GMDB Engineering: 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.
GMDB Engineering
Largest movements
- Cash -€27,024
down €27,024 (-47.3%), from €57,097 to €30,073
mainly Contributions, distributions and other (-€40,658) and Other debts (-€30,936)
- Tangible fixed assets -€9,814
down €9,814 (-37.1%), from €26,459 to €16,645
of which Furniture and vehicles: -€11,714
- Receivables within one year +€3,167
up €3,167 (+4.7%), from €66,970 to €70,137
of which Other amounts receivable: +€1,672
- Other debts -€30,936
down €30,936 (-41.4%), from €74,660 to €43,725
- Tax, wage and social debts -€6,262
down €6,262 (-73.3%), from €8,548 to €2,286
- Accrued charges and deferred income +€3,793
new in 2025: €3,793
- Gross operating margin -€43,968
down €43,968 (-40.6%), from €108,174 to €64,206
- Taxes -€8,806
down €8,806 (-45.0%), from €19,549 to €10,743
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 | €150,526 | €117,966 | -€32,560 | -21.6% |
| Fixed assets | 21/28 | €26,459 | €16,645 | -€9,814 | -37.1% |
| Tangible fixed assets | 22/27 | €26,459 | €16,645 | -€9,814 | -37.1% |
| Plant, machinery and equipment | 23 | - | €2,174 | +€2,174 | |
| Furniture and vehicles | 24 | €23,742 | €12,028 | -€11,714 | -49.3% |
| Other tangible fixed assets | 26 | €2,718 | €2,444 | -€274 | -10.1% |
| Current assets | 29/58 | €124,067 | €101,320 | -€22,746 | -18.3% |
| Amounts receivable within one year | 40/41 | €66,970 | €70,137 | +€3,167 | +4.7% |
| Trade receivables | 40 | €61,385 | €62,880 | +€1,495 | +2.4% |
| Other amounts receivable | 41 | €5,585 | €7,257 | +€1,672 | +29.9% |
| Cash at bank and in hand | 54/58 | €57,097 | €30,073 | -€27,024 | -47.3% |
| Deferred charges and accrued income | 490/1 | €0 | €1,111 | +€1,111 | |
| Total equity and liabilities | 10/49 | €150,526 | €117,966 | -€32,560 | -21.6% |
| Equity | 10/15 | €67,095 | €67,095 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €64,095 | €64,095 | = | 0.0% |
| Distributable reserves | 133 | €64,095 | €64,095 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €83,431 | €50,871 | -€32,560 | -39.0% |
| Amounts payable within one year | 42/48 | €83,431 | €47,078 | -€36,354 | -43.6% |
| Trade debts | 44 | €223 | €1,067 | +€844 | +378.5% |
| Suppliers | 440/4 | €223 | €1,067 | +€844 | +378.5% |
| Taxes, remuneration and social security | 45 | €8,548 | €2,286 | -€6,262 | -73.3% |
| Taxes | 450/3 | €8,548 | €2,286 | -€6,262 | -73.3% |
| Other amounts payable | 47/48 | €74,660 | €43,725 | -€30,936 | -41.4% |
| Accrued charges and deferred income | 492/3 | - | €3,793 | +€3,793 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,210 | €12,227 | +€17 | +0.1% |
| Other operating charges | 640/8 | €1,524 | €462 | -€1,062 | -69.7% |
| Gross operating margin | 9900 | €108,174 | €64,206 | -€43,968 | -40.6% |
| Operating profit (loss) | 9901 | €94,440 | €51,517 | -€42,923 | -45.5% |
| Financial income | 75/76B | €9 | €0 | -€9 | -99.9% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -99.9% |
| Financial charges | 65/66B | €240 | €116 | -€125 | -51.9% |
| Recurring financial charges | 65 | €240 | €116 | -€125 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | €94,209 | €51,401 | -€42,808 | -45.4% |
| Income taxes | 67/77 | €19,549 | €10,743 | -€8,806 | -45.0% |
| Profit (loss) for the period | 9904 | €74,660 | €40,658 | -€34,002 | -45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €74,660 | €40,658 | -€34,002 | -45.5% |
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 8 October 2026 via checked.be.