GDW Consult: 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 Consult
Largest movements
- Cash +€79,183
up €79,183 (+97.4%), from €81,276 to €160,459
mainly Net result for the year (+€71,783) and Receivables within one year (+€17,768)
- Receivables within one year -€17,768
down €17,768 (-91.8%), from €19,360 to €1,592
of which Trade receivables: -€18,816
- Deferred charges and accrued income +€5,352
new in 2025: €5,352
- Tangible fixed assets +€3,174
up €3,174 (+364.3%), from €871 to €4,046
of which Plant, machinery and equipment: +€3,518
- Reserves +€70,950
up €70,950 (+86.5%), from €81,996 to €152,947
- Tax, wage and social debts -€4,084
down €4,084 (-24.7%), from €16,499 to €12,416
- Trade debts +€2,643
up €2,643 (+825.0%), from €320 to €2,963
- Gross operating margin -€10,238
down €10,238 (-9.7%), from €105,967 to €95,730
- Taxes -€1,334
down €1,334 (-6.1%), from €21,750 to €20,416
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 | €103,418 | €172,909 | +€69,491 | +67.2% |
| Formation expenses | 20 | €1,910 | €1,461 | -€450 | -23.5% |
| Fixed assets | 21/28 | €871 | €4,046 | +€3,174 | +364.3% |
| Tangible fixed assets | 22/27 | €871 | €4,046 | +€3,174 | +364.3% |
| Plant, machinery and equipment | 23 | - | €3,518 | +€3,518 | |
| Furniture and vehicles | 24 | €871 | €528 | -€344 | -39.5% |
| Current assets | 29/58 | €100,636 | €167,403 | +€66,767 | +66.3% |
| Amounts receivable within one year | 40/41 | €19,360 | €1,592 | -€17,768 | -91.8% |
| Trade receivables | 40 | €19,360 | €545 | -€18,816 | -97.2% |
| Other amounts receivable | 41 | - | €1,048 | +€1,048 | |
| Cash at bank and in hand | 54/58 | €81,276 | €160,459 | +€79,183 | +97.4% |
| Deferred charges and accrued income | 490/1 | - | €5,352 | +€5,352 | |
| Total equity and liabilities | 10/49 | €103,418 | €172,909 | +€69,491 | +67.2% |
| Equity | 10/15 | €85,996 | €156,947 | +€70,950 | +82.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €81,996 | €152,947 | +€70,950 | +86.5% |
| Distributable reserves | 133 | €81,996 | €152,947 | +€70,950 | +86.5% |
| Amounts payable | 17/49 | €17,421 | €15,962 | -€1,459 | -8.4% |
| Amounts payable within one year | 42/48 | €17,421 | €15,962 | -€1,459 | -8.4% |
| Trade debts | 44 | €320 | €2,963 | +€2,643 | +825.0% |
| Suppliers | 440/4 | €320 | €2,963 | +€2,643 | +825.0% |
| Taxes, remuneration and social security | 45 | €16,499 | €12,416 | -€4,084 | -24.7% |
| Taxes | 450/3 | €16,499 | €12,416 | -€4,084 | -24.7% |
| Other amounts payable | 47/48 | €601 | €583 | -€18 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €499 | €1,050 | +€551 | +110.4% |
| Other operating charges | 640/8 | €106 | €671 | +€565 | +535.8% |
| Gross operating margin | 9900 | €105,967 | €95,730 | -€10,238 | -9.7% |
| Operating profit (loss) | 9901 | €105,363 | €94,009 | -€11,354 | -10.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €758 | €1,810 | +€1,052 | +138.8% |
| Recurring financial charges | 65 | €758 | €1,810 | +€1,052 | +138.8% |
| Profit (loss) for the period before taxes | 9903 | €104,605 | €92,199 | -€12,406 | -11.9% |
| Income taxes | 67/77 | €21,750 | €20,416 | -€1,334 | -6.1% |
| Profit (loss) for the period | 9904 | €82,855 | €71,783 | -€11,072 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €82,855 | €71,783 | -€11,072 | -13.4% |
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 5 October 2026 via checked.be.