GMP 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.
GMP PROJECTS
Largest movements
- Tangible fixed assets +€71,536
up €71,536 (+293.8%), from €24,351 to €95,887
of which Furniture and vehicles: +€74,278
- Cash -€40,839
down €40,839 (-55.0%), from €74,302 to €33,463
mainly Investment in fixed assets (net) (-€79,928) and Contributions, distributions and other (-€69,632)
- Receivables within one year +€38,971
up €38,971 (+4165.4%), from €936 to €39,906
of which Trade receivables: +€24,200
- Profit (loss) carried forward -€69,632
down €69,632 (-100.0%), from €69,632 to €0
- Reserves +€53,809
up €53,809 (+499.9%), from €10,764 to €64,573
- Debts after one year +€40,362
up €40,362 (+589.0%), from €6,853 to €47,216
- Other debts +€27,800
up €27,800 (+76.2%), from €36,502 to €64,301
- Tax, wage and social debts +€13,557
up €13,557 (+115.1%), from €11,777 to €25,333
- Gross operating margin -€7,311
down €7,311 (-7.8%), from €93,605 to €86,294
- Depreciation +€5,953
up €5,953 (+244.1%), from €2,438 to €8,392
- Taxes +€1,872
up €1,872 (+9.2%), from €20,422 to €22,294
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 | €150,033 | €221,771 | +€71,738 | +47.8% |
| Fixed assets | 21/28 | €24,351 | €95,887 | +€71,536 | +293.8% |
| Tangible fixed assets | 22/27 | €24,351 | €95,887 | +€71,536 | +293.8% |
| Land and buildings | 22 | €7,359 | €6,344 | -€1,015 | -13.8% |
| Plant, machinery and equipment | 23 | €16,992 | €15,266 | -€1,727 | -10.2% |
| Furniture and vehicles | 24 | - | €74,278 | +€74,278 | |
| Current assets | 29/58 | €125,682 | €125,883 | +€202 | +0.2% |
| Amounts receivable within one year | 40/41 | €936 | €39,906 | +€38,971 | +4165.4% |
| Trade receivables | 40 | €0 | €24,200 | +€24,200 | |
| Other amounts receivable | 41 | €936 | €15,706 | +€14,771 | +1578.8% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €74,302 | €33,463 | -€40,839 | -55.0% |
| Deferred charges and accrued income | 490/1 | €444 | €2,513 | +€2,070 | +466.6% |
| Total equity and liabilities | 10/49 | €150,033 | €221,771 | +€71,738 | +47.8% |
| Equity | 10/15 | €84,396 | €68,573 | -€15,823 | -18.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €10,764 | €64,573 | +€53,809 | +499.9% |
| Distributable reserves | 133 | €10,764 | €64,573 | +€53,809 | +499.9% |
| Profit (loss) carried forward | 14 | €69,632 | €0 | -€69,632 | -100.0% |
| Amounts payable | 17/49 | €65,637 | €153,198 | +€87,560 | +133.4% |
| Amounts payable after more than one year | 17 | €6,853 | €47,216 | +€40,362 | +589.0% |
| Financial debts | 170/4 | €6,853 | €47,216 | +€40,362 | +589.0% |
| Amounts payable within one year | 42/48 | €58,784 | €105,982 | +€47,198 | +80.3% |
| Current portion of amounts payable after more than one year | 42 | €4,446 | €15,923 | +€11,477 | +258.1% |
| Trade debts | 44 | €6,059 | €424 | -€5,635 | -93.0% |
| Suppliers | 440/4 | €6,059 | €424 | -€5,635 | -93.0% |
| Taxes, remuneration and social security | 45 | €11,777 | €25,333 | +€13,557 | +115.1% |
| Taxes | 450/3 | €11,777 | €25,333 | +€13,557 | +115.1% |
| Other amounts payable | 47/48 | €36,502 | €64,301 | +€27,800 | +76.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,438 | €8,392 | +€5,953 | +244.1% |
| Other operating charges | 640/8 | €1,010 | €1,153 | +€142 | +14.1% |
| Gross operating margin | 9900 | €93,605 | €86,294 | -€7,311 | -7.8% |
| Operating profit (loss) | 9901 | €90,156 | €76,749 | -€13,406 | -14.9% |
| Financial income | 75/76B | €376 | €532 | +€157 | +41.8% |
| Recurring financial income | 75 | €376 | €532 | +€157 | +41.8% |
| Financial charges | 65/66B | €531 | €1,179 | +€648 | +121.9% |
| Recurring financial charges | 65 | €531 | €1,179 | +€648 | +121.9% |
| Profit (loss) for the period before taxes | 9903 | €90,000 | €76,103 | -€13,897 | -15.4% |
| Income taxes | 67/77 | €20,422 | €22,294 | +€1,872 | +9.2% |
| Profit (loss) for the period | 9904 | €69,578 | €53,809 | -€15,769 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €69,578 | €53,809 | -€15,769 | -22.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.