GM MANAGEMENT GROUP: 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 MANAGEMENT GROUP
Largest movements
- Receivables within one year +€14,017
up €14,017 (+258%), from €5,423 to €19,440
of which Trade receivables: +€7,475
- Profit (loss) carried forward +€9,715
up €9,715, from -€49 to €9,666
- Tax, wage and social debts +€3,769
up €3,769 (+236%), from €1,595 to €5,364
- Trade debts +€3,434
up €3,434 (+232%), from €1,482 to €4,917
- Other debts -€2,700
down €2,700 (-51.3%), from €5,261 to €2,561
- Gross operating margin +€8,016
up €8,016 (+110%), from €7,289 to €15,305
- Taxes +€1,673
up €1,673 (+61.1%), from €2,736 to €4,408
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 | €11,289 | €25,508 | +€14,219 | +126% |
| Fixed assets | 21/28 | €1,000 | €1,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €10,289 | €24,508 | +€14,219 | +138% |
| Amounts receivable within one year | 40/41 | €5,423 | €19,440 | +€14,017 | +258% |
| Trade receivables | 40 | €4,801 | €12,276 | +€7,475 | +156% |
| Other amounts receivable | 41 | €622 | €7,164 | +€6,542 | +1,052% |
| Cash at bank and in hand | 54/58 | €4,866 | €5,068 | +€202 | +4.1% |
| Total equity and liabilities | 10/49 | €11,289 | €25,508 | +€14,219 | +126% |
| Equity | 10/15 | €2,951 | €12,666 | +€9,715 | +329% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49 | €9,666 | +€9,715 | |
| Amounts payable | 17/49 | €8,338 | €12,842 | +€4,504 | +54.0% |
| Amounts payable within one year | 42/48 | €8,338 | €12,842 | +€4,504 | +54.0% |
| Trade debts | 44 | €1,482 | €4,917 | +€3,434 | +232% |
| Suppliers | 440/4 | €1,482 | €4,917 | +€3,434 | +232% |
| Taxes, remuneration and social security | 45 | €1,595 | €5,364 | +€3,769 | +236% |
| Taxes | 450/3 | €1,595 | €5,364 | +€3,769 | +236% |
| Other amounts payable | 47/48 | €5,261 | €2,561 | -€2,700 | -51.3% |
| Other operating charges | 640/8 | €387 | €448 | +€61 | +15.7% |
| Gross operating margin | 9900 | €7,289 | €15,305 | +€8,016 | +110% |
| Operating profit (loss) | 9901 | €6,901 | €14,857 | +€7,955 | +115% |
| Financial charges | 65/66B | €791 | €733 | -€57 | -7.2% |
| Recurring financial charges | 65 | €791 | €733 | -€57 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €6,111 | €14,123 | +€8,012 | +131% |
| Income taxes | 67/77 | €2,736 | €4,408 | +€1,673 | +61.1% |
| Profit (loss) for the period | 9904 | €3,375 | €9,715 | +€6,340 | +188% |
| Profit (loss) for the period to be appropriated | 9905 | €3,375 | €9,715 | +€6,340 | +188% |
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 1 November 2026 via checked.be.