GOURDIN: 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.
GOURDIN
Largest movements
- Stocks and contracts +€80,546
up €80,546 (+20.9%), from €384,933 to €465,480
- Receivables within one year -€60,061
down €60,061 (-50.5%), from €118,969 to €58,908
of which Trade receivables: -€80,156
- Cash -€40,309
down €40,309 (-45.4%), from €88,876 to €48,567
mainly Stocks and contracts (-€80,546) and Current portion of long-term debt (-€67,901)
- Tangible fixed assets -€36,384
down €36,384 (-4.6%), from €799,493 to €763,109
of which Land and buildings: -€24,920
- Trade debts +€138,773
up €138,773 (+32.0%), from €433,473 to €572,246
- Current portion of long-term debt -€67,901
down €67,901 (-65.0%), from €104,395 to €36,494
- Short-term financial debts -€65,810
down €65,810 (-22.7%), from €289,986 to €224,175
- Revaluation surpluses -€24,920
down €24,920 (-16.0%), from €155,401 to €130,481
- Tax, wage and social debts -€22,496
down €22,496 (-28.7%), from €78,272 to €55,777
of which Taxes: -€17,264
- Gross operating margin -€97,697
down €97,697 (-25.5%), from €383,405 to €285,708
- Taxes -€25,071
down €25,071 (-93.7%), from €26,749 to €1,678
- Depreciation -€3,904
down €3,904 (-9.4%), from €41,619 to €37,715
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,530,154 | €1,479,857 | -€50,297 | -3.3% |
| Fixed assets | 21/28 | €934,298 | €897,913 | -€36,384 | -3.9% |
| Intangible fixed assets | 21 | €134,805 | €134,805 | = | 0.0% |
| Tangible fixed assets | 22/27 | €799,493 | €763,109 | -€36,384 | -4.6% |
| Land and buildings | 22 | €761,839 | €736,919 | -€24,920 | -3.3% |
| Plant, machinery and equipment | 23 | €36,568 | €25,546 | -€11,022 | -30.1% |
| Furniture and vehicles | 24 | €1,086 | €643 | -€443 | -40.8% |
| Current assets | 29/58 | €595,856 | €581,944 | -€13,912 | -2.3% |
| Stocks and contracts in progress | 3 | €384,933 | €465,480 | +€80,546 | +20.9% |
| Stocks | 30/36 | €384,933 | €465,480 | +€80,546 | +20.9% |
| Amounts receivable within one year | 40/41 | €118,969 | €58,908 | -€60,061 | -50.5% |
| Trade receivables | 40 | €118,876 | €38,720 | -€80,156 | -67.4% |
| Other amounts receivable | 41 | €93 | €20,188 | +€20,096 | +21,629% |
| Cash at bank and in hand | 54/58 | €88,876 | €48,567 | -€40,309 | -45.4% |
| Deferred charges and accrued income | 490/1 | €3,077 | €8,989 | +€5,911 | +192% |
| Total equity and liabilities | 10/49 | €1,530,154 | €1,479,857 | -€50,297 | -3.3% |
| Equity | 10/15 | €365,453 | €341,229 | -€24,225 | -6.6% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Revaluation surpluses | 12 | €155,401 | €130,481 | -€24,920 | -16.0% |
| Reserves | 13 | €16,075 | €16,075 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,439 | €7,439 | = | 0.0% |
| Legal reserve | 130 | €7,439 | €7,439 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,146 | €1,146 | = | 0.0% |
| Distributable reserves | 133 | €7,491 | €7,491 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,609 | €120,304 | +€695 | +0.6% |
| Amounts payable | 17/49 | €1,164,701 | €1,138,629 | -€26,072 | -2.2% |
| Amounts payable after more than one year | 17 | €66,225 | €55,587 | -€10,638 | -16.1% |
| Financial debts | 170/4 | €41,441 | €30,803 | -€10,638 | -25.7% |
| Other amounts payable | 178/9 | €24,783 | €24,783 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,098,476 | €1,083,042 | -€15,434 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €104,395 | €36,494 | -€67,901 | -65.0% |
| Financial debts | 43 | €289,986 | €224,175 | -€65,810 | -22.7% |
| Credit institutions | 430/8 | €289,986 | €224,175 | -€65,810 | -22.7% |
| Trade debts | 44 | €433,473 | €572,246 | +€138,773 | +32.0% |
| Suppliers | 440/4 | €433,473 | €572,246 | +€138,773 | +32.0% |
| Advances received on contracts in progress | 46 | - | €10,000 | +€10,000 | |
| Taxes, remuneration and social security | 45 | €78,272 | €55,777 | -€22,496 | -28.7% |
| Taxes | 450/3 | €45,793 | €28,528 | -€17,264 | -37.7% |
| Remuneration and social security | 454/9 | €32,480 | €27,249 | -€5,231 | -16.1% |
| Other amounts payable | 47/48 | €192,350 | €184,350 | -€8,000 | -4.2% |
| Non-recurring operating income | 76A | €24,920 | €24,920 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €210,719 | €208,757 | -€1,961 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,619 | €37,715 | -€3,904 | -9.4% |
| Other operating charges | 640/8 | €9,021 | €8,380 | -€641 | -7.1% |
| Gross operating margin | 9900 | €383,405 | €285,708 | -€97,697 | -25.5% |
| Operating profit (loss) | 9901 | €122,046 | €30,857 | -€91,190 | -74.7% |
| Financial income | 75/76B | €40 | €1 | -€39 | -97.4% |
| Recurring financial income | 75 | €40 | €1 | -€39 | -97.4% |
| Financial charges | 65/66B | €25,012 | €28,485 | +€3,473 | +13.9% |
| Recurring financial charges | 65 | €25,012 | €28,485 | +€3,473 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €97,075 | €2,373 | -€94,702 | -97.6% |
| Income taxes | 67/77 | €26,749 | €1,678 | -€25,071 | -93.7% |
| Profit (loss) for the period | 9904 | €70,326 | €695 | -€69,631 | -99.0% |
| Profit (loss) for the period to be appropriated | 9905 | €70,326 | €695 | -€69,631 | -99.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.