GAMD: 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.
GAMD
Largest movements
- Cash +€67,638
up €67,638 (+570.5%), from €11,855 to €79,494
mainly Net result for the year (+€54,656) and Tax, wage and social debts (+€13,581)
- Receivables within one year +€2,389
new in 2025: €2,389
- Reserves +€54,656
up €54,656 (+1371.9%), from €3,984 to €58,640
- Tax, wage and social debts +€13,581
up €13,581 (+1185.7%), from €1,145 to €14,727
- Gross operating margin +€64,507
up €64,507 (+1099.2%), from €5,869 to €70,376
- Taxes +€13,581
up €13,581 (+1185.7%), from €1,145 to €14,727
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 | €13,608 | €83,036 | +€69,428 | +510.2% |
| Fixed assets | 21/28 | €1,752 | €1,154 | -€598 | -34.1% |
| Tangible fixed assets | 22/27 | €1,752 | €1,154 | -€598 | -34.1% |
| Plant, machinery and equipment | 23 | €1,752 | €1,154 | -€598 | -34.1% |
| Current assets | 29/58 | €11,855 | €81,882 | +€70,027 | +590.7% |
| Amounts receivable within one year | 40/41 | - | €2,389 | +€2,389 | |
| Trade receivables | 40 | - | €2,389 | +€2,389 | |
| Cash at bank and in hand | 54/58 | €11,855 | €79,494 | +€67,638 | +570.5% |
| Total equity and liabilities | 10/49 | €13,608 | €83,036 | +€69,428 | +510.2% |
| Equity | 10/15 | €8,984 | €63,640 | +€54,656 | +608.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €3,984 | €58,640 | +€54,656 | +1371.9% |
| Distributable reserves | 133 | €3,984 | €58,640 | +€54,656 | +1371.9% |
| Amounts payable | 17/49 | €4,624 | €19,397 | +€14,773 | +319.5% |
| Amounts payable within one year | 42/48 | €3,099 | €17,397 | +€14,298 | +461.4% |
| Trade debts | 44 | - | €417 | +€417 | |
| Suppliers | 440/4 | - | €417 | +€417 | |
| Taxes, remuneration and social security | 45 | €1,145 | €14,727 | +€13,581 | +1185.7% |
| Taxes | 450/3 | €1,145 | €14,727 | +€13,581 | +1185.7% |
| Other amounts payable | 47/48 | €1,954 | €2,253 | +€299 | +15.3% |
| Accrued charges and deferred income | 492/3 | €1,525 | €2,000 | +€475 | +31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43 | €598 | +€556 | +1307.6% |
| Other operating charges | 640/8 | €647 | €374 | -€273 | -42.2% |
| Gross operating margin | 9900 | €5,869 | €70,376 | +€64,507 | +1099.2% |
| Operating profit (loss) | 9901 | €5,179 | €69,404 | +€64,225 | +1240.0% |
| Financial charges | 65/66B | €50 | €22 | -€28 | -56.0% |
| Recurring financial charges | 65 | €50 | €22 | -€28 | -56.0% |
| Profit (loss) for the period before taxes | 9903 | €5,129 | €69,382 | +€64,253 | +1252.6% |
| Income taxes | 67/77 | €1,145 | €14,727 | +€13,581 | +1185.7% |
| Profit (loss) for the period | 9904 | €3,984 | €54,656 | +€50,672 | +1271.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,984 | €54,656 | +€50,672 | +1271.9% |
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 11 October 2026 via checked.be.