GM Company: what changed
What changed
GM Company
NACE 46.900, Non-specialised wholesale trade
filed annual accounts (NBB)
Net result for the year
€497,029
2024 · €235,664+€261,365
Equity
€823,947
2024 · €526,918+€297,029
Cash
€99,583
2024 · €57,808+€41,774
Balance sheet total
€2.0m
2024 · €1.8m+€131,968
Largest movements
Assets
- Receivables within one year +€64,882
up €64,882 (+26.5%), from €245,101 to €309,983
of which Trade receivables: +€85,800
- Cash +€41,774
up €41,774 (+72.3%), from €57,808 to €99,583
mainly Net result for the year (+€497,029) and Other debts (+€179,588)
Equity and liabilities
- Trade debts -€391,181
down €391,181 (-81.6%), from €479,329 to €88,148
- Profit (loss) carried forward +€297,029
up €297,029 (+56.9%), from €521,918 to €818,947
- Other debts +€179,588
up €179,588 (+2,678%), from €6,706 to €186,294
- Short-term financial debts +€75,000
new in 2025: €75,000
- Debts after one year -€72,354
down €72,354 (-10.6%), from €680,496 to €608,142
of which Other amounts payable: -€80,496
Income statement
- Gross operating margin +€311,275
up €311,275 (+60.8%), from €511,782 to €823,057
- Write-downs -€108,880
down €108,880, from €71,915 to -€36,965
- Taxes +€98,788
up €98,788 (+135%), from €73,136 to €171,924
- Staff costs +€61,448
up €61,448 (+110%), from €55,973 to €117,421
- Other operating charges -€40,616
down €40,616 (-78.8%), from €51,511 to €10,895
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.
Result 2024
€235,664
Gross operating margin
+€311,275
Staff costs
-€61,448
Depreciation
-€5,896
Write-downs
+€108,880
Other operating charges
+€40,616
Other operating items
-€701
Financial income
-€2,724
Financial charges
-€29,849
Taxes
-€98,788
Result 2025
€497,029
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€266,368
Investment
-€32,121
Financing
-€192,473
Cash 2024
€57,808
From operations (derived)
+€266,368
Net result for the year
+€497,029
Depreciation
+€19,831
Stocks and contracts
+€727
Receivables within one year
-€64,882
Deferred charges and accrued income
-€13,749
Trade debts
-€391,181
Tax, wage and social debts
+€39,005
Other debts
+€179,588
Investment (derived)
-€32,121
Investment in fixed assets (net)
-€32,121
Financing
-€192,473
Debts after one year
-€72,354
Current portion of long-term debt
+€4,881
Short-term financial debts
+€75,000
Contributions, distributions and other
-€200,000
Cash 2025
€99,583
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,833,574 | €1,965,542 | +€131,968 | +7.2% |
| Fixed assets | 21/28 | €87,516 | €99,806 | +€12,290 | +14.0% |
| Intangible fixed assets | 21 | €1,470 | €504 | -€966 | -65.7% |
| Tangible fixed assets | 22/27 | €65,796 | €79,052 | +€13,256 | +20.1% |
| Plant, machinery and equipment | 23 | €12,377 | €14,532 | +€2,155 | +17.4% |
| Furniture and vehicles | 24 | €53,419 | €64,520 | +€11,101 | +20.8% |
| Financial fixed assets | 28 | €20,250 | €20,250 | = | 0.0% |
| Current assets | 29/58 | €1,746,058 | €1,865,736 | +€119,678 | +6.9% |
| Stocks and contracts in progress | 3 | €1,417,698 | €1,416,971 | -€727 | -0.1% |
| Stocks | 30/36 | €1,417,698 | €1,416,971 | -€727 | -0.1% |
| Amounts receivable within one year | 40/41 | €245,101 | €309,983 | +€64,882 | +26.5% |
| Trade receivables | 40 | €216,565 | €302,365 | +€85,800 | +39.6% |
| Other amounts receivable | 41 | €28,536 | €7,618 | -€20,919 | -73.3% |
| Cash at bank and in hand | 54/58 | €57,808 | €99,583 | +€41,774 | +72.3% |
| Deferred charges and accrued income | 490/1 | €25,451 | €39,200 | +€13,749 | +54.0% |
| Total equity and liabilities | 10/49 | €1,833,574 | €1,965,542 | +€131,968 | +7.2% |
| Equity | 10/15 | €526,918 | €823,947 | +€297,029 | +56.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €521,918 | €818,947 | +€297,029 | +56.9% |
| Amounts payable | 17/49 | €1,306,656 | €1,141,595 | -€165,061 | -12.6% |
| Amounts payable after more than one year | 17 | €680,496 | €608,142 | -€72,354 | -10.6% |
| Financial debts | 170/4 | - | €8,142 | +€8,142 | |
| Other amounts payable | 178/9 | €680,496 | €600,000 | -€80,496 | -11.8% |
| Amounts payable within one year | 42/48 | €626,160 | €533,453 | -€92,707 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | - | €4,881 | +€4,881 | |
| Financial debts | 43 | - | €75,000 | +€75,000 | |
| Credit institutions | 430/8 | - | €75,000 | +€75,000 | |
| Trade debts | 44 | €479,329 | €88,148 | -€391,181 | -81.6% |
| Suppliers | 440/4 | €479,329 | €88,148 | -€391,181 | -81.6% |
| Taxes, remuneration and social security | 45 | €140,125 | €179,129 | +€39,005 | +27.8% |
| Taxes | 450/3 | €127,778 | €152,665 | +€24,887 | +19.5% |
| Remuneration and social security | 454/9 | €12,346 | €26,465 | +€14,118 | +114% |
| Other amounts payable | 47/48 | €6,706 | €186,294 | +€179,588 | +2,678% |
| Remuneration, social security and pensions | 62 | €55,973 | €117,421 | +€61,448 | +110% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,935 | €19,831 | +€5,896 | +42.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €71,915 | -€36,965 | -€108,880 | |
| Other operating charges | 640/8 | €51,511 | €10,895 | -€40,616 | -78.8% |
| Non-recurring operating charges | 66A | - | €701 | +€701 | |
| Gross operating margin | 9900 | €511,782 | €823,057 | +€311,275 | +60.8% |
| Operating profit (loss) | 9901 | €318,447 | €711,174 | +€392,727 | +123% |
| Financial income | 75/76B | €2,724 | €0 | -€2,724 | -100% |
| Recurring financial income | 75 | €2,724 | €0 | -€2,724 | -100% |
| Financial charges | 65/66B | €12,371 | €42,220 | +€29,849 | +241% |
| Recurring financial charges | 65 | €12,371 | €42,220 | +€29,849 | +241% |
| Profit (loss) for the period before taxes | 9903 | €308,800 | €668,953 | +€360,153 | +117% |
| Income taxes | 67/77 | €73,136 | €171,924 | +€98,788 | +135% |
| Profit (loss) for the period | 9904 | €235,664 | €497,029 | +€261,365 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €235,664 | €497,029 | +€261,365 | +111% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 4 November 2026 via checked.be.