GDW Innovations: what changed
Two fiscal 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.
GDW Innovations
Largest movements
- Intangible fixed assets +€311,502
up €311,502 (+159.3%), from €195,543 to €507,045
- Current investments -€33,825
no longer reported in 2025 (was €33,825)
- Cash +€30,855
new in 2025: €30,855
mainly Other debts (+€255,000) and Depreciation (+€88,354)
- Other debts +€255,000
up €255,000 (+318.8%), from €80,000 to €335,000
- Reserves +€40,339
up €40,339 (+143.0%), from €28,216 to €68,555
- Tax, wage and social debts +€19,818
up €19,818 (+562.3%), from €3,524 to €23,343
of which Remuneration and social security: +€17,465
- Trade debts -€7,678
down €7,678 (-20.3%), from €37,834 to €30,156
- Gross operating margin +€150,427
up €150,427 (+171.2%), from €87,865 to €238,292
- Staff costs +€102,662
up €102,662 (+1504.3%), from €6,824 to €109,486
- Depreciation +€43,204
up €43,204 (+95.7%), from €45,150 to €88,354
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.
Cash bridge derived
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 | €249,574 | €557,054 | +€307,480 | +123.2% |
| Fixed assets | 21/28 | €195,543 | €507,045 | +€311,502 | +159.3% |
| Intangible fixed assets | 21 | €195,543 | €507,045 | +€311,502 | +159.3% |
| Current assets | 29/58 | €54,031 | €50,009 | -€4,022 | -7.4% |
| Amounts receivable within one year | 40/41 | €20,207 | €19,013 | -€1,193 | -5.9% |
| Trade receivables | 40 | €1,815 | €19,013 | +€17,198 | +947.6% |
| Other amounts receivable | 41 | €18,392 | - | -€18,392 | |
| Current investments | 50/53 | €33,825 | - | -€33,825 | |
| Cash at bank and in hand | 54/58 | - | €30,855 | +€30,855 | |
| Deferred charges and accrued income | 490/1 | - | €141 | +€141 | |
| Total equity and liabilities | 10/49 | €249,574 | €557,054 | +€307,480 | +123.2% |
| Equity | 10/15 | €128,216 | €168,555 | +€40,339 | +31.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €28,216 | €68,555 | +€40,339 | +143.0% |
| Distributable reserves | 133 | €28,216 | €68,555 | +€40,339 | +143.0% |
| Amounts payable | 17/49 | €121,358 | €388,499 | +€267,140 | +220.1% |
| Amounts payable within one year | 42/48 | €121,358 | €388,499 | +€267,140 | +220.1% |
| Trade debts | 44 | €37,834 | €30,156 | -€7,678 | -20.3% |
| Suppliers | 440/4 | €37,834 | €30,156 | -€7,678 | -20.3% |
| Taxes, remuneration and social security | 45 | €3,524 | €23,343 | +€19,818 | +562.3% |
| Taxes | 450/3 | - | €2,353 | +€2,353 | |
| Remuneration and social security | 454/9 | €3,524 | €20,989 | +€17,465 | +495.6% |
| Other amounts payable | 47/48 | €80,000 | €335,000 | +€255,000 | +318.8% |
| Remuneration, social security and pensions | 62 | €6,824 | €109,486 | +€102,662 | +1504.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,150 | €88,354 | +€43,204 | +95.7% |
| Other operating charges | 640/8 | €956 | €39 | -€918 | -96.0% |
| Gross operating margin | 9900 | €87,865 | €238,292 | +€150,427 | +171.2% |
| Operating profit (loss) | 9901 | €34,934 | €40,413 | +€5,479 | +15.7% |
| Financial charges | 65/66B | - | €73 | +€73 | |
| Recurring financial charges | 65 | - | €73 | +€73 | |
| Profit (loss) for the period before taxes | 9903 | €34,934 | €40,339 | +€5,406 | +15.5% |
| Profit (loss) for the period | 9904 | €34,934 | €40,339 | +€5,406 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,934 | €40,339 | +€5,406 | +15.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.