GM POSE: 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 POSE
Largest movements
- Cash -€143,513
down €143,513 (-28.1%), from €511,300 to €367,787
mainly Investment in fixed assets (net) (-€157,163) and Trade debts (-€97,160)
- Tangible fixed assets +€76,654
up €76,654 (+32.7%), from €234,245 to €310,899
of which Furniture and vehicles: +€86,856
- Receivables within one year +€58,519
up €58,519 (+28.2%), from €207,857 to €266,376
of which Trade receivables: +€61,161
- Trade debts -€97,160
down €97,160 (-37.1%), from €261,897 to €164,736
- Reserves +€60,000
up €60,000 (+32.2%), from €186,360 to €246,360
- Short-term financial debts -€40,000
no longer reported in 2025 (was €40,000)
- Debts after one year +€26,840
up €26,840 (+21.9%), from €122,356 to €149,197
- Tax, wage and social debts +€23,679
up €23,679 (+102%), from €23,118 to €46,798
of which Taxes: +€19,802
- Gross operating margin +€88,380
up €88,380 (+20.1%), from €439,405 to €527,785
- Taxes +€20,533
up €20,533 (+157%), from €13,069 to €33,603
- Other operating charges +€8,467
up €8,467 (+97.6%), from €8,676 to €17,143
- Depreciation +€7,523
up €7,523 (+10.3%), from €72,985 to €80,508
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 | €958,458 | €954,699 | -€3,759 | -0.4% |
| Fixed assets | 21/28 | €234,245 | €310,899 | +€76,654 | +32.7% |
| Tangible fixed assets | 22/27 | €234,245 | €310,899 | +€76,654 | +32.7% |
| Land and buildings | 22 | €33,613 | €33,678 | +€65 | +0.2% |
| Plant, machinery and equipment | 23 | €7,914 | €2,540 | -€5,374 | -67.9% |
| Furniture and vehicles | 24 | €169,484 | €256,341 | +€86,856 | +51.2% |
| Leasing and similar rights | 25 | €23,233 | €18,340 | -€4,893 | -21.1% |
| Current assets | 29/58 | €724,214 | €643,800 | -€80,413 | -11.1% |
| Amounts receivable within one year | 40/41 | €207,857 | €266,376 | +€58,519 | +28.2% |
| Trade receivables | 40 | €130,868 | €192,030 | +€61,161 | +46.7% |
| Other amounts receivable | 41 | €76,989 | €74,346 | -€2,643 | -3.4% |
| Cash at bank and in hand | 54/58 | €511,300 | €367,787 | -€143,513 | -28.1% |
| Deferred charges and accrued income | 490/1 | €5,057 | €9,637 | +€4,580 | +90.6% |
| Total equity and liabilities | 10/49 | €958,458 | €954,699 | -€3,759 | -0.4% |
| Equity | 10/15 | €373,819 | €433,878 | +€60,059 | +16.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €186,360 | €246,360 | +€60,000 | +32.2% |
| Distributable reserves | 133 | €186,360 | €246,360 | +€60,000 | +32.2% |
| Profit (loss) carried forward | 14 | €181,259 | €181,318 | +€59 | 0.0% |
| Amounts payable | 17/49 | €584,639 | €520,821 | -€63,818 | -10.9% |
| Amounts payable after more than one year | 17 | €122,356 | €149,197 | +€26,840 | +21.9% |
| Financial debts | 170/4 | €122,356 | €149,197 | +€26,840 | +21.9% |
| Amounts payable within one year | 42/48 | €459,430 | €368,878 | -€90,552 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €89,748 | €111,041 | +€21,292 | +23.7% |
| Financial debts | 43 | €40,000 | - | -€40,000 | |
| Credit institutions | 430/8 | €40,000 | - | -€40,000 | |
| Trade debts | 44 | €261,897 | €164,736 | -€97,160 | -37.1% |
| Suppliers | 440/4 | €261,897 | €164,736 | -€97,160 | -37.1% |
| Taxes, remuneration and social security | 45 | €23,118 | €46,798 | +€23,679 | +102% |
| Taxes | 450/3 | €23,118 | €42,920 | +€19,802 | +85.7% |
| Remuneration and social security | 454/9 | - | €3,878 | +€3,878 | |
| Other amounts payable | 47/48 | €44,666 | €46,303 | +€1,636 | +3.7% |
| Accrued charges and deferred income | 492/3 | €2,853 | €2,747 | -€106 | -3.7% |
| Remuneration, social security and pensions | 62 | €319,669 | €321,708 | +€2,039 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,985 | €80,508 | +€7,523 | +10.3% |
| Other operating charges | 640/8 | €8,676 | €17,143 | +€8,467 | +97.6% |
| Gross operating margin | 9900 | €439,405 | €527,785 | +€88,380 | +20.1% |
| Operating profit (loss) | 9901 | €38,074 | €108,425 | +€70,351 | +185% |
| Financial income | 75/76B | €31 | €545 | +€514 | +1,643% |
| Recurring financial income | 75 | €31 | €545 | +€514 | +1,643% |
| Financial charges | 65/66B | €16,152 | €14,119 | -€2,034 | -12.6% |
| Recurring financial charges | 65 | €16,152 | €14,119 | -€2,034 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €21,953 | €94,852 | +€72,899 | +332% |
| Income taxes | 67/77 | €13,069 | €33,603 | +€20,533 | +157% |
| Profit (loss) for the period | 9904 | €8,884 | €61,249 | +€52,365 | +589% |
| Profit (loss) for the period to be appropriated | 9905 | €8,884 | €61,249 | +€52,365 | +589% |
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 25 October 2026 via checked.be.