GMT: 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
Largest movements
- Tangible fixed assets -€38,928
down €38,928 (-66.4%), from €58,587 to €19,659
of which Furniture and vehicles: -€32,901
- Receivables within one year -€4,599
down €4,599 (-87.5%), from €5,253 to €655
of which Other amounts receivable: -€2,784
- Cash +€968
up €968 (+21.5%), from €4,492 to €5,459
- Debts after one year -€28,740
down €28,740 (-86.7%), from €33,156 to €4,416
- Current portion of long-term debt -€15,255
down €15,255 (-70.0%), from €21,781 to €6,526
- Profit (loss) carried forward +€6,035
up €6,035 (+20.6%), from -€29,362 to -€23,328
- Reserves -€4,000
down €4,000 (-13.9%), from €28,829 to €24,829
- Tax, wage and social debts -€3,726
down €3,726 (-89.7%), from €4,153 to €427
- Gross operating margin +€21,435
up €21,435 (+182%), from €11,797 to €33,233
- Depreciation -€2,631
down €2,631 (-12.3%), from €21,417 to €18,786
- Financial charges -€865
down €865 (-49.4%), from €1,751 to €886
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €69,147 | €26,395 | -€42,752 | -61.8% |
| Fixed assets | 21/28 | €58,587 | €19,659 | -€38,928 | -66.4% |
| Tangible fixed assets | 22/27 | €58,587 | €19,659 | -€38,928 | -66.4% |
| Plant, machinery and equipment | 23 | €345 | €69 | -€276 | -80.1% |
| Furniture and vehicles | 24 | €33,682 | €782 | -€32,901 | -97.7% |
| Other tangible fixed assets | 26 | €24,560 | €18,809 | -€5,751 | -23.4% |
| Current assets | 29/58 | €10,560 | €6,736 | -€3,824 | -36.2% |
| Amounts receivable within one year | 40/41 | €5,253 | €655 | -€4,599 | -87.5% |
| Trade receivables | 40 | €1,815 | - | -€1,815 | |
| Other amounts receivable | 41 | €3,438 | €655 | -€2,784 | -81.0% |
| Cash at bank and in hand | 54/58 | €4,492 | €5,459 | +€968 | +21.5% |
| Deferred charges and accrued income | 490/1 | €815 | €622 | -€193 | -23.7% |
| Total equity and liabilities | 10/49 | €69,147 | €26,395 | -€42,752 | -61.8% |
| Equity | 10/15 | €5,666 | €7,701 | +€2,035 | +35.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €28,829 | €24,829 | -€4,000 | -13.9% |
| Distributable reserves | 133 | €28,829 | €24,829 | -€4,000 | -13.9% |
| Profit (loss) carried forward | 14 | -€29,362 | -€23,328 | +€6,035 | +20.6% |
| Amounts payable | 17/49 | €63,481 | €18,695 | -€44,786 | -70.6% |
| Amounts payable after more than one year | 17 | €33,156 | €4,416 | -€28,740 | -86.7% |
| Financial debts | 170/4 | €33,156 | €4,416 | -€28,740 | -86.7% |
| Amounts payable within one year | 42/48 | €30,325 | €14,279 | -€16,046 | -52.9% |
| Current portion of amounts payable after more than one year | 42 | €21,781 | €6,526 | -€15,255 | -70.0% |
| Trade debts | 44 | €911 | €1,073 | +€163 | +17.8% |
| Suppliers | 440/4 | €911 | €1,073 | +€163 | +17.8% |
| Taxes, remuneration and social security | 45 | €4,153 | €427 | -€3,726 | -89.7% |
| Taxes | 450/3 | €4,153 | €427 | -€3,726 | -89.7% |
| Other amounts payable | 47/48 | €3,480 | €6,252 | +€2,772 | +79.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,417 | €18,786 | -€2,631 | -12.3% |
| Other operating charges | 640/8 | €422 | €400 | -€23 | -5.4% |
| Gross operating margin | 9900 | €11,797 | €33,233 | +€21,435 | +182% |
| Operating profit (loss) | 9901 | -€10,042 | €14,046 | +€24,089 | |
| Financial charges | 65/66B | €1,751 | €886 | -€865 | -49.4% |
| Recurring financial charges | 65 | €1,751 | €886 | -€865 | -49.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,793 | €13,161 | +€24,954 | |
| Income taxes | 67/77 | €261 | €227 | -€34 | -13.1% |
| Profit (loss) for the period | 9904 | -€12,055 | €12,934 | +€24,989 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,055 | €12,934 | +€24,989 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.