G.M.H.: 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.H.
Largest movements
- Receivables within one year -€2,913
down €2,913 (-1.2%), from €243,158 to €240,245
- Profit (loss) carried forward -€4,466
down €4,466 (-9.0%), from €49,823 to €45,357
- Gross operating margin +€102
up €102 (+2.6%), from -€3,849 to -€3,747
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 | €252,117 | €247,585 | -€4,533 | -1.8% |
| Current assets | 29/58 | €252,117 | €247,585 | -€4,533 | -1.8% |
| Amounts receivable within one year | 40/41 | €243,158 | €240,245 | -€2,913 | -1.2% |
| Other amounts receivable | 41 | €243,158 | €240,245 | -€2,913 | -1.2% |
| Cash at bank and in hand | 54/58 | €8,960 | €7,340 | -€1,620 | -18.1% |
| Total equity and liabilities | 10/49 | €252,117 | €247,585 | -€4,533 | -1.8% |
| Equity | 10/15 | €250,776 | €246,310 | -€4,466 | -1.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €953 | €953 | = | 0.0% |
| Non-distributable reserves | 130/1 | €953 | €953 | = | 0.0% |
| Legal reserve | 130 | €953 | €953 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,823 | €45,357 | -€4,466 | -9.0% |
| Amounts payable | 17/49 | €1,342 | €1,275 | -€67 | -5.0% |
| Amounts payable within one year | 42/48 | €1,342 | €1,275 | -€67 | -5.0% |
| Trade debts | 44 | €1,342 | €1,275 | -€67 | -5.0% |
| Suppliers | 440/4 | €1,342 | €1,275 | -€67 | -5.0% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | -€3,849 | -€3,747 | +€102 | +2.6% |
| Operating profit (loss) | 9901 | -€4,298 | -€4,209 | +€89 | +2.1% |
| Financial charges | 65/66B | €229 | €258 | +€29 | +12.7% |
| Recurring financial charges | 65 | €229 | €258 | +€29 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,527 | -€4,466 | +€60 | +1.3% |
| Profit (loss) for the period | 9904 | -€4,527 | -€4,466 | +€60 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,527 | -€4,466 | +€60 | +1.3% |
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 25 October 2026 via checked.be.