GMSM: 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.
GMSM
Largest movements
- Receivables within one year -€5,342
down €5,342 (-87.3%), from €6,118 to €776
- Tangible fixed assets -€879
down €879 (-54.3%), from €1,619 to €740
- Equity -€6,810
down €6,810 (-46.5%), from -€14,649 to -€21,459
of which Profit (loss) carried forward: -€6,810
- Debts +€589
up €589 (+2.6%), from €22,412 to €23,000
of which Debts within one year: +€598
- Other operating charges +€3,810
new in 2021: €3,810
- Financial charges +€931
new in 2021: €931
- Gross operating margin +€366
up €366 (+23.5%), from -€1,555 to -€1,189
From the 2020 result to the 2021 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,762 | €1,541 | -€6,221 | -80.1% |
| Fixed assets | 21/28 | €1,644 | €765 | -€879 | -53.5% |
| Tangible fixed assets | 22/27 | €1,619 | €740 | -€879 | -54.3% |
| Furniture and vehicles | 24 | - | €740 | +€740 | |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €6,118 | €776 | -€5,342 | -87.3% |
| Amounts receivable within one year | 40/41 | €6,118 | €776 | -€5,342 | -87.3% |
| Other amounts receivable | 41 | - | €776 | +€776 | |
| Total equity and liabilities | 10/49 | €7,762 | €1,541 | -€6,221 | -80.1% |
| Equity | 10/15 | -€14,649 | -€21,459 | -€6,810 | -46.5% |
| Contributions | 10/11 | - | €6,200 | +€6,200 | |
| Profit (loss) carried forward | 14 | -€20,849 | -€27,659 | -€6,810 | -32.7% |
| Amounts payable | 17/49 | €22,412 | €23,000 | +€589 | +2.6% |
| Amounts payable within one year | 42/48 | €22,180 | €22,779 | +€598 | +2.7% |
| Financial debts | 43 | - | €5,887 | +€5,887 | |
| Credit institutions | 430/8 | - | €5,887 | +€5,887 | |
| Trade debts | 44 | €3,597 | €1,031 | -€2,566 | -71.3% |
| Suppliers | 440/4 | - | €1,031 | +€1,031 | |
| Other amounts payable | 47/48 | - | €15,860 | +€15,860 | |
| Accrued charges and deferred income | 492/3 | - | €222 | +€222 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €879 | €879 | +€0 | 0.0% |
| Other operating charges | 640/8 | - | €3,810 | +€3,810 | |
| Gross operating margin | 9900 | -€1,555 | -€1,189 | +€366 | +23.5% |
| Operating profit (loss) | 9901 | -€2,781 | -€5,878 | -€3,097 | -111% |
| Financial charges | 65/66B | - | €931 | +€931 | |
| Recurring financial charges | 65 | €906 | €931 | +€25 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,688 | -€6,810 | -€3,122 | -84.7% |
| Profit (loss) for the period | 9904 | -€3,688 | -€6,810 | -€3,122 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,688 | -€6,810 | -€3,122 | -84.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.