GMR Group: 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.
GMR Group
Largest movements
- Tangible fixed assets +€478,832
up €478,832 (+4,630%), from €10,343 to €489,175
of which Land and buildings: +€480,381
- Stocks and contracts +€34,555
up €34,555 (+331%), from €10,445 to €45,000
- Debts after one year +€406,481
new in 2025: €406,481
- Other debts +€68,901
up €68,901 (+610%), from €11,287 to €80,188
- Short-term financial debts +€24,073
new in 2025: €24,073
- Trade debts +€17,071
up €17,071 (+97.2%), from €17,572 to €34,643
- Tax, wage and social debts -€11,738
down €11,738 (-55.7%), from €21,079 to €9,340
of which Taxes: -€8,896
- Gross operating margin +€100,173
up €100,173 (+166%), from €60,256 to €160,429
- Staff costs +€53,045
up €53,045 (+107%), from €49,721 to €102,766
- Financial charges +€18,371
up €18,371 (+1,126%), from €1,631 to €20,002
- Depreciation +€14,464
up €14,464 (+274%), from €5,279 to €19,743
- Other operating charges +€2,358
up €2,358 (+44.8%), from €5,269 to €7,627
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 | €141,459 | €652,827 | +€511,368 | +361% |
| Fixed assets | 21/28 | €25,783 | €509,565 | +€483,782 | +1,876% |
| Tangible fixed assets | 22/27 | €10,343 | €489,175 | +€478,832 | +4,630% |
| Land and buildings | 22 | - | €480,381 | +€480,381 | |
| Plant, machinery and equipment | 23 | €8,647 | €8,794 | +€148 | +1.7% |
| Furniture and vehicles | 24 | €1,696 | - | -€1,696 | |
| Financial fixed assets | 28 | €15,440 | €20,390 | +€4,950 | +32.1% |
| Current assets | 29/58 | €115,676 | €143,262 | +€27,586 | +23.8% |
| Stocks and contracts in progress | 3 | €10,445 | €45,000 | +€34,555 | +331% |
| Contracts in progress | 37 | €10,445 | €45,000 | +€34,555 | +331% |
| Amounts receivable within one year | 40/41 | €49,009 | €46,952 | -€2,057 | -4.2% |
| Trade receivables | 40 | €12,702 | €15,001 | +€2,299 | +18.1% |
| Other amounts receivable | 41 | €36,307 | €31,951 | -€4,356 | -12.0% |
| Cash at bank and in hand | 54/58 | €51,512 | €46,173 | -€5,339 | -10.4% |
| Deferred charges and accrued income | 490/1 | €4,710 | €5,137 | +€427 | +9.1% |
| Total equity and liabilities | 10/49 | €141,459 | €652,827 | +€511,368 | +361% |
| Equity | 10/15 | €87,585 | €94,165 | +€6,581 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €85,000 | €85,000 | = | 0.0% |
| Distributable reserves | 133 | €85,000 | €85,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,615 | €2,965 | +€6,581 | |
| Amounts payable | 17/49 | €53,874 | €558,662 | +€504,788 | +937% |
| Amounts payable after more than one year | 17 | - | €406,481 | +€406,481 | |
| Financial debts | 170/4 | - | €406,481 | +€406,481 | |
| Amounts payable within one year | 42/48 | €49,938 | €148,244 | +€98,307 | +197% |
| Financial debts | 43 | - | €24,073 | +€24,073 | |
| Credit institutions | 430/8 | - | €24,073 | +€24,073 | |
| Trade debts | 44 | €17,572 | €34,643 | +€17,071 | +97.2% |
| Suppliers | 440/4 | €17,572 | €34,643 | +€17,071 | +97.2% |
| Taxes, remuneration and social security | 45 | €21,079 | €9,340 | -€11,738 | -55.7% |
| Taxes | 450/3 | €16,850 | €7,954 | -€8,896 | -52.8% |
| Remuneration and social security | 454/9 | €4,229 | €1,387 | -€2,842 | -67.2% |
| Other amounts payable | 47/48 | €11,287 | €80,188 | +€68,901 | +610% |
| Accrued charges and deferred income | 492/3 | €3,936 | €3,936 | = | 0.0% |
| Non-recurring operating income | 76A | €243 | €4,729 | +€4,485 | +1,842% |
| Remuneration, social security and pensions | 62 | €49,721 | €102,766 | +€53,045 | +107% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,279 | €19,743 | +€14,464 | +274% |
| Other operating charges | 640/8 | €5,269 | €7,627 | +€2,358 | +44.8% |
| Non-recurring operating charges | 66A | €320 | - | -€320 | |
| Gross operating margin | 9900 | €60,256 | €160,429 | +€100,173 | +166% |
| Operating profit (loss) | 9901 | -€333 | €30,293 | +€30,626 | |
| Financial income | 75/76B | €234 | €5 | -€228 | -97.8% |
| Recurring financial income | 75 | €234 | €5 | -€228 | -97.8% |
| Financial charges | 65/66B | €1,631 | €20,002 | +€18,371 | +1,126% |
| Recurring financial charges | 65 | €1,631 | €20,002 | +€18,371 | +1,126% |
| Profit (loss) for the period before taxes | 9903 | -€1,730 | €10,296 | +€12,026 | |
| Income taxes | 67/77 | €2,640 | €3,715 | +€1,076 | +40.7% |
| Profit (loss) for the period | 9904 | -€4,370 | €6,581 | +€10,951 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,370 | €6,581 | +€10,951 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.