GMI: what changed
Two fiscal 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.
GMI
Largest movements
- Receivables within one year -€27,620
down €27,620 (-56.0%), from €49,337 to €21,717
- Tangible fixed assets -€11,226
down €11,226 (-4.8%), from €233,528 to €222,303
of which Land and buildings: -€11,226
- Debts after one year -€272,537
down €272,537 (-98.9%), from €275,630 to €3,093
of which Other amounts payable: -€265,336
- Reserves +€183,350
up €183,350 (+1441.8%), from €12,717 to €196,067
of which Distributable reserves: +€169,724
- Profit (loss) carried forward +€45,005
no longer reported in 2025 (was -€45,005)
- Contributions +€20,000
up €20,000 (+100.0%), from €20,000 to €40,000
- Other debts -€14,761
no longer reported in 2025 (was €14,761)
- Gross operating margin -€2,219
down €2,219 (-26.6%), from €8,354 to €6,135
- Financial income +€423
up €423 (+23.9%), from €1,771 to €2,194
- Financial charges -€247
down €247 (-23.2%), from €1,062 to €815
- Other operating charges +€230
up €230 (+12.1%), from €1,903 to €2,133
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.
Cash bridge derived
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 | €284,997 | €246,876 | -€38,121 | -13.4% |
| Fixed assets | 21/28 | €233,528 | €222,303 | -€11,226 | -4.8% |
| Tangible fixed assets | 22/27 | €233,528 | €222,303 | -€11,226 | -4.8% |
| Land and buildings | 22 | €233,528 | €222,303 | -€11,226 | -4.8% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Current assets | 29/58 | €51,469 | €24,573 | -€26,895 | -52.3% |
| Amounts receivable within one year | 40/41 | €49,337 | €21,717 | -€27,620 | -56.0% |
| Other amounts receivable | 41 | €49,337 | €21,717 | -€27,620 | -56.0% |
| Cash at bank and in hand | 54/58 | €360 | €663 | +€303 | +84.0% |
| Deferred charges and accrued income | 490/1 | €1,771 | €2,194 | +€423 | +23.9% |
| Total equity and liabilities | 10/49 | €284,997 | €246,876 | -€38,121 | -13.4% |
| Equity | 10/15 | -€12,288 | €236,067 | +€248,355 | |
| Contributions | 10/11 | €20,000 | €40,000 | +€20,000 | +100.0% |
| Reserves | 13 | €12,717 | €196,067 | +€183,350 | +1441.8% |
| Non-distributable reserves | 130/1 | €2,000 | €4,000 | +€2,000 | +100.0% |
| Reserves not available under the articles | 1311 | €2,000 | €4,000 | +€2,000 | +100.0% |
| Tax-exempt reserves | 132 | - | €11,626 | +€11,626 | |
| Distributable reserves | 133 | €10,717 | €180,441 | +€169,724 | +1583.8% |
| Profit (loss) carried forward | 14 | -€45,005 | - | +€45,005 | |
| Amounts payable | 17/49 | €297,285 | €10,809 | -€286,476 | -96.4% |
| Amounts payable after more than one year | 17 | €275,630 | €3,093 | -€272,537 | -98.9% |
| Financial debts | 170/4 | €10,294 | €3,093 | -€7,201 | -70.0% |
| Other amounts payable | 178/9 | €265,336 | - | -€265,336 | |
| Amounts payable within one year | 42/48 | €21,655 | €7,316 | -€14,339 | -66.2% |
| Current portion of amounts payable after more than one year | 42 | €6,894 | €7,201 | +€307 | +4.5% |
| Taxes, remuneration and social security | 45 | - | €115 | +€115 | |
| Taxes | 450/3 | - | €115 | +€115 | |
| Other amounts payable | 47/48 | €14,761 | - | -€14,761 | |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,226 | €11,226 | = | 0.0% |
| Other operating charges | 640/8 | €1,903 | €2,133 | +€230 | +12.1% |
| Gross operating margin | 9900 | €8,354 | €6,135 | -€2,219 | -26.6% |
| Operating profit (loss) | 9901 | -€4,775 | -€7,224 | -€2,449 | -51.3% |
| Financial income | 75/76B | €1,771 | €2,194 | +€423 | +23.9% |
| Recurring financial income | 75 | €1,771 | €2,194 | +€423 | +23.9% |
| Financial charges | 65/66B | €1,062 | €815 | -€247 | -23.2% |
| Recurring financial charges | 65 | €1,062 | €815 | -€247 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,065 | -€5,845 | -€1,780 | -43.8% |
| Income taxes | 67/77 | - | €40 | +€40 | |
| Profit (loss) for the period | 9904 | -€4,065 | -€5,885 | -€1,820 | -44.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,065 | -€5,885 | -€1,820 | -44.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.