GAM RECORDS: 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.
GAM RECORDS
Largest movements
- Cash -€3,709
down €3,709 (-75.7%), from €4,897 to €1,188
mainly Trade debts (-€5,732) and Stocks and contracts (-€790)
- Tangible fixed assets -€1,057
down €1,057 (-17.2%), from €6,142 to €5,085
- Receivables within one year -€865
down €865 (-51.1%), from €1,691 to €826
of which Other amounts receivable: -€1,092
- Stocks and contracts +€790
up €790 (+11.6%), from €6,790 to €7,580
- Trade debts -€5,732
down €5,732 (-83.6%), from €6,858 to €1,126
- Other debts +€950
up €950 (+1.6%), from €60,326 to €61,276
- Profit (loss) carried forward -€312
down €312 (-0.5%), from -€66,113 to -€66,425
- Depreciation -€1,111
down €1,111 (-48.1%), from €2,312 to €1,201
- Other operating charges +€708
new in 2025: €708
- Financial income +€542
up €542 (+5423900.0%), from €0 to €542
- Gross operating margin +€253
up €253 (+25.4%), from €996 to €1,249
- Financial charges +€71
up €71 (+57.9%), from €123 to €195
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 | €19,664 | €14,680 | -€4,984 | -25.3% |
| Fixed assets | 21/28 | €6,286 | €5,085 | -€1,201 | -19.1% |
| Intangible fixed assets | 21 | €144 | - | -€144 | |
| Tangible fixed assets | 22/27 | €6,142 | €5,085 | -€1,057 | -17.2% |
| Furniture and vehicles | 24 | €6,142 | €5,085 | -€1,057 | -17.2% |
| Current assets | 29/58 | €13,378 | €9,595 | -€3,783 | -28.3% |
| Stocks and contracts in progress | 3 | €6,790 | €7,580 | +€790 | +11.6% |
| Stocks | 30/36 | €6,790 | €7,580 | +€790 | +11.6% |
| Amounts receivable within one year | 40/41 | €1,691 | €826 | -€865 | -51.1% |
| Trade receivables | 40 | €598 | €826 | +€228 | +38.1% |
| Other amounts receivable | 41 | €1,092 | - | -€1,092 | |
| Cash at bank and in hand | 54/58 | €4,897 | €1,188 | -€3,709 | -75.7% |
| Total equity and liabilities | 10/49 | €19,664 | €14,680 | -€4,984 | -25.3% |
| Equity | 10/15 | -€47,521 | -€47,833 | -€312 | -0.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,113 | -€66,425 | -€312 | -0.5% |
| Amounts payable | 17/49 | €67,185 | €62,513 | -€4,672 | -7.0% |
| Amounts payable within one year | 42/48 | €67,185 | €62,513 | -€4,672 | -7.0% |
| Trade debts | 44 | €6,858 | €1,126 | -€5,732 | -83.6% |
| Suppliers | 440/4 | €6,858 | €1,126 | -€5,732 | -83.6% |
| Taxes, remuneration and social security | 45 | - | €111 | +€111 | |
| Remuneration and social security | 454/9 | - | €111 | +€111 | |
| Other amounts payable | 47/48 | €60,326 | €61,276 | +€950 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,312 | €1,201 | -€1,111 | -48.1% |
| Other operating charges | 640/8 | - | €708 | +€708 | |
| Gross operating margin | 9900 | €996 | €1,249 | +€253 | +25.4% |
| Operating profit (loss) | 9901 | -€1,316 | -€660 | +€655 | +49.8% |
| Financial income | 75/76B | €0 | €542 | +€542 | +5423900.0% |
| Recurring financial income | 75 | €0 | €542 | +€542 | +5423900.0% |
| Financial charges | 65/66B | €123 | €195 | +€71 | +57.9% |
| Recurring financial charges | 65 | €123 | €195 | +€71 | +57.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,439 | -€312 | +€1,126 | +78.3% |
| Profit (loss) for the period | 9904 | -€1,439 | -€312 | +€1,126 | +78.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,439 | -€312 | +€1,126 | +78.3% |
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 4 October 2026 via checked.be.