Gordos: 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.
Gordos
Largest movements
- Receivables within one year +€86,677
up €86,677 (+840%), from €10,314 to €96,991
of which Trade receivables: +€89,235
- Stocks and contracts +€70,753
new in 2025: €70,753
- Cash -€66,150
down €66,150 (-82.9%), from €79,790 to €13,639
mainly Receivables within one year (-€86,677) and Stocks and contracts (-€70,753)
- Deferred charges and accrued income +€15,330
up €15,330 (+775%), from €1,978 to €17,308
- Intangible fixed assets +€10,047
new in 2025: €10,047
- Trade debts +€101,106
up €101,106 (+1,285%), from €7,868 to €108,974
- Other debts +€49,789
up €49,789 (+1,924%), from €2,588 to €52,376
- Profit (loss) carried forward -€47,503
down €47,503 (-449%), from -€10,581 to -€58,084
- Gross operating margin +€32,352
up €32,352 (+48.8%), from -€66,340 to -€33,988
- Depreciation +€1,603
up €1,603 (+17.5%), from €9,163 to €10,766
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 | €204,044 | €313,242 | +€109,199 | +53.5% |
| Fixed assets | 21/28 | €111,962 | €114,551 | +€2,589 | +2.3% |
| Intangible fixed assets | 21 | - | €10,047 | +€10,047 | |
| Tangible fixed assets | 22/27 | €111,962 | €104,504 | -€7,458 | -6.7% |
| Plant, machinery and equipment | 23 | €1,219 | €1,959 | +€740 | +60.7% |
| Furniture and vehicles | 24 | €24,275 | €17,530 | -€6,745 | -27.8% |
| Other tangible fixed assets | 26 | €86,468 | €85,015 | -€1,454 | -1.7% |
| Current assets | 29/58 | €92,082 | €198,692 | +€106,610 | +116% |
| Stocks and contracts in progress | 3 | - | €70,753 | +€70,753 | |
| Stocks | 30/36 | - | €70,753 | +€70,753 | |
| Amounts receivable within one year | 40/41 | €10,314 | €96,991 | +€86,677 | +840% |
| Trade receivables | 40 | €7,756 | €96,991 | +€89,235 | +1,151% |
| Other amounts receivable | 41 | €2,558 | - | -€2,558 | |
| Cash at bank and in hand | 54/58 | €79,790 | €13,639 | -€66,150 | -82.9% |
| Deferred charges and accrued income | 490/1 | €1,978 | €17,308 | +€15,330 | +775% |
| Total equity and liabilities | 10/49 | €204,044 | €313,242 | +€109,199 | +53.5% |
| Equity | 10/15 | €191,114 | €143,611 | -€47,503 | -24.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €183,095 | €183,095 | = | 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 | €181,235 | €181,235 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,581 | -€58,084 | -€47,503 | -449% |
| Amounts payable | 17/49 | €12,930 | €169,631 | +€156,702 | +1,212% |
| Amounts payable within one year | 42/48 | €12,767 | €169,631 | +€156,865 | +1,229% |
| Financial debts | 43 | €1,465 | €2,233 | +€768 | +52.4% |
| Credit institutions | 430/8 | €1,465 | €2,233 | +€768 | +52.4% |
| Trade debts | 44 | €7,868 | €108,974 | +€101,106 | +1,285% |
| Suppliers | 440/4 | €7,868 | €108,974 | +€101,106 | +1,285% |
| Advances received on contracts in progress | 46 | - | €2,432 | +€2,432 | |
| Taxes, remuneration and social security | 45 | €846 | €3,616 | +€2,771 | +328% |
| Taxes | 450/3 | €846 | €3,616 | +€2,771 | +328% |
| Other amounts payable | 47/48 | €2,588 | €52,376 | +€49,789 | +1,924% |
| Accrued charges and deferred income | 492/3 | €163 | - | -€163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,163 | €10,766 | +€1,603 | +17.5% |
| Other operating charges | 640/8 | €1,546 | €1,593 | +€47 | +3.1% |
| Gross operating margin | 9900 | -€66,340 | -€33,988 | +€32,352 | +48.8% |
| Operating profit (loss) | 9901 | -€77,049 | -€46,347 | +€30,702 | +39.8% |
| Financial income | 75/76B | €1 | €1 | +€0 | +11.6% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +11.6% |
| Financial charges | 65/66B | €583 | €709 | +€126 | +21.6% |
| Recurring financial charges | 65 | €583 | €709 | +€126 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | -€77,630 | -€47,054 | +€30,576 | +39.4% |
| Income taxes | 67/77 | €524 | €448 | -€76 | -14.4% |
| Profit (loss) for the period | 9904 | -€78,154 | -€47,503 | +€30,652 | +39.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,154 | -€47,503 | +€30,652 | +39.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.