Gamaco: what changed
Two fiscal 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.
Gamaco
Largest movements
- Cash -€606,079
down €606,079 (-56.7%), from €1.1m to €462,876
mainly Contributions, distributions and other (-€2.9m) and Stocks and contracts (-€537,231)
- Stocks and contracts +€537,231
up €537,231 (+47.4%), from €1.1m to €1.7m
- Receivables within one year +€477,759
up €477,759 (+16.7%), from €2.9m to €3.3m
of which Trade receivables: +€409,253
- Current investments -€417,381
down €417,381 (-44.6%), from €936,270 to €518,889
- Trade debts +€293,914
up €293,914 (+75.1%), from €391,494 to €685,408
- Reserves -€290,224
down €290,224 (-6.5%), from €4.4m to €4.1m
of which Distributable reserves: -€290,224
- Financial income +€566,728
up €566,728 (+2527.4%), from €22,423 to €589,152
- Staff costs +€196,817
up €196,817 (+55.3%), from €355,830 to €552,647
- Financial charges +€93,221
up €93,221 (+1681.5%), from €5,544 to €98,765
- Gross operating margin -€63,464
down €63,464 (-1.8%), from €3.5m to €3.4m
- Taxes -€42,534
down €42,534 (-5.5%), from €772,820 to €730,285
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 | €6,206,512 | €6,228,505 | +€21,993 | +0.4% |
| Fixed assets | 21/28 | €159,977 | €189,274 | +€29,297 | +18.3% |
| Tangible fixed assets | 22/27 | €159,977 | €189,274 | +€29,297 | +18.3% |
| Land and buildings | 22 | €5,360 | €4,758 | -€602 | -11.2% |
| Plant, machinery and equipment | 23 | €48,628 | €40,825 | -€7,803 | -16.0% |
| Furniture and vehicles | 24 | €105,988 | €143,690 | +€37,702 | +35.6% |
| Current assets | 29/58 | €6,046,536 | €6,039,232 | -€7,304 | -0.1% |
| Amounts receivable after more than one year | 29 | €20,000 | €0 | -€20,000 | -100.0% |
| Trade receivables | 290 | €20,000 | €0 | -€20,000 | -100.0% |
| Stocks and contracts in progress | 3 | €1,134,185 | €1,671,416 | +€537,231 | +47.4% |
| Stocks | 30/36 | €1,134,185 | €1,671,416 | +€537,231 | +47.4% |
| Amounts receivable within one year | 40/41 | €2,857,564 | €3,335,323 | +€477,759 | +16.7% |
| Trade receivables | 40 | €2,132,798 | €2,542,051 | +€409,253 | +19.2% |
| Other amounts receivable | 41 | €724,766 | €793,272 | +€68,506 | +9.5% |
| Current investments | 50/53 | €936,270 | €518,889 | -€417,381 | -44.6% |
| Cash at bank and in hand | 54/58 | €1,068,956 | €462,876 | -€606,079 | -56.7% |
| Deferred charges and accrued income | 490/1 | €29,560 | €50,727 | +€21,167 | +71.6% |
| Total equity and liabilities | 10/49 | €6,206,512 | €6,228,505 | +€21,993 | +0.4% |
| Equity | 10/15 | €4,453,300 | €4,163,076 | -€290,224 | -6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,434,700 | €4,144,476 | -€290,224 | -6.5% |
| 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 | €4,432,840 | €4,142,616 | -€290,224 | -6.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,753,212 | €2,065,429 | +€312,217 | +17.8% |
| Amounts payable within one year | 42/48 | €1,753,212 | €2,065,429 | +€312,217 | +17.8% |
| Financial debts | 43 | €1,171 | €1,567 | +€396 | +33.9% |
| Credit institutions | 430/8 | €1,171 | €1,567 | +€396 | +33.9% |
| Trade debts | 44 | €391,494 | €685,408 | +€293,914 | +75.1% |
| Suppliers | 440/4 | €391,494 | €685,408 | +€293,914 | +75.1% |
| Taxes, remuneration and social security | 45 | €55,914 | €73,640 | +€17,726 | +31.7% |
| Taxes | 450/3 | €2,752 | €0 | -€2,752 | -100.0% |
| Remuneration and social security | 454/9 | €53,162 | €73,640 | +€20,477 | +38.5% |
| Other amounts payable | 47/48 | €1,304,634 | €1,304,815 | +€181 | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €355,830 | €552,647 | +€196,817 | +55.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,360 | €53,302 | +€12,941 | +32.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €396 | +€396 | |
| Other operating charges | 640/8 | €5,118 | €4,917 | -€202 | -3.9% |
| Gross operating margin | 9900 | €3,474,799 | €3,411,335 | -€63,464 | -1.8% |
| Operating profit (loss) | 9901 | €3,073,490 | €2,800,073 | -€273,417 | -8.9% |
| Financial income | 75/76B | €22,423 | €589,152 | +€566,728 | +2527.4% |
| Recurring financial income | 75 | €22,423 | €589,152 | +€566,728 | +2527.4% |
| Financial charges | 65/66B | €5,544 | €98,765 | +€93,221 | +1681.5% |
| Recurring financial charges | 65 | €5,544 | €98,765 | +€93,221 | +1681.5% |
| Profit (loss) for the period before taxes | 9903 | €3,090,370 | €3,290,460 | +€200,090 | +6.5% |
| Income taxes | 67/77 | €772,820 | €730,285 | -€42,534 | -5.5% |
| Profit (loss) for the period | 9904 | €2,317,550 | €2,560,175 | +€242,625 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,317,550 | €2,560,175 | +€242,625 | +10.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.