GSD HOLDING: 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.
GSD HOLDING
Largest movements
- Receivables within one year +€3,457
up €3,457 (+4.2%), from €82,455 to €85,912
of which Other amounts receivable: +€14,694
- Profit (loss) carried forward +€27,319
up €27,319 (+27.4%), from €99,720 to €127,039
- Debts after one year -€19,446
down €19,446 (-14.1%), from €138,329 to €118,883
- Current portion of long-term debt +€10,505
up €10,505 (+53.7%), from €19,566 to €30,071
- Other debts -€8,926
down €8,926 (-22.9%), from €38,926 to €30,000
- Tax, wage and social debts -€5,372
down €5,372 (-28.2%), from €19,078 to €13,706
of which Taxes: -€5,372
- Financial charges -€614
down €614 (-11.8%), from €5,184 to €4,570
- Gross operating margin -€586
down €586 (-1.0%), from €57,990 to €57,405
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 | €336,194 | €340,477 | +€4,283 | +1.3% |
| Fixed assets | 21/28 | €250,065 | €250,065 | = | 0.0% |
| Financial fixed assets | 28 | €250,065 | €250,065 | = | 0.0% |
| Current assets | 29/58 | €86,129 | €90,412 | +€4,283 | +5.0% |
| Amounts receivable within one year | 40/41 | €82,455 | €85,912 | +€3,457 | +4.2% |
| Trade receivables | 40 | €66,246 | €55,009 | -€11,237 | -17.0% |
| Other amounts receivable | 41 | €16,209 | €30,903 | +€14,694 | +90.7% |
| Cash at bank and in hand | 54/58 | €3,674 | €4,500 | +€826 | +22.5% |
| Total equity and liabilities | 10/49 | €336,194 | €340,477 | +€4,283 | +1.3% |
| Equity | 10/15 | €119,720 | €147,039 | +€27,319 | +22.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,720 | €127,039 | +€27,319 | +27.4% |
| Amounts payable | 17/49 | €216,474 | €193,438 | -€23,036 | -10.6% |
| Amounts payable after more than one year | 17 | €138,329 | €118,883 | -€19,446 | -14.1% |
| Financial debts | 170/4 | €138,329 | €118,883 | -€19,446 | -14.1% |
| Amounts payable within one year | 42/48 | €78,145 | €74,502 | -€3,643 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €19,566 | €30,071 | +€10,505 | +53.7% |
| Trade debts | 44 | €575 | €724 | +€149 | +25.9% |
| Suppliers | 440/4 | €575 | €724 | +€149 | +25.9% |
| Taxes, remuneration and social security | 45 | €19,078 | €13,706 | -€5,372 | -28.2% |
| Taxes | 450/3 | €18,918 | €13,546 | -€5,372 | -28.4% |
| Remuneration and social security | 454/9 | €160 | €160 | = | 0.0% |
| Other amounts payable | 47/48 | €38,926 | €30,000 | -€8,926 | -22.9% |
| Accrued charges and deferred income | 492/3 | - | €53 | +€53 | |
| Gross operating margin | 9900 | €57,990 | €57,405 | -€586 | -1.0% |
| Operating profit (loss) | 9901 | €57,990 | €57,405 | -€586 | -1.0% |
| Financial income | 75/76B | €20,000 | €20,000 | = | 0.0% |
| Recurring financial income | 75 | €20,000 | €20,000 | = | 0.0% |
| Financial charges | 65/66B | €5,184 | €4,570 | -€614 | -11.8% |
| Recurring financial charges | 65 | €5,184 | €4,570 | -€614 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €72,807 | €72,835 | +€28 | 0.0% |
| Income taxes | 67/77 | €10,670 | €10,516 | -€154 | -1.4% |
| Profit (loss) for the period | 9904 | €62,137 | €62,319 | +€182 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €62,137 | €62,319 | +€182 | +0.3% |
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 20 October 2026 via checked.be.