G-MAT GROUP: 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.
What changed
G-MAT GROUP
NACE 47.551, Retail sale of household furniture
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€48,467
2024 · -€518+€48,984
Equity
€598,001
2024 · €549,543+€48,459
Cash
€448,189
2024 · €391,131+€57,059
Balance sheet total
€1.3m
2024 · €1.3m-€20,256
Largest movements
Assets
- Cash +€57,059
up €57,059 (+14.6%), from €391,131 to €448,189
mainly Net result for the year (+€48,467) and Receivables after one year (+€47,500)
- Receivables after one year -€47,500
down €47,500 (-66.9%), from €71,040 to €23,540
- Stocks and contracts -€31,760
down €31,760 (-5.3%), from €600,710 to €568,950
Equity and liabilities
- Profit (loss) carried forward +€48,459
up €48,459 (+19.7%), from €245,538 to €293,997
- Tax, wage and social debts -€45,551
down €45,551 (-39.0%), from €116,919 to €71,368
of which Taxes: -€28,268
- Short-term financial debts -€14,329
down €14,329 (-6.4%), from €224,087 to €209,759
Income statement
- Other operating charges -€104,240
down €104,240 (-95.2%), from €109,547 to €5,307
- Gross operating margin -€77,973
down €77,973 (-24.3%), from €320,645 to €242,672
- Taxes -€25,372
down €25,372 (-60.9%), from €41,664 to €16,292
- Staff costs +€19,204
up €19,204 (+17.5%), from €109,914 to €129,118
- Financial charges -€11,846
down €11,846 (-82.2%), from €14,407 to €2,560
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.
Result 2024
-€518
Gross operating margin
-€77,973
Staff costs
-€19,204
Depreciation
-€3,106
Write-downs
+€7,000
Other operating charges
+€104,240
Financial income
+€809
Financial charges
+€11,846
Taxes
+€25,372
Result 2025
€48,467
raises the resultlowers the result
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.
From operations
+€113,637
Investment
-€35,322
Financing
-€21,257
Cash 2024
€391,131
From operations (derived)
+€113,637
Net result for the year
+€48,467
Depreciation
+€41,934
Receivables after one year
+€47,500
Stocks and contracts
+€31,760
Receivables within one year
-€8,591
Deferred charges and accrued income
+€34
Trade debts
-€9,025
Tax, wage and social debts
-€45,551
Advances received
+€4,187
Other debts
+€2,923
Investment (derived)
-€35,322
Investment in fixed assets (net)
-€35,322
Financing
-€21,257
Debts after one year
-€7,180
Current portion of long-term debt
+€260
Short-term financial debts
-€14,329
Contributions, distributions and other
-€8
Cash 2025
€448,189
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,276,779 | €1,256,523 | -€20,256 | -1.6% |
| Fixed assets | 21/28 | €139,007 | €132,395 | -€6,612 | -4.8% |
| Tangible fixed assets | 22/27 | €137,098 | €130,486 | -€6,612 | -4.8% |
| Land and buildings | 22 | €9,229 | €6,409 | -€2,820 | -30.6% |
| Plant, machinery and equipment | 23 | €12,297 | €13,286 | +€989 | +8.0% |
| Furniture and vehicles | 24 | €115,573 | €110,791 | -€4,781 | -4.1% |
| Financial fixed assets | 28 | €1,909 | €1,909 | = | 0.0% |
| Current assets | 29/58 | €1,137,772 | €1,124,128 | -€13,644 | -1.2% |
| Amounts receivable after more than one year | 29 | €71,040 | €23,540 | -€47,500 | -66.9% |
| Other amounts receivable | 291 | €71,040 | €23,540 | -€47,500 | -66.9% |
| Stocks and contracts in progress | 3 | €600,710 | €568,950 | -€31,760 | -5.3% |
| Stocks | 30/36 | €600,710 | €568,950 | -€31,760 | -5.3% |
| Amounts receivable within one year | 40/41 | €74,858 | €83,448 | +€8,591 | +11.5% |
| Trade receivables | 40 | €63,478 | €75,594 | +€12,116 | +19.1% |
| Other amounts receivable | 41 | €11,380 | €7,854 | -€3,525 | -31.0% |
| Cash at bank and in hand | 54/58 | €391,131 | €448,189 | +€57,059 | +14.6% |
| Deferred charges and accrued income | 490/1 | €34 | - | -€34 | |
| Total equity and liabilities | 10/49 | €1,276,779 | €1,256,523 | -€20,256 | -1.6% |
| Equity | 10/15 | €549,543 | €598,001 | +€48,459 | +8.8% |
| Reserves | 13 | €304,005 | €304,005 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €302,150 | €302,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €245,538 | €293,997 | +€48,459 | +19.7% |
| Amounts payable | 17/49 | €727,236 | €658,521 | -€68,715 | -9.4% |
| Amounts payable after more than one year | 17 | €156,157 | €148,976 | -€7,180 | -4.6% |
| Financial debts | 170/4 | €23,000 | €15,820 | -€7,180 | -31.2% |
| Other amounts payable | 178/9 | €133,157 | €133,157 | = | 0.0% |
| Amounts payable within one year | 42/48 | €571,079 | €509,545 | -€61,534 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €6,897 | €7,157 | +€260 | +3.8% |
| Financial debts | 43 | €224,087 | €209,759 | -€14,329 | -6.4% |
| Credit institutions | 430/8 | €224,087 | €209,759 | -€14,329 | -6.4% |
| Trade debts | 44 | €223,176 | €214,152 | -€9,025 | -4.0% |
| Suppliers | 440/4 | €223,176 | €214,152 | -€9,025 | -4.0% |
| Advances received on contracts in progress | 46 | - | €4,187 | +€4,187 | |
| Taxes, remuneration and social security | 45 | €116,919 | €71,368 | -€45,551 | -39.0% |
| Taxes | 450/3 | €86,416 | €58,148 | -€28,268 | -32.7% |
| Remuneration and social security | 454/9 | €30,503 | €13,220 | -€17,283 | -56.7% |
| Other amounts payable | 47/48 | - | €2,923 | +€2,923 | |
| Non-recurring operating income | 76A | €12,409 | - | -€12,409 | |
| Remuneration, social security and pensions | 62 | €109,914 | €129,118 | +€19,204 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,827 | €41,934 | +€3,106 | +8.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,000 | - | -€7,000 | |
| Other operating charges | 640/8 | €109,547 | €5,307 | -€104,240 | -95.2% |
| Gross operating margin | 9900 | €320,645 | €242,672 | -€77,973 | -24.3% |
| Operating profit (loss) | 9901 | €55,356 | €66,314 | +€10,957 | +19.8% |
| Financial income | 75/76B | €196 | €1,005 | +€809 | +412% |
| Recurring financial income | 75 | €196 | €1,005 | +€809 | +412% |
| Financial charges | 65/66B | €14,407 | €2,560 | -€11,846 | -82.2% |
| Recurring financial charges | 65 | €14,407 | €2,560 | -€11,846 | -82.2% |
| Profit (loss) for the period before taxes | 9903 | €41,146 | €64,758 | +€23,613 | +57.4% |
| Income taxes | 67/77 | €41,664 | €16,292 | -€25,372 | -60.9% |
| Profit (loss) for the period | 9904 | -€518 | €48,467 | +€48,984 | |
| Profit (loss) for the period to be appropriated | 9905 | -€518 | €48,467 | +€48,984 |
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.