GT&MT: what changed
GT&MT
Largest movements
- Cash -€153,503
down €153,503 (-69.2%), from €221,878 to €68,374
mainly Debts after one year (-€90,000) and Current portion of long-term debt (-€89,320)
- Debts after one year -€90,000
down €90,000 (-50.0%), from €180,000 to €90,000
- Current portion of long-term debt -€89,320
no longer reported in 2025 (was €89,320)
- Reserves +€54,998
up €54,998 (+8.0%), from €687,820 to €742,818
- Tax, wage and social debts -€40,400
down €40,400 (-84.9%), from €47,591 to €7,191
- Other debts +€14,707
up €14,707 (+25.6%), from €57,465 to €72,173
- Gross operating margin -€48,726
down €48,726 (-33.6%), from €145,078 to €96,353
- Financial income -€29,449
down €29,449 (-97.6%), from €30,158 to €709
- Taxes -€14,029
down €14,029 (-34.2%), from €40,999 to €26,970
- Financial charges -€3,061
down €3,061 (-18.7%), from €16,363 to €13,302
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,080,905 | €925,339 | -€155,566 | -14.4% |
| Fixed assets | 21/28 | €853,789 | €853,789 | = | 0.0% |
| Financial fixed assets | 28 | €853,789 | €853,789 | = | 0.0% |
| Current assets | 29/58 | €227,116 | €71,549 | -€155,566 | -68.5% |
| Amounts receivable within one year | 40/41 | €5,238 | €3,175 | -€2,063 | -39.4% |
| Trade receivables | 40 | €5,095 | - | -€5,095 | |
| Other amounts receivable | 41 | €143 | €3,175 | +€3,032 | +2,120% |
| Cash at bank and in hand | 54/58 | €221,878 | €68,374 | -€153,503 | -69.2% |
| Total equity and liabilities | 10/49 | €1,080,905 | €925,339 | -€155,566 | -14.4% |
| Equity | 10/15 | €700,220 | €755,218 | +€54,998 | +7.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €687,820 | €742,818 | +€54,998 | +8.0% |
| Distributable reserves | 133 | €687,820 | €742,818 | +€54,998 | +8.0% |
| Amounts payable | 17/49 | €380,685 | €170,120 | -€210,564 | -55.3% |
| Amounts payable after more than one year | 17 | €180,000 | €90,000 | -€90,000 | -50.0% |
| Financial debts | 170/4 | €180,000 | €90,000 | -€90,000 | -50.0% |
| Amounts payable within one year | 42/48 | €200,685 | €80,120 | -€120,564 | -60.1% |
| Current portion of amounts payable after more than one year | 42 | €89,320 | - | -€89,320 | |
| Trade debts | 44 | €6,309 | €757 | -€5,552 | -88.0% |
| Suppliers | 440/4 | €6,309 | €757 | -€5,552 | -88.0% |
| Taxes, remuneration and social security | 45 | €47,591 | €7,191 | -€40,400 | -84.9% |
| Taxes | 450/3 | €47,591 | €7,191 | -€40,400 | -84.9% |
| Other amounts payable | 47/48 | €57,465 | €72,173 | +€14,707 | +25.6% |
| Other operating charges | 640/8 | €115 | €126 | +€11 | +9.6% |
| Gross operating margin | 9900 | €145,078 | €96,353 | -€48,726 | -33.6% |
| Operating profit (loss) | 9901 | €144,963 | €96,227 | -€48,737 | -33.6% |
| Financial income | 75/76B | €30,158 | €709 | -€29,449 | -97.6% |
| Recurring financial income | 75 | €30,158 | €709 | -€29,449 | -97.6% |
| Financial charges | 65/66B | €16,363 | €13,302 | -€3,061 | -18.7% |
| Recurring financial charges | 65 | €16,363 | €13,302 | -€3,061 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €158,759 | €83,634 | -€75,125 | -47.3% |
| Income taxes | 67/77 | €40,999 | €26,970 | -€14,029 | -34.2% |
| Profit (loss) for the period | 9904 | €117,760 | €56,664 | -€61,096 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €117,760 | €56,664 | -€61,096 | -51.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.