GAMA BELGIUM: what changed
GAMA BELGIUM
Largest movements
- Stocks and contracts +€142,531
up €142,531 (+141%), from €101,032 to €243,563
- Cash +€43,800
up €43,800 (+49.8%), from €88,012 to €131,811
mainly Trade debts (+€194,957) and Depreciation (+€37,993)
- Receivables within one year +€35,894
up €35,894 (+19.8%), from €181,220 to €217,113
of which Trade receivables: +€35,894
- Tangible fixed assets -€16,976
down €16,976 (-19.6%), from €86,545 to €69,569
of which Furniture and vehicles: -€17,532
- Trade debts +€194,957
up €194,957 (+639%), from €30,491 to €225,448
- Reserves +€16,198
up €16,198 (+6.2%), from €262,677 to €278,875
of which Distributable reserves: +€16,198
- Debts after one year -€7,528
down €7,528 (-23.7%), from €31,726 to €24,198
- Depreciation +€18,812
up €18,812 (+98.1%), from €19,181 to €37,993
- Gross operating margin +€13,654
up €13,654 (+13.1%), from €103,834 to €117,488
- Financial charges +€1,815
up €1,815 (+107%), from €1,697 to €3,513
- Other operating charges -€1,493
down €1,493 (-51.9%), from €2,875 to €1,383
- Staff costs +€1,408
up €1,408 (+3.1%), from €45,672 to €47,080
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 | €459,618 | €662,648 | +€203,030 | +44.2% |
| Fixed assets | 21/28 | €86,545 | €69,569 | -€16,976 | -19.6% |
| Tangible fixed assets | 22/27 | €86,545 | €69,569 | -€16,976 | -19.6% |
| Plant, machinery and equipment | 23 | €6,075 | €6,632 | +€556 | +9.2% |
| Furniture and vehicles | 24 | €80,470 | €62,937 | -€17,532 | -21.8% |
| Current assets | 29/58 | €373,073 | €593,079 | +€220,006 | +59.0% |
| Stocks and contracts in progress | 3 | €101,032 | €243,563 | +€142,531 | +141% |
| Stocks | 30/36 | €101,032 | €243,563 | +€142,531 | +141% |
| Amounts receivable within one year | 40/41 | €181,220 | €217,113 | +€35,894 | +19.8% |
| Trade receivables | 40 | €163,720 | €199,613 | +€35,894 | +21.9% |
| Other amounts receivable | 41 | €17,500 | €17,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €88,012 | €131,811 | +€43,800 | +49.8% |
| Deferred charges and accrued income | 490/1 | €2,810 | €591 | -€2,218 | -79.0% |
| Total equity and liabilities | 10/49 | €459,618 | €662,648 | +€203,030 | +44.2% |
| Equity | 10/15 | €281,277 | €297,475 | +€16,198 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €262,677 | €278,875 | +€16,198 | +6.2% |
| 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 | €260,817 | €277,015 | +€16,198 | +6.2% |
| Amounts payable | 17/49 | €178,341 | €365,173 | +€186,832 | +105% |
| Amounts payable after more than one year | 17 | €31,726 | €24,198 | -€7,528 | -23.7% |
| Financial debts | 170/4 | €31,726 | €24,198 | -€7,528 | -23.7% |
| Amounts payable within one year | 42/48 | €146,615 | €340,975 | +€194,360 | +133% |
| Current portion of amounts payable after more than one year | 42 | €7,274 | €7,528 | +€254 | +3.5% |
| Financial debts | 43 | €1,925 | - | -€1,925 | |
| Credit institutions | 430/8 | €1,925 | - | -€1,925 | |
| Trade debts | 44 | €30,491 | €225,448 | +€194,957 | +639% |
| Suppliers | 440/4 | €30,491 | €225,448 | +€194,957 | +639% |
| Taxes, remuneration and social security | 45 | €18,117 | €16,534 | -€1,583 | -8.7% |
| Taxes | 450/3 | €13,638 | €13,727 | +€89 | +0.7% |
| Remuneration and social security | 454/9 | €4,479 | €2,807 | -€1,672 | -37.3% |
| Other amounts payable | 47/48 | €88,807 | €91,464 | +€2,657 | +3.0% |
| Remuneration, social security and pensions | 62 | €45,672 | €47,080 | +€1,408 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,181 | €37,993 | +€18,812 | +98.1% |
| Other operating charges | 640/8 | €2,875 | €1,383 | -€1,493 | -51.9% |
| Gross operating margin | 9900 | €103,834 | €117,488 | +€13,654 | +13.1% |
| Operating profit (loss) | 9901 | €36,106 | €31,032 | -€5,073 | -14.1% |
| Financial income | 75/76B | €148 | €90 | -€58 | -39.3% |
| Recurring financial income | 75 | €148 | €90 | -€58 | -39.3% |
| Financial charges | 65/66B | €1,697 | €3,513 | +€1,815 | +107% |
| Recurring financial charges | 65 | €1,697 | €3,513 | +€1,815 | +107% |
| Profit (loss) for the period before taxes | 9903 | €34,556 | €27,610 | -€6,947 | -20.1% |
| Income taxes | 67/77 | €12,634 | €11,412 | -€1,223 | -9.7% |
| Profit (loss) for the period | 9904 | €21,922 | €16,198 | -€5,724 | -26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,922 | €16,198 | -€5,724 | -26.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.