G.C.M.: 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.
G.C.M.
Largest movements
- Receivables within one year -€104,667
down €104,667 (-13.4%), from €782,353 to €677,686
- Profit (loss) carried forward -€54,218
down €54,218 (-28.1%), from -€193,213 to -€247,431
- Trade debts -€40,013
down €40,013 (-87.9%), from €45,537 to €5,524
- Gross operating margin +€18,687
up €18,687 (+36.4%), from -€51,381 to -€32,693
- Financial income +€2,188
up €2,188 (+24.3%), from €9,002 to €11,190
- Other operating charges +€1,996
up €1,996 (+72.1%), from €2,771 to €4,767
- Depreciation +€745
up €745 (+280%), from €266 to €1,011
- Taxes +€633
up €633 (+3.3%), from €19,035 to €19,668
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 | €802,612 | €706,140 | -€96,472 | -12.0% |
| Fixed assets | 21/28 | €4,256 | €6,190 | +€1,934 | +45.4% |
| Tangible fixed assets | 22/27 | €2,046 | €3,980 | +€1,934 | +94.5% |
| Plant, machinery and equipment | 23 | €2,046 | €1,584 | -€462 | -22.6% |
| Furniture and vehicles | 24 | - | €2,396 | +€2,396 | |
| Financial fixed assets | 28 | €2,210 | €2,210 | = | 0.0% |
| Current assets | 29/58 | €798,356 | €699,950 | -€98,406 | -12.3% |
| Amounts receivable within one year | 40/41 | €782,353 | €677,686 | -€104,667 | -13.4% |
| Other amounts receivable | 41 | €782,353 | €677,686 | -€104,667 | -13.4% |
| Cash at bank and in hand | 54/58 | €5,691 | €10,510 | +€4,819 | +84.7% |
| Deferred charges and accrued income | 490/1 | €10,312 | €11,754 | +€1,442 | +14.0% |
| Total equity and liabilities | 10/49 | €802,612 | €706,140 | -€96,472 | -12.0% |
| Equity | 10/15 | €625,418 | €571,200 | -€54,218 | -8.7% |
| Contributions | 10/11 | €144,278 | €144,278 | = | 0.0% |
| Reserves | 13 | €674,353 | €674,353 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,428 | €14,428 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,428 | €14,428 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,574 | €70,574 | = | 0.0% |
| Distributable reserves | 133 | €589,352 | €589,352 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€193,213 | -€247,431 | -€54,218 | -28.1% |
| Amounts payable | 17/49 | €177,194 | €134,940 | -€42,254 | -23.8% |
| Amounts payable within one year | 42/48 | €177,194 | €134,849 | -€42,345 | -23.9% |
| Trade debts | 44 | €45,537 | €5,524 | -€40,013 | -87.9% |
| Suppliers | 440/4 | €45,537 | €5,524 | -€40,013 | -87.9% |
| Taxes, remuneration and social security | 45 | €131,657 | €129,326 | -€2,331 | -1.8% |
| Taxes | 450/3 | €131,657 | €129,326 | -€2,331 | -1.8% |
| Accrued charges and deferred income | 492/3 | - | €91 | +€91 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €266 | €1,011 | +€745 | +280% |
| Other operating charges | 640/8 | €2,771 | €4,767 | +€1,996 | +72.1% |
| Gross operating margin | 9900 | -€51,381 | -€32,693 | +€18,687 | +36.4% |
| Operating profit (loss) | 9901 | -€54,417 | -€38,471 | +€15,946 | +29.3% |
| Financial income | 75/76B | €9,002 | €11,190 | +€2,188 | +24.3% |
| Recurring financial income | 75 | €9,002 | €11,190 | +€2,188 | +24.3% |
| Financial charges | 65/66B | €7,039 | €7,268 | +€229 | +3.3% |
| Recurring financial charges | 65 | €7,039 | €7,268 | +€229 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | -€52,455 | -€34,550 | +€17,905 | +34.1% |
| Income taxes | 67/77 | €19,035 | €19,668 | +€633 | +3.3% |
| Profit (loss) for the period | 9904 | -€71,490 | -€54,218 | +€17,272 | +24.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,490 | -€54,218 | +€17,272 | +24.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.