GMB Group: 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.
GMB Group
Largest movements
- Cash -€99,145
down €99,145 (-56.8%), from €174,574 to €75,429
mainly Receivables within one year (-€76,324) and Other debts (-€41,430)
- Receivables within one year +€76,324
up €76,324 (+67.0%), from €113,933 to €190,257
of which Trade receivables: +€44,174
- Stocks and contracts +€39,235
up €39,235 (+560.3%), from €7,002 to €46,237
- Tangible fixed assets +€7,697
up €7,697 (+270.6%), from €2,845 to €10,542
of which Furniture and vehicles: +€7,767
- Other debts -€41,430
no longer reported in 2025 (was €41,430)
- Short-term financial debts +€40,000
new in 2025: €40,000
- Trade debts +€22,128
up €22,128 (+154.9%), from €14,281 to €36,409
- Gross operating margin -€119,394
down €119,394 (-91.5%), from €130,451 to €11,057
- Taxes -€29,843
down €29,843 (-89.2%), from €33,455 to €3,612
- Depreciation -€4,953
down €4,953 (-94.6%), from €5,236 to €283
- Financial charges -€3,847
down €3,847 (-46.8%), from €8,222 to €4,375
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 | €305,098 | €328,996 | +€23,898 | +7.8% |
| Fixed assets | 21/28 | €9,589 | €17,073 | +€7,484 | +78.1% |
| Intangible fixed assets | 21 | €6,224 | €6,011 | -€213 | -3.4% |
| Tangible fixed assets | 22/27 | €2,845 | €10,542 | +€7,697 | +270.6% |
| Plant, machinery and equipment | 23 | €2,845 | €2,775 | -€70 | -2.5% |
| Furniture and vehicles | 24 | - | €7,767 | +€7,767 | |
| Financial fixed assets | 28 | €520 | €520 | = | 0.0% |
| Current assets | 29/58 | €295,509 | €311,923 | +€16,414 | +5.6% |
| Stocks and contracts in progress | 3 | €7,002 | €46,237 | +€39,235 | +560.3% |
| Stocks | 30/36 | €7,002 | €46,237 | +€39,235 | +560.3% |
| Amounts receivable within one year | 40/41 | €113,933 | €190,257 | +€76,324 | +67.0% |
| Trade receivables | 40 | €23,647 | €67,821 | +€44,174 | +186.8% |
| Other amounts receivable | 41 | €90,286 | €122,436 | +€32,149 | +35.6% |
| Cash at bank and in hand | 54/58 | €174,574 | €75,429 | -€99,145 | -56.8% |
| Total equity and liabilities | 10/49 | €305,098 | €328,996 | +€23,898 | +7.8% |
| Equity | 10/15 | €246,076 | €247,273 | +€1,198 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €227,476 | €228,673 | +€1,198 | +0.5% |
| Distributable reserves | 133 | €227,476 | €228,673 | +€1,198 | +0.5% |
| Amounts payable | 17/49 | €59,022 | €81,723 | +€22,701 | +38.5% |
| Amounts payable within one year | 42/48 | €59,022 | €81,723 | +€22,701 | +38.5% |
| Financial debts | 43 | - | €40,000 | +€40,000 | |
| Credit institutions | 430/8 | - | €40,000 | +€40,000 | |
| Trade debts | 44 | €14,281 | €36,409 | +€22,128 | +154.9% |
| Suppliers | 440/4 | €14,281 | €36,409 | +€22,128 | +154.9% |
| Taxes, remuneration and social security | 45 | €3,311 | €5,313 | +€2,002 | +60.5% |
| Taxes | 450/3 | €3,311 | €5,313 | +€2,002 | +60.5% |
| Other amounts payable | 47/48 | €41,430 | - | -€41,430 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,236 | €283 | -€4,953 | -94.6% |
| Other operating charges | 640/8 | €1,340 | €1,625 | +€285 | +21.3% |
| Gross operating margin | 9900 | €130,451 | €11,057 | -€119,394 | -91.5% |
| Operating profit (loss) | 9901 | €123,875 | €9,149 | -€114,726 | -92.6% |
| Financial income | 75/76B | €72 | €35 | -€37 | -50.8% |
| Recurring financial income | 75 | €72 | €35 | -€37 | -50.8% |
| Financial charges | 65/66B | €8,222 | €4,375 | -€3,847 | -46.8% |
| Recurring financial charges | 65 | €8,222 | €4,375 | -€3,847 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €115,725 | €4,810 | -€110,915 | -95.8% |
| Income taxes | 67/77 | €33,455 | €3,612 | -€29,843 | -89.2% |
| Profit (loss) for the period | 9904 | €82,270 | €1,198 | -€81,072 | -98.5% |
| Profit (loss) for the period to be appropriated | 9905 | €82,270 | €1,198 | -€81,072 | -98.5% |
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 12 October 2026 via checked.be.