GDZ: 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.
GDZ
Largest movements
- Receivables within one year +€4,919
up €4,919 (+234.5%), from €2,098 to €7,017
of which Trade receivables: +€4,664
- Cash -€4,506
down €4,506 (-93.4%), from €4,825 to €319
mainly Receivables within one year (-€4,919) and Net result for the year (-€3,231)
- Tangible fixed assets -€272
no longer reported in 2025 (was €272)
- Deferred charges and accrued income -€93
down €93 (-22.1%), from €422 to €329
- Profit (loss) carried forward -€3,231
down €3,231 (-5.7%), from -€56,396 to -€59,627
- Tax, wage and social debts +€1,831
up €1,831 (+45.5%), from €4,025 to €5,856
of which Remuneration and social security: +€3,520
- Trade debts +€1,033
up €1,033 (+216.3%), from €477 to €1,510
- Other debts +€415
up €415 (+9.3%), from €4,455 to €4,871
- Gross operating margin -€2,128
down €2,128, from €641 to -€1,487
- Depreciation -€1,016
down €1,016 (-78.9%), from €1,287 to €272
- Financial income +€907
new in 2025: €907
- Financial charges -€198
down €198 (-29.1%), from €682 to €484
- Taxes +€127
up €127 (+34.8%), from €364 to €491
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 | €7,622 | €7,670 | +€48 | +0.6% |
| Fixed assets | 21/28 | €272 | - | -€272 | |
| Tangible fixed assets | 22/27 | €272 | - | -€272 | |
| Furniture and vehicles | 24 | €272 | - | -€272 | |
| Current assets | 29/58 | €7,350 | €7,670 | +€320 | +4.4% |
| Amounts receivable within one year | 40/41 | €2,098 | €7,017 | +€4,919 | +234.5% |
| Trade receivables | 40 | €2,097 | €6,761 | +€4,664 | +222.4% |
| Other amounts receivable | 41 | €1 | €256 | +€256 | +36000.0% |
| Current investments | 50/53 | €5 | €5 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,825 | €319 | -€4,506 | -93.4% |
| Deferred charges and accrued income | 490/1 | €422 | €329 | -€93 | -22.1% |
| Total equity and liabilities | 10/49 | €7,622 | €7,670 | +€48 | +0.6% |
| Equity | 10/15 | -€1,336 | -€4,567 | -€3,231 | -241.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €48,860 | €48,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €47,000 | €47,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,396 | -€59,627 | -€3,231 | -5.7% |
| Amounts payable | 17/49 | €8,958 | €12,237 | +€3,279 | +36.6% |
| Amounts payable within one year | 42/48 | €8,958 | €12,237 | +€3,279 | +36.6% |
| Trade debts | 44 | €477 | €1,510 | +€1,033 | +216.3% |
| Suppliers | 440/4 | €477 | €1,510 | +€1,033 | +216.3% |
| Taxes, remuneration and social security | 45 | €4,025 | €5,856 | +€1,831 | +45.5% |
| Taxes | 450/3 | €3,025 | €1,336 | -€1,689 | -55.8% |
| Remuneration and social security | 454/9 | €1,000 | €4,520 | +€3,520 | +352.0% |
| Other amounts payable | 47/48 | €4,455 | €4,871 | +€415 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,287 | €272 | -€1,016 | -78.9% |
| Other operating charges | 640/8 | €1,375 | €1,404 | +€30 | +2.1% |
| Gross operating margin | 9900 | €641 | -€1,487 | -€2,128 | |
| Operating profit (loss) | 9901 | -€2,021 | -€3,163 | -€1,142 | -56.5% |
| Financial income | 75/76B | - | €907 | +€907 | |
| Recurring financial income | 75 | - | €907 | +€907 | |
| Financial charges | 65/66B | €682 | €484 | -€198 | -29.1% |
| Recurring financial charges | 65 | €682 | €484 | -€198 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,703 | -€2,739 | -€36 | -1.3% |
| Income taxes | 67/77 | €364 | €491 | +€127 | +34.8% |
| Profit (loss) for the period | 9904 | -€3,068 | -€3,231 | -€163 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,068 | -€3,231 | -€163 | -5.3% |
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 11 October 2026 via checked.be.