GM CONCEPT: 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.
GM CONCEPT
Largest movements
- Receivables after one year +€48,615
up €48,615 (+27.4%), from €177,554 to €226,169
- Receivables within one year -€2,923
no longer reported in 2025 (was €2,923)
- Profit (loss) carried forward +€29,845
up €29,845 (+40.0%), from €74,618 to €104,463
- Other debts +€25,500
up €25,500 (+77.7%), from €32,825 to €58,325
- Tax, wage and social debts -€11,522
down €11,522 (-37.5%), from €30,734 to €19,211
- Debts after one year -€3,322
no longer reported in 2025 (was €3,322)
- Short-term financial debts +€2,518
new in 2025: €2,518
- Gross operating margin +€6,412
up €6,412 (+10.8%), from €59,525 to €65,937
- Taxes +€5,325
up €5,325 (+62.0%), from €8,589 to €13,914
- Financial income +€3,746
up €3,746 (+156.4%), from €2,396 to €6,142
- Financial charges -€2,577
down €2,577 (-56.6%), from €4,555 to €1,978
- Other operating charges -€1,884
down €1,884 (-76.9%), from €2,450 to €566
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €183,693 | €228,608 | +€44,915 | +24.5% |
| Fixed assets | 21/28 | €3,216 | €2,439 | -€777 | -24.2% |
| Tangible fixed assets | 22/27 | €2,476 | €1,699 | -€777 | -31.4% |
| Plant, machinery and equipment | 23 | €2,104 | €1,552 | -€553 | -26.3% |
| Furniture and vehicles | 24 | €371 | €147 | -€224 | -60.4% |
| Financial fixed assets | 28 | €740 | €740 | = | 0.0% |
| Current assets | 29/58 | €180,477 | €226,169 | +€45,692 | +25.3% |
| Amounts receivable after more than one year | 29 | €177,554 | €226,169 | +€48,615 | +27.4% |
| Other amounts receivable | 291 | €177,554 | €226,169 | +€48,615 | +27.4% |
| Amounts receivable within one year | 40/41 | €2,923 | - | -€2,923 | |
| Trade receivables | 40 | €2,923 | - | -€2,923 | |
| Total equity and liabilities | 10/49 | €183,693 | €228,608 | +€44,915 | +24.5% |
| Equity | 10/15 | €113,878 | €143,723 | +€29,845 | +26.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €33,060 | €33,060 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,500 | €22,500 | = | 0.0% |
| Distributable reserves | 133 | €8,700 | €8,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,618 | €104,463 | +€29,845 | +40.0% |
| Amounts payable | 17/49 | €69,814 | €84,885 | +€15,071 | +21.6% |
| Amounts payable after more than one year | 17 | €3,322 | - | -€3,322 | |
| Financial debts | 170/4 | €3,322 | - | -€3,322 | |
| Amounts payable within one year | 42/48 | €66,493 | €84,885 | +€18,392 | +27.7% |
| Financial debts | 43 | - | €2,518 | +€2,518 | |
| Credit institutions | 430/8 | - | €2,518 | +€2,518 | |
| Trade debts | 44 | €2,934 | €4,831 | +€1,897 | +64.7% |
| Suppliers | 440/4 | €2,934 | €3,020 | +€86 | +2.9% |
| Bills of exchange payable | 441 | - | €1,811 | +€1,811 | |
| Taxes, remuneration and social security | 45 | €30,734 | €19,211 | -€11,522 | -37.5% |
| Taxes | 450/3 | €30,734 | €19,211 | -€11,522 | -37.5% |
| Other amounts payable | 47/48 | €32,825 | €58,325 | +€25,500 | +77.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,303 | €777 | -€526 | -40.4% |
| Other operating charges | 640/8 | €2,450 | €566 | -€1,884 | -76.9% |
| Gross operating margin | 9900 | €59,525 | €65,937 | +€6,412 | +10.8% |
| Operating profit (loss) | 9901 | €55,772 | €64,594 | +€8,822 | +15.8% |
| Financial income | 75/76B | €2,396 | €6,142 | +€3,746 | +156.4% |
| Recurring financial income | 75 | €2,396 | €6,142 | +€3,746 | +156.4% |
| Financial charges | 65/66B | €4,555 | €1,978 | -€2,577 | -56.6% |
| Recurring financial charges | 65 | €4,555 | €1,978 | -€2,577 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | €53,613 | €68,758 | +€15,145 | +28.2% |
| Income taxes | 67/77 | €8,589 | €13,914 | +€5,325 | +62.0% |
| Profit (loss) for the period | 9904 | €45,024 | €54,845 | +€9,820 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,024 | €54,845 | +€9,820 | +21.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.