GMER: 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.
GMER
Largest movements
- Receivables within one year +€75,460
up €75,460 (+210%), from €35,896 to €111,357
of which Trade receivables: +€60,779
- Cash -€23,852
down €23,852 (-88.6%), from €26,917 to €3,064
mainly Receivables within one year (-€75,460) and Trade debts (-€32,448)
- Tangible fixed assets -€22,968
down €22,968 (-22.5%), from €102,106 to €79,138
of which Furniture and vehicles: -€15,819
- Stocks and contracts -€11,150
down €11,150 (-33.1%), from €33,650 to €22,500
of which Contracts in progress: -€10,000
- Accrued charges and deferred income +€68,000
new in 2025: €68,000
- Trade debts -€32,448
down €32,448 (-94.2%), from €34,450 to €2,001
- Debts after one year -€31,561
down €31,561 (-30.4%), from €103,720 to €72,159
- Profit (loss) carried forward +€5,581
up €5,581 (+33.0%), from €16,934 to €22,515
- Tax, wage and social debts +€4,259
up €4,259 (+108%), from €3,938 to €8,198
of which Taxes: +€3,706
- Other operating charges -€10,948
down €10,948 (-72.7%), from €15,054 to €4,106
- Depreciation +€7,989
up €7,989 (+39.3%), from €20,324 to €28,312
- Gross operating margin +€7,569
up €7,569 (+15.2%), from €49,928 to €57,496
- Staff costs +€6,208
new in 2025: €6,208
- Taxes +€2,053
up €2,053 (+86.9%), from €2,364 to €4,417
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 | €203,719 | €220,459 | +€16,740 | +8.2% |
| Fixed assets | 21/28 | €107,256 | €83,538 | -€23,718 | -22.1% |
| Intangible fixed assets | 21 | €3,750 | €3,000 | -€750 | -20.0% |
| Tangible fixed assets | 22/27 | €102,106 | €79,138 | -€22,968 | -22.5% |
| Plant, machinery and equipment | 23 | €1,145 | €1,102 | -€43 | -3.8% |
| Furniture and vehicles | 24 | €48,701 | €32,882 | -€15,819 | -32.5% |
| Leasing and similar rights | 25 | €52,260 | €45,154 | -€7,106 | -13.6% |
| Financial fixed assets | 28 | €1,400 | €1,400 | = | 0.0% |
| Current assets | 29/58 | €96,463 | €136,921 | +€40,458 | +41.9% |
| Stocks and contracts in progress | 3 | €33,650 | €22,500 | -€11,150 | -33.1% |
| Stocks | 30/36 | €13,150 | €12,000 | -€1,150 | -8.7% |
| Contracts in progress | 37 | €20,500 | €10,500 | -€10,000 | -48.8% |
| Amounts receivable within one year | 40/41 | €35,896 | €111,357 | +€75,460 | +210% |
| Trade receivables | 40 | €7,501 | €68,280 | +€60,779 | +810% |
| Other amounts receivable | 41 | €28,396 | €43,077 | +€14,681 | +51.7% |
| Cash at bank and in hand | 54/58 | €26,917 | €3,064 | -€23,852 | -88.6% |
| Total equity and liabilities | 10/49 | €203,719 | €220,459 | +€16,740 | +8.2% |
| Equity | 10/15 | €29,334 | €34,915 | +€5,581 | +19.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,934 | €22,515 | +€5,581 | +33.0% |
| Amounts payable | 17/49 | €174,385 | €185,544 | +€11,159 | +6.4% |
| Amounts payable after more than one year | 17 | €103,720 | €72,159 | -€31,561 | -30.4% |
| Financial debts | 170/4 | €103,720 | €72,159 | -€31,561 | -30.4% |
| Amounts payable within one year | 42/48 | €70,665 | €45,385 | -€25,280 | -35.8% |
| Current portion of amounts payable after more than one year | 42 | €32,277 | €35,186 | +€2,909 | +9.0% |
| Trade debts | 44 | €34,450 | €2,001 | -€32,448 | -94.2% |
| Suppliers | 440/4 | €34,450 | €2,001 | -€32,448 | -94.2% |
| Taxes, remuneration and social security | 45 | €3,938 | €8,198 | +€4,259 | +108% |
| Taxes | 450/3 | €3,938 | €7,645 | +€3,706 | +94.1% |
| Remuneration and social security | 454/9 | - | €553 | +€553 | |
| Accrued charges and deferred income | 492/3 | - | €68,000 | +€68,000 | |
| Remuneration, social security and pensions | 62 | - | €6,208 | +€6,208 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,324 | €28,312 | +€7,989 | +39.3% |
| Other operating charges | 640/8 | €15,054 | €4,106 | -€10,948 | -72.7% |
| Non-recurring operating charges | 66A | €283 | €50 | -€233 | -82.3% |
| Gross operating margin | 9900 | €49,928 | €57,496 | +€7,569 | +15.2% |
| Operating profit (loss) | 9901 | €14,268 | €18,820 | +€4,552 | +31.9% |
| Financial income | 75/76B | €741 | €1,781 | +€1,040 | +140% |
| Recurring financial income | 75 | €741 | €1,781 | +€1,040 | +140% |
| Financial charges | 65/66B | €9,164 | €10,602 | +€1,439 | +15.7% |
| Recurring financial charges | 65 | €9,164 | €10,602 | +€1,439 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €5,845 | €9,998 | +€4,153 | +71.0% |
| Income taxes | 67/77 | €2,364 | €4,417 | +€2,053 | +86.9% |
| Profit (loss) for the period | 9904 | €3,482 | €5,581 | +€2,100 | +60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,482 | €5,581 | +€2,100 | +60.3% |
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 17 October 2026 via checked.be.