GMCH: 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.
GMCH
Largest movements
- Cash +€62,281
up €62,281 (+699.0%), from €8,909 to €71,191
mainly Net result for the year (+€81,685) and Depreciation (+€28,903)
- Intangible fixed assets -€14,000
down €14,000 (-10.3%), from €136,471 to €122,471
- Tangible fixed assets -€12,908
down €12,908 (-21.6%), from €59,676 to €46,768
of which Furniture and vehicles: -€14,869
- Deferred charges and accrued income +€10,163
up €10,163 (+81.3%), from €12,493 to €22,656
- Profit (loss) carried forward +€81,685
up €81,685 (+687.9%), from €11,875 to €93,559
- Other debts -€41,196
down €41,196 (-28.3%), from €145,452 to €104,255
- Tax, wage and social debts +€10,601
up €10,601 (+525.3%), from €2,018 to €12,619
- Debts after one year -€10,163
down €10,163 (-23.5%), from €43,241 to €33,078
- Trade debts +€4,332
up €4,332 (+291.3%), from €1,487 to €5,819
- Gross operating margin +€112,602
up €112,602 (+517.3%), from €21,769 to €134,372
- Depreciation +€23,746
up €23,746 (+460.4%), from €5,158 to €28,903
- Taxes +€16,582
up €16,582 (+412.7%), from €4,018 to €20,601
- Financial charges +€2,318
up €2,318 (+764.9%), from €303 to €2,621
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 | €218,831 | €264,492 | +€45,661 | +20.9% |
| Fixed assets | 21/28 | €196,147 | €169,239 | -€26,908 | -13.7% |
| Intangible fixed assets | 21 | €136,471 | €122,471 | -€14,000 | -10.3% |
| Tangible fixed assets | 22/27 | €59,676 | €46,768 | -€12,908 | -21.6% |
| Plant, machinery and equipment | 23 | - | €1,961 | +€1,961 | |
| Furniture and vehicles | 24 | €59,676 | €44,807 | -€14,869 | -24.9% |
| Current assets | 29/58 | €22,684 | €95,253 | +€72,569 | +319.9% |
| Amounts receivable within one year | 40/41 | €1,282 | €1,407 | +€125 | +9.8% |
| Trade receivables | 40 | €1,282 | €1,407 | +€125 | +9.8% |
| Cash at bank and in hand | 54/58 | €8,909 | €71,191 | +€62,281 | +699.0% |
| Deferred charges and accrued income | 490/1 | €12,493 | €22,656 | +€10,163 | +81.3% |
| Total equity and liabilities | 10/49 | €218,831 | €264,492 | +€45,661 | +20.9% |
| Equity | 10/15 | €16,875 | €98,559 | +€81,685 | +484.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,875 | €93,559 | +€81,685 | +687.9% |
| Amounts payable | 17/49 | €201,957 | €165,933 | -€36,024 | -17.8% |
| Amounts payable after more than one year | 17 | €43,241 | €33,078 | -€10,163 | -23.5% |
| Financial debts | 170/4 | €43,241 | €33,078 | -€10,163 | -23.5% |
| Amounts payable within one year | 42/48 | €158,716 | €132,855 | -€25,861 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €9,760 | €10,163 | +€403 | +4.1% |
| Trade debts | 44 | €1,487 | €5,819 | +€4,332 | +291.3% |
| Suppliers | 440/4 | €1,487 | €5,819 | +€4,332 | +291.3% |
| Taxes, remuneration and social security | 45 | €2,018 | €12,619 | +€10,601 | +525.3% |
| Taxes | 450/3 | €2,018 | €12,619 | +€10,601 | +525.3% |
| Other amounts payable | 47/48 | €145,452 | €104,255 | -€41,196 | -28.3% |
| Accrued charges and deferred income | 492/3 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,158 | €28,903 | +€23,746 | +460.4% |
| Other operating charges | 640/8 | €417 | €562 | +€145 | +34.7% |
| Gross operating margin | 9900 | €21,769 | €134,372 | +€112,602 | +517.3% |
| Operating profit (loss) | 9901 | €16,194 | €104,906 | +€88,712 | +547.8% |
| Financial income | 75/76B | €1 | €0 | -€1 | -96.3% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -96.3% |
| Financial charges | 65/66B | €303 | €2,621 | +€2,318 | +764.9% |
| Recurring financial charges | 65 | €303 | €2,621 | +€2,318 | +764.9% |
| Profit (loss) for the period before taxes | 9903 | €15,893 | €102,285 | +€86,393 | +543.6% |
| Income taxes | 67/77 | €4,018 | €20,601 | +€16,582 | +412.7% |
| Profit (loss) for the period | 9904 | €11,875 | €81,685 | +€69,810 | +587.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,875 | €81,685 | +€69,810 | +587.9% |
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 6 October 2026 via checked.be.