GM GROUPE SA: 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 GROUPE SA
Largest movements
- Cash +€502,676
up €502,676 (+130%), from €386,538 to €889,214
mainly Net result for the year (+€361,410) and Depreciation (+€225,026)
- Tangible fixed assets -€162,082
down €162,082 (-20.5%), from €789,901 to €627,819
of which Land and buildings: -€206,884
- Intangible fixed assets -€108,140
down €108,140 (-24.6%), from €440,218 to €332,078
- Receivables within one year -€87,422
down €87,422 (-50.7%), from €172,435 to €85,013
- Reserves +€248,410
up €248,410 (+22.1%), from €1.1m to €1.4m
of which Distributable reserves: +€248,410
- Debts after one year -€232,942
down €232,942 (-24.4%), from €955,069 to €722,127
of which Financial debts: -€232,942
- Other debts +€114,389
new in 2025: €114,389
- Gross operating margin +€204,964
up €204,964 (+12.9%), from €1.6m to €1.8m
- Taxes +€30,822
up €30,822 (+39.3%), from €78,353 to €109,175
- Financial income +€26,681
up €26,681 (+1,277%), from €2,089 to €28,770
- Staff costs -€26,235
down €26,235 (-2.4%), from €1.1m to €1.1m
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 | €2,629,318 | €2,769,492 | +€140,175 | +5.3% |
| Fixed assets | 21/28 | €1,242,044 | €971,822 | -€270,222 | -21.8% |
| Intangible fixed assets | 21 | €440,218 | €332,078 | -€108,140 | -24.6% |
| Tangible fixed assets | 22/27 | €789,901 | €627,819 | -€162,082 | -20.5% |
| Land and buildings | 22 | €722,124 | €515,240 | -€206,884 | -28.6% |
| Plant, machinery and equipment | 23 | €8,491 | €10,591 | +€2,100 | +24.7% |
| Furniture and vehicles | 24 | €50,978 | €101,989 | +€51,011 | +100% |
| Assets under construction and advance payments | 27 | €8,308 | - | -€8,308 | |
| Financial fixed assets | 28 | €11,925 | €11,925 | = | 0.0% |
| Current assets | 29/58 | €1,387,274 | €1,797,670 | +€410,396 | +29.6% |
| Amounts receivable within one year | 40/41 | €172,435 | €85,013 | -€87,422 | -50.7% |
| Other amounts receivable | 41 | €172,435 | €85,013 | -€87,422 | -50.7% |
| Current investments | 50/53 | €765,000 | €765,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €386,538 | €889,214 | +€502,676 | +130% |
| Deferred charges and accrued income | 490/1 | €63,301 | €58,443 | -€4,858 | -7.7% |
| Total equity and liabilities | 10/49 | €2,629,318 | €2,769,492 | +€140,175 | +5.3% |
| Equity | 10/15 | €1,198,125 | €1,446,535 | +€248,410 | +20.7% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Revaluation surpluses | 12 | €11,897 | €11,897 | = | 0.0% |
| Reserves | 13 | €1,123,729 | €1,372,139 | +€248,410 | +22.1% |
| Non-distributable reserves | 130/1 | €798,200 | €798,200 | = | 0.0% |
| Legal reserve | 130 | €38,200 | €38,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €760,000 | €760,000 | = | 0.0% |
| Distributable reserves | 133 | €325,529 | €573,939 | +€248,410 | +76.3% |
| Amounts payable | 17/49 | €1,431,193 | €1,322,957 | -€108,235 | -7.6% |
| Amounts payable after more than one year | 17 | €955,069 | €722,127 | -€232,942 | -24.4% |
| Financial debts | 170/4 | €954,019 | €721,077 | -€232,942 | -24.4% |
| Other amounts payable | 178/9 | €1,050 | €1,050 | = | 0.0% |
| Amounts payable within one year | 42/48 | €471,007 | €580,558 | +€109,551 | +23.3% |
| Current portion of amounts payable after more than one year | 42 | €311,001 | €289,083 | -€21,917 | -7.0% |
| Trade debts | 44 | €28,695 | €44,032 | +€15,337 | +53.4% |
| Suppliers | 440/4 | €28,695 | €44,032 | +€15,337 | +53.4% |
| Taxes, remuneration and social security | 45 | €131,312 | €133,053 | +€1,741 | +1.3% |
| Taxes | 450/3 | €18 | €8,570 | +€8,552 | +46,731% |
| Remuneration and social security | 454/9 | €131,293 | €124,483 | -€6,811 | -5.2% |
| Other amounts payable | 47/48 | - | €114,389 | +€114,389 | |
| Accrued charges and deferred income | 492/3 | €5,116 | €20,272 | +€15,156 | +296% |
| Remuneration, social security and pensions | 62 | €1,110,221 | €1,083,986 | -€26,235 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218,694 | €225,026 | +€6,332 | +2.9% |
| Other operating charges | 640/8 | €6,403 | €8,094 | +€1,691 | +26.4% |
| Gross operating margin | 9900 | €1,589,721 | €1,794,685 | +€204,964 | +12.9% |
| Operating profit (loss) | 9901 | €254,404 | €477,578 | +€223,174 | +87.7% |
| Financial income | 75/76B | €2,089 | €28,770 | +€26,681 | +1,277% |
| Recurring financial income | 75 | €2,089 | €28,770 | +€26,681 | +1,277% |
| Financial charges | 65/66B | €22,823 | €35,763 | +€12,940 | +56.7% |
| Recurring financial charges | 65 | €22,823 | €35,763 | +€12,940 | +56.7% |
| Profit (loss) for the period before taxes | 9903 | €233,669 | €470,585 | +€236,915 | +101% |
| Income taxes | 67/77 | €78,353 | €109,175 | +€30,822 | +39.3% |
| Profit (loss) for the period | 9904 | €155,316 | €361,410 | +€206,094 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €155,316 | €361,410 | +€206,094 | +133% |
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 31 October 2026 via checked.be.