GM58: 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.
GM58
Largest movements
- Current investments +€11,018
new in 2025: €11,018
- Financial fixed assets +€10,000
up €10,000 (+190.5%), from €5,250 to €15,250
- Cash -€7,420
down €7,420 (-35.0%), from €21,185 to €13,766
mainly Investment in fixed assets (net) (-€17,330) and Current investments (-€11,018)
- Receivables within one year +€1,338
up €1,338 (+204.2%), from €655 to €1,993
of which Other amounts receivable: +€1,742
- Other debts +€10,392
up €10,392 (+42.6%), from €24,414 to €34,805
- Trade debts +€6,149
up €6,149 (+80.3%), from €7,660 to €13,809
- Accrued charges and deferred income +€4,635
new in 2025: €4,635
- Tax, wage and social debts -€4,488
down €4,488 (-13.7%), from €32,792 to €28,305
of which Remuneration and social security: -€9,277
- Profit (loss) carried forward -€2,603
down €2,603 (-13.1%), from -€19,827 to -€22,429
- Staff costs +€20,280
up €20,280 (+13.2%), from €154,013 to €174,294
- Gross operating margin +€17,337
up €17,337 (+10.3%), from €167,749 to €185,086
- Depreciation +€1,961
up €1,961 (+33.7%), from €5,819 to €7,781
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.
Cash bridge derived
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 | €57,439 | €71,524 | +€14,085 | +24.5% |
| Fixed assets | 21/28 | €31,913 | €41,462 | +€9,549 | +29.9% |
| Tangible fixed assets | 22/27 | €26,663 | €26,212 | -€451 | -1.7% |
| Plant, machinery and equipment | 23 | €23,645 | €22,435 | -€1,210 | -5.1% |
| Furniture and vehicles | 24 | €142 | €33 | -€109 | -76.7% |
| Other tangible fixed assets | 26 | €2,876 | €3,744 | +€868 | +30.2% |
| Financial fixed assets | 28 | €5,250 | €15,250 | +€10,000 | +190.5% |
| Current assets | 29/58 | €25,527 | €30,062 | +€4,535 | +17.8% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €655 | €1,993 | +€1,338 | +204.2% |
| Trade receivables | 40 | €645 | €240 | -€405 | -62.7% |
| Other amounts receivable | 41 | €10 | €1,752 | +€1,742 | +17267.4% |
| Current investments | 50/53 | - | €11,018 | +€11,018 | |
| Cash at bank and in hand | 54/58 | €21,185 | €13,766 | -€7,420 | -35.0% |
| Deferred charges and accrued income | 490/1 | €1,186 | €785 | -€401 | -33.8% |
| Total equity and liabilities | 10/49 | €57,439 | €71,524 | +€14,085 | +24.5% |
| Equity | 10/15 | -€7,427 | -€10,029 | -€2,603 | -35.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,827 | -€22,429 | -€2,603 | -13.1% |
| Amounts payable | 17/49 | €64,866 | €81,553 | +€16,687 | +25.7% |
| Amounts payable within one year | 42/48 | €64,866 | €76,919 | +€12,053 | +18.6% |
| Trade debts | 44 | €7,660 | €13,809 | +€6,149 | +80.3% |
| Suppliers | 440/4 | €7,660 | €13,809 | +€6,149 | +80.3% |
| Taxes, remuneration and social security | 45 | €32,792 | €28,305 | -€4,488 | -13.7% |
| Taxes | 450/3 | €9,300 | €14,090 | +€4,790 | +51.5% |
| Remuneration and social security | 454/9 | €23,492 | €14,215 | -€9,277 | -39.5% |
| Other amounts payable | 47/48 | €24,414 | €34,805 | +€10,392 | +42.6% |
| Accrued charges and deferred income | 492/3 | - | €4,635 | +€4,635 | |
| Remuneration, social security and pensions | 62 | €154,013 | €174,294 | +€20,280 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,819 | €7,781 | +€1,961 | +33.7% |
| Other operating charges | 640/8 | €1,725 | €2,063 | +€338 | +19.6% |
| Gross operating margin | 9900 | €167,749 | €185,086 | +€17,337 | +10.3% |
| Operating profit (loss) | 9901 | €6,191 | €949 | -€5,243 | -84.7% |
| Financial income | 75/76B | €149 | €144 | -€5 | -3.4% |
| Recurring financial income | 75 | €149 | €144 | -€5 | -3.4% |
| Financial charges | 65/66B | €3,968 | €3,695 | -€272 | -6.9% |
| Recurring financial charges | 65 | €3,968 | €3,695 | -€272 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €2,373 | -€2,603 | -€4,975 | |
| Income taxes | 67/77 | €9 | €0 | -€9 | -99.3% |
| Profit (loss) for the period | 9904 | €2,363 | -€2,603 | -€4,966 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,363 | -€2,603 | -€4,966 |
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 10 October 2026 via checked.be.