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
- Financial fixed assets -€295,557
down €295,557 (-35.1%), from €842,303 to €546,747
- Cash +€244,433
up €244,433 (+6,272%), from €3,897 to €248,330
mainly Investment in fixed assets (net) (+€291,447) and Net result for the year (+€219,842)
- Receivables within one year +€227,527
up €227,527 (+998%), from €22,787 to €250,314
of which Other amounts receivable: +€227,777
- Tangible fixed assets -€31,513
down €31,513 (-8.0%), from €392,871 to €361,358
of which Land and buildings: -€26,928
- Profit (loss) carried forward +€219,842
up €219,842 (+68.3%), from €321,878 to €541,720
- Debts after one year -€53,002
down €53,002 (-11.0%), from €479,665 to €426,663
- Current portion of long-term debt -€16,650
down €16,650 (-29.6%), from €56,319 to €39,669
- Financial income +€123,631
up €123,631 (+129%), from €95,855 to €219,486
of which Non-recurring financial income: +€219,486
- Financial charges -€32,273
down €32,273 (-71.7%), from €45,040 to €12,767
of which Non-recurring financial charges: -€21,113
- Gross operating margin +€26,613
up €26,613 (+96.9%), from €27,466 to €54,079
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 | €1,261,859 | €1,406,749 | +€144,890 | +11.5% |
| Fixed assets | 21/28 | €1,235,174 | €908,105 | -€327,070 | -26.5% |
| Tangible fixed assets | 22/27 | €392,871 | €361,358 | -€31,513 | -8.0% |
| Land and buildings | 22 | €315,646 | €288,718 | -€26,928 | -8.5% |
| Plant, machinery and equipment | 23 | - | €4,003 | +€4,003 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €77,225 | €68,637 | -€8,588 | -11.1% |
| Financial fixed assets | 28 | €842,303 | €546,747 | -€295,557 | -35.1% |
| Current assets | 29/58 | €26,684 | €498,644 | +€471,959 | +1,769% |
| Amounts receivable within one year | 40/41 | €22,787 | €250,314 | +€227,527 | +998% |
| Trade receivables | 40 | €3,000 | €2,750 | -€250 | -8.3% |
| Other amounts receivable | 41 | €19,787 | €247,564 | +€227,777 | +1,151% |
| Cash at bank and in hand | 54/58 | €3,897 | €248,330 | +€244,433 | +6,272% |
| Total equity and liabilities | 10/49 | €1,261,859 | €1,406,749 | +€144,890 | +11.5% |
| Equity | 10/15 | €403,683 | €623,525 | +€219,842 | +54.5% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €7,437 | €7,437 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | €321,878 | €541,720 | +€219,842 | +68.3% |
| Amounts payable | 17/49 | €858,176 | €783,224 | -€74,952 | -8.7% |
| Amounts payable after more than one year | 17 | €479,665 | €426,663 | -€53,002 | -11.0% |
| Financial debts | 170/4 | €479,665 | €426,663 | -€53,002 | -11.0% |
| Amounts payable within one year | 42/48 | €378,511 | €356,561 | -€21,950 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €56,319 | €39,669 | -€16,650 | -29.6% |
| Financial debts | 43 | €4,418 | - | -€4,418 | |
| Credit institutions | 430/8 | €4,418 | - | -€4,418 | |
| Trade debts | 44 | €5,803 | €4,358 | -€1,445 | -24.9% |
| Suppliers | 440/4 | €5,803 | €4,358 | -€1,445 | -24.9% |
| Other amounts payable | 47/48 | €311,971 | €312,534 | +€563 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,398 | €35,623 | +€224 | +0.6% |
| Other operating charges | 640/8 | €5,110 | €5,199 | +€89 | +1.7% |
| Non-recurring operating charges | 66A | - | €135 | +€135 | |
| Gross operating margin | 9900 | €27,466 | €54,079 | +€26,613 | +96.9% |
| Operating profit (loss) | 9901 | -€13,043 | €13,123 | +€26,166 | |
| Financial income | 75/76B | €95,855 | €219,486 | +€123,631 | +129% |
| Recurring financial income | 75 | €95,855 | €1 | -€95,855 | -100.0% |
| Non-recurring financial income | 76B | - | €219,486 | +€219,486 | |
| Financial charges | 65/66B | €45,040 | €12,767 | -€32,273 | -71.7% |
| Recurring financial charges | 65 | €23,928 | €12,767 | -€11,161 | -46.6% |
| Non-recurring financial charges | 66B | €21,113 | - | -€21,113 | |
| Profit (loss) for the period before taxes | 9903 | €37,772 | €219,842 | +€182,070 | +482% |
| Income taxes | 67/77 | -€492 | - | +€492 | |
| Profit (loss) for the period | 9904 | €38,264 | €219,842 | +€181,578 | +475% |
| Profit (loss) for the period to be appropriated | 9905 | €38,264 | €219,842 | +€181,578 | +475% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.