GMT COATINGS: 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.
GMT COATINGS
Largest movements
- Financial fixed assets +€1.4m
up €1.4m (+425%), from €329,500 to €1.7m
- Receivables within one year +€56,643
up €56,643 (+101%), from €56,353 to €112,996
of which Other amounts receivable: +€53,908
- Deferred charges and accrued income -€45,000
no longer reported in 2025 (was €45,000)
- Receivables after one year +€29,000
up €29,000 (+48.3%), from €60,000 to €89,000
- Debts after one year +€1.5m
up €1.5m (+5,744%), from €26,331 to €1.5m
- Other debts -€171,738
no longer reported in 2025 (was €171,738)
- Reserves +€91,000
new in 2025: €91,000
- Current portion of long-term debt +€34,286
up €34,286 (+27.2%), from €126,197 to €160,483
- Financial income +€107,032
up €107,032 (+825%), from €12,968 to €120,000
of which Financial income: +€118,218
- Gross operating margin -€22,320
down €22,320, from €18,960 to -€3,361
- Financial charges -€21,755
down €21,755 (-64.3%), from €33,837 to €12,082
- Staff costs -€14,402
down €14,402 (-87.8%), from €16,402 to €2,000
- Taxes +€5,260
up €5,260 (+137%), from €3,840 to €9,100
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 | €491,662 | €1,933,972 | +€1.4m | +293% |
| Fixed assets | 21/28 | €329,500 | €1,731,623 | +€1.4m | +426% |
| Tangible fixed assets | 22/27 | - | €2,123 | +€2,123 | |
| Furniture and vehicles | 24 | - | €2,123 | +€2,123 | |
| Financial fixed assets | 28 | €329,500 | €1,729,500 | +€1.4m | +425% |
| Current assets | 29/58 | €162,162 | €202,349 | +€40,187 | +24.8% |
| Amounts receivable after more than one year | 29 | €60,000 | €89,000 | +€29,000 | +48.3% |
| Other amounts receivable | 291 | €60,000 | €89,000 | +€29,000 | +48.3% |
| Amounts receivable within one year | 40/41 | €56,353 | €112,996 | +€56,643 | +101% |
| Trade receivables | 40 | €40,861 | €43,596 | +€2,735 | +6.7% |
| Other amounts receivable | 41 | €15,493 | €69,401 | +€53,908 | +348% |
| Cash at bank and in hand | 54/58 | €808 | €353 | -€456 | -56.4% |
| Deferred charges and accrued income | 490/1 | €45,000 | - | -€45,000 | |
| Total equity and liabilities | 10/49 | €491,662 | €1,933,972 | +€1.4m | +293% |
| Equity | 10/15 | €30,119 | €121,839 | +€91,721 | +305% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €91,000 | +€91,000 | |
| Distributable reserves | 133 | - | €91,000 | +€91,000 | |
| Profit (loss) carried forward | 14 | €25,119 | €25,839 | +€721 | +2.9% |
| Amounts payable | 17/49 | €461,543 | €1,812,133 | +€1.4m | +293% |
| Amounts payable after more than one year | 17 | €26,331 | €1,538,847 | +€1.5m | +5,744% |
| Financial debts | 170/4 | €26,331 | €1,538,847 | +€1.5m | +5,744% |
| Amounts payable within one year | 42/48 | €434,985 | €273,286 | -€161,699 | -37.2% |
| Current portion of amounts payable after more than one year | 42 | €126,197 | €160,483 | +€34,286 | +27.2% |
| Financial debts | 43 | €23,544 | €16,198 | -€7,346 | -31.2% |
| Credit institutions | 430/8 | €23,544 | €16,198 | -€7,346 | -31.2% |
| Trade debts | 44 | €50,502 | €49,177 | -€1,325 | -2.6% |
| Suppliers | 440/4 | €50,502 | €49,177 | -€1,325 | -2.6% |
| Taxes, remuneration and social security | 45 | €63,004 | €47,428 | -€15,576 | -24.7% |
| Taxes | 450/3 | €58,237 | €47,428 | -€10,809 | -18.6% |
| Remuneration and social security | 454/9 | €4,768 | - | -€4,768 | |
| Other amounts payable | 47/48 | €171,738 | - | -€171,738 | |
| Accrued charges and deferred income | 492/3 | €228 | - | -€228 | |
| Non-recurring operating income | 76A | €28,792 | - | -€28,792 | |
| Remuneration, social security and pensions | 62 | €16,402 | €2,000 | -€14,402 | -87.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €211 | €577 | +€366 | +173% |
| Other operating charges | 640/8 | €220 | €1,160 | +€940 | +427% |
| Gross operating margin | 9900 | €18,960 | -€3,361 | -€22,320 | |
| Operating profit (loss) | 9901 | €2,127 | -€7,098 | -€9,224 | |
| Financial income | 75/76B | €12,968 | €120,000 | +€107,032 | +825% |
| Recurring financial income | 75 | €1,782 | €120,000 | +€118,218 | +6,634% |
| Non-recurring financial income | 76B | €11,186 | - | -€11,186 | |
| Financial charges | 65/66B | €33,837 | €12,082 | -€21,755 | -64.3% |
| Recurring financial charges | 65 | €33,837 | €12,082 | -€21,755 | -64.3% |
| Profit (loss) for the period before taxes | 9903 | -€18,742 | €100,821 | +€119,563 | |
| Income taxes | 67/77 | €3,840 | €9,100 | +€5,260 | +137% |
| Profit (loss) for the period | 9904 | -€22,582 | €91,721 | +€114,303 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,582 | €91,721 | +€114,303 |
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 19 October 2026 via checked.be.