GNM: 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.
GNM
Largest movements
- Cash +€2,557
up €2,557 (+31.0%), from €8,236 to €10,793
mainly Net result for the year (+€1,753) and Receivables within one year (+€1,727)
- Receivables within one year -€1,727
down €1,727 (-51.8%), from €3,334 to €1,607
of which Trade receivables: -€2,582
- Deferred charges and accrued income -€140
no longer reported in 2026 (was €140)
- Profit (loss) carried forward +€1,753
up €1,753 (+12.6%), from -€13,914 to -€12,161
- Trade debts -€1,327
down €1,327 (-54.5%), from €2,436 to €1,109
- Other debts +€186
up €186 (+1.7%), from €10,938 to €11,123
- Gross operating margin +€3,496
up €3,496 (+234%), from €1,492 to €4,988
- Financial charges +€2,021
up €2,021 (+432%), from €468 to €2,489
- Other operating charges +€172
up €172 (+30.8%), from €559 to €731
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,710 | €12,400 | +€689 | +5.9% |
| Current assets | 29/58 | €11,710 | €12,400 | +€689 | +5.9% |
| Amounts receivable within one year | 40/41 | €3,334 | €1,607 | -€1,727 | -51.8% |
| Trade receivables | 40 | €2,582 | - | -€2,582 | |
| Other amounts receivable | 41 | €752 | €1,607 | +€855 | +114% |
| Cash at bank and in hand | 54/58 | €8,236 | €10,793 | +€2,557 | +31.0% |
| Deferred charges and accrued income | 490/1 | €140 | - | -€140 | |
| Total equity and liabilities | 10/49 | €11,710 | €12,400 | +€689 | +5.9% |
| Equity | 10/15 | -€1,663 | €90 | +€1,753 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6,050 | €6,050 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €4,190 | €4,190 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,914 | -€12,161 | +€1,753 | +12.6% |
| Amounts payable | 17/49 | €13,374 | €12,310 | -€1,063 | -8.0% |
| Amounts payable within one year | 42/48 | €13,374 | €12,248 | -€1,125 | -8.4% |
| Trade debts | 44 | €2,436 | €1,109 | -€1,327 | -54.5% |
| Suppliers | 440/4 | €2,436 | €1,109 | -€1,327 | -54.5% |
| Taxes, remuneration and social security | 45 | - | €16 | +€16 | |
| Taxes | 450/3 | - | €16 | +€16 | |
| Other amounts payable | 47/48 | €10,938 | €11,123 | +€186 | +1.7% |
| Accrued charges and deferred income | 492/3 | - | €62 | +€62 | |
| Other operating charges | 640/8 | €559 | €731 | +€172 | +30.8% |
| Gross operating margin | 9900 | €1,492 | €4,988 | +€3,496 | +234% |
| Operating profit (loss) | 9901 | €934 | €4,257 | +€3,323 | +356% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €468 | €2,489 | +€2,021 | +432% |
| Recurring financial charges | 65 | €468 | €2,489 | +€2,021 | +432% |
| Profit (loss) for the period before taxes | 9903 | €466 | €1,769 | +€1,302 | +279% |
| Income taxes | 67/77 | - | €16 | +€16 | |
| Profit (loss) for the period | 9904 | €466 | €1,753 | +€1,287 | +276% |
| Profit (loss) for the period to be appropriated | 9905 | €466 | €1,753 | +€1,287 | +276% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.