GMVICS: what changed
Two fiscal 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.
GMVICS
Largest movements
- Receivables within one year -€11,494
down €11,494 (-90.9%), from €12,639 to €1,145
of which Trade receivables: -€11,449
- Cash +€8,249
up €8,249 (+217.4%), from €3,794 to €12,043
mainly Net result for the year (+€23,531) and Receivables within one year (+€11,494)
- Profit (loss) carried forward +€93,875
no longer reported in 2025 (was -€93,875)
- Reserves -€70,344
down €70,344 (-83.2%), from €84,520 to €14,176
- Other debts -€27,977
down €27,977 (-99.5%), from €28,113 to €136
- Trade debts +€615
up €615 (+11.0%), from €5,585 to €6,200
- Tax, wage and social debts +€514
up €514 (+43.6%), from €1,178 to €1,692
- Gross operating margin +€26,182
up €26,182 (+1920.2%), from €1,364 to €27,546
- Taxes +€1,417
up €1,417 (+556.2%), from €255 to €1,672
- Other operating charges -€599
down €599 (-34.4%), from €1,743 to €1,144
- Financial charges +€508
up €508 (+104.2%), from €488 to €996
- Depreciation -€344
down €344 (-62.9%), from €547 to €203
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,521 | €22,204 | -€3,317 | -13.0% |
| Fixed assets | 21/28 | €1,612 | €1,409 | -€203 | -12.6% |
| Tangible fixed assets | 22/27 | €1,612 | €1,409 | -€203 | -12.6% |
| Furniture and vehicles | 24 | €1,612 | €1,409 | -€203 | -12.6% |
| Current assets | 29/58 | €23,909 | €20,795 | -€3,114 | -13.0% |
| Amounts receivable within one year | 40/41 | €12,639 | €1,145 | -€11,494 | -90.9% |
| Trade receivables | 40 | €12,594 | €1,145 | -€11,449 | -90.9% |
| Other amounts receivable | 41 | €45 | - | -€45 | |
| Cash at bank and in hand | 54/58 | €3,794 | €12,043 | +€8,249 | +217.4% |
| Deferred charges and accrued income | 490/1 | €7,476 | €7,607 | +€131 | +1.8% |
| Total equity and liabilities | 10/49 | €25,521 | €22,204 | -€3,317 | -13.0% |
| Equity | 10/15 | -€9,355 | €14,176 | +€23,531 | |
| Reserves | 13 | €84,520 | €14,176 | -€70,344 | -83.2% |
| Distributable reserves | 133 | €84,520 | €14,176 | -€70,344 | -83.2% |
| Profit (loss) carried forward | 14 | -€93,875 | - | +€93,875 | |
| Amounts payable | 17/49 | €34,876 | €8,028 | -€26,848 | -77.0% |
| Amounts payable within one year | 42/48 | €34,876 | €8,028 | -€26,848 | -77.0% |
| Trade debts | 44 | €5,585 | €6,200 | +€615 | +11.0% |
| Suppliers | 440/4 | €5,585 | €6,200 | +€615 | +11.0% |
| Taxes, remuneration and social security | 45 | €1,178 | €1,692 | +€514 | +43.6% |
| Taxes | 450/3 | €1,178 | €1,692 | +€514 | +43.6% |
| Other amounts payable | 47/48 | €28,113 | €136 | -€27,977 | -99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €547 | €203 | -€344 | -62.9% |
| Other operating charges | 640/8 | €1,743 | €1,144 | -€599 | -34.4% |
| Gross operating margin | 9900 | €1,364 | €27,546 | +€26,182 | +1920.2% |
| Operating profit (loss) | 9901 | -€926 | €26,200 | +€27,126 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €488 | €996 | +€508 | +104.2% |
| Recurring financial charges | 65 | €488 | €996 | +€508 | +104.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,414 | €25,203 | +€26,617 | |
| Income taxes | 67/77 | €255 | €1,672 | +€1,417 | +556.2% |
| Profit (loss) for the period | 9904 | -€1,669 | €23,531 | +€25,200 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,669 | €23,531 | +€25,200 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.