GMO: 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.
GMO
Largest movements
- Receivables within one year +€62,143
up €62,143 (+2,437%), from €2,550 to €64,694
of which Other amounts receivable: +€46,574
- Cash +€28,350
up €28,350 (+30.0%), from €94,635 to €122,985
mainly Net result for the year (+€91,245) and Depreciation (+€8,000)
- Tangible fixed assets -€6,260
down €6,260 (-19.6%), from €31,870 to €25,610
of which Furniture and vehicles: -€7,784
- Profit (loss) carried forward +€90,412
up €90,412 (+152%), from €59,446 to €149,858
- Debts after one year -€8,440
down €8,440 (-33.7%), from €25,028 to €16,588
- Tax, wage and social debts +€7,014
up €7,014 (+24.4%), from €28,687 to €35,702
of which Taxes: +€8,514
- Other debts -€3,570
down €3,570 (-81.1%), from €4,403 to €833
- Trade debts -€2,790
down €2,790 (-97.6%), from €2,860 to €70
- Gross operating margin +€38,594
up €38,594 (+45.3%), from €85,129 to €123,724
- Taxes +€9,447
up €9,447 (+58.6%), from €16,132 to €25,580
- Financial income +€2,213
new in 2025: €2,213
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
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 | €129,252 | €213,643 | +€84,391 | +65.3% |
| Fixed assets | 21/28 | €31,870 | €25,610 | -€6,260 | -19.6% |
| Tangible fixed assets | 22/27 | €31,870 | €25,610 | -€6,260 | -19.6% |
| Furniture and vehicles | 24 | €31,870 | €24,086 | -€7,784 | -24.4% |
| Other tangible fixed assets | 26 | - | €1,524 | +€1,524 | |
| Current assets | 29/58 | €97,382 | €188,033 | +€90,651 | +93.1% |
| Amounts receivable within one year | 40/41 | €2,550 | €64,694 | +€62,143 | +2,437% |
| Trade receivables | 40 | €2,550 | €18,119 | +€15,569 | +610% |
| Other amounts receivable | 41 | - | €46,574 | +€46,574 | |
| Cash at bank and in hand | 54/58 | €94,635 | €122,985 | +€28,350 | +30.0% |
| Deferred charges and accrued income | 490/1 | €197 | €354 | +€158 | +80.1% |
| Total equity and liabilities | 10/49 | €129,252 | €213,643 | +€84,391 | +65.3% |
| Equity | 10/15 | €62,446 | €152,858 | +€90,412 | +145% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,446 | €149,858 | +€90,412 | +152% |
| Amounts payable | 17/49 | €66,805 | €60,785 | -€6,021 | -9.0% |
| Amounts payable after more than one year | 17 | €25,028 | €16,588 | -€8,440 | -33.7% |
| Financial debts | 170/4 | €25,028 | €16,588 | -€8,440 | -33.7% |
| Amounts payable within one year | 42/48 | €41,777 | €44,197 | +€2,419 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €5,827 | €7,254 | +€1,427 | +24.5% |
| Financial debts | 43 | - | €338 | +€338 | |
| Credit institutions | 430/8 | - | €338 | +€338 | |
| Trade debts | 44 | €2,860 | €70 | -€2,790 | -97.6% |
| Suppliers | 440/4 | €2,860 | €70 | -€2,790 | -97.6% |
| Taxes, remuneration and social security | 45 | €28,687 | €35,702 | +€7,014 | +24.4% |
| Taxes | 450/3 | €27,187 | €35,702 | +€8,514 | +31.3% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €4,403 | €833 | -€3,570 | -81.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,051 | €8,000 | +€948 | +13.5% |
| Other operating charges | 640/8 | €163 | €113 | -€50 | -30.9% |
| Gross operating margin | 9900 | €85,129 | €123,724 | +€38,594 | +45.3% |
| Operating profit (loss) | 9901 | €77,915 | €115,611 | +€37,696 | +48.4% |
| Financial income | 75/76B | - | €2,213 | +€2,213 | |
| Recurring financial income | 75 | - | €2,213 | +€2,213 | |
| Financial charges | 65/66B | €1,478 | €1,000 | -€478 | -32.4% |
| Recurring financial charges | 65 | €1,478 | €1,000 | -€478 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | €76,437 | €116,824 | +€40,387 | +52.8% |
| Income taxes | 67/77 | €16,132 | €25,580 | +€9,447 | +58.6% |
| Profit (loss) for the period | 9904 | €60,305 | €91,245 | +€30,940 | +51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,305 | €91,245 | +€30,940 | +51.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.