GMAXI: what changed
Two fiscal 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.
GMAXI
Largest movements
- Cash +€41,724
up €41,724 (+86.4%), from €48,311 to €90,035
mainly Net result for the year (+€24,546) and Other debts (+€22,232)
- Tangible fixed assets -€4,944
down €4,944 (-10.3%), from €48,117 to €43,173
of which Furniture and vehicles: -€7,433
- Receivables within one year +€4,574
up €4,574 (+11.4%), from €40,175 to €44,748
of which Trade receivables: +€8,953
- Profit (loss) carried forward +€24,546
up €24,546 (+28.8%), from €85,107 to €109,654
- Other debts +€22,232
up €22,232 (+65.2%), from €34,076 to €56,307
- Trade debts -€3,034
down €3,034 (-47.6%), from €6,376 to €3,342
- Gross operating margin +€81,574
up €81,574, from -€1,154 to €80,420
- Financial charges +€36,027
up €36,027 (+18178.0%), from €198 to €36,225
- Depreciation +€9,343
up €9,343 (+454.2%), from €2,057 to €11,399
- Taxes +€6,994
up €6,994 (+2318.9%), from €302 to €7,296
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 | €136,737 | €178,494 | +€41,757 | +30.5% |
| Fixed assets | 21/28 | €48,117 | €43,173 | -€4,944 | -10.3% |
| Tangible fixed assets | 22/27 | €48,117 | €43,173 | -€4,944 | -10.3% |
| Plant, machinery and equipment | 23 | - | €2,489 | +€2,489 | |
| Furniture and vehicles | 24 | €48,117 | €40,683 | -€7,433 | -15.4% |
| Current assets | 29/58 | €88,621 | €135,322 | +€46,701 | +52.7% |
| Amounts receivable within one year | 40/41 | €40,175 | €44,748 | +€4,574 | +11.4% |
| Trade receivables | 40 | €23,170 | €32,123 | +€8,953 | +38.6% |
| Other amounts receivable | 41 | €17,005 | €12,626 | -€4,379 | -25.8% |
| Cash at bank and in hand | 54/58 | €48,311 | €90,035 | +€41,724 | +86.4% |
| Deferred charges and accrued income | 490/1 | €135 | €538 | +€403 | +297.7% |
| Total equity and liabilities | 10/49 | €136,737 | €178,494 | +€41,757 | +30.5% |
| Equity | 10/15 | €88,107 | €112,654 | +€24,546 | +27.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,107 | €109,654 | +€24,546 | +28.8% |
| Amounts payable | 17/49 | €48,630 | €65,840 | +€17,210 | +35.4% |
| Amounts payable within one year | 42/48 | €47,302 | €65,840 | +€18,538 | +39.2% |
| Trade debts | 44 | €6,376 | €3,342 | -€3,034 | -47.6% |
| Suppliers | 440/4 | €6,376 | €3,342 | -€3,034 | -47.6% |
| Taxes, remuneration and social security | 45 | €6,850 | €6,191 | -€659 | -9.6% |
| Taxes | 450/3 | €4,500 | €6,191 | +€1,691 | +37.6% |
| Remuneration and social security | 454/9 | €2,350 | €0 | -€2,350 | -100.0% |
| Other amounts payable | 47/48 | €34,076 | €56,307 | +€22,232 | +65.2% |
| Accrued charges and deferred income | 492/3 | €1,328 | €0 | -€1,328 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,057 | €11,399 | +€9,343 | +454.2% |
| Other operating charges | 640/8 | €702 | €953 | +€251 | +35.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€1,154 | €80,420 | +€81,574 | |
| Operating profit (loss) | 9901 | -€3,913 | €68,068 | +€71,981 | |
| Financial income | 75/76B | €8 | €0 | -€8 | -99.4% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -99.4% |
| Financial charges | 65/66B | €198 | €36,225 | +€36,027 | +18178.0% |
| Recurring financial charges | 65 | €198 | €36,225 | +€36,027 | +18178.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,103 | €31,842 | +€35,946 | |
| Income taxes | 67/77 | €302 | €7,296 | +€6,994 | +2318.9% |
| Profit (loss) for the period | 9904 | -€4,405 | €24,546 | +€28,951 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,405 | €24,546 | +€28,951 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.