GMS STORE: 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.
What changed
GMS STORE
NACE 46.712, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2.0m
2024 · €2.0m-€4.1m
Equity
-€1.3m
2024 · €762,613-€2.0m
Cash
€299,145
2024 · €189,170+€109,975
Balance sheet total
€13.6m
2024 · €11.4m+€2.3m
Largest movements
Assets
- Receivables within one year +€1.4m
up €1.4m (+104.0%), from €1.3m to €2.7m
of which Trade receivables: +€1.4m
- Stocks and contracts +€833,751
up €833,751 (+10.2%), from €8.2m to €9.0m
Equity and liabilities
- Other debts +€2.6m
up €2.6m (+68.9%), from €3.7m to €6.3m
- Profit (loss) carried forward -€2.0m
down €2.0m (-188.2%), from -€1.1m to -€3.1m
- Trade debts +€1.5m
up €1.5m (+27.6%), from €5.5m to €7.0m
- Short-term financial debts +€277,116
up €277,116 (+39.2%), from €706,049 to €983,164
- Accrued charges and deferred income -€195,160
down €195,160 (-59.3%), from €329,226 to €134,065
Income statement
- Turnover -€2.6m
down €2.6m (-8.3%), from €30.6m to €28.1m
- Goods and materials -€2.5m
down €2.5m (-9.2%), from €27.2m to €24.7m
of which Purchases: -€2.8m
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.
Result 2024
€2.0m
Turnover
-€2.6m
Other operating income
-€29,908
Goods and materials
+€2.5m
Services and other goods
-€72,354
Staff costs
-€150,128
Depreciation
-€98,233
Write-downs
-€205,481
Other operating charges
-€50,387
Other operating items
-€3.5m
Financial income
-€1,982
Financial charges
+€159,638
Taxes
-€15,667
Result 2025
-€2.0m
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.
From operations
+€198,897
Investment
-€366,037
Financing
+€277,116
Cash 2024
€189,170
From operations (derived)
+€198,897
Net result for the year
-€2.0m
Depreciation
+€423,555
Stocks and contracts
-€833,751
Receivables within one year
-€1.4m
Deferred charges and accrued income
-€6,733
Trade debts
+€1.5m
Tax, wage and social debts
+€148,876
Advances received
-€12,739
Other debts
+€2.6m
Accrued charges and deferred income
-€195,160
Investment (derived)
-€366,037
Investment in fixed assets (net)
-€366,037
Financing
+€277,116
Short-term financial debts
+€277,116
Cash 2025
€299,145
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,361,015 | €13,616,728 | +€2.3m | +19.9% |
| Fixed assets | 21/28 | €1,636,978 | €1,579,461 | -€57,517 | -3.5% |
| Intangible fixed assets | 21 | €200,000 | €163,333 | -€36,667 | -18.3% |
| Tangible fixed assets | 22/27 | €1,351,476 | €1,330,626 | -€20,851 | -1.5% |
| Plant, machinery and equipment | 23 | €34,724 | €24,892 | -€9,832 | -28.3% |
| Furniture and vehicles | 24 | €867,996 | €972,416 | +€104,420 | +12.0% |
| Leasing and similar rights | 25 | €47 | €0 | -€47 | -100.0% |
| Other tangible fixed assets | 26 | €448,709 | €333,318 | -€115,391 | -25.7% |
| Financial fixed assets | 28 | €85,502 | €85,502 | = | 0.0% |
| Other financial fixed assets | 284/8 | €85,502 | €85,502 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €85,502 | €85,502 | = | 0.0% |
| Current assets | 29/58 | €9,724,037 | €12,037,267 | +€2.3m | +23.8% |
| Stocks and contracts in progress | 3 | €8,208,272 | €9,042,023 | +€833,751 | +10.2% |
| Stocks | 30/36 | €8,208,272 | €9,042,023 | +€833,751 | +10.2% |
| Goods purchased for resale | 34 | €8,208,272 | €9,042,023 | +€833,751 | +10.2% |
| Amounts receivable within one year | 40/41 | €1,310,350 | €2,673,121 | +€1.4m | +104.0% |
| Trade receivables | 40 | €1,308,559 | €2,673,121 | +€1.4m | +104.3% |
| Other amounts receivable | 41 | €1,791 | €0 | -€1,791 | -100.0% |
| Cash at bank and in hand | 54/58 | €189,170 | €299,145 | +€109,975 | +58.1% |
| Deferred charges and accrued income | 490/1 | €16,245 | €22,977 | +€6,733 | +41.4% |
