GMS-ELEC & Koï: what changed
What changed
GMS-ELEC & Koï
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€11,541
2024 · €23,880-€12,339
Equity
€120,121
2024 · €108,580+€11,541
Cash
€2,331
2024 · €52,899-€50,568
Balance sheet total
€261,022
2024 · €272,161-€11,139
Largest movements
Assets
- Cash -€50,568
down €50,568 (-95.6%), from €52,899 to €2,331
mainly Receivables within one year (-€36,699) and Trade debts (-€20,657)
- Receivables within one year +€36,699
up €36,699 (+46.6%), from €78,698 to €115,397
of which Trade receivables: +€19,238
Equity and liabilities
- Trade debts -€20,657
down €20,657 (-32.6%), from €63,298 to €42,641
- Reserves +€11,500
up €11,500 (+11.3%), from €101,517 to €113,017
- Tax, wage and social debts -€6,794
down €6,794 (-69.3%), from €9,798 to €3,004
of which Taxes: -€4,803
Income statement
- Staff costs +€15,753
up €15,753 (+40.6%), from €38,810 to €54,563
- Taxes -€5,541
down €5,541 (-49.3%), from €11,240 to €5,699
- Financial charges +€3,914
up €3,914 (+205%), from €1,906 to €5,820
- Depreciation -€3,703
down €3,703 (-26.7%), from €13,891 to €10,188
- Gross operating margin -€2,404
down €2,404 (-2.7%), from €90,310 to €87,906
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€23,880
Gross operating margin
-€2,404
Staff costs
-€15,753
Depreciation
+€3,703
Other operating charges
+€487
Financial income
+€1
Financial charges
-€3,914
Taxes
+€5,541
Result 2025
€11,541
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€40,452
Investment
-€12,436
Financing
+€2,320
Cash 2024
€52,899
From operations (derived)
-€40,452
Net result for the year
+€11,541
Depreciation
+€10,188
Receivables within one year
-€36,699
Deferred charges and accrued income
-€482
Trade debts
-€20,657
Tax, wage and social debts
-€6,794
Other debts
+€200
Accrued charges and deferred income
+€2,251
Investment (derived)
-€12,436
Investment in fixed assets (net)
-€12,436
Financing
+€2,320
Debts after one year
+€1,896
Current portion of long-term debt
-€233
Short-term financial debts
+€657
Cash 2025
€2,331
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €272,161 | €261,022 | -€11,139 | -4.1% |
| Fixed assets | 21/28 | €86,083 | €88,331 | +€2,248 | +2.6% |
| Tangible fixed assets | 22/27 | €86,083 | €88,331 | +€2,248 | +2.6% |
| Land and buildings | 22 | €72,601 | €70,585 | -€2,016 | -2.8% |
| Plant, machinery and equipment | 23 | €69 | - | -€69 | |
| Furniture and vehicles | 24 | €11,000 | €16,198 | +€5,198 | +47.3% |
| Other tangible fixed assets | 26 | €2,413 | €1,548 | -€865 | -35.8% |
| Current assets | 29/58 | €186,078 | €172,691 | -€13,387 | -7.2% |
| Amounts receivable after more than one year | 29 | €53,500 | €53,500 | = | 0.0% |
| Other amounts receivable | 291 | €53,500 | €53,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €78,698 | €115,397 | +€36,699 | +46.6% |
| Trade receivables | 40 | €63,353 | €82,591 | +€19,238 | +30.4% |
| Other amounts receivable | 41 | €15,345 | €32,806 | +€17,461 | +114% |
| Cash at bank and in hand | 54/58 | €52,899 | €2,331 | -€50,568 | -95.6% |
| Deferred charges and accrued income | 490/1 | €981 | €1,463 | +€482 | +49.1% |
| Total equity and liabilities | 10/49 | €272,161 | €261,022 | -€11,139 | -4.1% |
| Equity | 10/15 | €108,580 | €120,121 | +€11,541 | +10.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,517 | €113,017 | +€11,500 | +11.3% |
| Distributable reserves | 133 | €101,517 | €113,017 | +€11,500 | +11.3% |
| Profit (loss) carried forward | 14 | €863 | €904 | +€41 | +4.8% |
| Amounts payable | 17/49 | €163,581 | €140,901 | -€22,680 | -13.9% |
| Amounts payable after more than one year | 17 | €79,668 | €81,564 | +€1,896 | +2.4% |
| Financial debts | 170/4 | €79,668 | €81,564 | +€1,896 | +2.4% |
| Amounts payable within one year | 42/48 | €83,913 | €57,086 | -€26,827 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €10,317 | €10,084 | -€233 | -2.3% |
| Financial debts | 43 | - | €657 | +€657 | |
| Credit institutions | 430/8 | - | €657 | +€657 | |
| Trade debts | 44 | €63,298 | €42,641 | -€20,657 | -32.6% |
| Suppliers | 440/4 | €63,298 | €42,641 | -€20,657 | -32.6% |
| Taxes, remuneration and social security | 45 | €9,798 | €3,004 | -€6,794 | -69.3% |
| Taxes | 450/3 | €4,803 | - | -€4,803 | |
| Remuneration and social security | 454/9 | €4,995 | €3,004 | -€1,991 | -39.9% |
| Other amounts payable | 47/48 | €500 | €700 | +€200 | +40.0% |
| Accrued charges and deferred income | 492/3 | - | €2,251 | +€2,251 | |
| Remuneration, social security and pensions | 62 | €38,810 | €54,563 | +€15,753 | +40.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,891 | €10,188 | -€3,703 | -26.7% |
| Other operating charges | 640/8 | €602 | €115 | -€487 | -80.9% |
| Gross operating margin | 9900 | €90,310 | €87,906 | -€2,404 | -2.7% |
| Operating profit (loss) | 9901 | €37,007 | €23,040 | -€13,967 | -37.7% |
| Financial income | 75/76B | €19 | €20 | +€1 | +5.3% |
| Recurring financial income | 75 | €19 | €20 | +€1 | +5.3% |
| Financial charges | 65/66B | €1,906 | €5,820 | +€3,914 | +205% |
| Recurring financial charges | 65 | €1,906 | €5,820 | +€3,914 | +205% |
| Profit (loss) for the period before taxes | 9903 | €35,120 | €17,240 | -€17,880 | -50.9% |
| Income taxes | 67/77 | €11,240 | €5,699 | -€5,541 | -49.3% |
| Profit (loss) for the period | 9904 | €23,880 | €11,541 | -€12,339 | -51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,880 | €11,541 | -€12,339 | -51.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.