G.M.A. GROUP: 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.M.A. GROUP
Largest movements
- Receivables within one year +€16,377
up €16,377 (+670%), from €2,444 to €18,821
of which Trade receivables: +€13,107
- Cash +€2,182
up €2,182 (+18.8%), from €11,593 to €13,775
mainly Net result for the year (+€21,491) and Depreciation (+€15,495)
- Profit (loss) carried forward +€21,491
up €21,491 (+174%), from €12,319 to €33,810
- Debts after one year -€8,103
down €8,103 (-54.0%), from €15,000 to €6,897
of which Other amounts payable: -€15,000
- Other debts -€6,535
down €6,535 (-51.5%), from €12,678 to €6,143
- Trade debts +€6,482
up €6,482 (+207%), from €3,126 to €9,608
- Tax, wage and social debts +€4,760
up €4,760 (+132%), from €3,615 to €8,375
of which Remuneration and social security: +€6,380
- Gross operating margin +€54,437
up €54,437 (+243%), from €22,433 to €76,870
- Staff costs +€31,625
new in 2025: €31,625
- Depreciation +€3,997
up €3,997 (+34.8%), from €11,498 to €15,495
- Taxes +€3,484
up €3,484 (+108%), from €3,233 to €6,717
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 | €48,915 | €68,204 | +€19,289 | +39.4% |
| Fixed assets | 21/28 | €34,794 | €35,153 | +€359 | +1.0% |
| Tangible fixed assets | 22/27 | €34,794 | €35,153 | +€359 | +1.0% |
| Furniture and vehicles | 24 | €34,794 | €35,153 | +€359 | +1.0% |
| Current assets | 29/58 | €14,121 | €33,052 | +€18,931 | +134% |
| Amounts receivable within one year | 40/41 | €2,444 | €18,821 | +€16,377 | +670% |
| Trade receivables | 40 | €2,444 | €15,551 | +€13,107 | +536% |
| Other amounts receivable | 41 | - | €3,269 | +€3,269 | |
| Cash at bank and in hand | 54/58 | €11,593 | €13,775 | +€2,182 | +18.8% |
| Deferred charges and accrued income | 490/1 | €84 | €456 | +€372 | +443% |
| Total equity and liabilities | 10/49 | €48,915 | €68,204 | +€19,289 | +39.4% |
| Equity | 10/15 | €12,320 | €33,811 | +€21,491 | +174% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,319 | €33,810 | +€21,491 | +174% |
| Amounts payable | 17/49 | €36,595 | €34,393 | -€2,202 | -6.0% |
| Amounts payable after more than one year | 17 | €15,000 | €6,897 | -€8,103 | -54.0% |
| Financial debts | 170/4 | - | €6,897 | +€6,897 | |
| Other amounts payable | 178/9 | €15,000 | - | -€15,000 | |
| Amounts payable within one year | 42/48 | €21,595 | €27,497 | +€5,902 | +27.3% |
| Current portion of amounts payable after more than one year | 42 | - | €2,765 | +€2,765 | |
| Financial debts | 43 | €2,176 | €605 | -€1,571 | -72.2% |
| Other loans | 439 | €2,176 | €605 | -€1,571 | -72.2% |
| Trade debts | 44 | €3,126 | €9,608 | +€6,482 | +207% |
| Suppliers | 440/4 | €3,126 | €9,608 | +€6,482 | +207% |
| Taxes, remuneration and social security | 45 | €3,615 | €8,375 | +€4,760 | +132% |
| Taxes | 450/3 | €3,615 | €1,996 | -€1,619 | -44.8% |
| Remuneration and social security | 454/9 | - | €6,380 | +€6,380 | |
| Other amounts payable | 47/48 | €12,678 | €6,143 | -€6,535 | -51.5% |
| Remuneration, social security and pensions | 62 | - | €31,625 | +€31,625 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,498 | €15,495 | +€3,997 | +34.8% |
| Other operating charges | 640/8 | €537 | €1,168 | +€631 | +118% |
| Gross operating margin | 9900 | €22,433 | €76,870 | +€54,437 | +243% |
| Operating profit (loss) | 9901 | €10,398 | €28,581 | +€18,183 | +175% |
| Financial charges | 65/66B | €40 | €373 | +€333 | +833% |
| Recurring financial charges | 65 | €40 | €373 | +€333 | +833% |
| Profit (loss) for the period before taxes | 9903 | €10,358 | €28,208 | +€17,850 | +172% |
| Income taxes | 67/77 | €3,233 | €6,717 | +€3,484 | +108% |
| Profit (loss) for the period | 9904 | €7,125 | €21,491 | +€14,366 | +202% |
| Profit (loss) for the period to be appropriated | 9905 | €7,125 | €21,491 | +€14,366 | +202% |
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 22 October 2026 via checked.be.