| Total equity and liabilities | 10/49 | €11,361,015 | €13,616,728 | +€2.3m | +19.9% |
| Equity | 10/15 | €762,613 | -€1,269,116 | -€2.0m | |
| Contributions | 10/11 | €1,835,000 | €1,835,000 | = | 0.0% |
| Reserves | 13 | €7,037 | €7,037 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,037 | €2,037 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,079,424 | -€3,111,153 | -€2.0m | -188.2% |
| Amounts payable | 17/49 | €10,598,402 | €14,885,844 | +€4.3m | +40.5% |
| Amounts payable within one year | 42/48 | €10,269,176 | €14,751,779 | +€4.5m | +43.7% |
| Financial debts | 43 | €706,049 | €983,164 | +€277,116 | +39.2% |
| Credit institutions | 430/8 | €706,049 | €983,164 | +€277,116 | +39.2% |
| Trade debts | 44 | €5,466,308 | €6,975,320 | +€1.5m | +27.6% |
| Suppliers | 440/4 | €5,466,308 | €6,975,320 | +€1.5m | +27.6% |
| Advances received on contracts in progress | 46 | €100,735 | €87,996 | -€12,739 | -12.6% |
| Taxes, remuneration and social security | 45 | €280,063 | €428,939 | +€148,876 | +53.2% |
| Taxes | 450/3 | €54,440 | €200,212 | +€145,771 | +267.8% |
| Remuneration and social security | 454/9 | €225,623 | €228,727 | +€3,105 | +1.4% |
| Other amounts payable | 47/48 | €3,716,022 | €6,276,360 | +€2.6m | +68.9% |
| Accrued charges and deferred income | 492/3 | €329,226 | €134,065 | -€195,160 | -59.3% |
| Operating income | 70/76A | €34,327,596 | €28,214,392 | -€6.1m | -17.8% |
| Turnover | 70 | €30,638,571 | €28,080,470 | -€2.6m | -8.3% |
| Other operating income | 74 | €140,051 | €110,143 | -€29,908 | -21.4% |
| Non-recurring operating income | 76A | €3,548,974 | €23,779 | -€3.5m | -99.3% |
| Operating charges | 60/66A | €31,762,362 | €29,846,236 | -€1.9m | -6.0% |
| Goods for resale, raw materials and consumables | 60 | €27,178,849 | €24,685,938 | -€2.5m | -9.2% |
| Purchases | 600/8 | €28,534,054 | €25,781,692 | -€2.8m | -9.6% |
| Change in stocks: decrease (increase) | 609 | -€1,355,206 | -€1,095,754 | +€259,452 | +19.1% |
| Services and other goods | 61 | €2,314,478 | €2,386,832 | +€72,354 | +3.1% |
| Remuneration, social security and pensions | 62 | €1,808,446 | €1,958,574 | +€150,128 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €325,322 | €423,555 | +€98,233 | +30.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €54,067 | €259,548 | +€205,481 | +380.1% |
| Other operating charges | 640/8 | €71,822 | €122,209 | +€50,387 | +70.2% |
| Non-recurring operating charges | 66A | €9,379 | €9,580 | +€201 | +2.1% |
| Operating profit (loss) | 9901 | €2,565,234 | -€1,631,844 | -€4.2m | |
| Financial income | 75/76B | €5,870 | €3,889 | -€1,982 | -33.8% |
| Recurring financial income | 75 | €5,870 | €3,889 | -€1,982 | -33.8% |
| Other financial income | 752/9 | €5,870 | €3,889 | -€1,982 | -33.8% |
| Financial charges | 65/66B | €549,972 | €390,334 | -€159,638 | -29.0% |
| Recurring financial charges | 65 | €549,972 | €390,334 | -€159,638 | -29.0% |
| Debt charges | 650 | €509,828 | €361,949 | -€147,879 | -29.0% |
| Other financial charges | 652/9 | €40,144 | €28,385 | -€11,759 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €2,021,132 | -€2,018,289 | -€4.0m | |
| Income taxes | 67/77 | -€2,227 | €13,440 | +€15,667 | |
| Taxes | 670/3 | €3,000 | €13,440 | +€10,440 | +348.0% |
| Tax adjustments and reversals of tax provisions | 77 | €5,227 | - | -€5,227 | |
| Profit (loss) for the period | 9904 | €2,023,359 | -€2,031,729 | -€4.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €2,023,359 | -€2,031,729 | -€4.1m |
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 11 October 2026 via checked.be.