GManagement: 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.
GManagement
Largest movements
- Cash -€59,176
down €59,176 (-70.5%), from €83,880 to €24,704
mainly Advances received (-€110,291) and Tax, wage and social debts (-€9,562)
- Receivables within one year -€7,298
down €7,298 (-5.7%), from €128,865 to €121,568
of which Trade receivables: -€9,375
- Tangible fixed assets +€3,892
up €3,892 (+313%), from €1,244 to €5,136
of which Furniture and vehicles: +€3,562
- Advances received -€110,291
down €110,291 (-63.0%), from €175,005 to €64,714
- Trade debts +€48,623
up €48,623 (+302%), from €16,096 to €64,719
- Tax, wage and social debts -€9,562
down €9,562 (-88.6%), from €10,794 to €1,232
- Profit (loss) carried forward +€7,042
up €7,042, from -€6,310 to €732
- Gross operating margin +€4,438
up €4,438 (+37.0%), from €11,993 to €16,430
- Taxes +€1,942
up €1,942 (+65.8%), from €2,953 to €4,895
- Staff costs -€1,096
down €1,096 (-100%), from €1,096 to €0
- Other operating charges -€720
down €720 (-26.5%), from €2,722 to €2,002
- Financial charges +€197
up €197 (+24.7%), from €798 to €995
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 | €216,155 | €151,432 | -€64,723 | -29.9% |
| Fixed assets | 21/28 | €1,244 | €5,136 | +€3,892 | +313% |
| Tangible fixed assets | 22/27 | €1,244 | €5,136 | +€3,892 | +313% |
| Plant, machinery and equipment | 23 | €325 | €655 | +€330 | +101% |
| Furniture and vehicles | 24 | €919 | €4,481 | +€3,562 | +388% |
| Current assets | 29/58 | €214,911 | €146,296 | -€68,615 | -31.9% |
| Amounts receivable within one year | 40/41 | €128,865 | €121,568 | -€7,298 | -5.7% |
| Trade receivables | 40 | €108,741 | €99,367 | -€9,375 | -8.6% |
| Other amounts receivable | 41 | €20,124 | €22,201 | +€2,077 | +10.3% |
| Cash at bank and in hand | 54/58 | €83,880 | €24,704 | -€59,176 | -70.5% |
| Deferred charges and accrued income | 490/1 | €2,166 | €24 | -€2,142 | -98.9% |
| Total equity and liabilities | 10/49 | €216,155 | €151,432 | -€64,723 | -29.9% |
| Equity | 10/15 | €12,400 | €19,442 | +€7,042 | +56.8% |
| Contributions | 10/11 | €18,710 | €18,710 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,310 | €732 | +€7,042 | |
| Amounts payable | 17/49 | €203,755 | €131,990 | -€71,765 | -35.2% |
| Amounts payable within one year | 42/48 | €203,726 | €131,990 | -€71,737 | -35.2% |
| Current portion of amounts payable after more than one year | 42 | €1,406 | €0 | -€1,406 | -100% |
| Trade debts | 44 | €16,096 | €64,719 | +€48,623 | +302% |
| Suppliers | 440/4 | €16,096 | €64,719 | +€48,623 | +302% |
| Advances received on contracts in progress | 46 | €175,005 | €64,714 | -€110,291 | -63.0% |
| Taxes, remuneration and social security | 45 | €10,794 | €1,232 | -€9,562 | -88.6% |
| Taxes | 450/3 | €10,794 | €1,232 | -€9,562 | -88.6% |
| Other amounts payable | 47/48 | €425 | €1,325 | +€900 | +212% |
| Accrued charges and deferred income | 492/3 | €29 | €0 | -€29 | -100% |
| Remuneration, social security and pensions | 62 | €1,096 | €0 | -€1,096 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,356 | €1,515 | +€159 | +11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,722 | €2,002 | -€720 | -26.5% |
| Gross operating margin | 9900 | €11,993 | €16,430 | +€4,438 | +37.0% |
| Operating profit (loss) | 9901 | €6,818 | €12,914 | +€6,095 | +89.4% |
| Financial income | 75/76B | €10 | €19 | +€8 | +79.8% |
| Recurring financial income | 75 | €10 | €19 | +€8 | +79.8% |
| Financial charges | 65/66B | €798 | €995 | +€197 | +24.7% |
| Recurring financial charges | 65 | €798 | €995 | +€197 | +24.7% |
| Profit (loss) for the period before taxes | 9903 | €6,031 | €11,937 | +€5,906 | +97.9% |
| Income taxes | 67/77 | €2,953 | €4,895 | +€1,942 | +65.8% |
| Profit (loss) for the period | 9904 | €3,078 | €7,042 | +€3,964 | +129% |
| Profit (loss) for the period to be appropriated | 9905 | €3,078 | €7,042 | +€3,964 | +129% |
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 17 October 2026 via checked.be.