GMP HANKAR: 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 HANKAR
Largest movements
- Cash +€758,826
up €758,826 (+157%), from €484,662 to €1.2m
mainly Trade debts (+€629,123) and Net result for the year (+€362,013)
- Receivables within one year +€169,088
up €169,088 (+57.3%), from €295,096 to €464,184
of which Other amounts receivable: +€133,384
- Tangible fixed assets +€135,621
up €135,621 (+231%), from €58,679 to €194,300
of which Other tangible fixed assets: +€122,345
- Trade debts +€629,123
up €629,123 (+54.3%), from €1.2m to €1.8m
- Profit (loss) carried forward +€362,013
up €362,013, from -€350,367 to €11,646
- Debts after one year +€50,000
new in 2025: €50,000
- Staff costs -€1.4m
down €1.4m (-34.9%), from €4.0m to €2.6m
- Gross operating margin -€605,097
down €605,097 (-16.3%), from €3.7m to €3.1m
- Other operating charges +€64,300
up €64,300 (+589%), from €10,909 to €75,209
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 | €1,641,497 | €2,690,584 | +€1.0m | +63.9% |
| Formation expenses | 20 | €5,952 | €4,395 | -€1,558 | -26.2% |
| Fixed assets | 21/28 | €58,804 | €194,425 | +€135,621 | +231% |
| Tangible fixed assets | 22/27 | €58,679 | €194,300 | +€135,621 | +231% |
| Plant, machinery and equipment | 23 | €5,210 | €32,654 | +€27,444 | +527% |
| Furniture and vehicles | 24 | €43,590 | €39,301 | -€4,289 | -9.8% |
| Leasing and similar rights | 25 | €9,880 | €0 | -€9,880 | -100% |
| Other tangible fixed assets | 26 | - | €122,345 | +€122,345 | |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €1,576,740 | €2,491,765 | +€915,025 | +58.0% |
| Stocks and contracts in progress | 3 | €770,156 | €757,005 | -€13,151 | -1.7% |
| Stocks | 30/36 | €770,156 | €757,005 | -€13,151 | -1.7% |
| Amounts receivable within one year | 40/41 | €295,096 | €464,184 | +€169,088 | +57.3% |
| Trade receivables | 40 | €179,279 | €214,983 | +€35,703 | +19.9% |
| Other amounts receivable | 41 | €115,817 | €249,201 | +€133,384 | +115% |
| Cash at bank and in hand | 54/58 | €484,662 | €1,243,488 | +€758,826 | +157% |
| Deferred charges and accrued income | 490/1 | €26,825 | €27,087 | +€262 | +1.0% |
| Total equity and liabilities | 10/49 | €1,641,497 | €2,690,584 | +€1.0m | +63.9% |
| Equity | 10/15 | -€50,367 | €311,646 | +€362,013 | |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€350,367 | €11,646 | +€362,013 | |
| Amounts payable | 17/49 | €1,691,864 | €2,378,939 | +€687,075 | +40.6% |
| Amounts payable after more than one year | 17 | - | €50,000 | +€50,000 | |
| Other amounts payable | 178/9 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €1,691,864 | €2,328,939 | +€637,075 | +37.7% |
| Trade debts | 44 | €1,158,870 | €1,787,993 | +€629,123 | +54.3% |
| Suppliers | 440/4 | €1,158,870 | €1,787,993 | +€629,123 | +54.3% |
| Taxes, remuneration and social security | 45 | €529,716 | €511,451 | -€18,265 | -3.4% |
| Taxes | 450/3 | €45,199 | €36,663 | -€8,537 | -18.9% |
| Remuneration and social security | 454/9 | €484,517 | €474,788 | -€9,728 | -2.0% |
| Other amounts payable | 47/48 | €3,278 | €29,494 | +€26,217 | +800% |
| Remuneration, social security and pensions | 62 | €4,040,303 | €2,630,524 | -€1.4m | -34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,573 | €23,847 | +€12,274 | +106% |
| Other operating charges | 640/8 | €10,909 | €75,209 | +€64,300 | +589% |
| Gross operating margin | 9900 | €3,717,236 | €3,112,139 | -€605,097 | -16.3% |
| Operating profit (loss) | 9901 | -€345,549 | €382,559 | +€728,108 | |
| Financial income | 75/76B | €193 | €169 | -€24 | -12.7% |
| Recurring financial income | 75 | €193 | €169 | -€24 | -12.7% |
| Financial charges | 65/66B | €5,011 | €5,640 | +€629 | +12.5% |
| Recurring financial charges | 65 | €5,011 | €5,640 | +€629 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | -€350,367 | €377,088 | +€727,455 | |
| Income taxes | 67/77 | - | €15,075 | +€15,075 | |
| Profit (loss) for the period | 9904 | -€350,367 | €362,013 | +€712,380 | |
| Profit (loss) for the period to be appropriated | 9905 | -€350,367 | €362,013 | +€712,380 |
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 15 October 2026 via checked.be.