GMD PARTNERS: 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.
GMD PARTNERS
Largest movements
- Receivables within one year -€545
no longer reported in 2026 (was €545)
of which Trade receivables: -€387
- Cash +€224
up €224 (+76.9%), from €292 to €516
- Tangible fixed assets -€117
no longer reported in 2026 (was €117)
- Other debts -€47,302
down €47,302 (-59.0%), from €80,141 to €32,839
- Profit (loss) carried forward +€42,191
up €42,191 (+45.3%), from -€93,211 to -€51,020
- Contributions +€6,000
up €6,000 (+47.6%), from €12,600 to €18,600
- Trade debts -€696
down €696 (-87.8%), from €793 to €97
- Accrued charges and deferred income -€544
no longer reported in 2026 (was €544)
- Gross operating margin +€7,252
up €7,252 (+2277.8%), from €318 to €7,570
- Depreciation -€117
no longer reported in 2026 (was €117)
- Other operating charges -€86
down €86 (-17.7%), from €486 to €400
From the 2022 result to the 2026 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €954 | €516 | -€438 | -45.9% |
| Fixed assets | 21/28 | €117 | - | -€117 | |
| Tangible fixed assets | 22/27 | €117 | - | -€117 | |
| Furniture and vehicles | 24 | €117 | - | -€117 | |
| Current assets | 29/58 | €837 | €516 | -€321 | -38.4% |
| Amounts receivable within one year | 40/41 | €545 | - | -€545 | |
| Trade receivables | 40 | €387 | - | -€387 | |
| Other amounts receivable | 41 | €158 | - | -€158 | |
| Cash at bank and in hand | 54/58 | €292 | €516 | +€224 | +76.9% |
| Total equity and liabilities | 10/49 | €954 | €516 | -€438 | -45.9% |
| Equity | 10/15 | -€80,611 | -€32,420 | +€48,191 | +59.8% |
| Contributions | 10/11 | €12,600 | €18,600 | +€6,000 | +47.6% |
| Profit (loss) carried forward | 14 | -€93,211 | -€51,020 | +€42,191 | +45.3% |
| Amounts payable | 17/49 | €81,564 | €32,936 | -€48,629 | -59.6% |
| Amounts payable within one year | 42/48 | €81,021 | €32,936 | -€48,085 | -59.3% |
| Financial debts | 43 | €87 | - | -€87 | |
| Credit institutions | 430/8 | €87 | - | -€87 | |
| Trade debts | 44 | €793 | €97 | -€696 | -87.8% |
| Suppliers | 440/4 | €793 | €97 | -€696 | -87.8% |
| Other amounts payable | 47/48 | €80,141 | €32,839 | -€47,302 | -59.0% |
| Accrued charges and deferred income | 492/3 | €544 | - | -€544 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117 | - | -€117 | |
| Other operating charges | 640/8 | €486 | €400 | -€86 | -17.7% |
| Gross operating margin | 9900 | €318 | €7,570 | +€7,252 | +2277.8% |
| Operating profit (loss) | 9901 | -€284 | €7,170 | +€7,454 | |
| Financial charges | 65/66B | €117 | €184 | +€67 | +57.2% |
| Recurring financial charges | 65 | €117 | €184 | +€67 | +57.2% |
| Profit (loss) for the period before taxes | 9903 | -€401 | €6,986 | +€7,387 | |
| Profit (loss) for the period | 9904 | -€401 | €6,986 | +€7,387 | |
| Profit (loss) for the period to be appropriated | 9905 | -€401 | €6,986 | +€7,387 |
Source: filed annual accounts (NBB), financial years ended 31 March 2022 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.