G.M.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.GROUP
Largest movements
- Stocks and contracts +€23,183
up €23,183 (+197%), from €11,779 to €34,962
- Cash -€20,045
down €20,045 (-89.7%), from €22,343 to €2,298
mainly Stocks and contracts (-€23,183) and Debts after one year (-€17,064)
- Tangible fixed assets -€10,797
down €10,797 (-10.8%), from €99,957 to €89,160
of which Other tangible fixed assets: -€5,672
- Financial fixed assets -€3,540
down €3,540 (-94.4%), from €3,748 to €208
- Debts after one year -€17,064
down €17,064 (-25.8%), from €66,132 to €49,068
- Trade debts +€14,768
up €14,768 (+45.2%), from €32,676 to €47,444
- Other debts -€12,672
down €12,672 (-46.4%), from €27,338 to €14,666
- Current portion of long-term debt -€10,067
down €10,067 (-37.1%), from €27,131 to €17,064
- Profit (loss) carried forward +€8,470
up €8,470 (+20.8%), from -€40,815 to -€32,345
- Gross operating margin -€8,671
down €8,671 (-13.5%), from €64,305 to €55,634
- Other operating charges -€1,939
down €1,939 (-76.6%), from €2,531 to €592
- Financial charges -€1,033
down €1,033 (-15.8%), from €6,539 to €5,506
of which Financial charges: -€1,311
- Depreciation -€685
down €685 (-6.0%), from €11,482 to €10,797
- Staff costs -€667
down €667 (-2.1%), from €31,416 to €30,749
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 | €142,980 | €132,206 | -€10,774 | -7.5% |
| Fixed assets | 21/28 | €103,705 | €89,368 | -€14,337 | -13.8% |
| Tangible fixed assets | 22/27 | €99,957 | €89,160 | -€10,797 | -10.8% |
| Land and buildings | 22 | €82,945 | €78,445 | -€4,500 | -5.4% |
| Plant, machinery and equipment | 23 | €5,903 | €5,278 | -€625 | -10.6% |
| Other tangible fixed assets | 26 | €11,109 | €5,437 | -€5,672 | -51.1% |
| Financial fixed assets | 28 | €3,748 | €208 | -€3,540 | -94.4% |
| Current assets | 29/58 | €39,274 | €42,838 | +€3,564 | +9.1% |
| Stocks and contracts in progress | 3 | €11,779 | €34,962 | +€23,183 | +197% |
| Stocks | 30/36 | €11,779 | €34,962 | +€23,183 | +197% |
| Amounts receivable within one year | 40/41 | €4,514 | €5,479 | +€966 | +21.4% |
| Trade receivables | 40 | €2,254 | €3,631 | +€1,377 | +61.1% |
| Other amounts receivable | 41 | €2,259 | €1,848 | -€412 | -18.2% |
| Cash at bank and in hand | 54/58 | €22,343 | €2,298 | -€20,045 | -89.7% |
| Deferred charges and accrued income | 490/1 | €639 | €99 | -€540 | -84.5% |
| Total equity and liabilities | 10/49 | €142,980 | €132,206 | -€10,774 | -7.5% |
| Equity | 10/15 | -€22,215 | -€13,745 | +€8,470 | +38.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,815 | -€32,345 | +€8,470 | +20.8% |
| Amounts payable | 17/49 | €165,195 | €145,951 | -€19,244 | -11.6% |
| Amounts payable after more than one year | 17 | €66,132 | €49,068 | -€17,064 | -25.8% |
| Financial debts | 170/4 | €66,132 | €49,068 | -€17,064 | -25.8% |
| Amounts payable within one year | 42/48 | €99,062 | €96,883 | -€2,179 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €27,131 | €17,064 | -€10,067 | -37.1% |
| Financial debts | 43 | €2,314 | €2,327 | +€13 | +0.5% |
| Credit institutions | 430/8 | €2,314 | €2,327 | +€13 | +0.5% |
| Trade debts | 44 | €32,676 | €47,444 | +€14,768 | +45.2% |
| Suppliers | 440/4 | €32,676 | €47,444 | +€14,768 | +45.2% |
| Taxes, remuneration and social security | 45 | €9,604 | €15,382 | +€5,778 | +60.2% |
| Taxes | 450/3 | €1,043 | €443 | -€600 | -57.5% |
| Remuneration and social security | 454/9 | €8,561 | €14,939 | +€6,379 | +74.5% |
| Other amounts payable | 47/48 | €27,338 | €14,666 | -€12,672 | -46.4% |
| Non-recurring operating income | 76A | €5,743 | - | -€5,743 | |
| Remuneration, social security and pensions | 62 | €31,416 | €30,749 | -€667 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,482 | €10,797 | -€685 | -6.0% |
| Other operating charges | 640/8 | €2,531 | €592 | -€1,939 | -76.6% |
| Gross operating margin | 9900 | €64,305 | €55,634 | -€8,671 | -13.5% |
| Operating profit (loss) | 9901 | €18,876 | €13,496 | -€5,380 | -28.5% |
| Financial income | 75/76B | €57 | €480 | +€423 | +746% |
| Recurring financial income | 75 | €57 | €427 | +€371 | +653% |
| Non-recurring financial income | 76B | - | €53 | +€53 | |
| Financial charges | 65/66B | €6,539 | €5,506 | -€1,033 | -15.8% |
| Recurring financial charges | 65 | €6,440 | €5,129 | -€1,311 | -20.4% |
| Non-recurring financial charges | 66B | €98 | €376 | +€278 | +282% |
| Profit (loss) for the period before taxes | 9903 | €12,394 | €8,470 | -€3,924 | -31.7% |
| Profit (loss) for the period | 9904 | €12,394 | €8,470 | -€3,924 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,394 | €8,470 | -€3,924 | -31.7% |
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 29 October 2026 via checked.be.