G.M.K.: 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.K.
Largest movements
- Cash +€6,801
up €6,801 (+120%), from €5,670 to €12,471
mainly Net result for the year (+€6,412) and Trade debts (+€6,040)
- Receivables within one year +€6,093
up €6,093 (+222%), from €2,745 to €8,838
of which Trade receivables: +€6,103
- Profit (loss) carried forward +€6,412
up €6,412 (+10.0%), from -€64,065 to -€57,653
- Trade debts +€6,040
up €6,040 (+108%), from €5,575 to €11,614
- Other debts +€411
up €411 (+0.7%), from €61,453 to €61,864
- Gross operating margin +€2,273
up €2,273 (+50.6%), from €4,487 to €6,760
- Staff costs -€1,685
down €1,685 (-97.7%), from €1,725 to €39
- Other operating charges -€405
no longer reported in 2025 (was €405)
- Financial charges -€144
down €144 (-41.7%), from €345 to €201
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 | €18,016 | €30,856 | +€12,840 | +71.3% |
| Fixed assets | 21/28 | €7,911 | €7,804 | -€107 | -1.4% |
| Tangible fixed assets | 22/27 | €301 | €193 | -€107 | -35.6% |
| Furniture and vehicles | 24 | €301 | €193 | -€107 | -35.6% |
| Financial fixed assets | 28 | €7,611 | €7,611 | = | 0.0% |
| Current assets | 29/58 | €10,105 | €23,052 | +€12,947 | +128% |
| Stocks and contracts in progress | 3 | €1,690 | €1,690 | = | 0.0% |
| Stocks | 30/36 | €1,690 | €1,690 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,745 | €8,838 | +€6,093 | +222% |
| Trade receivables | 40 | €2,736 | €8,838 | +€6,103 | +223% |
| Other amounts receivable | 41 | €10 | - | -€10 | |
| Cash at bank and in hand | 54/58 | €5,670 | €12,471 | +€6,801 | +120% |
| Deferred charges and accrued income | 490/1 | - | €53 | +€53 | |
| Total equity and liabilities | 10/49 | €18,016 | €30,856 | +€12,840 | +71.3% |
| Equity | 10/15 | -€51,315 | -€44,903 | +€6,412 | +12.5% |
| Contributions | 10/11 | €12,750 | €12,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,065 | -€57,653 | +€6,412 | +10.0% |
| Amounts payable | 17/49 | €69,331 | €75,760 | +€6,428 | +9.3% |
| Amounts payable within one year | 42/48 | €69,331 | €75,760 | +€6,428 | +9.3% |
| Trade debts | 44 | €5,575 | €11,614 | +€6,040 | +108% |
| Suppliers | 440/4 | €5,575 | €11,614 | +€6,040 | +108% |
| Taxes, remuneration and social security | 45 | €2,304 | €2,282 | -€22 | -1.0% |
| Taxes | 450/3 | €2,172 | €2,282 | +€109 | +5.0% |
| Remuneration and social security | 454/9 | €132 | - | -€132 | |
| Other amounts payable | 47/48 | €61,453 | €61,864 | +€411 | +0.7% |
| Remuneration, social security and pensions | 62 | €1,725 | €39 | -€1,685 | -97.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145 | €107 | -€38 | -26.3% |
| Other operating charges | 640/8 | €405 | - | -€405 | |
| Gross operating margin | 9900 | €4,487 | €6,760 | +€2,273 | +50.6% |
| Operating profit (loss) | 9901 | €2,212 | €6,613 | +€4,401 | +199% |
| Financial charges | 65/66B | €345 | €201 | -€144 | -41.7% |
| Recurring financial charges | 65 | €345 | €201 | -€144 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €1,867 | €6,412 | +€4,545 | +243% |
| Profit (loss) for the period | 9904 | €1,867 | €6,412 | +€4,545 | +243% |
| Profit (loss) for the period to be appropriated | 9905 | €1,867 | €6,412 | +€4,545 | +243% |
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 17 October 2026 via checked.be.