G.S.MC: what changed
G.S.MC
Largest movements
- Receivables within one year -€20,118
down €20,118 (-32.7%), from €61,564 to €41,446
- Deferred charges and accrued income -€2,088
down €2,088 (-49.6%), from €4,205 to €2,117
- Reserves -€26,885
down €26,885 (-53.9%), from €49,903 to €23,017
of which Distributable reserves: -€26,885
- Other debts +€6,700
up €6,700 (+35.6%), from €18,841 to €25,541
- Profit (loss) carried forward -€3,071
down €3,071 (-20.3%), from -€15,143 to -€18,214
- Trade debts +€1,069
up €1,069 (+1,867%), from €57 to €1,126
- Financial income -€2,060
down €2,060 (-49.0%), from €4,205 to €2,145
- Other operating charges -€941
down €941 (-86.7%), from €1,086 to €144
- Taxes -€530
down €530, from €463 to -€66
- Gross operating margin -€132
down €132 (-2.9%), from -€4,549 to -€4,681
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,001 | €47,385 | -€22,617 | -32.3% |
| Fixed assets | 21/28 | €966 | €634 | -€332 | -34.3% |
| Tangible fixed assets | 22/27 | €876 | €544 | -€332 | -37.9% |
| Plant, machinery and equipment | 23 | €876 | €544 | -€332 | -37.9% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €69,036 | €46,751 | -€22,285 | -32.3% |
| Amounts receivable within one year | 40/41 | €61,564 | €41,446 | -€20,118 | -32.7% |
| Other amounts receivable | 41 | €61,564 | €41,446 | -€20,118 | -32.7% |
| Cash at bank and in hand | 54/58 | €3,267 | €3,188 | -€80 | -2.4% |
| Deferred charges and accrued income | 490/1 | €4,205 | €2,117 | -€2,088 | -49.6% |
| Total equity and liabilities | 10/49 | €70,001 | €47,385 | -€22,617 | -32.3% |
| Equity | 10/15 | €47,159 | €17,203 | -€29,956 | -63.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €49,903 | €23,017 | -€26,885 | -53.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €48,043 | €21,157 | -€26,885 | -56.0% |
| Profit (loss) carried forward | 14 | -€15,143 | -€18,214 | -€3,071 | -20.3% |
| Amounts payable | 17/49 | €22,842 | €30,182 | +€7,339 | +32.1% |
| Amounts payable within one year | 42/48 | €22,842 | €30,182 | +€7,339 | +32.1% |
| Trade debts | 44 | €57 | €1,126 | +€1,069 | +1,867% |
| Suppliers | 440/4 | €57 | €1,126 | +€1,069 | +1,867% |
| Taxes, remuneration and social security | 45 | €3,944 | €3,514 | -€429 | -10.9% |
| Taxes | 450/3 | €3,944 | €3,514 | -€429 | -10.9% |
| Other amounts payable | 47/48 | €18,841 | €25,541 | +€6,700 | +35.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €332 | €332 | = | 0.0% |
| Other operating charges | 640/8 | €1,086 | €144 | -€941 | -86.7% |
| Gross operating margin | 9900 | -€4,549 | -€4,681 | -€132 | -2.9% |
| Operating profit (loss) | 9901 | -€5,966 | -€5,156 | +€810 | +13.6% |
| Financial income | 75/76B | €4,205 | €2,145 | -€2,060 | -49.0% |
| Recurring financial income | 75 | €4,205 | €2,145 | -€2,060 | -49.0% |
| Financial charges | 65/66B | €125 | €126 | +€1 | +0.8% |
| Recurring financial charges | 65 | €125 | €126 | +€1 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,886 | -€3,137 | -€1,251 | -66.4% |
| Income taxes | 67/77 | €463 | -€66 | -€530 | |
| Profit (loss) for the period | 9904 | -€2,349 | -€3,071 | -€722 | -30.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,349 | -€3,071 | -€722 | -30.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.