G3M Associates: 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.
G3M Associates
Largest movements
- Cash -€8,049
down €8,049 (-11.0%), from €72,964 to €64,915
mainly Contributions, distributions and other (-€145,000) and Investment in fixed assets (net) (-€2,843)
- Receivables within one year -€7,774
down €7,774 (-27.8%), from €27,932 to €20,159
of which Other amounts receivable: -€13,241
- Reserves -€87,892
down €87,892 (-90.8%), from €96,844 to €8,952
- Other debts +€69,845
new in 2025: €69,845
- Tax, wage and social debts +€2,187
up €2,187 (+8.1%), from €26,990 to €29,177
- Depreciation +€2,042
up €2,042 (+236%), from €865 to €2,907
- Financial charges -€1,283
down €1,283 (-53.0%), from €2,422 to €1,139
- Taxes +€1,195
up €1,195 (+7.4%), from €16,179 to €17,374
- Gross operating margin +€833
up €833 (+1.1%), from €78,095 to €78,928
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 | €125,372 | €108,411 | -€16,961 | -13.5% |
| Fixed assets | 21/28 | €22,846 | €22,782 | -€65 | -0.3% |
| Tangible fixed assets | 22/27 | €20,928 | €20,863 | -€65 | -0.3% |
| Furniture and vehicles | 24 | €1,331 | €2,690 | +€1,359 | +102% |
| Other tangible fixed assets | 26 | €19,597 | €18,173 | -€1,423 | -7.3% |
| Financial fixed assets | 28 | €1,919 | €1,919 | = | 0.0% |
| Current assets | 29/58 | €102,526 | €85,629 | -€16,896 | -16.5% |
| Amounts receivable within one year | 40/41 | €27,932 | €20,159 | -€7,774 | -27.8% |
| Trade receivables | 40 | €14,692 | €20,159 | +€5,467 | +37.2% |
| Other amounts receivable | 41 | €13,241 | €0 | -€13,241 | -100% |
| Cash at bank and in hand | 54/58 | €72,964 | €64,915 | -€8,049 | -11.0% |
| Deferred charges and accrued income | 490/1 | €1,630 | €556 | -€1,074 | -65.9% |
| Total equity and liabilities | 10/49 | €125,372 | €108,411 | -€16,961 | -13.5% |
| Equity | 10/15 | €96,944 | €9,052 | -€87,892 | -90.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €96,844 | €8,952 | -€87,892 | -90.8% |
| Distributable reserves | 133 | €96,844 | €8,952 | -€87,892 | -90.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €28,428 | €99,359 | +€70,931 | +250% |
| Amounts payable within one year | 42/48 | €28,428 | €99,359 | +€70,931 | +250% |
| Trade debts | 44 | €1,438 | €337 | -€1,101 | -76.5% |
| Suppliers | 440/4 | €1,438 | €337 | -€1,101 | -76.5% |
| Taxes, remuneration and social security | 45 | €26,990 | €29,177 | +€2,187 | +8.1% |
| Taxes | 450/3 | €26,990 | €29,177 | +€2,187 | +8.1% |
| Other amounts payable | 47/48 | - | €69,845 | +€69,845 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €865 | €2,907 | +€2,042 | +236% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €78,095 | €78,928 | +€833 | +1.1% |
| Operating profit (loss) | 9901 | €77,230 | €75,621 | -€1,609 | -2.1% |
| Financial income | 75/76B | €445 | €0 | -€444 | -100.0% |
| Recurring financial income | 75 | €445 | €0 | -€444 | -100.0% |
| Financial charges | 65/66B | €2,422 | €1,139 | -€1,283 | -53.0% |
| Recurring financial charges | 65 | €2,422 | €1,139 | -€1,283 | -53.0% |
| Profit (loss) for the period before taxes | 9903 | €75,252 | €74,483 | -€770 | -1.0% |
| Income taxes | 67/77 | €16,179 | €17,374 | +€1,195 | +7.4% |
| Profit (loss) for the period | 9904 | €59,073 | €57,108 | -€1,965 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,073 | €57,108 | -€1,965 | -3.3% |
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 30 October 2026 via checked.be.