up €499,446 (+47.5%), from €1.1m to €1.6m
- Taxes +€133,941
up €133,941 (+64.5%), from €207,741 to €341,681
- Staff costs +€28,278
up €28,278 (+17.0%), from €166,470 to €194,749
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.
Result 2024
€618,320
Gross operating margin
+€499,446
Staff costs
-€28,278
Depreciation
+€1,569
Write-downs
+€2,817
Other operating charges
-€31
Other operating items
-€250
Financial income
+€1,403
Financial charges
+€372
Taxes
-€133,941
Result 2025
€961,427
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€538,758
Investment
-€57,031
Financing
-€486,712
Cash 2024
€864,490
From operations (derived)
+€538,758
Net result for the year
+€961,427
Depreciation
+€41,530
Receivables after one year
-€102,338
Receivables within one year
-€507,793
Deferred charges and accrued income
-€62,883
Trade debts
+€175,364
Tax, wage and social debts
-€17,768
Other debts
+€35,428
Accrued charges and deferred income
+€15,791
Investment (derived)
-€57,031
Investment in fixed assets (net)
-€57,031
Financing
-€486,712
Current portion of long-term debt
+€13,288
Contributions, distributions and other
-€500,000
Cash 2025
€859,504
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,225,304 | €2,908,833 | +€683,530 | +30.7% |
| Fixed assets | 21/28 | €100,687 | €116,188 | +€15,502 | +15.4% |
| Intangible fixed assets | 21 | €40,747 | €12,339 | -€28,408 | -69.7% |
| Tangible fixed assets | 22/27 | €39,939 | €43,849 | +€3,910 | +9.8% |
| Plant, machinery and equipment | 23 | €6,504 | €15,202 | +€8,698 | +134% |
| Furniture and vehicles | 24 | €9,245 | €2,872 | -€6,373 | -68.9% |
| Other tangible fixed assets | 26 | €24,191 | €25,776 | +€1,585 | +6.6% |
| Financial fixed assets | 28 | €20,000 | €60,000 | +€40,000 | +200% |
| Current assets | 29/58 | €2,124,617 | €2,792,645 | +€668,028 | +31.4% |
| Amounts receivable after more than one year | 29 | €325,755 | €428,093 | +€102,338 | +31.4% |
| Other amounts receivable | 291 | €325,755 | €428,093 | +€102,338 | +31.4% |
| Amounts receivable within one year | 40/41 | €932,963 | €1,440,756 | +€507,793 | +54.4% |
| Trade receivables | 40 | €856,870 | €1,338,809 | +€481,939 | +56.2% |
| Other amounts receivable | 41 | €76,093 | €101,947 | +€25,854 | +34.0% |
| Cash at bank and in hand | 54/58 | €864,490 | €859,504 | -€4,986 | -0.6% |
| Deferred charges and accrued income | 490/1 | €1,409 | €64,292 | +€62,883 | +4,463% |
| Total equity and liabilities | 10/49 | €2,225,304 | €2,908,833 | +€683,530 | +30.7% |
| Equity | 10/15 | €1,199,660 | €1,661,087 | +€461,427 | +38.5% |
| Contributions | 10/11 | €18,939 | €18,939 | = | 0.0% |
| Capital | 10 | €18,939 | €18,939 | = | 0.0% |
| Issued capital | 100 | €18,939 | €18,939 | = | 0.0% |
| Reserves | 13 | €1,894 | €1,894 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,894 | €1,894 | = | 0.0% |
| Legal reserve | 130 | €1,894 | €1,894 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,178,827 | €1,640,254 | +€461,427 | +39.1% |
| Amounts payable | 17/49 | €1,025,643 | €1,247,746 | +€222,103 | +21.7% |
| Amounts payable within one year | 42/48 | €996,346 | €1,202,657 | +€206,312 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €22,002 | €35,289 | +€13,288 | +60.4% |
| Trade debts | 44 | €143,863 | €319,226 | +€175,364 | +122% |
| Suppliers | 440/4 | €143,863 | €319,226 | +€175,364 | +122% |
| Taxes, remuneration and social security | 45 | €90,975 | €73,207 | -€17,768 | -19.5% |
| Taxes | 450/3 | €72,027 | €49,016 | -€23,011 | -31.9% |
| Remuneration and social security | 454/9 | €18,948 | €24,192 | +€5,243 | +27.7% |
| Other amounts payable | 47/48 | €739,506 | €774,934 | +€35,428 | +4.8% |
| Accrued charges and deferred income | 492/3 | €29,298 | €45,089 | +€15,791 | +53.9% |
| Remuneration, social security and pensions | 62 | €166,470 | €194,749 | +€28,278 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,098 | €41,530 | -€1,569 | -3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,563 | €11,746 | -€2,817 | -19.3% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Non-recurring operating charges | 66A | - | €250 | +€250 | |
| Gross operating margin | 9900 | €1,050,561 | €1,550,007 | +€499,446 | +47.5% |
| Operating profit (loss) | 9901 | €825,462 | €1,300,735 | +€475,273 | +57.6% |
| Financial income | 75/76B | €3,970 | €5,373 | +€1,403 | +35.3% |
| Recurring financial income | 75 | €3,970 | €5,373 | +€1,403 | +35.3% |
| Financial charges | 65/66B | €3,371 | €2,999 | -€372 | -11.0% |
| Recurring financial charges | 65 | €3,371 | €2,999 | -€372 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €826,061 | €1,303,108 | +€477,048 | +57.7% |
| Income taxes | 67/77 | €207,741 | €341,681 | +€133,941 | +64.5% |
| Profit (loss) for the period | 9904 | €618,320 | €961,427 | +€343,107 | +55.5% |
| Profit (loss) for the period to be appropriated | 9905 | €618,320 | €961,427 | +€343,107 | +55.5% |
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 24 October 2026 via checked.be.