GMC-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.
GMC-GROUP
Largest movements
- Cash +€119,474
up €119,474 (+130%), from €91,873 to €211,347
mainly Net result for the year (+€208,731) and Other debts (+€161,733)
- Other debts +€161,733
up €161,733 (+21,983%), from €736 to €162,469
- Reserves -€66,601
no longer reported in 2025 (was €66,601)
- Tax, wage and social debts +€26,025
up €26,025 (+101%), from €25,659 to €51,684
of which Taxes: +€24,725
- Trade debts -€3,998
down €3,998 (-66.4%), from €6,026 to €2,028
- Gross operating margin +€187,112
up €187,112 (+181%), from €103,541 to €290,653
- Taxes +€49,719
up €49,719 (+196%), from €25,350 to €75,069
- Financial charges -€3,609
down €3,609 (-59.0%), from €6,119 to €2,511
of which Non-recurring financial charges: -€3,240
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 | €101,529 | €219,068 | +€117,539 | +116% |
| Fixed assets | 21/28 | €6,729 | €6,897 | +€168 | +2.5% |
| Tangible fixed assets | 22/27 | €6,729 | €5,397 | -€1,332 | -19.8% |
| Plant, machinery and equipment | 23 | - | €1,114 | +€1,114 | |
| Furniture and vehicles | 24 | €6,729 | €4,283 | -€2,446 | -36.3% |
| Financial fixed assets | 28 | - | €1,500 | +€1,500 | |
| Current assets | 29/58 | €94,800 | €212,171 | +€117,371 | +124% |
| Amounts receivable within one year | 40/41 | €2,720 | €824 | -€1,896 | -69.7% |
| Trade receivables | 40 | €1,420 | €44 | -€1,376 | -96.9% |
| Other amounts receivable | 41 | €1,300 | €780 | -€520 | -40.0% |
| Cash at bank and in hand | 54/58 | €91,873 | €211,347 | +€119,474 | +130% |
| Deferred charges and accrued income | 490/1 | €207 | - | -€207 | |
| Total equity and liabilities | 10/49 | €101,529 | €219,068 | +€117,539 | +116% |
| Equity | 10/15 | €69,101 | €2,500 | -€66,601 | -96.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €66,601 | - | -€66,601 | |
| Distributable reserves | 133 | €66,601 | - | -€66,601 | |
| Amounts payable | 17/49 | €32,428 | €216,568 | +€184,140 | +568% |
| Amounts payable within one year | 42/48 | €32,421 | €216,181 | +€183,760 | +567% |
| Trade debts | 44 | €6,026 | €2,028 | -€3,998 | -66.4% |
| Suppliers | 440/4 | €6,026 | €2,028 | -€3,998 | -66.4% |
| Taxes, remuneration and social security | 45 | €25,659 | €51,684 | +€26,025 | +101% |
| Taxes | 450/3 | €25,659 | €50,384 | +€24,725 | +96.4% |
| Remuneration and social security | 454/9 | - | €1,300 | +€1,300 | |
| Other amounts payable | 47/48 | €736 | €162,469 | +€161,733 | +21,983% |
| Accrued charges and deferred income | 492/3 | €8 | €388 | +€380 | +4,903% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,075 | €2,546 | +€1,471 | +137% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€980 | -€980 | |
| Other operating charges | 640/8 | €4,396 | €2,777 | -€1,619 | -36.8% |
| Gross operating margin | 9900 | €103,541 | €290,653 | +€187,112 | +181% |
| Operating profit (loss) | 9901 | €98,070 | €286,310 | +€188,240 | +192% |
| Financial charges | 65/66B | €6,119 | €2,511 | -€3,609 | -59.0% |
| Recurring financial charges | 65 | €2,879 | €2,511 | -€369 | -12.8% |
| Non-recurring financial charges | 66B | €3,240 | - | -€3,240 | |
| Profit (loss) for the period before taxes | 9903 | €91,951 | €283,800 | +€191,849 | +209% |
| Income taxes | 67/77 | €25,350 | €75,069 | +€49,719 | +196% |
| Profit (loss) for the period | 9904 | €66,601 | €208,731 | +€142,130 | +213% |
| Profit (loss) for the period to be appropriated | 9905 | €66,601 | €208,731 | +€142,130 | +213% |
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 27 October 2026 via checked.be.