GM-LAK: what changed
GM-LAK
Largest movements
- Tangible fixed assets +€19,933
up €19,933 (+448%), from €4,453 to €24,386
of which Furniture and vehicles: +€19,691
- Receivables within one year +€1,752
up €1,752 (+9.2%), from €19,142 to €20,894
of which Trade receivables: +€1,800
- Deferred charges and accrued income -€1,370
down €1,370 (-46.9%), from €2,923 to €1,553
- Cash -€951
down €951 (-84.7%), from €1,123 to €172
mainly Investment in fixed assets (net) (-€26,945) and Tax, wage and social debts (-€3,195)
- Debts after one year +€17,476
new in 2026: €17,476
- Current portion of long-term debt +€4,511
new in 2026: €4,511
- Tax, wage and social debts -€3,195
down €3,195 (-75.1%), from €4,256 to €1,061
of which Remuneration and social security: -€2,952
- Profit (loss) carried forward +€1,877
up €1,877 (+41.6%), from €4,509 to €6,386
- Trade debts -€1,286
down €1,286 (-14.0%), from €9,192 to €7,906
- Other operating charges -€5,891
down €5,891 (-85.0%), from €6,934 to €1,043
- Depreciation +€4,843
up €4,843 (+223%), from €2,170 to €7,013
- Gross operating margin +€2,772
up €2,772 (+30.1%), from €9,220 to €11,992
- Financial charges +€989
up €989 (+177%), from €560 to €1,549
- Taxes -€243
down €243 (-32.3%), from €753 to €510
Change in the result, 2025 to 2026
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 2025 and 2026 balance sheets and the 2026 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 | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,454 | €47,819 | +€19,364 | +68.1% |
| Fixed assets | 21/28 | €5,267 | €25,200 | +€19,933 | +378% |
| Tangible fixed assets | 22/27 | €4,453 | €24,386 | +€19,933 | +448% |
| Plant, machinery and equipment | 23 | €2,712 | €2,954 | +€242 | +8.9% |
| Furniture and vehicles | 24 | €1,740 | €21,431 | +€19,691 | +1,131% |
| Financial fixed assets | 28 | €814 | €814 | = | 0.0% |
| Current assets | 29/58 | €23,188 | €22,619 | -€568 | -2.5% |
| Amounts receivable within one year | 40/41 | €19,142 | €20,894 | +€1,752 | +9.2% |
| Trade receivables | 40 | €16,423 | €18,223 | +€1,800 | +11.0% |
| Other amounts receivable | 41 | €2,719 | €2,671 | -€48 | -1.8% |
| Cash at bank and in hand | 54/58 | €1,123 | €172 | -€951 | -84.7% |
| Deferred charges and accrued income | 490/1 | €2,923 | €1,553 | -€1,370 | -46.9% |
| Total equity and liabilities | 10/49 | €28,454 | €47,819 | +€19,364 | +68.1% |
| Equity | 10/15 | €12,569 | €14,446 | +€1,877 | +14.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €4,509 | €6,386 | +€1,877 | +41.6% |
| Amounts payable | 17/49 | €15,886 | €33,373 | +€17,487 | +110% |
| Amounts payable after more than one year | 17 | - | €17,476 | +€17,476 | |
| Financial debts | 170/4 | - | €17,476 | +€17,476 | |
| Amounts payable within one year | 42/48 | €15,886 | €15,897 | +€11 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | - | €4,511 | +€4,511 | |
| Trade debts | 44 | €9,192 | €7,906 | -€1,286 | -14.0% |
| Suppliers | 440/4 | €9,192 | €7,906 | -€1,286 | -14.0% |
| Taxes, remuneration and social security | 45 | €4,256 | €1,061 | -€3,195 | -75.1% |
| Taxes | 450/3 | €753 | €510 | -€243 | -32.3% |
| Remuneration and social security | 454/9 | €3,503 | €551 | -€2,952 | -84.3% |
| Other amounts payable | 47/48 | €2,438 | €2,419 | -€19 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,170 | €7,013 | +€4,843 | +223% |
| Other operating charges | 640/8 | €6,934 | €1,043 | -€5,891 | -85.0% |
| Gross operating margin | 9900 | €9,220 | €11,992 | +€2,772 | +30.1% |
| Operating profit (loss) | 9901 | €116 | €3,936 | +€3,820 | +3,306% |
| Financial income | 75/76B | €0 | €0 | -€0 | -55.6% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -55.6% |
| Financial charges | 65/66B | €560 | €1,549 | +€989 | +177% |
| Recurring financial charges | 65 | €560 | €1,549 | +€989 | +177% |
| Profit (loss) for the period before taxes | 9903 | -€445 | €2,387 | +€2,831 | |
| Income taxes | 67/77 | €753 | €510 | -€243 | -32.3% |
| Profit (loss) for the period | 9904 | -€1,197 | €1,877 | +€3,074 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,197 | €1,877 | +€3,074 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.