GMF COMPANY: what changed
GMF COMPANY
Largest movements
- Tangible fixed assets +€23,416
up €23,416 (+315%), from €7,431 to €30,847
of which Furniture and vehicles: +€27,416
- Cash +€13,246
up €13,246 (+38.4%), from €34,479 to €47,725
mainly Tax, wage and social debts (+€73,669) and Other debts (+€24,001)
- Receivables within one year +€12,074
up €12,074 (+36.5%), from €33,123 to €45,197
of which Other amounts receivable: +€9,409
- Deferred charges and accrued income -€4,740
down €4,740 (-39.7%), from €11,945 to €7,205
- Tax, wage and social debts +€73,669
up €73,669 (+66.3%), from €111,182 to €184,851
of which Remuneration and social security: +€75,363
- Profit (loss) carried forward -€49,167
down €49,167 (-94.4%), from -€52,101 to -€101,268
- Other debts +€24,001
new in 2025: €24,001
- Debts after one year -€3,301
down €3,301 (-10.2%), from €32,487 to €29,186
- Current portion of long-term debt -€2,288
down €2,288 (-75.7%), from €3,025 to €736
- Staff costs +€361,326
up €361,326 (+65.3%), from €552,978 to €914,304
- Gross operating margin +€326,538
up €326,538 (+59.1%), from €552,207 to €878,745
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €114,298 | €158,789 | +€44,491 | +38.9% |
| Fixed assets | 21/28 | €34,751 | €58,662 | +€23,911 | +68.8% |
| Tangible fixed assets | 22/27 | €7,431 | €30,847 | +€23,416 | +315% |
| Furniture and vehicles | 24 | €3,431 | €30,847 | +€27,416 | +799% |
| Assets under construction and advance payments | 27 | €4,000 | - | -€4,000 | |
| Financial fixed assets | 28 | €27,320 | €27,815 | +€495 | +1.8% |
| Current assets | 29/58 | €79,547 | €100,127 | +€20,580 | +25.9% |
| Amounts receivable within one year | 40/41 | €33,123 | €45,197 | +€12,074 | +36.5% |
| Trade receivables | 40 | - | €2,665 | +€2,665 | |
| Other amounts receivable | 41 | €33,123 | €42,532 | +€9,409 | +28.4% |
| Cash at bank and in hand | 54/58 | €34,479 | €47,725 | +€13,246 | +38.4% |
| Deferred charges and accrued income | 490/1 | €11,945 | €7,205 | -€4,740 | -39.7% |
| Total equity and liabilities | 10/49 | €114,298 | €158,789 | +€44,491 | +38.9% |
| Equity | 10/15 | -€47,101 | -€96,268 | -€49,167 | -104% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,101 | -€101,268 | -€49,167 | -94.4% |
| Amounts payable | 17/49 | €161,399 | €255,057 | +€93,658 | +58.0% |
| Amounts payable after more than one year | 17 | €32,487 | €29,186 | -€3,301 | -10.2% |
| Financial debts | 170/4 | €32,487 | €29,186 | -€3,301 | -10.2% |
| Amounts payable within one year | 42/48 | €127,519 | €223,306 | +€95,788 | +75.1% |
| Current portion of amounts payable after more than one year | 42 | €3,025 | €736 | -€2,288 | -75.7% |
| Trade debts | 44 | €13,312 | €13,718 | +€406 | +3.1% |
| Suppliers | 440/4 | €13,312 | €13,718 | +€406 | +3.1% |
| Taxes, remuneration and social security | 45 | €111,182 | €184,851 | +€73,669 | +66.3% |
| Taxes | 450/3 | €2,378 | €684 | -€1,694 | -71.2% |
| Remuneration and social security | 454/9 | €108,804 | €184,167 | +€75,363 | +69.3% |
| Other amounts payable | 47/48 | - | €24,001 | +€24,001 | |
| Accrued charges and deferred income | 492/3 | €1,393 | €2,565 | +€1,172 | +84.1% |
| Remuneration, social security and pensions | 62 | €552,978 | €914,304 | +€361,326 | +65.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,716 | €7,347 | +€5,630 | +328% |
| Other operating charges | 640/8 | €3,000 | €6,373 | +€3,373 | +112% |
| Non-recurring operating charges | 66A | €656 | €864 | +€209 | +31.8% |
| Gross operating margin | 9900 | €552,207 | €878,745 | +€326,538 | +59.1% |
| Operating profit (loss) | 9901 | -€6,143 | -€50,143 | -€44,000 | -716% |
| Financial income | 75/76B | €762 | €3,025 | +€2,263 | +297% |
| Recurring financial income | 75 | €762 | €3,025 | +€2,263 | +297% |
| Financial charges | 65/66B | €5,222 | €1,884 | -€3,339 | -63.9% |
| Recurring financial charges | 65 | €5,222 | €1,884 | -€3,339 | -63.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,604 | -€49,002 | -€38,398 | -362% |
| Income taxes | 67/77 | €128 | €165 | +€37 | +28.9% |
| Profit (loss) for the period | 9904 | -€10,732 | -€49,167 | -€38,435 | -358% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,732 | -€49,167 | -€38,435 | -358% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.