GBCD: 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.
GBCD
Largest movements
- Cash +€215,050
up €215,050 (+84.7%), from €253,762 to €468,812
mainly Net result for the year (+€298,091) and Other debts (+€225,000)
- Intangible fixed assets -€109,158
down €109,158 (-100%), from €109,158 to €0
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Tangible fixed assets -€19,172
down €19,172 (-11.2%), from €170,550 to €151,377
of which Furniture and vehicles: -€18,404
- Receivables within one year +€12,565
up €12,565 (+6.3%), from €200,000 to €212,565
of which Trade receivables: +€6,340
- Other debts +€225,000
up €225,000 (+129%), from €175,089 to €400,089
- Debts after one year -€134,169
down €134,169 (-41.4%), from €323,898 to €189,729
- Profit (loss) carried forward -€101,909
down €101,909 (-94.2%), from €108,177 to €6,268
- Trade debts +€23,667
up €23,667 (+35.4%), from €66,824 to €90,491
- Tax, wage and social debts -€22,542
down €22,542 (-23.5%), from €95,896 to €73,354
of which Taxes: -€32,185
- Gross operating margin +€38,094
up €38,094 (+3.8%), from €1.0m to €1.0m
- Depreciation -€26,522
down €26,522 (-15.3%), from €173,032 to €146,510
- Staff costs -€21,045
down €21,045 (-4.0%), from €528,257 to €507,212
- Taxes +€15,102
up €15,102 (+25.4%), from €59,404 to €74,506
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 | €1,008,583 | €1,004,099 | -€4,484 | -0.4% |
| Fixed assets | 21/28 | €279,708 | €151,377 | -€128,330 | -45.9% |
| Intangible fixed assets | 21 | €109,158 | €0 | -€109,158 | -100% |
| Tangible fixed assets | 22/27 | €170,550 | €151,377 | -€19,172 | -11.2% |
| Furniture and vehicles | 24 | €72,325 | €53,921 | -€18,404 | -25.4% |
| Other tangible fixed assets | 26 | €98,225 | €97,457 | -€768 | -0.8% |
| Current assets | 29/58 | €728,875 | €852,722 | +€123,846 | +17.0% |
| Amounts receivable within one year | 40/41 | €200,000 | €212,565 | +€12,565 | +6.3% |
| Trade receivables | 40 | - | €6,340 | +€6,340 | |
| Other amounts receivable | 41 | €200,000 | €206,225 | +€6,225 | +3.1% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €253,762 | €468,812 | +€215,050 | +84.7% |
| Deferred charges and accrued income | 490/1 | €175,113 | €171,345 | -€3,769 | -2.2% |
| Total equity and liabilities | 10/49 | €1,008,583 | €1,004,099 | -€4,484 | -0.4% |
| Equity | 10/15 | €218,177 | €116,268 | -€101,909 | -46.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,177 | €6,268 | -€101,909 | -94.2% |
| Amounts payable | 17/49 | €790,406 | €887,831 | +€97,425 | +12.3% |
| Amounts payable after more than one year | 17 | €323,898 | €189,729 | -€134,169 | -41.4% |
| Financial debts | 170/4 | €323,898 | €189,729 | -€134,169 | -41.4% |
| Amounts payable within one year | 42/48 | €461,390 | €698,102 | +€236,713 | +51.3% |
| Current portion of amounts payable after more than one year | 42 | €123,581 | €134,169 | +€10,588 | +8.6% |
| Trade debts | 44 | €66,824 | €90,491 | +€23,667 | +35.4% |
| Suppliers | 440/4 | €66,824 | €90,491 | +€23,667 | +35.4% |
| Taxes, remuneration and social security | 45 | €95,896 | €73,354 | -€22,542 | -23.5% |
| Taxes | 450/3 | €32,511 | €326 | -€32,185 | -99.0% |
| Remuneration and social security | 454/9 | €63,385 | €73,028 | +€9,643 | +15.2% |
| Other amounts payable | 47/48 | €175,089 | €400,089 | +€225,000 | +129% |
| Accrued charges and deferred income | 492/3 | €5,119 | €0 | -€5,119 | -100% |
| Remuneration, social security and pensions | 62 | €528,257 | €507,212 | -€21,045 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,032 | €146,510 | -€26,522 | -15.3% |
| Other operating charges | 640/8 | €3,380 | €10,221 | +€6,840 | +202% |
| Gross operating margin | 9900 | €1,001,550 | €1,039,644 | +€38,094 | +3.8% |
| Operating profit (loss) | 9901 | €296,880 | €375,700 | +€78,820 | +26.5% |
| Financial income | 75/76B | €6,311 | €2,437 | -€3,874 | -61.4% |
| Recurring financial income | 75 | €6,311 | €2,437 | -€3,874 | -61.4% |
| Financial charges | 65/66B | €7,160 | €5,540 | -€1,620 | -22.6% |
| Recurring financial charges | 65 | €7,160 | €5,540 | -€1,620 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €296,031 | €372,598 | +€76,567 | +25.9% |
| Income taxes | 67/77 | €59,404 | €74,506 | +€15,102 | +25.4% |
| Profit (loss) for the period | 9904 | €236,626 | €298,091 | +€61,465 | +26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €236,626 | €298,091 | +€61,465 | +26.0% |
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 24 October 2026 via checked.be.