GTMR: 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.
GTMR
Largest movements
- Cash +€16,127
up €16,127 (+475.4%), from €3,392 to €19,520
mainly Trade debts (+€14,565) and Net result for the year (+€12,516)
- Receivables within one year +€13,798
up €13,798 (+23.6%), from €58,525 to €72,323
of which Trade receivables: +€17,081
- Intangible fixed assets +€1,928
new in 2025: €1,928
- Tangible fixed assets -€979
down €979 (-22.3%), from €4,396 to €3,417
- Trade debts +€14,565
up €14,565 (+32.9%), from €44,315 to €58,880
of which Suppliers: +€22,436
- Profit (loss) carried forward +€12,516
up €12,516 (+254.8%), from €4,913 to €17,430
- Tax, wage and social debts +€4,531
new in 2025: €4,531
- Gross operating margin -€15,758
down €15,758 (-40.1%), from €39,258 to €23,500
- Write-downs -€6,533
down €6,533, from €3,515 to -€3,018
- Taxes -€3,340
down €3,340 (-42.4%), from €7,871 to €4,531
- Depreciation +€853
up €853 (+171.0%), from €499 to €1,352
- Financial charges -€506
down €506 (-27.3%), from €1,855 to €1,348
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 | €66,568 | €97,441 | +€30,874 | +46.4% |
| Fixed assets | 21/28 | €4,650 | €5,599 | +€949 | +20.4% |
| Intangible fixed assets | 21 | - | €1,928 | +€1,928 | |
| Tangible fixed assets | 22/27 | €4,396 | €3,417 | -€979 | -22.3% |
| Furniture and vehicles | 24 | €4,396 | €3,417 | -€979 | -22.3% |
| Financial fixed assets | 28 | €254 | €254 | = | 0.0% |
| Current assets | 29/58 | €61,918 | €91,843 | +€29,925 | +48.3% |
| Amounts receivable within one year | 40/41 | €58,525 | €72,323 | +€13,798 | +23.6% |
| Trade receivables | 40 | €50,767 | €67,848 | +€17,081 | +33.6% |
| Other amounts receivable | 41 | €7,758 | €4,475 | -€3,283 | -42.3% |
| Cash at bank and in hand | 54/58 | €3,392 | €19,520 | +€16,127 | +475.4% |
| Total equity and liabilities | 10/49 | €66,568 | €97,441 | +€30,874 | +46.4% |
| Equity | 10/15 | €21,513 | €34,030 | +€12,516 | +58.2% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Reserves | 13 | €400 | €400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €400 | €400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €400 | €400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,913 | €17,430 | +€12,516 | +254.8% |
| Amounts payable | 17/49 | €45,055 | €63,412 | +€18,357 | +40.7% |
| Amounts payable within one year | 42/48 | €45,055 | €63,412 | +€18,357 | +40.7% |
| Financial debts | 43 | €739 | - | -€739 | |
| Credit institutions | 430/8 | €739 | - | -€739 | |
| Trade debts | 44 | €44,315 | €58,880 | +€14,565 | +32.9% |
| Suppliers | 440/4 | €36,444 | €58,880 | +€22,436 | +61.6% |
| Bills of exchange payable | 441 | €7,871 | - | -€7,871 | |
| Taxes, remuneration and social security | 45 | - | €4,531 | +€4,531 | |
| Taxes | 450/3 | - | €4,531 | +€4,531 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €499 | €1,352 | +€853 | +171.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,515 | -€3,018 | -€6,533 | |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Non-recurring operating charges | 66A | €2,887 | €6,383 | +€3,496 | +121.1% |
| Gross operating margin | 9900 | €39,258 | €23,500 | -€15,758 | -40.1% |
| Operating profit (loss) | 9901 | €31,973 | €18,396 | -€13,577 | -42.5% |
| Financial charges | 65/66B | €1,855 | €1,348 | -€506 | -27.3% |
| Recurring financial charges | 65 | €1,855 | €1,348 | -€506 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | €30,118 | €17,048 | -€13,071 | -43.4% |
| Income taxes | 67/77 | €7,871 | €4,531 | -€3,340 | -42.4% |
| Profit (loss) for the period | 9904 | €22,247 | €12,516 | -€9,731 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,247 | €12,516 | -€9,731 | -43.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.