GML ESTATE: 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.
What changed
GML ESTATE
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€20,234
2024 · €560,439-€580,673
Equity
€14.0m
2024 · €17.1m-€3.1m
Cash
€913,911
2024 · €724,247+€189,664
Balance sheet total
€45.0m
2024 · €42.3m+€2.7m
Largest movements
Assets
- Tangible fixed assets +€4.6m
up €4.6m (+39.0%), from €11.8m to €16.4m
of which Land and buildings: +€4.4m
- Financial fixed assets -€3.7m
down €3.7m (-15.9%), from €23.0m to €19.3m
- Stocks and contracts +€2.5m
up €2.5m (+144%), from €1.8m to €4.3m
- Receivables within one year -€655,718
down €655,718 (-19.6%), from €3.3m to €2.7m
of which Other amounts receivable: -€759,688
Equity and liabilities
- Short-term financial debts +€7.0m
up €7.0m (+179%), from €3.9m to €11.0m
- Revaluation surpluses -€3.1m
down €3.1m (-26.3%), from €11.8m to €8.7m
- Other debts -€1.5m
down €1.5m (-25.0%), from €5.9m to €4.4m
Income statement
- Financial income -€1.6m
down €1.6m (-93.9%), from €1.8m to €107,752
of which Financial income: -€1.5m
- Other operating charges -€1.2m
down €1.2m (-96.5%), from €1.2m to €43,396
- Gross operating margin +€448,571
up €448,571 (+65.6%), from €683,484 to €1.1m
- Depreciation +€260,933
up €260,933 (+63.8%), from €409,110 to €670,043
- Financial charges +€158,899
up €158,899 (+63.3%), from €250,930 to €409,830
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
€560,439
Gross operating margin
+€448,571
Depreciation
-€260,933
Provisions
-€100,000
Other operating charges
+€1.2m
Financial income
-€1.6m
Financial charges
-€158,899
Taxes
-€12,097
Deferred taxes and other
-€35,636
Result 2025
-€20,234
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
-€2.4m
Investment
-€1.3m
Financing
+€4.0m
Cash 2024
€724,247
From operations (derived)
-€2.4m
Net result for the year
-€20,234
Depreciation
+€670,043
Stocks and contracts
-€2.5m
Receivables within one year
+€655,718
Smaller working-capital items
+€11,505
Trade debts
+€224,866
Tax, wage and social debts
+€24,472
Other debts
-€1.5m
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Financing
+€4.0m
Debts after one year
+€37,700
Current portion of long-term debt
-€17,817
Short-term financial debts
+€7.0m
Contributions, distributions and other
-€3.1m
Cash 2025
€913,911
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,287,987 | €45,013,552 | +€2.7m | +6.4% |
| Fixed assets | 21/28 | €36,464,257 | €37,131,895 | +€667,638 | +1.8% |
| Intangible fixed assets | 21 | €1,736,477 | €1,458,641 | -€277,836 | -16.0% |
| Tangible fixed assets | 22/27 | €11,775,294 | €16,371,649 | +€4.6m | +39.0% |
| Land and buildings | 22 | €11,772,600 | €16,165,506 | +€4.4m | +37.3% |
| Plant, machinery and equipment | 23 | €2,694 | €2,685 | -€9 | -0.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | - | €203,458 | +€203,458 | |
| Financial fixed assets | 28 | €22,952,486 | €19,301,605 | -€3.7m | -15.9% |
| Current assets | 29/58 | €5,823,730 | €7,881,657 | +€2.1m | +35.3% |
| Stocks and contracts in progress | 3 | €1,750,321 | €4,275,812 | +€2.5m | +144% |
| Stocks | 30/36 | €1,750,321 | €4,275,812 | +€2.5m | +144% |
| Amounts receivable within one year | 40/41 | €3,347,652 | €2,691,934 | -€655,718 | -19.6% |
| Trade receivables | 40 | €17,230 | €121,200 | +€103,970 | +603% |
| Other amounts receivable | 41 | €3,330,423 | €2,570,734 | -€759,688 | -22.8% |
| Cash at bank and in hand | 54/58 | €724,247 | €913,911 | +€189,664 | +26.2% |
