GMS TEX: 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.
GMS TEX
Largest movements
- Receivables within one year -€57,808
down €57,808 (-19.5%), from €296,937 to €239,129
of which Trade receivables: -€61,248
- Stocks and contracts +€47,000
up €47,000 (+247%), from €19,000 to €66,000
- Tangible fixed assets +€33,000
up €33,000 (+846%), from €3,900 to €36,900
of which Furniture and vehicles: +€34,200
- Cash +€30,295
up €30,295 (+142%), from €21,267 to €51,563
mainly Receivables within one year (+€57,808) and Trade debts (+€34,457)
- Trade debts +€34,457
up €34,457 (+11.7%), from €295,564 to €330,021
- Profit (loss) carried forward +€9,662
up €9,662 (+32.5%), from €29,703 to €39,365
- Tax, wage and social debts +€8,888
up €8,888 (+63.8%), from €13,930 to €22,818
of which Remuneration and social security: +€8,829
- Staff costs +€34,928
up €34,928 (+134%), from €26,071 to €61,000
- Gross operating margin +€31,070
up €31,070 (+56.1%), from €55,349 to €86,419
- Other operating charges +€2,682
up €2,682 (+42.5%), from €6,312 to €8,995
- Depreciation +€1,800
up €1,800 (+150%), from €1,200 to €3,000
- Taxes -€1,115
down €1,115 (-23.9%), from €4,654 to €3,539
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 | €342,514 | €395,204 | +€52,689 | +15.4% |
| Fixed assets | 21/28 | €3,900 | €36,900 | +€33,000 | +846% |
| Tangible fixed assets | 22/27 | €3,900 | €36,900 | +€33,000 | +846% |
| Plant, machinery and equipment | 23 | €3,900 | €2,700 | -€1,200 | -30.8% |
| Furniture and vehicles | 24 | - | €34,200 | +€34,200 | |
| Current assets | 29/58 | €338,614 | €358,304 | +€19,689 | +5.8% |
| Stocks and contracts in progress | 3 | €19,000 | €66,000 | +€47,000 | +247% |
| Stocks | 30/36 | €19,000 | €66,000 | +€47,000 | +247% |
| Amounts receivable within one year | 40/41 | €296,937 | €239,129 | -€57,808 | -19.5% |
| Trade receivables | 40 | €296,937 | €235,689 | -€61,248 | -20.6% |
| Other amounts receivable | 41 | - | €3,440 | +€3,440 | |
| Cash at bank and in hand | 54/58 | €21,267 | €51,563 | +€30,295 | +142% |
| Deferred charges and accrued income | 490/1 | €1,410 | €1,612 | +€202 | +14.3% |
| Total equity and liabilities | 10/49 | €342,514 | €395,204 | +€52,689 | +15.4% |
| Equity | 10/15 | €32,703 | €42,365 | +€9,662 | +29.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,703 | €39,365 | +€9,662 | +32.5% |
| Amounts payable | 17/49 | €309,812 | €352,839 | +€43,027 | +13.9% |
| Amounts payable within one year | 42/48 | €309,812 | €352,839 | +€43,027 | +13.9% |
| Trade debts | 44 | €295,564 | €330,021 | +€34,457 | +11.7% |
| Suppliers | 440/4 | €295,564 | €330,021 | +€34,457 | +11.7% |
| Taxes, remuneration and social security | 45 | €13,930 | €22,818 | +€8,888 | +63.8% |
| Taxes | 450/3 | €8,360 | €8,418 | +€58 | +0.7% |
| Remuneration and social security | 454/9 | €5,571 | €14,400 | +€8,829 | +158% |
| Other amounts payable | 47/48 | €318 | - | -€318 | |
| Remuneration, social security and pensions | 62 | €26,071 | €61,000 | +€34,928 | +134% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,200 | €3,000 | +€1,800 | +150% |
| Other operating charges | 640/8 | €6,312 | €8,995 | +€2,682 | +42.5% |
| Gross operating margin | 9900 | €55,349 | €86,419 | +€31,070 | +56.1% |
| Operating profit (loss) | 9901 | €21,766 | €13,425 | -€8,341 | -38.3% |
| Financial charges | 65/66B | €369 | €223 | -€146 | -39.6% |
| Recurring financial charges | 65 | €369 | €223 | -€146 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | €21,396 | €13,202 | -€8,195 | -38.3% |
| Income taxes | 67/77 | €4,654 | €3,539 | -€1,115 | -23.9% |
| Profit (loss) for the period | 9904 | €16,742 | €9,662 | -€7,080 | -42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,742 | €9,662 | -€7,080 | -42.3% |
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 20 October 2026 via checked.be.