GAMCO: 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.
GAMCO
Largest movements
- Cash +€11,200
up €11,200 (+119%), from €9,417 to €20,617
mainly Net result for the year (+€49,852) and Tax, wage and social debts (+€20,745)
- Receivables within one year +€6,559
up €6,559 (+18.8%), from €34,798 to €41,356
of which Trade receivables: +€5,000
- Debts after one year -€54,989
down €54,989 (-19.1%), from €287,785 to €232,796
- Profit (loss) carried forward +€49,852
up €49,852 (+27.9%), from €178,847 to €228,700
- Tax, wage and social debts +€20,745
up €20,745 (+77.2%), from €26,884 to €47,629
of which Taxes: +€18,745
- Gross operating margin -€16,039
down €16,039 (-17.0%), from €94,556 to €78,516
- Taxes -€2,985
down €2,985 (-13.8%), from €21,612 to €18,627
- Depreciation +€1,994
up €1,994 (+65.2%), from €3,058 to €5,052
- Financial charges -€1,045
down €1,045 (-18.5%), from €5,645 to €4,600
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 | €608,832 | €619,372 | +€10,540 | +1.7% |
| Formation expenses | 20 | €2,065 | €1,190 | -€875 | -42.4% |
| Fixed assets | 21/28 | €560,206 | €556,029 | -€4,177 | -0.7% |
| Tangible fixed assets | 22/27 | €10,206 | €6,029 | -€4,177 | -40.9% |
| Furniture and vehicles | 24 | €10,206 | €6,029 | -€4,177 | -40.9% |
| Financial fixed assets | 28 | €550,000 | €550,000 | = | 0.0% |
| Current assets | 29/58 | €46,561 | €62,153 | +€15,592 | +33.5% |
| Amounts receivable within one year | 40/41 | €34,798 | €41,356 | +€6,559 | +18.8% |
| Trade receivables | 40 | €20,812 | €25,812 | +€5,000 | +24.0% |
| Other amounts receivable | 41 | €13,986 | €15,544 | +€1,559 | +11.1% |
| Cash at bank and in hand | 54/58 | €9,417 | €20,617 | +€11,200 | +119% |
| Deferred charges and accrued income | 490/1 | €2,346 | €179 | -€2,167 | -92.4% |
| Total equity and liabilities | 10/49 | €608,832 | €619,372 | +€10,540 | +1.7% |
| Equity | 10/15 | €203,847 | €253,700 | +€49,852 | +24.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €178,847 | €228,700 | +€49,852 | +27.9% |
| Amounts payable | 17/49 | €404,985 | €365,673 | -€39,312 | -9.7% |
| Amounts payable after more than one year | 17 | €287,785 | €232,796 | -€54,989 | -19.1% |
| Financial debts | 170/4 | €287,785 | €232,796 | -€54,989 | -19.1% |
| Amounts payable within one year | 42/48 | €117,200 | €132,877 | +€15,677 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €53,869 | €54,989 | +€1,120 | +2.1% |
| Trade debts | 44 | €2,879 | €77 | -€2,802 | -97.3% |
| Suppliers | 440/4 | €2,879 | €77 | -€2,802 | -97.3% |
| Taxes, remuneration and social security | 45 | €26,884 | €47,629 | +€20,745 | +77.2% |
| Taxes | 450/3 | €26,884 | €45,629 | +€18,745 | +69.7% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €33,568 | €30,181 | -€3,387 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,058 | €5,052 | +€1,994 | +65.2% |
| Other operating charges | 640/8 | €207 | €386 | +€179 | +86.8% |
| Gross operating margin | 9900 | €94,556 | €78,516 | -€16,039 | -17.0% |
| Operating profit (loss) | 9901 | €91,292 | €73,079 | -€18,213 | -20.0% |
| Financial charges | 65/66B | €5,645 | €4,600 | -€1,045 | -18.5% |
| Recurring financial charges | 65 | €5,645 | €4,600 | -€1,045 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €85,647 | €68,479 | -€17,168 | -20.0% |
| Income taxes | 67/77 | €21,612 | €18,627 | -€2,985 | -13.8% |
| Profit (loss) for the period | 9904 | €64,035 | €49,852 | -€14,183 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,035 | €49,852 | -€14,183 | -22.1% |
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 13 October 2026 via checked.be.