GM INDUSTRIAL SERVICES: what changed
GM INDUSTRIAL SERVICES
Largest movements
- Receivables within one year +€41,313
up €41,313 (+158%), from €26,132 to €67,445
of which Other amounts receivable: +€37,081
- Cash -€13,221
down €13,221 (-67.5%), from €19,584 to €6,364
mainly Receivables within one year (-€41,313) and Deferred charges and accrued income (-€1,910)
- Tangible fixed assets -€1,941
down €1,941 (-32.4%), from €5,998 to €4,056
of which Plant, machinery and equipment: -€988
- Deferred charges and accrued income +€1,910
up €1,910 (+1,147%), from €167 to €2,076
- Profit (loss) carried forward +€20,177
up €20,177 (+82.9%), from €24,337 to €44,514
- Tax, wage and social debts +€7,752
up €7,752 (+53.3%), from €14,544 to €22,296
of which Taxes: +€6,916
- Trade debts +€3,341
up €3,341 (+90.0%), from €3,712 to €7,053
- Debts after one year -€1,560
no longer reported in 2025 (was €1,560)
- Current portion of long-term debt -€1,439
down €1,439 (-48.0%), from €2,999 to €1,560
- Staff costs +€7,246
up €7,246 (+24.1%), from €30,014 to €37,260
- Gross operating margin +€1,698
up €1,698 (+2.6%), from €64,728 to €66,427
- Financial income +€1,131
up €1,131 (+511%), from €221 to €1,352
- Depreciation -€794
down €794 (-24.7%), from €3,214 to €2,420
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,153 | €80,424 | +€28,271 | +54.2% |
| Fixed assets | 21/28 | €6,270 | €4,539 | -€1,731 | -27.6% |
| Tangible fixed assets | 22/27 | €5,998 | €4,056 | -€1,941 | -32.4% |
| Plant, machinery and equipment | 23 | €2,480 | €1,493 | -€988 | -39.8% |
| Furniture and vehicles | 24 | €3,517 | €2,564 | -€953 | -27.1% |
| Financial fixed assets | 28 | €273 | €483 | +€210 | +77.1% |
| Current assets | 29/58 | €45,883 | €75,885 | +€30,002 | +65.4% |
| Amounts receivable within one year | 40/41 | €26,132 | €67,445 | +€41,313 | +158% |
| Trade receivables | 40 | €18,617 | €22,849 | +€4,231 | +22.7% |
| Other amounts receivable | 41 | €7,515 | €44,596 | +€37,081 | +493% |
| Cash at bank and in hand | 54/58 | €19,584 | €6,364 | -€13,221 | -67.5% |
| Deferred charges and accrued income | 490/1 | €167 | €2,076 | +€1,910 | +1,147% |
| Total equity and liabilities | 10/49 | €52,153 | €80,424 | +€28,271 | +54.2% |
| Equity | 10/15 | €29,337 | €49,514 | +€20,177 | +68.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,337 | €44,514 | +€20,177 | +82.9% |
| Amounts payable | 17/49 | €22,816 | €30,910 | +€8,094 | +35.5% |
| Amounts payable after more than one year | 17 | €1,560 | - | -€1,560 | |
| Financial debts | 170/4 | €1,560 | - | -€1,560 | |
| Amounts payable within one year | 42/48 | €21,255 | €30,910 | +€9,654 | +45.4% |
| Current portion of amounts payable after more than one year | 42 | €2,999 | €1,560 | -€1,439 | -48.0% |
| Trade debts | 44 | €3,712 | €7,053 | +€3,341 | +90.0% |
| Suppliers | 440/4 | €3,712 | €7,053 | +€3,341 | +90.0% |
| Taxes, remuneration and social security | 45 | €14,544 | €22,296 | +€7,752 | +53.3% |
| Taxes | 450/3 | €6,838 | €13,755 | +€6,916 | +101% |
| Remuneration and social security | 454/9 | €7,706 | €8,541 | +€836 | +10.8% |
| Remuneration, social security and pensions | 62 | €30,014 | €37,260 | +€7,246 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,214 | €2,420 | -€794 | -24.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €64,728 | €66,427 | +€1,698 | +2.6% |
| Operating profit (loss) | 9901 | €31,113 | €26,347 | -€4,766 | -15.3% |
| Financial income | 75/76B | €221 | €1,352 | +€1,131 | +511% |
| Recurring financial income | 75 | €221 | €1,352 | +€1,131 | +511% |
| Financial charges | 65/66B | €231 | €678 | +€448 | +194% |
| Recurring financial charges | 65 | €231 | €678 | +€448 | +194% |
| Profit (loss) for the period before taxes | 9903 | €31,104 | €27,021 | -€4,083 | -13.1% |
| Income taxes | 67/77 | €6,767 | €6,844 | +€77 | +1.1% |
| Profit (loss) for the period | 9904 | €24,337 | €20,177 | -€4,160 | -17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,337 | €20,177 | -€4,160 | -17.1% |
Next steps
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.