GMG OFFICE: 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.
GMG OFFICE
Largest movements
- Tangible fixed assets -€42,858
down €42,858 (-16.0%), from €267,815 to €224,957
of which Furniture and vehicles: -€26,308
- Cash +€16,862
up €16,862 (+185%), from €9,128 to €25,990
mainly Depreciation (+€45,626) and Net result for the year (+€39,427)
- Deferred charges and accrued income -€7,078
down €7,078 (-23.7%), from €29,808 to €22,730
- Receivables within one year -€5,773
down €5,773 (-5.0%), from €114,837 to €109,063
of which Other amounts receivable: -€21,965
- Debts after one year -€21,333
down €21,333 (-9.3%), from €230,223 to €208,890
- Reserves -€18,710
down €18,710 (-33.1%), from €56,471 to €37,761
- Current portion of long-term debt -€17,314
down €17,314 (-43.3%), from €40,027 to €22,713
- Other debts +€12,391
up €12,391 (+27.1%), from €45,745 to €58,137
- Trade debts +€11,059
up €11,059 (+114%), from €9,740 to €20,799
- Gross operating margin +€66,031
up €66,031 (+30.8%), from €214,329 to €280,359
- Staff costs +€30,679
up €30,679 (+26.9%), from €114,251 to €144,929
- Other operating charges +€14,467
up €14,467 (+238%), from €6,070 to €20,537
- Taxes +€8,299
up €8,299 (+46.7%), from €17,786 to €26,084
- Depreciation +€7,388
up €7,388 (+19.3%), from €38,238 to €45,626
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 | €421,588 | €384,783 | -€36,804 | -8.7% |
| Fixed assets | 21/28 | €267,815 | €226,999 | -€40,816 | -15.2% |
| Tangible fixed assets | 22/27 | €267,815 | €224,957 | -€42,858 | -16.0% |
| Land and buildings | 22 | €215,266 | €198,715 | -€16,550 | -7.7% |
| Furniture and vehicles | 24 | €52,549 | €26,241 | -€26,308 | -50.1% |
| Financial fixed assets | 28 | - | €2,043 | +€2,043 | |
| Current assets | 29/58 | €153,773 | €157,784 | +€4,011 | +2.6% |
| Amounts receivable within one year | 40/41 | €114,837 | €109,063 | -€5,773 | -5.0% |
| Trade receivables | 40 | €61,997 | €78,189 | +€16,192 | +26.1% |
| Other amounts receivable | 41 | €52,839 | €30,874 | -€21,965 | -41.6% |
| Cash at bank and in hand | 54/58 | €9,128 | €25,990 | +€16,862 | +185% |
| Deferred charges and accrued income | 490/1 | €29,808 | €22,730 | -€7,078 | -23.7% |
| Total equity and liabilities | 10/49 | €421,588 | €384,783 | -€36,804 | -8.7% |
| Equity | 10/15 | €56,471 | €37,761 | -€18,710 | -33.1% |
| Reserves | 13 | €56,471 | €37,761 | -€18,710 | -33.1% |
| Distributable reserves | 133 | €56,471 | €37,761 | -€18,710 | -33.1% |
| Amounts payable | 17/49 | €365,117 | €347,023 | -€18,095 | -5.0% |
| Amounts payable after more than one year | 17 | €230,223 | €208,890 | -€21,333 | -9.3% |
| Financial debts | 170/4 | €230,223 | €208,890 | -€21,333 | -9.3% |
| Amounts payable within one year | 42/48 | €131,788 | €138,133 | +€6,344 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €40,027 | €22,713 | -€17,314 | -43.3% |
| Financial debts | 43 | €1,037 | - | -€1,037 | |
| Credit institutions | 430/8 | €1,037 | - | -€1,037 | |
| Trade debts | 44 | €9,740 | €20,799 | +€11,059 | +114% |
| Suppliers | 440/4 | €9,740 | €20,799 | +€11,059 | +114% |
| Taxes, remuneration and social security | 45 | €35,240 | €36,484 | +€1,244 | +3.5% |
| Taxes | 450/3 | €18,723 | €16,559 | -€2,164 | -11.6% |
| Remuneration and social security | 454/9 | €16,517 | €19,925 | +€3,408 | +20.6% |
| Other amounts payable | 47/48 | €45,745 | €58,137 | +€12,391 | +27.1% |
| Accrued charges and deferred income | 492/3 | €3,106 | - | -€3,106 | |
| Remuneration, social security and pensions | 62 | €114,251 | €144,929 | +€30,679 | +26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,238 | €45,626 | +€7,388 | +19.3% |
| Other operating charges | 640/8 | €6,070 | €20,537 | +€14,467 | +238% |
| Gross operating margin | 9900 | €214,329 | €280,359 | +€66,031 | +30.8% |
| Operating profit (loss) | 9901 | €55,770 | €69,266 | +€13,497 | +24.2% |
| Financial income | 75/76B | €3,847 | €2,841 | -€1,006 | -26.1% |
| Recurring financial income | 75 | €3,847 | €2,841 | -€1,006 | -26.1% |
| Financial charges | 65/66B | €8,018 | €6,596 | -€1,422 | -17.7% |
| Recurring financial charges | 65 | €8,018 | €6,596 | -€1,422 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €51,598 | €65,511 | +€13,913 | +27.0% |
| Income taxes | 67/77 | €17,786 | €26,084 | +€8,299 | +46.7% |
| Profit (loss) for the period | 9904 | €33,812 | €39,427 | +€5,614 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,812 | €39,427 | +€5,614 | +16.6% |
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.