GM-ICT: 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-ICT
Largest movements
- Receivables within one year -€65,348
down €65,348 (-25.3%), from €258,448 to €193,100
of which Other amounts receivable: -€69,008
- Tangible fixed assets -€19,124
down €19,124 (-58.2%), from €32,886 to €13,762
of which Furniture and vehicles: -€18,403
- Cash +€16,832
up €16,832 (+13.9%), from €120,814 to €137,646
mainly Receivables within one year (+€65,348) and Net result for the year (+€55,774)
- Other debts -€97,866
no longer reported in 2025 (was €97,866)
- Reserves +€55,774
up €55,774 (+24.1%), from €230,974 to €286,749
- Current portion of long-term debt -€13,408
down €13,408 (-83.2%), from €16,114 to €2,706
- Tax, wage and social debts -€6,523
down €6,523 (-11.0%), from €59,319 to €52,797
- Financial income -€11,812
down €11,812 (-100.0%), from €11,813 to €0
- Gross operating margin +€10,464
up €10,464 (+11.9%), from €87,834 to €98,298
- Depreciation -€2,967
down €2,967 (-13.4%), from €22,091 to €19,124
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 | €413,537 | €347,257 | -€66,280 | -16.0% |
| Fixed assets | 21/28 | €32,886 | €13,762 | -€19,124 | -58.2% |
| Tangible fixed assets | 22/27 | €32,886 | €13,762 | -€19,124 | -58.2% |
| Land and buildings | 22 | €6,752 | €6,031 | -€721 | -10.7% |
| Furniture and vehicles | 24 | €26,134 | €7,731 | -€18,403 | -70.4% |
| Current assets | 29/58 | €380,651 | €333,495 | -€47,156 | -12.4% |
| Amounts receivable within one year | 40/41 | €258,448 | €193,100 | -€65,348 | -25.3% |
| Trade receivables | 40 | €50,435 | €54,095 | +€3,660 | +7.3% |
| Other amounts receivable | 41 | €208,013 | €139,005 | -€69,008 | -33.2% |
| Cash at bank and in hand | 54/58 | €120,814 | €137,646 | +€16,832 | +13.9% |
| Deferred charges and accrued income | 490/1 | €1,389 | €2,749 | +€1,359 | +97.8% |
| Total equity and liabilities | 10/49 | €413,537 | €347,257 | -€66,280 | -16.0% |
| Equity | 10/15 | €235,974 | €291,749 | +€55,774 | +23.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €230,974 | €286,749 | +€55,774 | +24.1% |
| Distributable reserves | 133 | €230,974 | €286,749 | +€55,774 | +24.1% |
| Amounts payable | 17/49 | €177,563 | €55,508 | -€122,055 | -68.7% |
| Amounts payable after more than one year | 17 | €2,706 | - | -€2,706 | |
| Financial debts | 170/4 | €2,706 | - | -€2,706 | |
| Amounts payable within one year | 42/48 | €173,502 | €55,508 | -€117,994 | -68.0% |
| Current portion of amounts payable after more than one year | 42 | €16,114 | €2,706 | -€13,408 | -83.2% |
| Trade debts | 44 | €203 | €6 | -€198 | -97.2% |
| Suppliers | 440/4 | €203 | €6 | -€198 | -97.2% |
| Taxes, remuneration and social security | 45 | €59,319 | €52,797 | -€6,523 | -11.0% |
| Taxes | 450/3 | €59,319 | €52,797 | -€6,523 | -11.0% |
| Other amounts payable | 47/48 | €97,866 | - | -€97,866 | |
| Accrued charges and deferred income | 492/3 | €1,355 | - | -€1,355 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,091 | €19,124 | -€2,967 | -13.4% |
| Other operating charges | 640/8 | €743 | €325 | -€417 | -56.2% |
| Gross operating margin | 9900 | €87,834 | €98,298 | +€10,464 | +11.9% |
| Operating profit (loss) | 9901 | €65,000 | €78,849 | +€13,848 | +21.3% |
| Financial income | 75/76B | €11,813 | €0 | -€11,812 | -100.0% |
| Recurring financial income | 75 | €11,813 | €0 | -€11,812 | -100.0% |
| Financial charges | 65/66B | €533 | €298 | -€235 | -44.1% |
| Recurring financial charges | 65 | €533 | €298 | -€235 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | €76,279 | €78,551 | +€2,271 | +3.0% |
| Income taxes | 67/77 | €22,426 | €22,776 | +€350 | +1.6% |
| Profit (loss) for the period | 9904 | €53,854 | €55,774 | +€1,921 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,854 | €55,774 | +€1,921 | +3.6% |
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 18 October 2026 via checked.be.