GAMMA BENELUX: what changed
GAMMA BENELUX
Largest movements
- Cash +€178,245
up €178,245 (+159%), from €112,250 to €290,495
mainly Net result for the year (+€85,302) and Receivables within one year (+€72,735)
- Receivables within one year -€72,735
down €72,735 (-88.3%), from €82,343 to €9,608
of which Other amounts receivable: -€52,457
- Stocks and contracts -€32,500
no longer reported in 2026 (was €32,500)
- Tangible fixed assets -€12,202
down €12,202 (-9.3%), from €130,585 to €118,383
of which Furniture and vehicles: -€32,640
- Reserves +€85,302
up €85,302 (+24.3%), from €350,347 to €435,649
of which Distributable reserves: +€85,302
- Trade debts -€23,747
down €23,747 (-70.7%), from €33,596 to €9,849
- Advances received +€10,000
up €10,000 (+68.2%), from €14,657 to €24,657
- Debts after one year -€7,908
down €7,908 (-41.6%), from €18,995 to €11,087
- Staff costs -€138,486
no longer reported in 2026 (was €138,486)
- Gross operating margin -€92,449
down €92,449 (-39.7%), from €232,778 to €140,330
- Taxes +€17,163
up €17,163 (+74.9%), from €22,906 to €40,069
- Depreciation -€11,533
down €11,533 (-35.4%), from €32,620 to €21,087
- Financial income +€3,366
up €3,366 (+20.6%), from €16,351 to €19,717
of which Non-recurring financial income: +€4,710
Change in the result, 2025 to 2026
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 2025 and 2026 balance sheets and the 2026 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 | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €379,968 | €437,987 | +€58,018 | +15.3% |
| Fixed assets | 21/28 | €152,875 | €137,883 | -€14,992 | -9.8% |
| Tangible fixed assets | 22/27 | €130,585 | €118,383 | -€12,202 | -9.3% |
| Land and buildings | 22 | €52,055 | €72,494 | +€20,438 | +39.3% |
| Furniture and vehicles | 24 | €78,530 | €45,890 | -€32,640 | -41.6% |
| Financial fixed assets | 28 | €22,290 | €19,500 | -€2,790 | -12.5% |
| Current assets | 29/58 | €227,093 | €300,103 | +€73,010 | +32.1% |
| Stocks and contracts in progress | 3 | €32,500 | - | -€32,500 | |
| Stocks | 30/36 | €32,500 | - | -€32,500 | |
| Amounts receivable within one year | 40/41 | €82,343 | €9,608 | -€72,735 | -88.3% |
| Trade receivables | 40 | €20,665 | €387 | -€20,278 | -98.1% |
| Other amounts receivable | 41 | €61,678 | €9,221 | -€52,457 | -85.0% |
| Cash at bank and in hand | 54/58 | €112,250 | €290,495 | +€178,245 | +159% |
| Total equity and liabilities | 10/49 | €379,968 | €437,987 | +€58,018 | +15.3% |
| Equity | 10/15 | €280,223 | €365,525 | +€85,302 | +30.4% |
| Contributions | 10/11 | €13,022 | €13,022 | = | 0.0% |
| Reserves | 13 | €350,347 | €435,649 | +€85,302 | +24.3% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €331,597 | €416,899 | +€85,302 | +25.7% |
| Profit (loss) carried forward | 14 | -€83,146 | -€83,146 | = | 0.0% |
| Amounts payable | 17/49 | €99,746 | €72,462 | -€27,284 | -27.4% |
| Amounts payable after more than one year | 17 | €18,995 | €11,087 | -€7,908 | -41.6% |
| Financial debts | 170/4 | €18,995 | €11,087 | -€7,908 | -41.6% |
| Amounts payable within one year | 42/48 | €80,751 | €61,375 | -€19,377 | -24.0% |
| Current portion of amounts payable after more than one year | 42 | €9,096 | €7,908 | -€1,188 | -13.1% |
| Trade debts | 44 | €33,596 | €9,849 | -€23,747 | -70.7% |
| Suppliers | 440/4 | €33,596 | €9,849 | -€23,747 | -70.7% |
| Advances received on contracts in progress | 46 | €14,657 | €24,657 | +€10,000 | +68.2% |
| Taxes, remuneration and social security | 45 | €18,187 | €15,602 | -€2,585 | -14.2% |
| Taxes | 450/3 | €10,354 | €15,602 | +€5,248 | +50.7% |
| Remuneration and social security | 454/9 | €7,833 | - | -€7,833 | |
| Other amounts payable | 47/48 | €5,215 | €3,359 | -€1,856 | -35.6% |
| Non-recurring operating income | 76A | €4,562 | €15,886 | +€11,325 | +248% |
| Remuneration, social security and pensions | 62 | €138,486 | - | -€138,486 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,620 | €21,087 | -€11,533 | -35.4% |
| Other operating charges | 640/8 | €12,020 | €11,539 | -€480 | -4.0% |
| Gross operating margin | 9900 | €232,778 | €140,330 | -€92,449 | -39.7% |
| Operating profit (loss) | 9901 | €49,652 | €107,703 | +€58,051 | +117% |
| Financial income | 75/76B | €16,351 | €19,717 | +€3,366 | +20.6% |
| Recurring financial income | 75 | €1,351 | €7 | -€1,344 | -99.5% |
| Non-recurring financial income | 76B | €15,000 | €19,710 | +€4,710 | +31.4% |
| Financial charges | 65/66B | €2,883 | €2,049 | -€834 | -28.9% |
| Recurring financial charges | 65 | €2,883 | €2,049 | -€834 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €63,121 | €125,372 | +€62,251 | +98.6% |
| Income taxes | 67/77 | €22,906 | €40,069 | +€17,163 | +74.9% |
| Profit (loss) for the period | 9904 | €40,215 | €85,302 | +€45,088 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €40,215 | €85,302 | +€45,088 | +112% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.