GMID: 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.
GMID
Largest movements
- Current investments +€44,614
up €44,614 (+27.9%), from €160,148 to €204,762
- Receivables within one year -€8,572
down €8,572 (-9.9%), from €86,938 to €78,365
of which Trade receivables: -€16,553
- Deferred charges and accrued income -€6,584
down €6,584 (-70.0%), from €9,404 to €2,820
- Tangible fixed assets -€5,950
down €5,950 (-18.1%), from €32,921 to €26,972
of which Other tangible fixed assets: -€3,270
- Cash +€5,745
new in 2025: €5,745
mainly Net result for the year (+€16,799) and Trade debts (+€14,332)
- Reserves +€16,700
up €16,700 (+6.7%), from €249,255 to €265,955
- Trade debts +€14,332
up €14,332 (+974.6%), from €1,471 to €15,803
- Gross operating margin -€59,521
down €59,521 (-53.5%), from €111,229 to €51,707
- Write-downs -€4,574
down €4,574, from €2,287 to -€2,287
- Taxes -€2,318
down €2,318 (-6.3%), from €36,537 to €34,218
- Other operating charges +€1,769
up €1,769 (+243.1%), from €728 to €2,496
- Depreciation +€1,517
up €1,517 (+34.2%), from €4,433 to €5,950
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 | €359,471 | €388,725 | +€29,253 | +8.1% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €32,982 | €27,032 | -€5,950 | -18.0% |
| Tangible fixed assets | 22/27 | €32,921 | €26,972 | -€5,950 | -18.1% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €5,713 | €3,034 | -€2,680 | -46.9% |
| Other tangible fixed assets | 26 | €27,208 | €23,938 | -€3,270 | -12.0% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €326,490 | €361,693 | +€35,203 | +10.8% |
| Amounts receivable after more than one year | 29 | €70,000 | €70,000 | = | 0.0% |
| Other amounts receivable | 291 | €70,000 | €70,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €86,938 | €78,365 | -€8,572 | -9.9% |
| Trade receivables | 40 | €30,511 | €13,959 | -€16,553 | -54.3% |
| Other amounts receivable | 41 | €56,426 | €64,407 | +€7,980 | +14.1% |
| Current investments | 50/53 | €160,148 | €204,762 | +€44,614 | +27.9% |
| Cash at bank and in hand | 54/58 | - | €5,745 | +€5,745 | |
| Deferred charges and accrued income | 490/1 | €9,404 | €2,820 | -€6,584 | -70.0% |
| Total equity and liabilities | 10/49 | €359,471 | €388,725 | +€29,253 | +8.1% |
| Equity | 10/15 | €321,803 | €338,601 | +€16,799 | +5.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €249,255 | €265,955 | +€16,700 | +6.7% |
| Distributable reserves | 133 | €249,255 | €265,955 | +€16,700 | +6.7% |
| Profit (loss) carried forward | 14 | €66,348 | €66,446 | +€99 | +0.1% |
| Amounts payable | 17/49 | €37,669 | €50,123 | +€12,455 | +33.1% |
| Amounts payable within one year | 42/48 | €37,257 | €50,039 | +€12,782 | +34.3% |
| Financial debts | 43 | €5,106 | €6,306 | +€1,200 | +23.5% |
| Credit institutions | 430/8 | €5,106 | €6,306 | +€1,200 | +23.5% |
| Trade debts | 44 | €1,471 | €15,803 | +€14,332 | +974.6% |
| Suppliers | 440/4 | €1,471 | €15,803 | +€14,332 | +974.6% |
| Taxes, remuneration and social security | 45 | €30,681 | €27,930 | -€2,750 | -9.0% |
| Taxes | 450/3 | €30,681 | €27,930 | -€2,750 | -9.0% |
| Accrued charges and deferred income | 492/3 | €411 | €84 | -€327 | -79.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,433 | €5,950 | +€1,517 | +34.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,287 | -€2,287 | -€4,574 | |
| Other operating charges | 640/8 | €728 | €2,496 | +€1,769 | +243.1% |
| Gross operating margin | 9900 | €111,229 | €51,707 | -€59,521 | -53.5% |
| Operating profit (loss) | 9901 | €103,782 | €45,548 | -€58,233 | -56.1% |
| Financial income | 75/76B | €5,277 | €6,024 | +€747 | +14.1% |
| Recurring financial income | 75 | €5,277 | €6,024 | +€747 | +14.1% |
| Financial charges | 65/66B | €1,246 | €556 | -€691 | -55.4% |
| Recurring financial charges | 65 | €1,246 | €556 | -€691 | -55.4% |
| Profit (loss) for the period before taxes | 9903 | €107,813 | €51,017 | -€56,796 | -52.7% |
| Income taxes | 67/77 | €36,537 | €34,218 | -€2,318 | -6.3% |
| Profit (loss) for the period | 9904 | €71,276 | €16,799 | -€54,478 | -76.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,276 | €16,799 | -€54,478 | -76.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.