G M FINANCES: what changed
What changed
G M FINANCES
NACE 66.220, Insurance agents and brokers
filed annual accounts (NBB)
Net result for the year
€11,260
2024 · €3,093+€8,167
Equity
€106,531
2024 · €95,271+€11,260
Cash
€86
2024 · -+€86
Balance sheet total
€204,532
2024 · €237,277-€32,745
Largest movements
Assets
- Intangible fixed assets -€31,459
down €31,459 (-33.2%), from €94,757 to €63,298
- Deferred charges and accrued income -€20,233
down €20,233 (-80.6%), from €25,104 to €4,871
- Receivables within one year +€17,667
new in 2025: €17,667
Equity and liabilities
- Debts after one year -€31,090
down €31,090 (-45.4%), from €68,437 to €37,347
- Profit (loss) carried forward +€11,260
up €11,260 (+15.1%), from €74,811 to €86,071
- Trade debts -€9,549
down €9,549 (-65.1%), from €14,660 to €5,111
- Other debts -€4,050
down €4,050 (-81.0%), from €5,000 to €950
Income statement
- Gross operating margin -€55,197
down €55,197 (-25.3%), from €218,101 to €162,904
- Staff costs -€40,602
down €40,602 (-28.5%), from €142,503 to €101,901
- Depreciation -€17,323
down €17,323 (-31.3%), from €55,353 to €38,030
- Other operating charges -€4,604
down €4,604 (-62.3%), from €7,386 to €2,782
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€3,093
Gross operating margin
-€55,197
Staff costs
+€40,602
Depreciation
+€17,323
Other operating charges
+€4,604
Financial income
+€94
Financial charges
+€764
Taxes
-€22
Result 2025
€11,260
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€36,985
Investment
-€6,312
Financing
-€30,587
Cash 2024
€0
From operations (derived)
+€36,985
Net result for the year
+€11,260
Depreciation
+€38,030
Receivables after one year
-€1,454
Receivables within one year
-€17,667
Deferred charges and accrued income
+€20,233
Trade debts
-€9,549
Tax, wage and social debts
+€132
Other debts
-€4,050
Accrued charges and deferred income
+€50
Investment (derived)
-€6,312
Investment in fixed assets (net)
-€6,312
Financing
-€30,587
Debts after one year
-€31,090
Current portion of long-term debt
+€512
Short-term financial debts
-€10
Cash 2025
€86
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €237,277 | €204,532 | -€32,745 | -13.8% |
| Fixed assets | 21/28 | €120,190 | €88,471 | -€31,718 | -26.4% |
| Intangible fixed assets | 21 | €94,757 | €63,298 | -€31,459 | -33.2% |
| Tangible fixed assets | 22/27 | €25,433 | €25,174 | -€259 | -1.0% |
| Furniture and vehicles | 24 | €1,965 | €5,571 | +€3,607 | +184% |
| Other tangible fixed assets | 26 | €23,468 | €19,602 | -€3,866 | -16.5% |
| Current assets | 29/58 | €117,087 | €116,061 | -€1,026 | -0.9% |
| Amounts receivable after more than one year | 29 | €91,983 | €93,438 | +€1,454 | +1.6% |
| Other amounts receivable | 291 | €91,983 | €93,438 | +€1,454 | +1.6% |
| Amounts receivable within one year | 40/41 | - | €17,667 | +€17,667 | |
| Trade receivables | 40 | - | €17,667 | +€17,667 | |
| Cash at bank and in hand | 54/58 | - | €86 | +€86 | |
| Deferred charges and accrued income | 490/1 | €25,104 | €4,871 | -€20,233 | -80.6% |
| Total equity and liabilities | 10/49 | €237,277 | €204,532 | -€32,745 | -13.8% |
| Equity | 10/15 | €95,271 | €106,531 | +€11,260 | +11.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,811 | €86,071 | +€11,260 | +15.1% |
| Amounts payable | 17/49 | €142,006 | €98,001 | -€44,005 | -31.0% |
| Amounts payable after more than one year | 17 | €68,437 | €37,347 | -€31,090 | -45.4% |
| Financial debts | 170/4 | €68,437 | €37,347 | -€31,090 | -45.4% |
| Amounts payable within one year | 42/48 | €71,019 | €58,054 | -€12,965 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €30,578 | €31,090 | +€512 | +1.7% |
| Financial debts | 43 | €4,973 | €4,964 | -€10 | -0.2% |
| Credit institutions | 430/8 | €4,973 | €4,964 | -€10 | -0.2% |
| Trade debts | 44 | €14,660 | €5,111 | -€9,549 | -65.1% |
| Suppliers | 440/4 | €14,660 | €5,111 | -€9,549 | -65.1% |
| Taxes, remuneration and social security | 45 | €15,808 | €15,940 | +€132 | +0.8% |
| Taxes | 450/3 | €2,798 | €3,118 | +€320 | +11.4% |
| Remuneration and social security | 454/9 | €13,010 | €12,822 | -€188 | -1.4% |
| Other amounts payable | 47/48 | €5,000 | €950 | -€4,050 | -81.0% |
| Accrued charges and deferred income | 492/3 | €2,550 | €2,600 | +€50 | +2.0% |
| Remuneration, social security and pensions | 62 | €142,503 | €101,901 | -€40,602 | -28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,353 | €38,030 | -€17,323 | -31.3% |
| Other operating charges | 640/8 | €7,386 | €2,782 | -€4,604 | -62.3% |
| Gross operating margin | 9900 | €218,101 | €162,904 | -€55,197 | -25.3% |
| Operating profit (loss) | 9901 | €12,858 | €20,190 | +€7,332 | +57.0% |
| Financial income | 75/76B | - | €94 | +€94 | |
| Recurring financial income | 75 | - | €94 | +€94 | |
| Financial charges | 65/66B | €1,967 | €1,204 | -€764 | -38.8% |
| Recurring financial charges | 65 | €1,967 | €1,204 | -€764 | -38.8% |
| Profit (loss) for the period before taxes | 9903 | €10,891 | €19,080 | +€8,189 | +75.2% |
| Income taxes | 67/77 | €7,798 | €7,820 | +€22 | +0.3% |
| Profit (loss) for the period | 9904 | €3,093 | €11,260 | +€8,167 | +264% |
| Profit (loss) for the period to be appropriated | 9905 | €3,093 | €11,260 | +€8,167 | +264% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.