GTD: what changed
GTD
Largest movements
- Cash +€105,658
up €105,658 (+331%), from €31,938 to €137,595
mainly Net result for the year (+€111,927) and Tax, wage and social debts (+€8,383)
- Receivables within one year +€20,096
up €20,096 (+86.1%), from €23,330 to €43,426
of which Trade receivables: +€23,452
- Reserves +€111,927
up €111,927 (+241%), from €46,352 to €158,279
- Tax, wage and social debts +€8,383
up €8,383 (+118%), from €7,092 to €15,474
- Trade debts +€5,204
up €5,204 (+430%), from €1,211 to €6,415
- Other debts +€1,869
up €1,869 (+97.1%), from €1,925 to €3,794
- Gross operating margin +€88,740
up €88,740 (+151%), from €58,754 to €147,494
- Taxes +€17,047
up €17,047 (+104%), from €16,429 to €33,475
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,579 | €185,962 | +€127,383 | +217% |
| Fixed assets | 21/28 | €1,584 | €2,389 | +€805 | +50.9% |
| Tangible fixed assets | 22/27 | €1,584 | €2,389 | +€805 | +50.9% |
| Plant, machinery and equipment | 23 | - | €1,149 | +€1,149 | |
| Other tangible fixed assets | 26 | €1,584 | €1,240 | -€344 | -21.7% |
| Current assets | 29/58 | €56,996 | €183,573 | +€126,577 | +222% |
| Amounts receivable within one year | 40/41 | €23,330 | €43,426 | +€20,096 | +86.1% |
| Trade receivables | 40 | €19,759 | €43,211 | +€23,452 | +119% |
| Other amounts receivable | 41 | €3,571 | €215 | -€3,356 | -94.0% |
| Cash at bank and in hand | 54/58 | €31,938 | €137,595 | +€105,658 | +331% |
| Deferred charges and accrued income | 490/1 | €1,728 | €2,552 | +€824 | +47.7% |
| Total equity and liabilities | 10/49 | €58,579 | €185,962 | +€127,383 | +217% |
| Equity | 10/15 | €48,352 | €160,279 | +€111,927 | +231% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €46,352 | €158,279 | +€111,927 | +241% |
| Distributable reserves | 133 | €46,352 | €158,279 | +€111,927 | +241% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €10,228 | €25,683 | +€15,456 | +151% |
| Amounts payable within one year | 42/48 | €10,228 | €25,683 | +€15,456 | +151% |
| Trade debts | 44 | €1,211 | €6,415 | +€5,204 | +430% |
| Suppliers | 440/4 | €1,211 | €6,415 | +€5,204 | +430% |
| Taxes, remuneration and social security | 45 | €7,092 | €15,474 | +€8,383 | +118% |
| Taxes | 450/3 | €7,092 | €15,474 | +€8,383 | +118% |
| Other amounts payable | 47/48 | €1,925 | €3,794 | +€1,869 | +97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136 | €544 | +€407 | +299% |
| Other operating charges | 640/8 | €118 | €220 | +€102 | +86.4% |
| Gross operating margin | 9900 | €58,754 | €147,494 | +€88,740 | +151% |
| Operating profit (loss) | 9901 | €58,500 | €146,731 | +€88,231 | +151% |
| Financial charges | 65/66B | €67 | €1,328 | +€1,261 | +1,877% |
| Recurring financial charges | 65 | €67 | €1,328 | +€1,261 | +1,877% |
| Profit (loss) for the period before taxes | 9903 | €58,433 | €145,403 | +€86,970 | +149% |
| Income taxes | 67/77 | €16,429 | €33,475 | +€17,047 | +104% |
| Profit (loss) for the period | 9904 | €42,004 | €111,927 | +€69,923 | +166% |
| Profit (loss) for the period to be appropriated | 9905 | €42,004 | €111,927 | +€69,923 | +166% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.