| Deferred charges and accrued income | 490/1 | €1,509 | €0 | -€1,509 | -100% |
| Total equity and liabilities | 10/49 | €42,287,987 | €45,013,552 | +€2.7m | +6.4% |
| Equity | 10/15 | €17,076,544 | €13,956,768 | -€3.1m | -18.3% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Revaluation surpluses | 12 | €11,799,447 | €8,699,905 | -€3.1m | -26.3% |
| Reserves | 13 | €3,217,491 | €3,247,477 | +€29,986 | +0.9% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,117,491 | €3,147,477 | +€29,986 | +1.0% |
| Profit (loss) carried forward | 14 | €1,059,606 | €1,009,386 | -€50,220 | -4.7% |
| Provisions and deferred taxes | 16 | €1,628,399 | €1,638,394 | +€9,995 | +0.6% |
| Provisions for liabilities and charges | 160/5 | €100,000 | €100,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €50,000 | €0 | -€50,000 | -100% |
| Environmental obligations | 163 | €50,000 | €100,000 | +€50,000 | +100% |
| Deferred taxes | 168 | €1,528,399 | €1,538,394 | +€9,995 | +0.7% |
| Amounts payable | 17/49 | €23,583,044 | €29,418,390 | +€5.8m | +24.7% |
| Amounts payable after more than one year | 17 | €13,627,872 | €13,665,572 | +€37,700 | +0.3% |
| Financial debts | 170/4 | €182,800 | €220,500 | +€37,700 | +20.6% |
| Other amounts payable | 178/9 | €13,445,072 | €13,445,072 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,955,172 | €15,752,818 | +€5.8m | +58.2% |
| Current portion of amounts payable after more than one year | 42 | €60,331 | €42,514 | -€17,817 | -29.5% |
| Financial debts | 43 | €3,934,143 | €10,967,603 | +€7.0m | +179% |
| Credit institutions | 430/8 | €3,934,143 | €10,967,603 | +€7.0m | +179% |
| Trade debts | 44 | €70,427 | €295,294 | +€224,866 | +319% |
| Suppliers | 440/4 | €70,427 | €295,294 | +€224,866 | +319% |
| Taxes, remuneration and social security | 45 | €29,774 | €54,246 | +€24,472 | +82.2% |
| Taxes | 450/3 | €29,774 | €54,246 | +€24,472 | +82.2% |
| Other amounts payable | 47/48 | €5,860,498 | €4,393,161 | -€1.5m | -25.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €128,601 | €100,000 | -€28,601 | -22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €409,110 | €670,043 | +€260,933 | +63.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | €100,000 | +€100,000 | |
| Other operating charges | 640/8 | €1,228,224 | €43,396 | -€1.2m | -96.5% |
| Gross operating margin | 9900 | €683,484 | €1,132,056 | +€448,571 | +65.6% |
| Operating profit (loss) | 9901 | -€953,850 | €318,617 | +€1.3m | |
| Financial income | 75/76B | €1,754,261 | €107,752 | -€1.6m | -93.9% |
| Recurring financial income | 75 | €1,589,986 | €107,517 | -€1.5m | -93.2% |
| Non-recurring financial income | 76B | €164,274 | €236 | -€164,039 | -99.9% |
| Financial charges | 65/66B | €250,930 | €409,830 | +€158,899 | +63.3% |
| Recurring financial charges | 65 | €250,930 | €409,830 | +€158,899 | +63.3% |
| Profit (loss) for the period before taxes | 9903 | €549,480 | €16,540 | -€532,940 | -97.0% |
| Transfer from deferred taxes | 780 | €25,641 | €17,617 | -€8,024 | -31.3% |
| Transfer to deferred taxes | 680 | - | €27,612 | +€27,612 | |
| Income taxes | 67/77 | €14,682 | €26,779 | +€12,097 | +82.4% |
| Profit (loss) for the period | 9904 | €560,439 | -€20,234 | -€580,673 | |
| Transfer from tax-exempt reserves | 789 | €100,049 | €52,850 | -€47,200 | -47.2% |
| Transfer to tax-exempt reserves | 689 | - | €82,836 | +€82,836 | |
| Profit (loss) for the period to be appropriated | 9905 | €660,488 | -€50,220 | -€710,709 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.