GMK: 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.
What changed
GMK
NACE 56.302, Nightclubs
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€72,144
2024 · -€5,737-€66,407
Equity
€921,616
2024 · €993,760-€72,144
Cash
€204,816
2024 · €192,292+€12,524
Balance sheet total
€1.2m
2024 · €1.3m-€106,801
Largest movements
Assets
- Current investments -€38,000
down €38,000 (-6.2%), from €613,000 to €575,000
- Tangible fixed assets -€35,058
down €35,058 (-15.7%), from €223,281 to €188,223
of which Leasing and similar rights: -€25,433
- Deferred charges and accrued income -€22,474
down €22,474 (-39.3%), from €57,177 to €34,703
- Stocks and contracts -€19,455
down €19,455 (-28.1%), from €69,297 to €49,842
Equity and liabilities
- Reserves -€72,144
down €72,144 (-7.7%), from €931,760 to €859,616
of which Distributable reserves: -€72,144
- Debts after one year -€17,969
down €17,969 (-39.5%), from €45,441 to €27,472
Income statement
- Gross operating margin -€95,161
down €95,161 (-15.6%), from €610,122 to €514,961
- Staff costs -€41,224
down €41,224 (-8.8%), from €468,927 to €427,703
- Financial income -€8,244
down €8,244 (-43.5%), from €18,952 to €10,708
- Depreciation +€7,627
up €7,627 (+11.4%), from €66,850 to €74,477
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.
Result 2024
-€5,737
Gross operating margin
-€95,161
Staff costs
+€41,224
Depreciation
-€7,627
Write-downs
+€138
Other operating charges
+€2,974
Other operating items
-€6,634
Financial income
-€8,244
Financial charges
+€5,785
Taxes
+€1,138
Result 2025
-€72,144
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.
From operations
+€30,722
Investment
-€1,037
Financing
-€17,161
Cash 2024
€192,292
From operations (derived)
+€30,722
Net result for the year
-€72,144
Depreciation
+€74,477
Stocks and contracts
+€19,455
Receivables within one year
+€3,956
Deferred charges and accrued income
+€22,474
Trade debts
-€7,585
Tax, wage and social debts
-€9,606
Advances received
+€430
Other debts
-€562
Accrued charges and deferred income
-€173
Investment (derived)
-€1,037
Investment in fixed assets (net)
-€39,037
Current investments
+€38,000
Financing
-€17,161
Debts after one year
-€17,969
Current portion of long-term debt
+€808
Cash 2025
€204,816
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,257,477 | €1,150,676 | -€106,801 | -8.5% |
| Fixed assets | 21/28 | €227,948 | €192,508 | -€35,440 | -15.5% |
| Intangible fixed assets | 21 | €1,832 | €1,450 | -€382 | -20.9% |
| Tangible fixed assets | 22/27 | €223,281 | €188,223 | -€35,058 | -15.7% |
| Plant, machinery and equipment | 23 | €92,073 | €92,510 | +€437 | +0.5% |
| Furniture and vehicles | 24 | €10,573 | €10,987 | +€414 | +3.9% |
| Leasing and similar rights | 25 | €83,754 | €58,321 | -€25,433 | -30.4% |
| Other tangible fixed assets | 26 | €36,881 | €26,405 | -€10,476 | -28.4% |
| Financial fixed assets | 28 | €2,835 | €2,835 | = | 0.0% |
| Current assets | 29/58 | €1,029,529 | €958,168 | -€71,361 | -6.9% |
| Stocks and contracts in progress | 3 | €69,297 | €49,842 | -€19,455 | -28.1% |
| Stocks | 30/36 | €69,297 | €49,842 | -€19,455 | -28.1% |
| Amounts receivable within one year | 40/41 | €97,763 | €93,807 | -€3,956 | -4.0% |
| Trade receivables | 40 | €5,889 | €2,194 | -€3,695 | -62.7% |
| Other amounts receivable | 41 | €91,874 | €91,613 | -€261 | -0.3% |
| Current investments | 50/53 | €613,000 | €575,000 | -€38,000 | -6.2% |
| Cash at bank and in hand | 54/58 | €192,292 | €204,816 | +€12,524 | +6.5% |
| Deferred charges and accrued income | 490/1 | €57,177 | €34,703 | -€22,474 | -39.3% |
| Total equity and liabilities | 10/49 | €1,257,477 | €1,150,676 | -€106,801 | -8.5% |
| Equity | 10/15 | €993,760 | €921,616 | -€72,144 | -7.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €931,760 | €859,616 | -€72,144 | -7.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €869,310 | €797,166 | -€72,144 | -8.3% |
| Amounts payable | 17/49 | €263,717 | €229,060 | -€34,657 | -13.1% |
| Amounts payable after more than one year | 17 | €45,441 | €27,472 | -€17,969 | -39.5% |
| Financial debts | 170/4 | €45,441 | €27,472 | -€17,969 | -39.5% |
| Amounts payable within one year | 42/48 | €214,267 | €197,752 | -€16,515 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €17,161 | €17,969 | +€808 | +4.7% |
| Trade debts | 44 | €120,105 | €112,520 | -€7,585 | -6.3% |
| Suppliers | 440/4 | €120,105 | €112,520 | -€7,585 | -6.3% |
| Advances received on contracts in progress | 46 | €175 | €605 | +€430 | +245.7% |
| Taxes, remuneration and social security | 45 | €70,192 | €60,586 | -€9,606 | -13.7% |
| Taxes | 450/3 | €16,017 | €15,902 | -€115 | -0.7% |
| Remuneration and social security | 454/9 | €54,175 | €44,684 | -€9,491 | -17.5% |
| Other amounts payable | 47/48 | €6,634 | €6,072 | -€562 | -8.5% |
| Accrued charges and deferred income | 492/3 | €4,009 | €3,836 | -€173 | -4.3% |
| Non-recurring operating income | 76A | €18,868 | €7,539 | -€11,329 | -60.0% |
| Remuneration, social security and pensions | 62 | €468,927 | €427,703 | -€41,224 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,850 | €74,477 | +€7,627 | +11.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €138 | - | -€138 | |
| Other operating charges | 640/8 | €64,624 | €61,650 | -€2,974 | -4.6% |
| Non-recurring operating charges | 66A | - | €6,634 | +€6,634 | |
| Gross operating margin | 9900 | €610,122 | €514,961 | -€95,161 | -15.6% |
| Operating profit (loss) | 9901 | €9,583 | -€55,503 | -€65,086 | |
| Financial income | 75/76B | €18,952 | €10,708 | -€8,244 | -43.5% |
| Recurring financial income | 75 | €18,952 | €10,708 | -€8,244 | -43.5% |
| Financial charges | 65/66B | €31,444 | €25,659 | -€5,785 | -18.4% |
| Recurring financial charges | 65 | €31,444 | €25,558 | -€5,886 | -18.7% |
| Non-recurring financial charges | 66B | - | €101 | +€101 | |
| Profit (loss) for the period before taxes | 9903 | -€2,909 | -€70,454 | -€67,545 | -2321.9% |
| Income taxes | 67/77 | €2,828 | €1,690 | -€1,138 | -40.2% |
| Profit (loss) for the period | 9904 | -€5,737 | -€72,144 | -€66,407 | -1157.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,737 | -€72,144 | -€66,407 | -1157.5% |
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 5 October 2026 via checked.be.