GORDITEX: 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.
GORDITEX
Largest movements
- Tangible fixed assets -€34,678
down €34,678 (-4.0%), from €864,438 to €829,761
of which Land and buildings: -€39,318
- Cash -€34,042
down €34,042 (-19.8%), from €171,874 to €137,831
mainly Contributions, distributions and other (-€92,864) and Tax, wage and social debts (-€66,064)
- Receivables within one year -€20,165
down €20,165 (-14.5%), from €138,679 to €118,514
of which Trade receivables: -€47,165
- Reserves -€77,449
down €77,449 (-18.2%), from €424,689 to €347,240
of which Distributable reserves: -€77,449
- Tax, wage and social debts -€66,064
down €66,064 (-68.4%), from €96,539 to €30,475
of which Taxes: -€59,598
- Other debts +€43,400
up €43,400 (+48.2%), from €90,069 to €133,470
- Gross operating margin -€227,883
down €227,883 (-46.5%), from €489,652 to €261,769
- Taxes -€62,241
down €62,241 (-88.3%), from €70,453 to €8,212
- Staff costs -€31,723
down €31,723 (-18.8%), from €168,668 to €136,946
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 | €1,232,321 | €1,136,174 | -€96,148 | -7.8% |
| Fixed assets | 21/28 | €864,438 | €829,761 | -€34,678 | -4.0% |
| Tangible fixed assets | 22/27 | €864,438 | €829,761 | -€34,678 | -4.0% |
| Land and buildings | 22 | €813,518 | €774,200 | -€39,318 | -4.8% |
| Plant, machinery and equipment | 23 | €2,790 | €2,211 | -€579 | -20.8% |
| Furniture and vehicles | 24 | €48,130 | €53,350 | +€5,220 | +10.8% |
| Current assets | 29/58 | €367,883 | €306,413 | -€61,470 | -16.7% |
| Stocks and contracts in progress | 3 | €54,449 | €46,373 | -€8,076 | -14.8% |
| Stocks | 30/36 | €35,175 | €36,654 | +€1,479 | +4.2% |
| Contracts in progress | 37 | €19,274 | €9,719 | -€9,555 | -49.6% |
| Amounts receivable within one year | 40/41 | €138,679 | €118,514 | -€20,165 | -14.5% |
| Trade receivables | 40 | €138,679 | €91,514 | -€47,165 | -34.0% |
| Other amounts receivable | 41 | €0 | €27,000 | +€27,000 | |
| Cash at bank and in hand | 54/58 | €171,874 | €137,831 | -€34,042 | -19.8% |
| Deferred charges and accrued income | 490/1 | €2,881 | €3,694 | +€813 | +28.2% |
| Total equity and liabilities | 10/49 | €1,232,321 | €1,136,174 | -€96,148 | -7.8% |
| Equity | 10/15 | €430,889 | €353,440 | -€77,449 | -18.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €424,689 | €347,240 | -€77,449 | -18.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €422,829 | €345,380 | -€77,449 | -18.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €801,432 | €782,734 | -€18,698 | -2.3% |
| Amounts payable after more than one year | 17 | €518,283 | €524,575 | +€6,292 | +1.2% |
| Financial debts | 170/4 | €518,283 | €524,575 | +€6,292 | +1.2% |
| Amounts payable within one year | 42/48 | €283,149 | €255,233 | -€27,916 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €56,047 | €59,103 | +€3,057 | +5.5% |
| Trade debts | 44 | €35,995 | €30,114 | -€5,881 | -16.3% |
| Suppliers | 440/4 | €35,995 | €30,114 | -€5,881 | -16.3% |
| Advances received on contracts in progress | 46 | €4,499 | €2,071 | -€2,428 | -54.0% |
| Taxes, remuneration and social security | 45 | €96,539 | €30,475 | -€66,064 | -68.4% |
| Taxes | 450/3 | €76,881 | €17,283 | -€59,598 | -77.5% |
| Remuneration and social security | 454/9 | €19,658 | €13,192 | -€6,466 | -32.9% |
| Other amounts payable | 47/48 | €90,069 | €133,470 | +€43,400 | +48.2% |
| Accrued charges and deferred income | 492/3 | - | €2,926 | +€2,926 | |
| Remuneration, social security and pensions | 62 | €168,668 | €136,946 | -€31,723 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,572 | €69,405 | +€4,832 | +7.5% |
| Other operating charges | 640/8 | €9,449 | €9,935 | +€486 | +5.1% |
| Gross operating margin | 9900 | €489,652 | €261,769 | -€227,883 | -46.5% |
| Operating profit (loss) | 9901 | €246,962 | €45,483 | -€201,479 | -81.6% |
| Financial income | 75/76B | €1,643 | €2,051 | +€409 | +24.9% |
| Recurring financial income | 75 | €1,643 | €2,051 | +€409 | +24.9% |
| Financial charges | 65/66B | €22,560 | €23,908 | +€1,348 | +6.0% |
| Recurring financial charges | 65 | €22,560 | €23,908 | +€1,348 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €226,044 | €23,627 | -€202,417 | -89.5% |
| Income taxes | 67/77 | €70,453 | €8,212 | -€62,241 | -88.3% |
| Profit (loss) for the period | 9904 | €155,591 | €15,415 | -€140,176 | -90.1% |
| Profit (loss) for the period to be appropriated | 9905 | €155,591 | €15,415 | -€140,176 | -90.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.