GMP: 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.
GMP
Largest movements
- Receivables within one year +€72,369
up €72,369 (+85.9%), from €84,243 to €156,613
of which Other amounts receivable: +€70,357
- Financial fixed assets +€70,000
up €70,000 (+61.2%), from €114,361 to €184,361
- Tangible fixed assets -€51,392
down €51,392 (-6.2%), from €823,751 to €772,359
of which Land and buildings: -€39,728
- Reserves +€128,492
up €128,492 (+3320.2%), from €3,870 to €132,362
of which Distributable reserves: +€128,492
- Debts after one year -€63,636
down €63,636 (-11.7%), from €544,335 to €480,699
- Tax, wage and social debts +€47,132
up €47,132 (+182.2%), from €25,869 to €73,001
of which Taxes: +€45,117
- Short-term financial debts -€23,863
down €23,863 (-100.0%), from €23,863 to €0
- Gross operating margin -€125,384
down €125,384 (-26.1%), from €479,623 to €354,239
- Staff costs -€71,883
down €71,883 (-59.3%), from €121,284 to €49,401
- Financial charges -€12,350
down €12,350 (-19.2%), from €64,317 to €51,966
of which Financial charges: -€10,712
- Taxes +€5,023
up €5,023 (+8.1%), from €62,198 to €67,222
- Financial income -€4,844
down €4,844 (-51.5%), from €9,411 to €4,567
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 | €1,026,962 | €1,120,253 | +€93,292 | +9.1% |
| Fixed assets | 21/28 | €938,112 | €956,719 | +€18,608 | +2.0% |
| Tangible fixed assets | 22/27 | €823,751 | €772,359 | -€51,392 | -6.2% |
| Land and buildings | 22 | €774,544 | €734,816 | -€39,728 | -5.1% |
| Plant, machinery and equipment | 23 | €17,336 | €13,002 | -€4,334 | -25.0% |
| Furniture and vehicles | 24 | €1,490 | €485 | -€1,005 | -67.5% |
| Leasing and similar rights | 25 | €30,381 | €24,056 | -€6,325 | -20.8% |
| Financial fixed assets | 28 | €114,361 | €184,361 | +€70,000 | +61.2% |
| Current assets | 29/58 | €88,850 | €163,534 | +€74,684 | +84.1% |
| Amounts receivable within one year | 40/41 | €84,243 | €156,613 | +€72,369 | +85.9% |
| Trade receivables | 40 | €1,649 | €3,661 | +€2,012 | +122.0% |
| Other amounts receivable | 41 | €82,594 | €152,951 | +€70,357 | +85.2% |
| Cash at bank and in hand | 54/58 | €3,854 | €6,360 | +€2,506 | +65.0% |
| Deferred charges and accrued income | 490/1 | €753 | €561 | -€191 | -25.4% |
| Total equity and liabilities | 10/49 | €1,026,962 | €1,120,253 | +€93,292 | +9.1% |
| Equity | 10/15 | €113,239 | €238,022 | +€124,783 | +110.2% |
| Contributions | 10/11 | €38,700 | €38,700 | = | 0.0% |
| Reserves | 13 | €3,870 | €132,362 | +€128,492 | +3320.2% |
| Non-distributable reserves | 130/1 | €3,870 | €3,870 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,870 | €3,870 | = | 0.0% |
| Distributable reserves | 133 | - | €128,492 | +€128,492 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €70,669 | €66,960 | -€3,709 | -5.2% |
| Amounts payable | 17/49 | €913,723 | €882,232 | -€31,491 | -3.4% |
| Amounts payable after more than one year | 17 | €544,335 | €480,699 | -€63,636 | -11.7% |
| Financial debts | 170/4 | €544,335 | €480,699 | -€63,636 | -11.7% |
| Amounts payable within one year | 42/48 | €359,321 | €391,222 | +€31,902 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €64,205 | €63,636 | -€569 | -0.9% |
| Financial debts | 43 | €23,863 | €0 | -€23,863 | -100.0% |
| Credit institutions | 430/8 | €23,863 | €0 | -€23,863 | -100.0% |
| Trade debts | 44 | €3,187 | €2,588 | -€599 | -18.8% |
| Suppliers | 440/4 | €3,187 | €2,588 | -€599 | -18.8% |
| Taxes, remuneration and social security | 45 | €25,869 | €73,001 | +€47,132 | +182.2% |
| Taxes | 450/3 | €22,647 | €67,764 | +€45,117 | +199.2% |
| Remuneration and social security | 454/9 | €3,222 | €5,238 | +€2,015 | +62.6% |
| Other amounts payable | 47/48 | €242,195 | €251,997 | +€9,802 | +4.0% |
| Accrued charges and deferred income | 492/3 | €10,067 | €10,310 | +€243 | +2.4% |
| Non-recurring operating income | 76A | €19,157 | €0 | -€19,157 | -100.0% |
| Remuneration, social security and pensions | 62 | €121,284 | €49,401 | -€71,883 | -59.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,167 | €53,667 | +€1,500 | +2.9% |
| Other operating charges | 640/8 | €8,941 | €8,057 | -€884 | -9.9% |
| Gross operating margin | 9900 | €479,623 | €354,239 | -€125,384 | -26.1% |
| Operating profit (loss) | 9901 | €297,230 | €243,113 | -€54,117 | -18.2% |
| Financial income | 75/76B | €9,411 | €4,567 | -€4,844 | -51.5% |
| Recurring financial income | 75 | €9,411 | €4,567 | -€4,844 | -51.5% |
| Financial charges | 65/66B | €64,317 | €51,966 | -€12,350 | -19.2% |
| Recurring financial charges | 65 | €62,678 | €51,966 | -€10,712 | -17.1% |
| Non-recurring financial charges | 66B | €1,639 | €0 | -€1,639 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €242,325 | €195,713 | -€46,611 | -19.2% |
| Income taxes | 67/77 | €62,198 | €67,222 | +€5,023 | +8.1% |
| Profit (loss) for the period | 9904 | €180,126 | €128,492 | -€51,635 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €180,126 | €128,492 | -€51,635 | -28.7% |
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 12 October 2026 via checked.be.