G.M.F.ENGINEERING: 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.F.ENGINEERING
Largest movements
- Stocks and contracts +€643,662
new in 2024: €643,662
- Cash +€295,652
up €295,652 (+286%), from €103,301 to €398,953
mainly Accrued charges and deferred income (+€500,000) and Net result for the year (+€450,076)
- Tangible fixed assets +€159,095
up €159,095 (+12.8%), from €1.2m to €1.4m
- Accrued charges and deferred income +€500,000
up €500,000 (+238%), from €210,000 to €710,000
- Tax, wage and social debts +€228,611
up €228,611 (+125%), from €182,728 to €411,339
of which Taxes: +€226,933
- Trade debts +€178,580
up €178,580 (+26.3%), from €678,062 to €856,642
- Profit (loss) carried forward +€100,076
up €100,076 (+28.1%), from €356,252 to €456,328
- Other debts +€100,000
new in 2024: €100,000
- Gross operating margin +€226,957
up €226,957 (+41.3%), from €550,098 to €777,054
- Taxes +€68,364
up €68,364 (+62.3%), from €109,653 to €178,017
- Depreciation +€41,788
up €41,788 (+91.1%), from €45,884 to €87,671
- Staff costs -€34,836
down €34,836 (-42.5%), from €81,959 to €47,122
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,822,750 | €2,908,462 | +€1.1m | +59.6% |
| Fixed assets | 21/28 | €1,314,271 | €1,475,406 | +€161,135 | +12.3% |
| Tangible fixed assets | 22/27 | €1,243,341 | €1,402,436 | +€159,095 | +12.8% |
| Land and buildings | 22 | €1,143,918 | €1,223,014 | +€79,096 | +6.9% |
| Plant, machinery and equipment | 23 | - | €2,345 | +€2,345 | |
| Furniture and vehicles | 24 | €99,423 | €177,076 | +€77,653 | +78.1% |
| Other tangible fixed assets | 26 | €0 | - | -€0 | |
| Financial fixed assets | 28 | €70,930 | €72,970 | +€2,040 | +2.9% |
| Current assets | 29/58 | €508,479 | €1,433,057 | +€924,578 | +182% |
| Amounts receivable after more than one year | 29 | €42,666 | €42,666 | = | 0.0% |
| Other amounts receivable | 291 | €42,666 | €42,666 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €643,662 | +€643,662 | |
| Stocks | 30/36 | - | €643,662 | +€643,662 | |
| Amounts receivable within one year | 40/41 | €355,254 | €347,562 | -€7,692 | -2.2% |
| Trade receivables | 40 | €53,570 | - | -€53,570 | |
| Other amounts receivable | 41 | €301,684 | €347,562 | +€45,878 | +15.2% |
| Cash at bank and in hand | 54/58 | €103,301 | €398,953 | +€295,652 | +286% |
| Deferred charges and accrued income | 490/1 | €7,257 | €213 | -€7,044 | -97.1% |
| Total equity and liabilities | 10/49 | €1,822,750 | €2,908,462 | +€1.1m | +59.6% |
| Equity | 10/15 | €487,532 | €587,608 | +€100,076 | +20.5% |
| Contributions | 10/11 | €9,400 | €9,400 | = | 0.0% |
| Reserves | 13 | €121,880 | €121,880 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,880 | €1,880 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,880 | €1,880 | = | 0.0% |
| Distributable reserves | 133 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €356,252 | €456,328 | +€100,076 | +28.1% |
| Amounts payable | 17/49 | €1,335,218 | €2,320,854 | +€985,637 | +73.8% |
| Amounts payable after more than one year | 17 | €242,873 | €220,373 | -€22,500 | -9.3% |
| Financial debts | 170/4 | €242,873 | €220,373 | -€22,500 | -9.3% |
| Amounts payable within one year | 42/48 | €882,345 | €1,390,481 | +€508,137 | +57.6% |
| Current portion of amounts payable after more than one year | 42 | €21,554 | €22,500 | +€946 | +4.4% |
| Trade debts | 44 | €678,062 | €856,642 | +€178,580 | +26.3% |
| Suppliers | 440/4 | €678,062 | €856,642 | +€178,580 | +26.3% |
| Taxes, remuneration and social security | 45 | €182,728 | €411,339 | +€228,611 | +125% |
| Taxes | 450/3 | €182,728 | €409,662 | +€226,933 | +124% |
| Remuneration and social security | 454/9 | - | €1,678 | +€1,678 | |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Accrued charges and deferred income | 492/3 | €210,000 | €710,000 | +€500,000 | +238% |
| Remuneration, social security and pensions | 62 | €81,959 | €47,122 | -€34,836 | -42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,884 | €87,671 | +€41,788 | +91.1% |
| Other operating charges | 640/8 | €6,432 | €2,414 | -€4,017 | -62.5% |
| Gross operating margin | 9900 | €550,098 | €777,054 | +€226,957 | +41.3% |
| Operating profit (loss) | 9901 | €415,824 | €639,846 | +€224,022 | +53.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,946 | €11,753 | +€6,808 | +138% |
| Recurring financial charges | 65 | €4,946 | €11,753 | +€6,808 | +138% |
| Non-recurring financial charges | 66B | €4,946 | - | -€4,946 | |
| Profit (loss) for the period before taxes | 9903 | €410,878 | €628,093 | +€217,215 | +52.9% |
| Income taxes | 67/77 | €109,653 | €178,017 | +€68,364 | +62.3% |
| Profit (loss) for the period | 9904 | €301,225 | €450,076 | +€148,851 | +49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €301,225 | €450,076 | +€148,851 | +49.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.