GMKARWEIWERKEN: what changed
Two financial 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.
GMKARWEIWERKEN
Largest movements
- Stocks and contracts -€12,840
down €12,840 (-81.2%), from €15,805 to €2,965
of which Contracts in progress: -€6,840
- Receivables within one year -€9,992
down €9,992 (-57.8%), from €17,277 to €7,285
of which Trade receivables: -€6,999
- Tangible fixed assets -€636
down €636 (-15.3%), from €4,152 to €3,516
of which Plant, machinery and equipment: -€401
- Profit (loss) carried forward -€23,237
down €23,237 (-262%), from -€8,882 to -€32,119
- Tax, wage and social debts -€2,996
no longer reported in 2025 (was €2,996)
- Short-term financial debts +€2,083
up €2,083 (+38.8%), from €5,375 to €7,458
- Trade debts +€681
up €681 (+430%), from €158 to €839
- Gross operating margin -€19,103
down €19,103 (-750%), from -€2,547 to -€21,650
- Depreciation -€5,306
down €5,306 (-89.3%), from €5,943 to €637
- Staff costs -€870
no longer reported in 2025 (was €870)
- Financial charges +€469
up €469 (+809%), from €58 to €527
- Other operating charges -€324
down €324 (-62.6%), from €517 to €193
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.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,235 | €13,766 | -€23,469 | -63.0% |
| Fixed assets | 21/28 | €4,152 | €3,516 | -€636 | -15.3% |
| Tangible fixed assets | 22/27 | €4,152 | €3,516 | -€636 | -15.3% |
| Plant, machinery and equipment | 23 | €2,900 | €2,499 | -€401 | -13.8% |
| Furniture and vehicles | 24 | €1,252 | €1,017 | -€235 | -18.8% |
| Current assets | 29/58 | €33,082 | €10,250 | -€22,832 | -69.0% |
| Stocks and contracts in progress | 3 | €15,805 | €2,965 | -€12,840 | -81.2% |
| Stocks | 30/36 | €8,965 | €2,965 | -€6,000 | -66.9% |
| Contracts in progress | 37 | €6,840 | - | -€6,840 | |
| Amounts receivable within one year | 40/41 | €17,277 | €7,285 | -€9,992 | -57.8% |
| Trade receivables | 40 | €13,457 | €6,458 | -€6,999 | -52.0% |
| Other amounts receivable | 41 | €3,820 | €827 | -€2,993 | -78.4% |
| Total equity and liabilities | 10/49 | €37,235 | €13,766 | -€23,469 | -63.0% |
| Equity | 10/15 | €28,706 | €5,469 | -€23,237 | -80.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,988 | €18,988 | -€0 | 0.0% |
| 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 | €17,128 | €17,128 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€8,882 | -€32,119 | -€23,237 | -262% |
| Amounts payable | 17/49 | €8,529 | €8,297 | -€232 | -2.7% |
| Amounts payable within one year | 42/48 | €8,529 | €8,297 | -€232 | -2.7% |
| Financial debts | 43 | €5,375 | €7,458 | +€2,083 | +38.8% |
| Credit institutions | 430/8 | €5,375 | €7,458 | +€2,083 | +38.8% |
| Trade debts | 44 | €158 | €839 | +€681 | +430% |
| Suppliers | 440/4 | €158 | €839 | +€681 | +430% |
| Taxes, remuneration and social security | 45 | €2,996 | - | -€2,996 | |
| Taxes | 450/3 | €2,996 | - | -€2,996 | |
| Remuneration, social security and pensions | 62 | €870 | - | -€870 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,943 | €637 | -€5,306 | -89.3% |
| Other operating charges | 640/8 | €517 | €193 | -€324 | -62.6% |
| Gross operating margin | 9900 | -€2,547 | -€21,650 | -€19,103 | -750% |
| Operating profit (loss) | 9901 | -€9,875 | -€22,480 | -€12,605 | -128% |
| Financial income | 75/76B | €73 | - | -€73 | |
| Recurring financial income | 75 | €73 | - | -€73 | |
| Financial charges | 65/66B | €58 | €527 | +€469 | +809% |
| Recurring financial charges | 65 | €58 | €527 | +€469 | +809% |
| Profit (loss) for the period before taxes | 9903 | -€9,860 | -€23,007 | -€13,147 | -133% |
| Income taxes | 67/77 | - | €230 | +€230 | |
| Profit (loss) for the period | 9904 | -€9,860 | -€23,237 | -€13,377 | -136% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,860 | -€23,237 | -€13,377 | -136% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.