GM Benelux: 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.
GM Benelux
Largest movements
- Cash -€16,334
down €16,334 (-25.7%), from €63,670 to €47,336
mainly Other debts (-€40,100) and Trade debts (-€6,743)
- Tangible fixed assets +€3,661
up €3,661 (+210%), from €1,740 to €5,402
of which Furniture and vehicles: +€4,466
- Receivables within one year -€1,352
down €1,352 (-6.3%), from €21,464 to €20,112
of which Trade receivables: -€5,708
- Other debts -€40,100
no longer reported in 2025 (was €40,100)
- Profit (loss) carried forward +€18,980
up €18,980 (+197%), from €9,617 to €28,597
- Tax, wage and social debts +€13,042
up €13,042 (+85.8%), from €15,196 to €28,237
of which Taxes: +€9,167
- Trade debts -€6,743
down €6,743 (-30.0%), from €22,461 to €15,719
- Gross operating margin +€44,962
up €44,962 (+43.0%), from €104,500 to €149,462
- Staff costs +€25,718
up €25,718 (+27.7%), from €92,879 to €118,597
- Taxes +€6,950
up €6,950 (+216%), from €3,212 to €10,162
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 | €89,624 | €74,803 | -€14,821 | -16.5% |
| Fixed assets | 21/28 | €1,740 | €5,402 | +€3,661 | +210% |
| Tangible fixed assets | 22/27 | €1,740 | €5,402 | +€3,661 | +210% |
| Plant, machinery and equipment | 23 | €1,740 | €936 | -€804 | -46.2% |
| Furniture and vehicles | 24 | - | €4,466 | +€4,466 | |
| Current assets | 29/58 | €87,884 | €69,402 | -€18,482 | -21.0% |
| Amounts receivable within one year | 40/41 | €21,464 | €20,112 | -€1,352 | -6.3% |
| Trade receivables | 40 | €20,960 | €15,252 | -€5,708 | -27.2% |
| Other amounts receivable | 41 | €504 | €4,859 | +€4,356 | +865% |
| Cash at bank and in hand | 54/58 | €63,670 | €47,336 | -€16,334 | -25.7% |
| Deferred charges and accrued income | 490/1 | €2,750 | €1,954 | -€796 | -28.9% |
| Total equity and liabilities | 10/49 | €89,624 | €74,803 | -€14,821 | -16.5% |
| Equity | 10/15 | €11,867 | €30,847 | +€18,980 | +160% |
| Contributions | 10/11 | €2,250 | €2,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,617 | €28,597 | +€18,980 | +197% |
| Amounts payable | 17/49 | €77,757 | €43,956 | -€33,801 | -43.5% |
| Amounts payable within one year | 42/48 | €77,757 | €43,956 | -€33,801 | -43.5% |
| Trade debts | 44 | €22,461 | €15,719 | -€6,743 | -30.0% |
| Suppliers | 440/4 | €22,461 | €15,719 | -€6,743 | -30.0% |
| Taxes, remuneration and social security | 45 | €15,196 | €28,237 | +€13,042 | +85.8% |
| Taxes | 450/3 | €4,212 | €13,379 | +€9,167 | +218% |
| Remuneration and social security | 454/9 | €10,984 | €14,859 | +€3,875 | +35.3% |
| Other amounts payable | 47/48 | €40,100 | - | -€40,100 | |
| Remuneration, social security and pensions | 62 | €92,879 | €118,597 | +€25,718 | +27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €672 | €891 | +€219 | +32.6% |
| Other operating charges | 640/8 | €118 | €452 | +€334 | +283% |
| Gross operating margin | 9900 | €104,500 | €149,462 | +€44,962 | +43.0% |
| Operating profit (loss) | 9901 | €10,831 | €29,522 | +€18,691 | +173% |
| Financial income | 75/76B | €148 | - | -€148 | |
| Recurring financial income | 75 | €148 | - | -€148 | |
| Financial charges | 65/66B | €879 | €380 | -€499 | -56.8% |
| Recurring financial charges | 65 | €879 | €380 | -€499 | -56.8% |
| Profit (loss) for the period before taxes | 9903 | €10,100 | €29,142 | +€19,042 | +189% |
| Income taxes | 67/77 | €3,212 | €10,162 | +€6,950 | +216% |
| Profit (loss) for the period | 9904 | €6,888 | €18,980 | +€12,092 | +176% |
| Profit (loss) for the period to be appropriated | 9905 | €6,888 | €18,980 | +€12,092 | +176% |
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 25 October 2026 via checked.be.