GDLEX: 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.
GDLEX
Largest movements
- Current investments +€99,307
up €99,307 (+265%), from €37,471 to €136,778
- Receivables within one year -€46,850
down €46,850 (-58.4%), from €80,190 to €33,340
of which Other amounts receivable: -€28,196
- Cash -€32,749
down €32,749 (-38.3%), from €85,533 to €52,784
mainly Contributions, distributions and other (-€149,000) and Current investments (-€99,307)
- Other debts +€28,700
up €28,700 (+37.8%), from €75,982 to €104,682
- Tax, wage and social debts +€20,823
up €20,823 (+58.1%), from €35,811 to €56,633
- Short-term financial debts -€16,728
no longer reported in 2025 (was €16,728)
- Trade debts -€12,316
down €12,316 (-76.9%), from €16,024 to €3,708
- Gross operating margin +€79,025
up €79,025 (+64.2%), from €123,167 to €202,192
- Taxes +€19,106
up €19,106 (+61.8%), from €30,939 to €50,045
- Other operating charges +€2,881
up €2,881 (+456%), from €632 to €3,514
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 | €206,876 | €226,880 | +€20,004 | +9.7% |
| Fixed assets | 21/28 | €75 | €75 | = | 0.0% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €206,801 | €226,805 | +€20,004 | +9.7% |
| Amounts receivable within one year | 40/41 | €80,190 | €33,340 | -€46,850 | -58.4% |
| Trade receivables | 40 | €51,945 | €33,290 | -€18,655 | -35.9% |
| Other amounts receivable | 41 | €28,246 | €50 | -€28,196 | -99.8% |
| Current investments | 50/53 | €37,471 | €136,778 | +€99,307 | +265% |
| Cash at bank and in hand | 54/58 | €85,533 | €52,784 | -€32,749 | -38.3% |
| Deferred charges and accrued income | 490/1 | €3,607 | €3,902 | +€296 | +8.2% |
| Total equity and liabilities | 10/49 | €206,876 | €226,880 | +€20,004 | +9.7% |
| Equity | 10/15 | €62,302 | €61,797 | -€505 | -0.8% |
| Contributions | 10/11 | €17,630 | €17,630 | = | 0.0% |
| Reserves | 13 | €43,762 | €43,762 | = | 0.0% |
| Distributable reserves | 133 | €43,762 | €43,762 | = | 0.0% |
| Profit (loss) carried forward | 14 | €910 | €405 | -€505 | -55.5% |
| Amounts payable | 17/49 | €144,574 | €165,083 | +€20,509 | +14.2% |
| Amounts payable within one year | 42/48 | €144,544 | €165,023 | +€20,479 | +14.2% |
| Financial debts | 43 | €16,728 | - | -€16,728 | |
| Other loans | 439 | €16,728 | - | -€16,728 | |
| Trade debts | 44 | €16,024 | €3,708 | -€12,316 | -76.9% |
| Suppliers | 440/4 | €16,024 | €3,708 | -€12,316 | -76.9% |
| Taxes, remuneration and social security | 45 | €35,811 | €56,633 | +€20,823 | +58.1% |
| Taxes | 450/3 | €35,811 | €56,633 | +€20,823 | +58.1% |
| Other amounts payable | 47/48 | €75,982 | €104,682 | +€28,700 | +37.8% |
| Accrued charges and deferred income | 492/3 | €29 | €60 | +€30 | +104% |
| Other operating charges | 640/8 | €632 | €3,514 | +€2,881 | +456% |
| Gross operating margin | 9900 | €123,167 | €202,192 | +€79,025 | +64.2% |
| Operating profit (loss) | 9901 | €122,535 | €198,678 | +€76,144 | +62.1% |
| Financial income | 75/76B | €449 | €555 | +€106 | +23.6% |
| Recurring financial income | 75 | €449 | €555 | +€106 | +23.6% |
| Financial charges | 65/66B | €990 | €694 | -€296 | -29.9% |
| Recurring financial charges | 65 | €990 | €694 | -€296 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €121,994 | €198,539 | +€76,545 | +62.7% |
| Income taxes | 67/77 | €30,939 | €50,045 | +€19,106 | +61.8% |
| Profit (loss) for the period | 9904 | €91,055 | €148,495 | +€57,439 | +63.1% |
| Profit (loss) for the period to be appropriated | 9905 | €91,055 | €148,495 | +€57,439 | +63.1% |
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 28 October 2026 via checked.be.