G&M Projects: what changed
Two fiscal 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 Projects
Largest movements
- Receivables within one year +€18,398
up €18,398 (+71.3%), from €25,788 to €44,186
of which Other amounts receivable: +€22,145
- Cash +€3,000
up €3,000 (+857.0%), from €350 to €3,350
mainly Net result for the year (+€20,786) and Depreciation (+€2,990)
- Tangible fixed assets -€2,454
down €2,454 (-36.9%), from €6,641 to €4,188
of which Plant, machinery and equipment: -€1,978
- Reserves +€20,786
up €20,786 (+178.1%), from €11,669 to €32,454
- Short-term financial debts -€1,423
down €1,423 (-59.3%), from €2,399 to €976
- Tax, wage and social debts -€1,173
down €1,173 (-13.8%), from €8,515 to €7,342
- Trade debts +€848
up €848 (+432.0%), from €196 to €1,045
- Gross operating margin +€13,254
up €13,254 (+81.1%), from €16,337 to €29,591
- Taxes +€2,250
up €2,250 (+73.2%), from €3,075 to €5,325
- Depreciation +€926
up €926 (+44.9%), from €2,064 to €2,990
- Financial income -€853
no longer reported in 2025 (was €853)
- Other operating charges -€602
down €602 (-90.2%), from €668 to €66
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.
Cash bridge derived
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 | €32,779 | €51,817 | +€19,038 | +58.1% |
| Fixed assets | 21/28 | €6,641 | €4,188 | -€2,454 | -36.9% |
| Tangible fixed assets | 22/27 | €6,641 | €4,188 | -€2,454 | -36.9% |
| Plant, machinery and equipment | 23 | €5,247 | €3,269 | -€1,978 | -37.7% |
| Furniture and vehicles | 24 | €1,394 | €918 | -€476 | -34.1% |
| Current assets | 29/58 | €26,138 | €47,629 | +€21,492 | +82.2% |
| Amounts receivable within one year | 40/41 | €25,788 | €44,186 | +€18,398 | +71.3% |
| Trade receivables | 40 | €10,534 | €6,788 | -€3,746 | -35.6% |
| Other amounts receivable | 41 | €15,254 | €37,398 | +€22,145 | +145.2% |
| Cash at bank and in hand | 54/58 | €350 | €3,350 | +€3,000 | +857.0% |
| Deferred charges and accrued income | 490/1 | - | €94 | +€94 | |
| Total equity and liabilities | 10/49 | €32,779 | €51,817 | +€19,038 | +58.1% |
| Equity | 10/15 | €21,669 | €42,454 | +€20,786 | +95.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €11,669 | €32,454 | +€20,786 | +178.1% |
| Distributable reserves | 133 | €11,669 | €32,454 | +€20,786 | +178.1% |
| Amounts payable | 17/49 | €11,110 | €9,363 | -€1,748 | -15.7% |
| Amounts payable within one year | 42/48 | €11,110 | €9,363 | -€1,748 | -15.7% |
| Financial debts | 43 | €2,399 | €976 | -€1,423 | -59.3% |
| Credit institutions | 430/8 | €2,399 | €976 | -€1,423 | -59.3% |
| Trade debts | 44 | €196 | €1,045 | +€848 | +432.0% |
| Suppliers | 440/4 | €196 | €1,045 | +€848 | +432.0% |
| Taxes, remuneration and social security | 45 | €8,515 | €7,342 | -€1,173 | -13.8% |
| Taxes | 450/3 | €8,515 | €7,342 | -€1,173 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,064 | €2,990 | +€926 | +44.9% |
| Other operating charges | 640/8 | €668 | €66 | -€602 | -90.2% |
| Gross operating margin | 9900 | €16,337 | €29,591 | +€13,254 | +81.1% |
| Operating profit (loss) | 9901 | €13,606 | €26,536 | +€12,930 | +95.0% |
| Financial income | 75/76B | €853 | - | -€853 | |
| Recurring financial income | 75 | €853 | - | -€853 | |
| Financial charges | 65/66B | €168 | €425 | +€256 | +152.4% |
| Recurring financial charges | 65 | €168 | €425 | +€256 | +152.4% |
| Profit (loss) for the period before taxes | 9903 | €14,290 | €26,111 | +€11,821 | +82.7% |
| Income taxes | 67/77 | €3,075 | €5,325 | +€2,250 | +73.2% |
| Profit (loss) for the period | 9904 | €11,215 | €20,786 | +€9,570 | +85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,215 | €20,786 | +€9,570 | +85.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.