G.M.P.: 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.P.
Largest movements
- Receivables within one year -€131,030
down €131,030 (-99.7%), from €131,363 to €333
- Tangible fixed assets -€44,307
down €44,307 (-2.2%), from €2.0m to €2.0m
- Debts after one year -€71,187
down €71,187 (-12.7%), from €558,407 to €487,220
- Reserves -€47,500
down €47,500 (-10.7%), from €443,700 to €396,200
of which Distributable reserves: -€47,500
- Other debts -€38,245
down €38,245 (-5.2%), from €738,512 to €700,268
- Gross operating margin +€5,318
up €5,318 (+7.7%), from €69,219 to €74,537
- Financial income -€771
down €771 (-3.5%), from €22,337 to €21,566
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 | €2,911,416 | €2,754,179 | -€157,237 | -5.4% |
| Fixed assets | 21/28 | €2,040,581 | €1,996,274 | -€44,307 | -2.2% |
| Tangible fixed assets | 22/27 | €2,040,581 | €1,996,274 | -€44,307 | -2.2% |
| Land and buildings | 22 | €2,040,581 | €1,996,274 | -€44,307 | -2.2% |
| Current assets | 29/58 | €870,835 | €757,905 | -€112,930 | -13.0% |
| Amounts receivable after more than one year | 29 | €698,600 | €698,600 | = | 0.0% |
| Other amounts receivable | 291 | €698,600 | €698,600 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €131,363 | €333 | -€131,030 | -99.7% |
| Other amounts receivable | 41 | €131,363 | €333 | -€131,030 | -99.7% |
| Cash at bank and in hand | 54/58 | €10,103 | €17,352 | +€7,249 | +71.7% |
| Deferred charges and accrued income | 490/1 | €30,769 | €41,620 | +€10,851 | +35.3% |
| Total equity and liabilities | 10/49 | €2,911,416 | €2,754,179 | -€157,237 | -5.4% |
| Equity | 10/15 | €1,507,595 | €1,459,618 | -€47,977 | -3.2% |
| Contributions | 10/11 | €1,062,000 | €1,062,000 | = | 0.0% |
| Capital | 10 | €1,062,000 | €1,062,000 | = | 0.0% |
| Issued capital | 100 | €1,062,000 | €1,062,000 | = | 0.0% |
| Reserves | 13 | €443,700 | €396,200 | -€47,500 | -10.7% |
| Non-distributable reserves | 130/1 | €106,200 | €106,200 | = | 0.0% |
| Legal reserve | 130 | €106,200 | €106,200 | = | 0.0% |
| Distributable reserves | 133 | €337,500 | €290,000 | -€47,500 | -14.1% |
| Profit (loss) carried forward | 14 | €1,895 | €1,418 | -€477 | -25.2% |
| Amounts payable | 17/49 | €1,403,821 | €1,294,561 | -€109,260 | -7.8% |
| Amounts payable after more than one year | 17 | €558,407 | €487,220 | -€71,187 | -12.7% |
| Financial debts | 170/4 | €558,407 | €487,220 | -€71,187 | -12.7% |
| Amounts payable within one year | 42/48 | €838,647 | €801,454 | -€37,193 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €70,135 | €71,187 | +€1,052 | +1.5% |
| Trade debts | 44 | €30,000 | €30,000 | = | 0.0% |
| Suppliers | 440/4 | €30,000 | €30,000 | = | 0.0% |
| Other amounts payable | 47/48 | €738,512 | €700,268 | -€38,245 | -5.2% |
| Accrued charges and deferred income | 492/3 | €6,767 | €5,886 | -€881 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,307 | €114,307 | = | 0.0% |
| Other operating charges | 640/8 | €18,488 | €18,951 | +€462 | +2.5% |
| Gross operating margin | 9900 | €69,219 | €74,537 | +€5,318 | +7.7% |
| Operating profit (loss) | 9901 | -€63,576 | -€58,721 | +€4,856 | +7.6% |
| Financial income | 75/76B | €22,337 | €21,566 | -€771 | -3.5% |
| Recurring financial income | 75 | €22,337 | €21,566 | -€771 | -3.5% |
| Financial charges | 65/66B | €10,694 | €10,823 | +€129 | +1.2% |
| Recurring financial charges | 65 | €10,694 | €10,823 | +€129 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | -€51,933 | -€47,977 | +€3,956 | +7.6% |
| Profit (loss) for the period | 9904 | -€51,933 | -€47,977 | +€3,956 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,933 | -€47,977 | +€3,956 | +7.6% |
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 23 October 2026 via checked.be.