GMJ Projects: 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.
GMJ Projects
Largest movements
- Tangible fixed assets -€15,133
down €15,133 (-27.6%), from €54,817 to €39,684
of which Leasing and similar rights: -€10,033
- Receivables within one year +€6,409
up €6,409 (+97.7%), from €6,558 to €12,967
of which Trade receivables: +€6,697
- Cash -€2,982
down €2,982 (-16.9%), from €17,598 to €14,616
mainly Contributions, distributions and other (-€29,500) and Debts after one year (-€9,247)
- Debts after one year -€9,247
down €9,247 (-36.7%), from €25,227 to €15,979
- Trade debts -€2,551
down €2,551 (-69.1%), from €3,690 to €1,139
- Profit (loss) carried forward -€2,170
down €2,170 (-74.8%), from €2,899 to €729
- Other debts +€1,318
up €1,318 (+4.2%), from €31,049 to €32,367
- Gross operating margin +€51,289
up €51,289 (+2069.5%), from €2,478 to €53,768
- Taxes +€6,308
up €6,308 (+1207.8%), from €522 to €6,830
- Financial charges -€802
down €802 (-24.7%), from €3,248 to €2,446
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 | €78,974 | €67,267 | -€11,707 | -14.8% |
| Fixed assets | 21/28 | €54,817 | €39,684 | -€15,133 | -27.6% |
| Tangible fixed assets | 22/27 | €54,817 | €39,684 | -€15,133 | -27.6% |
| Land and buildings | 22 | €3,775 | €2,770 | -€1,005 | -26.6% |
| Plant, machinery and equipment | 23 | €14,512 | €10,417 | -€4,095 | -28.2% |
| Leasing and similar rights | 25 | €36,530 | €26,498 | -€10,033 | -27.5% |
| Current assets | 29/58 | €24,156 | €27,583 | +€3,426 | +14.2% |
| Amounts receivable within one year | 40/41 | €6,558 | €12,967 | +€6,409 | +97.7% |
| Trade receivables | 40 | €3,600 | €10,297 | +€6,697 | +186.0% |
| Other amounts receivable | 41 | €2,958 | €2,670 | -€288 | -9.7% |
| Cash at bank and in hand | 54/58 | €17,598 | €14,616 | -€2,982 | -16.9% |
| Total equity and liabilities | 10/49 | €78,974 | €67,267 | -€11,707 | -14.8% |
| Equity | 10/15 | €4,899 | €2,729 | -€2,170 | -44.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,899 | €729 | -€2,170 | -74.8% |
| Amounts payable | 17/49 | €74,075 | €64,538 | -€9,537 | -12.9% |
| Amounts payable after more than one year | 17 | €25,227 | €15,979 | -€9,247 | -36.7% |
| Financial debts | 170/4 | €25,227 | €15,979 | -€9,247 | -36.7% |
| Amounts payable within one year | 42/48 | €48,733 | €48,558 | -€175 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €8,644 | €9,247 | +€603 | +7.0% |
| Trade debts | 44 | €3,690 | €1,139 | -€2,551 | -69.1% |
| Suppliers | 440/4 | €3,690 | €1,139 | -€2,551 | -69.1% |
| Taxes, remuneration and social security | 45 | €5,351 | €5,805 | +€454 | +8.5% |
| Taxes | 450/3 | €3,373 | €5,805 | +€2,432 | +72.1% |
| Remuneration and social security | 454/9 | €1,978 | - | -€1,978 | |
| Other amounts payable | 47/48 | €31,049 | €32,367 | +€1,318 | +4.2% |
| Accrued charges and deferred income | 492/3 | €115 | - | -€115 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,133 | €15,133 | = | 0.0% |
| Other operating charges | 640/8 | €1,786 | €2,035 | +€249 | +13.9% |
| Gross operating margin | 9900 | €2,478 | €53,768 | +€51,289 | +2069.5% |
| Operating profit (loss) | 9901 | -€14,441 | €36,600 | +€51,041 | |
| Financial income | 75/76B | €1 | €7 | +€6 | +599.0% |
| Recurring financial income | 75 | €1 | €7 | +€6 | +599.0% |
| Financial charges | 65/66B | €3,248 | €2,446 | -€802 | -24.7% |
| Recurring financial charges | 65 | €3,248 | €2,446 | -€802 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,688 | €34,160 | +€51,848 | |
| Income taxes | 67/77 | €522 | €6,830 | +€6,308 | +1207.8% |
| Profit (loss) for the period | 9904 | -€18,210 | €27,330 | +€45,540 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,210 | €27,330 | +€45,540 |
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 1 October 2026 via checked.be.