GORDIAN: 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.
GORDIAN
Largest movements
- Cash -€238,185
down €238,185 (-77.6%), from €307,054 to €68,870
mainly Contributions, distributions and other (-€285,089) and Receivables within one year (-€20,833)
- Receivables within one year +€20,833
up €20,833 (+121%), from €17,231 to €38,065
of which Other amounts receivable: +€32,738
- Reserves -€213,781
down €213,781 (-75.0%), from €285,089 to €71,308
- Tax, wage and social debts -€8,565
down €8,565 (-21.5%), from €39,784 to €31,219
- Trade debts +€3,444
up €3,444 (+354%), from €974 to €4,417
- Gross operating margin -€52,445
down €52,445 (-36.9%), from €142,136 to €89,692
- Taxes -€13,621
down €13,621 (-42.3%), from €32,223 to €18,602
- Financial income -€2,689
down €2,689 (-63.3%), from €4,246 to €1,558
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €326,846 | €108,769 | -€218,077 | -66.7% |
| Fixed assets | 21/28 | €2,437 | €1,602 | -€835 | -34.3% |
| Tangible fixed assets | 22/27 | €2,437 | €1,602 | -€835 | -34.3% |
| Furniture and vehicles | 24 | €2,437 | €1,602 | -€835 | -34.3% |
| Current assets | 29/58 | €324,409 | €107,166 | -€217,242 | -67.0% |
| Amounts receivable within one year | 40/41 | €17,231 | €38,065 | +€20,833 | +121% |
| Trade receivables | 40 | €13,522 | €1,618 | -€11,904 | -88.0% |
| Other amounts receivable | 41 | €3,709 | €36,446 | +€32,738 | +883% |
| Cash at bank and in hand | 54/58 | €307,054 | €68,870 | -€238,185 | -77.6% |
| Deferred charges and accrued income | 490/1 | €123 | €232 | +€109 | +88.6% |
| Total equity and liabilities | 10/49 | €326,846 | €108,769 | -€218,077 | -66.7% |
| Equity | 10/15 | €286,089 | €72,308 | -€213,781 | -74.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €285,089 | €71,308 | -€213,781 | -75.0% |
| Distributable reserves | 133 | €285,089 | €71,308 | -€213,781 | -75.0% |
| Amounts payable | 17/49 | €40,757 | €36,461 | -€4,296 | -10.5% |
| Amounts payable within one year | 42/48 | €40,757 | €36,461 | -€4,296 | -10.5% |
| Trade debts | 44 | €974 | €4,417 | +€3,444 | +354% |
| Suppliers | 440/4 | €974 | €4,417 | +€3,444 | +354% |
| Advances received on contracts in progress | 46 | - | €825 | +€825 | |
| Taxes, remuneration and social security | 45 | €39,784 | €31,219 | -€8,565 | -21.5% |
| Taxes | 450/3 | €39,784 | €31,219 | -€8,565 | -21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €835 | €835 | = | 0.0% |
| Other operating charges | 640/8 | €226 | €128 | -€98 | -43.4% |
| Gross operating margin | 9900 | €142,136 | €89,692 | -€52,445 | -36.9% |
| Operating profit (loss) | 9901 | €141,076 | €88,729 | -€52,347 | -37.1% |
| Financial income | 75/76B | €4,246 | €1,558 | -€2,689 | -63.3% |
| Recurring financial income | 75 | €4,246 | €1,558 | -€2,689 | -63.3% |
| Financial charges | 65/66B | €155 | €377 | +€222 | +144% |
| Recurring financial charges | 65 | €155 | €377 | +€222 | +144% |
| Profit (loss) for the period before taxes | 9903 | €145,167 | €89,909 | -€55,258 | -38.1% |
| Income taxes | 67/77 | €32,223 | €18,602 | -€13,621 | -42.3% |
| Profit (loss) for the period | 9904 | €112,944 | €71,308 | -€41,637 | -36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €112,944 | €71,308 | -€41,637 | -36.9% |
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 14 October 2026 via checked.be.