GMO Projects: 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.
GMO Projects
Largest movements
- Receivables within one year -€1.5m
down €1.5m (-50.3%), from €3.0m to €1.5m
of which Other amounts receivable: -€1.2m
- Cash -€279,269
down €279,269 (-99.9%), from €279,675 to €406
mainly Contributions, distributions and other (-€883,365) and Advances received (-€524,704)
- Reserves -€883,365
down €883,365 (-82.0%), from €1.1m to €194,064
of which Distributable reserves: -€883,365
- Advances received -€524,704
down €524,704 (-31.0%), from €1.7m to €1.2m
- Trade debts -€351,687
down €351,687 (-39.0%), from €900,779 to €549,092
- Tax, wage and social debts -€44,330
down €44,330 (-97.1%), from €45,641 to €1,311
of which Taxes: -€44,330
- Taxes -€536,483
down €536,483 (-99.8%), from €537,794 to €1,311
- Gross operating margin +€470,284
up €470,284, from -€20,050 to €450,234
- Financial income -€48,531
down €48,531 (-99.1%), from €48,973 to €442
- Other operating charges -€15,013
down €15,013 (-90.5%), from €16,590 to €1,577
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 | €3,301,459 | €1,495,517 | -€1.8m | -54.7% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €3,301,459 | €1,495,517 | -€1.8m | -54.7% |
| Stocks and contracts in progress | 3 | €5,000 | €0 | -€5,000 | -100.0% |
| Stocks | 30/36 | €5,000 | €0 | -€5,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €3,006,154 | €1,495,110 | -€1.5m | -50.3% |
| Trade receivables | 40 | €940,460 | €594,044 | -€346,416 | -36.8% |
| Other amounts receivable | 41 | €2,065,694 | €901,066 | -€1.2m | -56.4% |
| Cash at bank and in hand | 54/58 | €279,675 | €406 | -€279,269 | -99.9% |
| Deferred charges and accrued income | 490/1 | €10,630 | €0 | -€10,630 | -100.0% |
| Total equity and liabilities | 10/49 | €3,301,459 | €1,495,517 | -€1.8m | -54.7% |
| Equity | 10/15 | €627,484 | -€251,291 | -€878,776 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,077,429 | €194,064 | -€883,365 | -82.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,077,429 | €194,064 | -€883,365 | -82.0% |
| Profit (loss) carried forward | 14 | -€499,945 | -€495,356 | +€4,589 | +0.9% |
| Amounts payable | 17/49 | €2,673,975 | €1,746,808 | -€927,167 | -34.7% |
| Amounts payable within one year | 42/48 | €2,673,975 | €1,746,808 | -€927,167 | -34.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €900,779 | €549,092 | -€351,687 | -39.0% |
| Suppliers | 440/4 | €900,779 | €549,092 | -€351,687 | -39.0% |
| Advances received on contracts in progress | 46 | €1,691,704 | €1,167,000 | -€524,704 | -31.0% |
| Taxes, remuneration and social security | 45 | €45,641 | €1,311 | -€44,330 | -97.1% |
| Taxes | 450/3 | €45,641 | €1,311 | -€44,330 | -97.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €35,852 | €29,405 | -€6,447 | -18.0% |
| Non-recurring operating income | 76A | €63,742 | €0 | -€63,742 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €16,590 | €1,577 | -€15,013 | -90.5% |
| Non-recurring operating charges | 66A | €2,988 | €436,067 | +€433,078 | +14492.1% |
| Gross operating margin | 9900 | -€20,050 | €450,234 | +€470,284 | |
| Operating profit (loss) | 9901 | -€39,628 | €12,590 | +€52,218 | |
| Financial income | 75/76B | €48,973 | €442 | -€48,531 | -99.1% |
| Recurring financial income | 75 | €48,973 | €442 | -€48,531 | -99.1% |
| Financial charges | 65/66B | €3,997 | €7,132 | +€3,136 | +78.5% |
| Recurring financial charges | 65 | €3,997 | €7,132 | +€3,136 | +78.5% |
| Profit (loss) for the period before taxes | 9903 | €5,348 | €5,900 | +€552 | +10.3% |
| Income taxes | 67/77 | €537,794 | €1,311 | -€536,483 | -99.8% |
| Profit (loss) for the period | 9904 | -€532,446 | €4,589 | +€537,035 | |
| Profit (loss) for the period to be appropriated | 9905 | -€532,446 | €4,589 | +€537,035 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.