GMBC: 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.
GMBC
Largest movements
- Tangible fixed assets -€27,225
down €27,225 (-5.2%), from €519,258 to €492,032
of which Land and buildings: -€13,921
- Debts after one year -€23,004
down €23,004 (-9.7%), from €236,509 to €213,505
- Reserves +€12,350
up €12,350 (+8.8%), from €140,778 to €153,128
of which Distributable reserves: +€12,350
- Short-term financial debts -€11,750
down €11,750 (-78.8%), from €14,918 to €3,167
- Gross operating margin +€6,495
up €6,495 (+9.1%), from €71,712 to €78,207
- Depreciation +€2,946
up €2,946 (+7.7%), from €38,347 to €41,293
- Other operating charges +€1,032
up €1,032 (+13.8%), from €7,469 to €8,501
- Taxes +€940
up €940 (+9.4%), from €9,971 to €10,911
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 | €1,001,252 | €973,420 | -€27,832 | -2.8% |
| Fixed assets | 21/28 | €901,924 | €874,699 | -€27,225 | -3.0% |
| Tangible fixed assets | 22/27 | €519,258 | €492,032 | -€27,225 | -5.2% |
| Land and buildings | 22 | €472,156 | €458,234 | -€13,921 | -2.9% |
| Plant, machinery and equipment | 23 | €621 | €1,141 | +€520 | +83.8% |
| Furniture and vehicles | 24 | €46,481 | €32,657 | -€13,824 | -29.7% |
| Financial fixed assets | 28 | €382,667 | €382,667 | = | 0.0% |
| Current assets | 29/58 | €99,328 | €98,721 | -€607 | -0.6% |
| Amounts receivable within one year | 40/41 | €90,976 | €90,506 | -€470 | -0.5% |
| Trade receivables | 40 | €89,056 | €86,439 | -€2,617 | -2.9% |
| Other amounts receivable | 41 | €1,920 | €4,067 | +€2,147 | +111.8% |
| Cash at bank and in hand | 54/58 | €617 | €967 | +€350 | +56.8% |
| Deferred charges and accrued income | 490/1 | €7,735 | €7,248 | -€488 | -6.3% |
| Total equity and liabilities | 10/49 | €1,001,252 | €973,420 | -€27,832 | -2.8% |
| Equity | 10/15 | €459,074 | €471,423 | +€12,350 | +2.7% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €140,778 | €153,128 | +€12,350 | +8.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €140,778 | €153,128 | +€12,350 | +8.8% |
| Profit (loss) carried forward | 14 | €243,895 | €243,895 | = | 0.0% |
| Amounts payable | 17/49 | €542,179 | €501,997 | -€40,182 | -7.4% |
| Amounts payable after more than one year | 17 | €236,509 | €213,505 | -€23,004 | -9.7% |
| Financial debts | 170/4 | €236,509 | €213,505 | -€23,004 | -9.7% |
| Amounts payable within one year | 42/48 | €305,316 | €287,140 | -€18,176 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €15,631 | €16,482 | +€851 | +5.4% |
| Financial debts | 43 | €14,918 | €3,167 | -€11,750 | -78.8% |
| Credit institutions | 430/8 | €14,918 | €3,167 | -€11,750 | -78.8% |
| Trade debts | 44 | €8,044 | €8,681 | +€636 | +7.9% |
| Suppliers | 440/4 | €8,044 | €8,681 | +€636 | +7.9% |
| Taxes, remuneration and social security | 45 | €11,394 | €11,594 | +€201 | +1.8% |
| Taxes | 450/3 | €11,394 | €8,819 | -€2,574 | -22.6% |
| Remuneration and social security | 454/9 | - | €2,775 | +€2,775 | |
| Other amounts payable | 47/48 | €255,329 | €247,215 | -€8,114 | -3.2% |
| Accrued charges and deferred income | 492/3 | €354 | €1,352 | +€998 | +281.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,347 | €41,293 | +€2,946 | +7.7% |
| Other operating charges | 640/8 | €7,469 | €8,501 | +€1,032 | +13.8% |
| Gross operating margin | 9900 | €71,712 | €78,207 | +€6,495 | +9.1% |
| Operating profit (loss) | 9901 | €25,897 | €28,413 | +€2,517 | +9.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -95.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -95.0% |
| Financial charges | 65/66B | €5,596 | €5,153 | -€443 | -7.9% |
| Recurring financial charges | 65 | €5,596 | €5,153 | -€443 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €20,301 | €23,261 | +€2,960 | +14.6% |
| Income taxes | 67/77 | €9,971 | €10,911 | +€940 | +9.4% |
| Profit (loss) for the period | 9904 | €10,330 | €12,350 | +€2,020 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,330 | €12,350 | +€2,020 | +19.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.