GAMANICO: 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.
GAMANICO
Largest movements
- Receivables after one year -€160,000
no longer reported in 2025 (was €160,000)
- Receivables within one year -€119,282
down €119,282 (-54.9%), from €217,434 to €98,151
- Cash +€82,032
up €82,032 (+141%), from €58,295 to €140,327
mainly Net result for the year (+€235,034) and Receivables after one year (+€160,000)
- Deferred charges and accrued income +€51,708
up €51,708 (+37.7%), from €137,260 to €188,968
- Tangible fixed assets -€13,862
down €13,862 (-4.0%), from €346,968 to €333,106
of which Land and buildings: -€17,348
- Reserves -€150,466
down €150,466 (-17.7%), from €851,000 to €700,534
- Debts after one year -€18,784
no longer reported in 2025 (was €18,784)
- Gross operating margin +€80,662
up €80,662 (+28.6%), from €282,040 to €362,701
- Taxes +€24,842
up €24,842 (+31.2%), from €79,735 to €104,577
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.
Derived cash bridge
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 | €922,275 | €762,597 | -€159,678 | -17.3% |
| Fixed assets | 21/28 | €346,968 | €333,106 | -€13,862 | -4.0% |
| Tangible fixed assets | 22/27 | €346,968 | €333,106 | -€13,862 | -4.0% |
| Land and buildings | 22 | €325,936 | €308,589 | -€17,348 | -5.3% |
| Plant, machinery and equipment | 23 | €11,513 | €18,874 | +€7,362 | +63.9% |
| Furniture and vehicles | 24 | €9,519 | €3,943 | -€5,576 | -58.6% |
| Other tangible fixed assets | 26 | - | €1,700 | +€1,700 | |
| Current assets | 29/58 | €575,308 | €429,491 | -€145,816 | -25.3% |
| Amounts receivable after more than one year | 29 | €160,000 | - | -€160,000 | |
| Other amounts receivable | 291 | €160,000 | - | -€160,000 | |
| Amounts receivable within one year | 40/41 | €217,434 | €98,151 | -€119,282 | -54.9% |
| Other amounts receivable | 41 | €217,434 | €98,151 | -€119,282 | -54.9% |
| Current investments | 50/53 | €2,319 | €2,045 | -€274 | -11.8% |
| Cash at bank and in hand | 54/58 | €58,295 | €140,327 | +€82,032 | +141% |
| Deferred charges and accrued income | 490/1 | €137,260 | €188,968 | +€51,708 | +37.7% |
| Total equity and liabilities | 10/49 | €922,275 | €762,597 | -€159,678 | -17.3% |
| Equity | 10/15 | €851,150 | €700,684 | -€150,466 | -17.7% |
| Reserves | 13 | €851,000 | €700,534 | -€150,466 | -17.7% |
| Distributable reserves | 133 | €851,000 | €700,534 | -€150,466 | -17.7% |
| Profit (loss) carried forward | 14 | €150 | €150 | = | 0.0% |
| Amounts payable | 17/49 | €71,126 | €61,914 | -€9,212 | -13.0% |
| Amounts payable after more than one year | 17 | €18,784 | - | -€18,784 | |
| Financial debts | 170/4 | €18,784 | - | -€18,784 | |
| Amounts payable within one year | 42/48 | €50,944 | €60,330 | +€9,386 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €28,550 | €28,784 | +€234 | +0.8% |
| Trade debts | 44 | €1,269 | €5,228 | +€3,959 | +312% |
| Suppliers | 440/4 | €1,269 | €5,228 | +€3,959 | +312% |
| Taxes, remuneration and social security | 45 | €21,125 | €26,318 | +€5,193 | +24.6% |
| Taxes | 450/3 | €21,125 | €26,318 | +€5,193 | +24.6% |
| Accrued charges and deferred income | 492/3 | €1,397 | €1,583 | +€186 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,739 | €27,431 | +€1,693 | +6.6% |
| Other operating charges | 640/8 | €3,342 | €3,636 | +€294 | +8.8% |
| Gross operating margin | 9900 | €282,040 | €362,701 | +€80,662 | +28.6% |
| Operating profit (loss) | 9901 | €252,959 | €331,634 | +€78,675 | +31.1% |
| Financial income | 75/76B | €12,572 | €11,257 | -€1,315 | -10.5% |
| Recurring financial income | 75 | €12,572 | €11,257 | -€1,315 | -10.5% |
| Financial charges | 65/66B | €3,578 | €3,280 | -€298 | -8.3% |
| Recurring financial charges | 65 | €3,578 | €3,280 | -€298 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €261,952 | €339,611 | +€77,658 | +29.6% |
| Income taxes | 67/77 | €79,735 | €104,577 | +€24,842 | +31.2% |
| Profit (loss) for the period | 9904 | €182,218 | €235,034 | +€52,816 | +29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €182,218 | €235,034 | +€52,816 | +29.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.