G.R.M.C.: 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.R.M.C.
Largest movements
- Financial fixed assets -€74,000
no longer reported in 2025 (was €74,000)
- Receivables after one year +€74,000
new in 2025: €74,000
- Receivables within one year +€24,110
up €24,110 (+146%), from €16,478 to €40,588
of which Other amounts receivable: +€19,227
- Tangible fixed assets -€9,126
down €9,126 (-39.3%), from €23,205 to €14,079
- Cash -€7,627
down €7,627 (-55.6%), from €13,724 to €6,098
mainly Receivables after one year (-€74,000) and Contributions, distributions and other (-€40,000)
- Other debts +€40,000
new in 2025: €40,000
- Profit (loss) carried forward -€15,200
down €15,200 (-28.9%), from €52,547 to €37,347
- Debts after one year -€12,445
down €12,445 (-59.3%), from €20,999 to €8,554
- Tax, wage and social debts -€3,528
down €3,528 (-23.0%), from €15,341 to €11,813
of which Taxes: -€3,742
- Gross operating margin +€9,445
up €9,445 (+20.1%), from €46,934 to €56,379
- Staff costs +€2,555
new in 2025: €2,555
- Depreciation +€2,013
up €2,013 (+14.8%), from €13,647 to €15,660
- Taxes +€1,585
up €1,585 (+17.9%), from €8,855 to €10,441
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 | €128,412 | €136,454 | +€8,042 | +6.3% |
| Fixed assets | 21/28 | €97,205 | €14,079 | -€83,126 | -85.5% |
| Tangible fixed assets | 22/27 | €23,205 | €14,079 | -€9,126 | -39.3% |
| Furniture and vehicles | 24 | €23,205 | €14,079 | -€9,126 | -39.3% |
| Financial fixed assets | 28 | €74,000 | - | -€74,000 | |
| Current assets | 29/58 | €31,207 | €122,375 | +€91,168 | +292% |
| Amounts receivable after more than one year | 29 | - | €74,000 | +€74,000 | |
| Other amounts receivable | 291 | - | €74,000 | +€74,000 | |
| Amounts receivable within one year | 40/41 | €16,478 | €40,588 | +€24,110 | +146% |
| Trade receivables | 40 | - | €4,883 | +€4,883 | |
| Other amounts receivable | 41 | €16,478 | €35,705 | +€19,227 | +117% |
| Cash at bank and in hand | 54/58 | €13,724 | €6,098 | -€7,627 | -55.6% |
| Deferred charges and accrued income | 490/1 | €1,005 | €1,690 | +€684 | +68.1% |
| Total equity and liabilities | 10/49 | €128,412 | €136,454 | +€8,042 | +6.3% |
| Equity | 10/15 | €67,547 | €52,347 | -€15,200 | -22.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,547 | €37,347 | -€15,200 | -28.9% |
| Amounts payable | 17/49 | €60,865 | €84,107 | +€23,241 | +38.2% |
| Amounts payable after more than one year | 17 | €20,999 | €8,554 | -€12,445 | -59.3% |
| Financial debts | 170/4 | €20,999 | €8,554 | -€12,445 | -59.3% |
| Amounts payable within one year | 42/48 | €39,866 | €75,553 | +€35,687 | +89.5% |
| Current portion of amounts payable after more than one year | 42 | €24,044 | €23,025 | -€1,019 | -4.2% |
| Trade debts | 44 | €482 | €715 | +€233 | +48.4% |
| Suppliers | 440/4 | €482 | €715 | +€233 | +48.4% |
| Taxes, remuneration and social security | 45 | €15,341 | €11,813 | -€3,528 | -23.0% |
| Taxes | 450/3 | €15,341 | €11,599 | -€3,742 | -24.4% |
| Remuneration and social security | 454/9 | - | €214 | +€214 | |
| Other amounts payable | 47/48 | - | €40,000 | +€40,000 | |
| Remuneration, social security and pensions | 62 | - | €2,555 | +€2,555 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,647 | €15,660 | +€2,013 | +14.8% |
| Other operating charges | 640/8 | €702 | €771 | +€69 | +9.9% |
| Gross operating margin | 9900 | €46,934 | €56,379 | +€9,445 | +20.1% |
| Operating profit (loss) | 9901 | €32,586 | €37,393 | +€4,807 | +14.8% |
| Financial income | 75/76B | €17 | €55 | +€38 | +230% |
| Recurring financial income | 75 | €17 | €55 | +€38 | +230% |
| Financial charges | 65/66B | €2,401 | €2,207 | -€194 | -8.1% |
| Recurring financial charges | 65 | €2,401 | €2,207 | -€194 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €30,202 | €35,241 | +€5,040 | +16.7% |
| Income taxes | 67/77 | €8,855 | €10,441 | +€1,585 | +17.9% |
| Profit (loss) for the period | 9904 | €21,346 | €24,800 | +€3,454 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,346 | €24,800 | +€3,454 | +16.2% |
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 20 October 2026 via checked.be.