GM Studios: 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 Studios
Largest movements
- Receivables within one year -€11,169
down €11,169 (-62.4%), from €17,887 to €6,719
of which Trade receivables: -€11,053
- Cash -€7,904
down €7,904 (-39.2%), from €20,176 to €12,272
mainly Debts after one year (-€14,115) and Net result for the year (-€11,249)
- Tangible fixed assets -€6,695
down €6,695 (-1.9%), from €356,454 to €349,758
of which Land and buildings: -€5,925
- Intangible fixed assets -€5,000
down €5,000 (-13.9%), from €35,945 to €30,945
- Debts after one year -€14,115
down €14,115 (-5.4%), from €261,678 to €247,563
- Profit (loss) carried forward -€11,249
down €11,249 (-24.0%), from -€46,908 to -€58,157
- Trade debts -€9,106
down €9,106 (-53.5%), from €17,006 to €7,900
- Other debts +€6,011
up €6,011 (+21.7%), from €27,746 to €33,757
- Gross operating margin +€8,767
up €8,767 (+107%), from €8,204 to €16,971
- Financial income -€7,280
down €7,280 (-74.5%), from €9,771 to €2,492
- Financial charges -€6,180
down €6,180 (-39.9%), from €15,482 to €9,302
- Depreciation +€747
up €747 (+3.9%), from €19,186 to €19,934
- Other operating charges -€192
down €192 (-13.5%), from €1,421 to €1,229
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 | €431,124 | €400,975 | -€30,149 | -7.0% |
| Fixed assets | 21/28 | €392,399 | €380,703 | -€11,695 | -3.0% |
| Intangible fixed assets | 21 | €35,945 | €30,945 | -€5,000 | -13.9% |
| Tangible fixed assets | 22/27 | €356,454 | €349,758 | -€6,695 | -1.9% |
| Land and buildings | 22 | €351,698 | €345,773 | -€5,925 | -1.7% |
| Plant, machinery and equipment | 23 | €3,261 | €781 | -€2,479 | -76.0% |
| Furniture and vehicles | 24 | €1,495 | €3,204 | +€1,709 | +114% |
| Current assets | 29/58 | €38,725 | €20,272 | -€18,453 | -47.7% |
| Amounts receivable within one year | 40/41 | €17,887 | €6,719 | -€11,169 | -62.4% |
| Trade receivables | 40 | €16,851 | €5,798 | -€11,053 | -65.6% |
| Other amounts receivable | 41 | €1,036 | €920 | -€116 | -11.2% |
| Cash at bank and in hand | 54/58 | €20,176 | €12,272 | -€7,904 | -39.2% |
| Deferred charges and accrued income | 490/1 | €662 | €1,281 | +€619 | +93.5% |
| Total equity and liabilities | 10/49 | €431,124 | €400,975 | -€30,149 | -7.0% |
| Equity | 10/15 | €108,092 | €96,843 | -€11,249 | -10.4% |
| Contributions | 10/11 | €155,000 | €155,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,908 | -€58,157 | -€11,249 | -24.0% |
| Amounts payable | 17/49 | €323,032 | €304,132 | -€18,900 | -5.9% |
| Amounts payable after more than one year | 17 | €261,678 | €247,563 | -€14,115 | -5.4% |
| Financial debts | 170/4 | €261,678 | €247,563 | -€14,115 | -5.4% |
| Amounts payable within one year | 42/48 | €61,353 | €56,569 | -€4,785 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €14,331 | €14,115 | -€216 | -1.5% |
| Trade debts | 44 | €17,006 | €7,900 | -€9,106 | -53.5% |
| Suppliers | 440/4 | €17,006 | €7,900 | -€9,106 | -53.5% |
| Taxes, remuneration and social security | 45 | €2,270 | €796 | -€1,473 | -64.9% |
| Taxes | 450/3 | €2,270 | €796 | -€1,473 | -64.9% |
| Other amounts payable | 47/48 | €27,746 | €33,757 | +€6,011 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,186 | €19,934 | +€747 | +3.9% |
| Other operating charges | 640/8 | €1,421 | €1,229 | -€192 | -13.5% |
| Gross operating margin | 9900 | €8,204 | €16,971 | +€8,767 | +107% |
| Operating profit (loss) | 9901 | -€12,403 | -€4,192 | +€8,211 | +66.2% |
| Financial income | 75/76B | €9,771 | €2,492 | -€7,280 | -74.5% |
| Recurring financial income | 75 | €9,771 | €2,492 | -€7,280 | -74.5% |
| Financial charges | 65/66B | €15,482 | €9,302 | -€6,180 | -39.9% |
| Recurring financial charges | 65 | €15,482 | €9,302 | -€6,180 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | -€18,114 | -€11,003 | +€7,111 | +39.3% |
| Income taxes | 67/77 | €255 | €246 | -€9 | -3.6% |
| Profit (loss) for the period | 9904 | -€18,369 | -€11,249 | +€7,120 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,369 | -€11,249 | +€7,120 | +38.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.