GMG SERVICE: what changed
GMG SERVICE
Largest movements
- Tangible fixed assets -€9,750
down €9,750 (-17.6%), from €55,430 to €45,680
of which Furniture and vehicles: -€12,677
- Cash +€8,951
up €8,951 (+17.6%), from €50,896 to €59,847
mainly Net result for the year (+€51,020) and Depreciation (+€22,384)
- Deferred charges and accrued income +€6,131
up €6,131 (+133%), from €4,607 to €10,738
- Receivables within one year +€4,533
up €4,533 (+4.2%), from €108,963 to €113,496
of which Trade receivables: +€3,863
- Reserves +€24,704
up €24,704 (+14.8%), from €166,753 to €191,457
of which Distributable reserves: +€24,704
- Debts after one year -€11,695
down €11,695 (-88.8%), from €13,163 to €1,468
- Tax, wage and social debts +€10,027
up €10,027 (+58.1%), from €17,253 to €27,280
of which Taxes: +€6,361
- Trade debts -€9,535
down €9,535 (-55.7%), from €17,130 to €7,595
- Current portion of long-term debt -€3,618
down €3,618 (-23.6%), from €15,312 to €11,694
- Gross operating margin +€17,751
up €17,751 (+9.3%), from €190,993 to €208,744
- Taxes +€4,415
up €4,415 (+25.8%), from €17,121 to €21,536
- Other operating charges -€2,379
down €2,379 (-60.0%), from €3,963 to €1,584
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 | €253,286 | €263,151 | +€9,865 | +3.9% |
| Fixed assets | 21/28 | €58,820 | €49,070 | -€9,750 | -16.6% |
| Tangible fixed assets | 22/27 | €55,430 | €45,680 | -€9,750 | -17.6% |
| Land and buildings | 22 | - | €7,009 | +€7,009 | |
| Plant, machinery and equipment | 23 | €28,719 | €24,637 | -€4,082 | -14.2% |
| Furniture and vehicles | 24 | €26,711 | €14,034 | -€12,677 | -47.5% |
| Financial fixed assets | 28 | €3,390 | €3,390 | = | 0.0% |
| Current assets | 29/58 | €194,466 | €214,081 | +€19,615 | +10.1% |
| Amounts receivable within one year | 40/41 | €108,963 | €113,496 | +€4,533 | +4.2% |
| Trade receivables | 40 | €105,702 | €109,565 | +€3,863 | +3.7% |
| Other amounts receivable | 41 | €3,261 | €3,931 | +€670 | +20.5% |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €50,896 | €59,847 | +€8,951 | +17.6% |
| Deferred charges and accrued income | 490/1 | €4,607 | €10,738 | +€6,131 | +133% |
| Total equity and liabilities | 10/49 | €253,286 | €263,151 | +€9,865 | +3.9% |
| Equity | 10/15 | €185,353 | €210,057 | +€24,704 | +13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €166,753 | €191,457 | +€24,704 | +14.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €164,893 | €189,597 | +€24,704 | +15.0% |
| Amounts payable | 17/49 | €67,933 | €53,094 | -€14,839 | -21.8% |
| Amounts payable after more than one year | 17 | €13,163 | €1,468 | -€11,695 | -88.8% |
| Financial debts | 170/4 | €13,163 | €1,468 | -€11,695 | -88.8% |
| Amounts payable within one year | 42/48 | €54,770 | €51,626 | -€3,144 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €15,312 | €11,694 | -€3,618 | -23.6% |
| Financial debts | 43 | €5,075 | €5,057 | -€18 | -0.4% |
| Credit institutions | 430/8 | €5,075 | €5,057 | -€18 | -0.4% |
| Trade debts | 44 | €17,130 | €7,595 | -€9,535 | -55.7% |
| Suppliers | 440/4 | €17,130 | €7,595 | -€9,535 | -55.7% |
| Taxes, remuneration and social security | 45 | €17,253 | €27,280 | +€10,027 | +58.1% |
| Taxes | 450/3 | €7,801 | €14,162 | +€6,361 | +81.5% |
| Remuneration and social security | 454/9 | €9,452 | €13,118 | +€3,666 | +38.8% |
| Non-recurring operating income | 76A | €11,765 | - | -€11,765 | |
| Remuneration, social security and pensions | 62 | €110,409 | €110,165 | -€244 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,468 | €22,384 | +€1,916 | +9.4% |
| Other operating charges | 640/8 | €3,963 | €1,584 | -€2,379 | -60.0% |
| Gross operating margin | 9900 | €190,993 | €208,744 | +€17,751 | +9.3% |
| Operating profit (loss) | 9901 | €56,153 | €74,611 | +€18,458 | +32.9% |
| Financial charges | 65/66B | €2,255 | €2,055 | -€200 | -8.9% |
| Recurring financial charges | 65 | €2,255 | €2,055 | -€200 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €53,898 | €72,556 | +€18,658 | +34.6% |
| Income taxes | 67/77 | €17,121 | €21,536 | +€4,415 | +25.8% |
| Profit (loss) for the period | 9904 | €36,777 | €51,020 | +€14,243 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,777 | €51,020 | +€14,243 | +38.7% |
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 3 November 2026 via checked.be.