GMDesk: 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.
GMDesk
Largest movements
- Tangible fixed assets +€59,785
up €59,785 (+200%), from €29,968 to €89,753
of which Furniture and vehicles: +€59,698
- Cash -€11,519
down €11,519 (-14.2%), from €80,932 to €69,413
mainly Investment in fixed assets (net) (-€69,535) and Contributions, distributions and other (-€24,939)
- Receivables within one year -€8,646
down €8,646 (-71.7%), from €12,066 to €3,420
- Debts after one year +€30,445
new in 2025: €30,445
- Other debts +€15,863
up €15,863 (+115%), from €13,753 to €29,616
- Tax, wage and social debts -€11,558
no longer reported in 2025 (was €11,558)
- Trade debts +€6,466
up €6,466 (+776%), from €833 to €7,299
of which Bills of exchange payable: +€7,242
- Reserves -€3,882
down €3,882 (-4.7%), from €81,943 to €78,061
- Depreciation -€3,490
down €3,490 (-26.4%), from €13,239 to €9,749
- Gross operating margin +€2,565
up €2,565 (+6.4%), from €40,218 to €42,783
- Taxes +€1,931
up €1,931 (+23.7%), from €8,142 to €10,073
- Financial charges +€726
up €726 (+246%), from €295 to €1,021
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 | €126,321 | €166,376 | +€40,055 | +31.7% |
| Fixed assets | 21/28 | €29,968 | €89,753 | +€59,785 | +200% |
| Tangible fixed assets | 22/27 | €29,968 | €89,753 | +€59,785 | +200% |
| Plant, machinery and equipment | 23 | €1,634 | €1,738 | +€104 | +6.4% |
| Furniture and vehicles | 24 | €15,721 | €75,419 | +€59,698 | +380% |
| Other tangible fixed assets | 26 | €12,613 | €12,596 | -€17 | -0.1% |
| Current assets | 29/58 | €96,353 | €76,623 | -€19,730 | -20.5% |
| Amounts receivable within one year | 40/41 | €12,066 | €3,420 | -€8,646 | -71.7% |
| Trade receivables | 40 | €12,066 | €3,420 | -€8,646 | -71.7% |
| Cash at bank and in hand | 54/58 | €80,932 | €69,413 | -€11,519 | -14.2% |
| Deferred charges and accrued income | 490/1 | €3,356 | €3,790 | +€435 | +13.0% |
| Total equity and liabilities | 10/49 | €126,321 | €166,376 | +€40,055 | +31.7% |
| Equity | 10/15 | €94,743 | €90,861 | -€3,882 | -4.1% |
| Contributions | 10/11 | €12,800 | €12,800 | = | 0.0% |
| Reserves | 13 | €81,943 | €78,061 | -€3,882 | -4.7% |
| Distributable reserves | 133 | €81,943 | €78,061 | -€3,882 | -4.7% |
| Amounts payable | 17/49 | €31,578 | €75,515 | +€43,937 | +139% |
| Amounts payable after more than one year | 17 | - | €30,445 | +€30,445 | |
| Financial debts | 170/4 | - | €30,445 | +€30,445 | |
| Amounts payable within one year | 42/48 | €31,578 | €45,015 | +€13,437 | +42.6% |
| Current portion of amounts payable after more than one year | 42 | €5,433 | €8,100 | +€2,667 | +49.1% |
| Trade debts | 44 | €833 | €7,299 | +€6,466 | +776% |
| Suppliers | 440/4 | €833 | €57 | -€776 | -93.2% |
| Bills of exchange payable | 441 | - | €7,242 | +€7,242 | |
| Taxes, remuneration and social security | 45 | €11,558 | - | -€11,558 | |
| Taxes | 450/3 | €11,558 | - | -€11,558 | |
| Other amounts payable | 47/48 | €13,753 | €29,616 | +€15,863 | +115% |
| Accrued charges and deferred income | 492/3 | - | €55 | +€55 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,239 | €9,749 | -€3,490 | -26.4% |
| Other operating charges | 640/8 | €757 | €882 | +€125 | +16.5% |
| Gross operating margin | 9900 | €40,218 | €42,783 | +€2,565 | +6.4% |
| Operating profit (loss) | 9901 | €26,221 | €32,152 | +€5,930 | +22.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €295 | €1,021 | +€726 | +246% |
| Recurring financial charges | 65 | €295 | €1,021 | +€726 | +246% |
| Profit (loss) for the period before taxes | 9903 | €25,927 | €31,131 | +€5,204 | +20.1% |
| Income taxes | 67/77 | €8,142 | €10,073 | +€1,931 | +23.7% |
| Profit (loss) for the period | 9904 | €17,784 | €21,057 | +€3,273 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,784 | €21,057 | +€3,273 | +18.4% |
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 13 October 2026 via checked.be.