GM RETAIL: 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 RETAIL
Largest movements
- Receivables within one year +€201,332
up €201,332 (+181%), from €111,199 to €312,530
of which Trade receivables: +€187,186
- Cash -€9,093
down €9,093 (-42.2%), from €21,555 to €12,462
mainly Receivables within one year (-€201,332) and Contributions, distributions and other (-€37,827)
- Trade debts +€142,955
up €142,955 (+369%), from €38,715 to €181,670
- Reserves +€109,158
new in 2025: €109,158
- Contributions -€35,000
down €35,000 (-87.5%), from €40,000 to €5,000
- Tax, wage and social debts -€22,045
down €22,045 (-40.4%), from €54,610 to €32,565
of which Remuneration and social security: -€21,410
- Gross operating margin +€114,858
up €114,858 (+20.8%), from €552,729 to €667,587
- Taxes +€32,643
new in 2025: €32,643
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 | €138,786 | €329,353 | +€190,567 | +137% |
| Fixed assets | 21/28 | €2,232 | €3,361 | +€1,129 | +50.6% |
| Intangible fixed assets | 21 | €125 | - | -€125 | |
| Tangible fixed assets | 22/27 | €1,744 | €2,998 | +€1,254 | +71.9% |
| Furniture and vehicles | 24 | €1,744 | €2,998 | +€1,254 | +71.9% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €136,555 | €325,992 | +€189,438 | +139% |
| Amounts receivable within one year | 40/41 | €111,199 | €312,530 | +€201,332 | +181% |
| Trade receivables | 40 | €105,186 | €292,372 | +€187,186 | +178% |
| Other amounts receivable | 41 | €6,013 | €20,158 | +€14,145 | +235% |
| Cash at bank and in hand | 54/58 | €21,555 | €12,462 | -€9,093 | -42.2% |
| Deferred charges and accrued income | 490/1 | €3,801 | €1,000 | -€2,801 | -73.7% |
| Total equity and liabilities | 10/49 | €138,786 | €329,353 | +€190,567 | +137% |
| Equity | 10/15 | €42,827 | €114,158 | +€71,331 | +167% |
| Contributions | 10/11 | €40,000 | €5,000 | -€35,000 | -87.5% |
| Reserves | 13 | - | €109,158 | +€109,158 | |
| Distributable reserves | 133 | - | €109,158 | +€109,158 | |
| Profit (loss) carried forward | 14 | €2,827 | - | -€2,827 | |
| Amounts payable | 17/49 | €95,959 | €215,196 | +€119,236 | +124% |
| Amounts payable within one year | 42/48 | €94,099 | €215,196 | +€121,096 | +129% |
| Trade debts | 44 | €38,715 | €181,670 | +€142,955 | +369% |
| Suppliers | 440/4 | €38,715 | €181,670 | +€142,955 | +369% |
| Taxes, remuneration and social security | 45 | €54,610 | €32,565 | -€22,045 | -40.4% |
| Taxes | 450/3 | €635 | - | -€635 | |
| Remuneration and social security | 454/9 | €53,975 | €32,565 | -€21,410 | -39.7% |
| Other amounts payable | 47/48 | €774 | €960 | +€187 | +24.1% |
| Accrued charges and deferred income | 492/3 | €1,860 | - | -€1,860 | |
| Remuneration, social security and pensions | 62 | €508,571 | €510,452 | +€1,881 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,805 | €2,094 | -€2,711 | -56.4% |
| Other operating charges | 640/8 | €8,039 | €12,873 | +€4,834 | +60.1% |
| Gross operating margin | 9900 | €552,729 | €667,587 | +€114,858 | +20.8% |
| Operating profit (loss) | 9901 | €31,314 | €142,168 | +€110,854 | +354% |
| Financial income | 75/76B | €16 | - | -€16 | |
| Recurring financial income | 75 | €16 | - | -€16 | |
| Financial charges | 65/66B | €3,007 | €367 | -€2,640 | -87.8% |
| Recurring financial charges | 65 | €3,007 | €367 | -€2,640 | -87.8% |
| Profit (loss) for the period before taxes | 9903 | €28,323 | €141,801 | +€113,478 | +401% |
| Income taxes | 67/77 | - | €32,643 | +€32,643 | |
| Profit (loss) for the period | 9904 | €28,323 | €109,158 | +€80,835 | +285% |
| Profit (loss) for the period to be appropriated | 9905 | €28,323 | €109,158 | +€80,835 | +285% |
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 24 October 2026 via checked.be.