GMMA: 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.
GMMA
Largest movements
- Deferred charges and accrued income -€191,409
down €191,409 (-79.0%), from €242,178 to €50,769
- Tangible fixed assets -€96,203
down €96,203 (-15.7%), from €614,350 to €518,147
of which Furniture and vehicles: -€74,064
- Receivables within one year -€22,714
down €22,714 (-12.7%), from €178,832 to €156,118
- Profit (loss) carried forward -€3.8m
down €3.8m (-38.0%), from -€10.0m to -€13.8m
- Other debts +€3.6m
up €3.6m (+35.3%), from €10.3m to €13.9m
- Trade debts -€286,828
down €286,828 (-95.5%), from €300,266 to €13,438
- Tax, wage and social debts +€156,749
up €156,749 (+1162.7%), from €13,481 to €170,230
- Gross operating margin +€2.5m
up €2.5m (+48.7%), from -€5.2m to -€2.6m
- Financial charges +€751,376
up €751,376 (+245.9%), from €305,513 to €1.1m
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 | €2,152,250 | €1,848,439 | -€303,811 | -14.1% |
| Fixed assets | 21/28 | €1,725,407 | €1,624,570 | -€100,837 | -5.8% |
| Intangible fixed assets | 21 | €1,111,057 | €1,106,423 | -€4,634 | -0.4% |
| Tangible fixed assets | 22/27 | €614,350 | €518,147 | -€96,203 | -15.7% |
| Plant, machinery and equipment | 23 | €46,585 | €24,446 | -€22,139 | -47.5% |
| Furniture and vehicles | 24 | €567,765 | €493,701 | -€74,064 | -13.0% |
| Current assets | 29/58 | €426,843 | €223,869 | -€202,974 | -47.6% |
| Amounts receivable within one year | 40/41 | €178,832 | €156,118 | -€22,714 | -12.7% |
| Trade receivables | 40 | €178,832 | €156,118 | -€22,714 | -12.7% |
| Cash at bank and in hand | 54/58 | €5,833 | €16,982 | +€11,149 | +191.1% |
| Deferred charges and accrued income | 490/1 | €242,178 | €50,769 | -€191,409 | -79.0% |
| Total equity and liabilities | 10/49 | €2,152,250 | €1,848,439 | -€303,811 | -14.1% |
| Equity | 10/15 | -€8,438,105 | -€12,242,295 | -€3.8m | -45.1% |
| Contributions | 10/11 | €1,572,075 | €1,572,075 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,010,180 | -€13,814,370 | -€3.8m | -38.0% |
| Amounts payable | 17/49 | €10,590,355 | €14,090,734 | +€3.5m | +33.1% |
| Amounts payable within one year | 42/48 | €10,590,355 | €14,085,775 | +€3.5m | +33.0% |
| Trade debts | 44 | €300,266 | €13,438 | -€286,828 | -95.5% |
| Suppliers | 440/4 | €300,266 | €13,438 | -€286,828 | -95.5% |
| Taxes, remuneration and social security | 45 | €13,481 | €170,230 | +€156,749 | +1162.7% |
| Taxes | 450/3 | €13,481 | €170,230 | +€156,749 | +1162.7% |
| Other amounts payable | 47/48 | €10,276,608 | €13,902,107 | +€3.6m | +35.3% |
| Accrued charges and deferred income | 492/3 | - | €4,959 | +€4,959 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,279 | €58,733 | -€33,546 | -36.4% |
| Other operating charges | 640/8 | €23,438 | €3,943 | -€19,495 | -83.2% |
| Non-recurring operating charges | 66A | €82,800 | €38,703 | -€44,097 | -53.3% |
| Gross operating margin | 9900 | -€5,154,289 | -€2,644,037 | +€2.5m | +48.7% |
| Operating profit (loss) | 9901 | -€5,352,806 | -€2,745,416 | +€2.6m | +48.7% |
| Financial income | 75/76B | €1 | €755 | +€754 | +75400.0% |
| Recurring financial income | 75 | €1 | €755 | +€754 | +75400.0% |
| Financial charges | 65/66B | €305,513 | €1,056,889 | +€751,376 | +245.9% |
| Recurring financial charges | 65 | €305,513 | €1,056,889 | +€751,376 | +245.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,658,318 | -€3,801,550 | +€1.9m | +32.8% |
| Income taxes | 67/77 | €5,066 | €2,640 | -€2,426 | -47.9% |
| Profit (loss) for the period | 9904 | -€5,663,384 | -€3,804,190 | +€1.9m | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,663,384 | -€3,804,190 | +€1.9m | +32.8% |
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 11 October 2026 via checked.be.