GMT CONSULT: 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 CONSULT
Largest movements
- Receivables within one year +€19,424
up €19,424 (+95.2%), from €20,398 to €39,823
of which Trade receivables: +€19,487
- Cash +€7,215
up €7,215 (+3.2%), from €228,034 to €235,250
mainly Net result for the year (+€67,290) and Depreciation (+€6,721)
- Tangible fixed assets -€6,189
down €6,189 (-22.9%), from €27,074 to €20,885
of which Furniture and vehicles: -€5,366
- Reserves +€67,290
up €67,290 (+32.8%), from €204,926 to €272,215
- Other debts -€49,824
down €49,824 (-94.3%), from €52,848 to €3,024
- Tax, wage and social debts +€3,554
up €3,554 (+30.7%), from €11,573 to €15,127
of which Taxes: +€3,554
- Gross operating margin -€18,952
down €18,952 (-15.6%), from €121,171 to €102,219
- Taxes -€5,825
down €5,825 (-17.9%), from €32,540 to €26,715
- Depreciation -€2,230
down €2,230 (-24.9%), from €8,951 to €6,721
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 | €276,858 | €298,732 | +€21,875 | +7.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €27,274 | €21,085 | -€6,189 | -22.7% |
| Tangible fixed assets | 22/27 | €27,074 | €20,885 | -€6,189 | -22.9% |
| Furniture and vehicles | 24 | €22,381 | €17,016 | -€5,366 | -24.0% |
| Other tangible fixed assets | 26 | €4,693 | €3,869 | -€823 | -17.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €249,584 | €277,647 | +€28,063 | +11.2% |
| Amounts receivable within one year | 40/41 | €20,398 | €39,823 | +€19,424 | +95.2% |
| Trade receivables | 40 | €20,315 | €39,802 | +€19,487 | +95.9% |
| Other amounts receivable | 41 | €83 | €21 | -€63 | -75.1% |
| Cash at bank and in hand | 54/58 | €228,034 | €235,250 | +€7,215 | +3.2% |
| Deferred charges and accrued income | 490/1 | €1,151 | €2,575 | +€1,424 | +124% |
| Total equity and liabilities | 10/49 | €276,858 | €298,732 | +€21,875 | +7.9% |
| Equity | 10/15 | €211,126 | €278,415 | +€67,290 | +31.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €204,926 | €272,215 | +€67,290 | +32.8% |
| Distributable reserves | 133 | €204,926 | €272,215 | +€67,290 | +32.8% |
| Amounts payable | 17/49 | €65,732 | €20,317 | -€45,415 | -69.1% |
| Amounts payable within one year | 42/48 | €65,732 | €20,317 | -€45,415 | -69.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,311 | €2,166 | +€855 | +65.2% |
| Suppliers | 440/4 | €1,311 | €2,166 | +€855 | +65.2% |
| Taxes, remuneration and social security | 45 | €11,573 | €15,127 | +€3,554 | +30.7% |
| Taxes | 450/3 | €11,573 | €15,127 | +€3,554 | +30.7% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €52,848 | €3,024 | -€49,824 | -94.3% |
| Remuneration, social security and pensions | 62 | €3,201 | €3,201 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,951 | €6,721 | -€2,230 | -24.9% |
| Other operating charges | 640/8 | €1,117 | €988 | -€128 | -11.5% |
| Gross operating margin | 9900 | €121,171 | €102,219 | -€18,952 | -15.6% |
| Operating profit (loss) | 9901 | €107,902 | €91,308 | -€16,594 | -15.4% |
| Financial income | 75/76B | €3,329 | €3,248 | -€81 | -2.4% |
| Recurring financial income | 75 | €3,329 | €3,248 | -€81 | -2.4% |
| Financial charges | 65/66B | €445 | €551 | +€106 | +23.9% |
| Recurring financial charges | 65 | €445 | €551 | +€106 | +23.9% |
| Profit (loss) for the period before taxes | 9903 | €110,786 | €94,005 | -€16,781 | -15.1% |
| Income taxes | 67/77 | €32,540 | €26,715 | -€5,825 | -17.9% |
| Profit (loss) for the period | 9904 | €78,246 | €67,290 | -€10,956 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,246 | €67,290 | -€10,956 | -14.0% |
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 23 October 2026 via checked.be.