GAMMA PLAN: 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.
GAMMA PLAN
Largest movements
- Cash +€323,487
up €323,487 (+225.1%), from €143,696 to €467,183
mainly Net result for the year (+€431,472) and Trade debts (+€191,513)
- Receivables within one year -€130,085
down €130,085 (-12.6%), from €1.0m to €898,974
of which Trade receivables: -€119,511
- Tangible fixed assets +€82,107
up €82,107 (+115.2%), from €71,283 to €153,391
of which Other tangible fixed assets: +€47,125
- Stocks and contracts +€69,620
up €69,620 (+52.0%), from €133,813 to €203,434
of which Contracts in progress: +€63,749
- Reserves +€430,000
up €430,000 (+92.7%), from €464,069 to €894,069
of which Distributable reserves: +€430,000
- Other debts -€249,820
down €249,820 (-99.9%), from €250,000 to €180
- Trade debts +€191,513
up €191,513 (+48.9%), from €391,356 to €582,869
- Current portion of long-term debt -€34,583
down €34,583 (-37.4%), from €92,486 to €57,903
- Debts after one year -€34,431
down €34,431 (-46.8%), from €73,560 to €39,129
- Gross operating margin +€226,544
up €226,544 (+14.4%), from €1.6m to €1.8m
- Staff costs +€150,649
up €150,649 (+15.0%), from €1.0m to €1.2m
- Write-downs +€48,983
up €48,983 (+90.7%), from -€53,983 to -€5,000
- Depreciation +€20,110
up €20,110 (+104.1%), from €19,316 to €39,425
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 | €1,413,389 | €1,755,544 | +€342,155 | +24.2% |
| Fixed assets | 21/28 | €84,879 | €172,569 | +€87,690 | +103.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €71,283 | €153,391 | +€82,107 | +115.2% |
| Plant, machinery and equipment | 23 | €19,704 | €41,138 | +€21,433 | +108.8% |
| Furniture and vehicles | 24 | €5,443 | €14,144 | +€8,701 | +159.9% |
| Leasing and similar rights | 25 | €45,078 | €49,926 | +€4,848 | +10.8% |
| Other tangible fixed assets | 26 | €1,058 | €48,183 | +€47,125 | +4454.2% |
| Financial fixed assets | 28 | €13,596 | €19,179 | +€5,583 | +41.1% |
| Current assets | 29/58 | €1,328,510 | €1,582,975 | +€254,465 | +19.2% |
| Stocks and contracts in progress | 3 | €133,813 | €203,434 | +€69,620 | +52.0% |
| Stocks | 30/36 | €30,602 | €36,474 | +€5,871 | +19.2% |
| Contracts in progress | 37 | €103,211 | €166,960 | +€63,749 | +61.8% |
| Amounts receivable within one year | 40/41 | €1,029,059 | €898,974 | -€130,085 | -12.6% |
| Trade receivables | 40 | €875,824 | €756,312 | -€119,511 | -13.6% |
| Other amounts receivable | 41 | €153,235 | €142,661 | -€10,573 | -6.9% |
| Cash at bank and in hand | 54/58 | €143,696 | €467,183 | +€323,487 | +225.1% |
| Deferred charges and accrued income | 490/1 | €21,942 | €13,384 | -€8,558 | -39.0% |
| Total equity and liabilities | 10/49 | €1,413,389 | €1,755,544 | +€342,155 | +24.2% |
| Equity | 10/15 | €554,429 | €985,901 | +€431,472 | +77.8% |
| Contributions | 10/11 | €86,899 | €86,899 | = | 0.0% |
| Capital | 10 | €86,899 | €86,899 | = | 0.0% |
| Issued capital | 100 | €86,899 | €86,899 | = | 0.0% |
| Reserves | 13 | €464,069 | €894,069 | +€430,000 | +92.7% |
| Non-distributable reserves | 130/1 | €8,690 | €8,690 | = | 0.0% |
| Legal reserve | 130 | €8,690 | €8,690 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,379 | €25,379 | = | 0.0% |
| Distributable reserves | 133 | €430,000 | €860,000 | +€430,000 | +100.0% |
| Profit (loss) carried forward | 14 | €3,461 | €4,933 | +€1,472 | +42.5% |
| Amounts payable | 17/49 | €858,960 | €769,643 | -€89,317 | -10.4% |
| Amounts payable after more than one year | 17 | €73,560 | €39,129 | -€34,431 | -46.8% |
| Financial debts | 170/4 | €73,560 | €39,129 | -€34,431 | -46.8% |
| Amounts payable within one year | 42/48 | €785,400 | €730,432 | -€54,968 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €92,486 | €57,903 | -€34,583 | -37.4% |
| Financial debts | 43 | - | €23,572 | +€23,572 | |
| Credit institutions | 430/8 | - | €23,572 | +€23,572 | |
| Trade debts | 44 | €391,356 | €582,869 | +€191,513 | +48.9% |
| Suppliers | 440/4 | €391,356 | €582,869 | +€191,513 | +48.9% |
| Taxes, remuneration and social security | 45 | €51,557 | €65,907 | +€14,349 | +27.8% |
| Taxes | 450/3 | €4,711 | €15,680 | +€10,969 | +232.9% |
| Remuneration and social security | 454/9 | €46,847 | €50,227 | +€3,380 | +7.2% |
| Other amounts payable | 47/48 | €250,000 | €180 | -€249,820 | -99.9% |
| Accrued charges and deferred income | 492/3 | - | €82 | +€82 | |
| Remuneration, social security and pensions | 62 | €1,005,481 | €1,156,130 | +€150,649 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,316 | €39,425 | +€20,110 | +104.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€53,983 | -€5,000 | +€48,983 | +90.7% |
| Other operating charges | 640/8 | €5,738 | €15,737 | +€9,999 | +174.3% |
| Non-recurring operating charges | 66A | - | €709 | +€709 | |
| Gross operating margin | 9900 | €1,568,853 | €1,795,397 | +€226,544 | +14.4% |
| Operating profit (loss) | 9901 | €592,302 | €588,396 | -€3,907 | -0.7% |
| Financial income | 75/76B | €1,090 | €2,808 | +€1,718 | +157.6% |
| Recurring financial income | 75 | €1,090 | €2,808 | +€1,718 | +157.6% |
| Financial charges | 65/66B | €19,620 | €13,285 | -€6,335 | -32.3% |
| Recurring financial charges | 65 | €19,620 | €13,285 | -€6,335 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €573,773 | €577,919 | +€4,146 | +0.7% |
| Income taxes | 67/77 | €144,008 | €146,448 | +€2,439 | +1.7% |
| Profit (loss) for the period | 9904 | €429,765 | €431,472 | +€1,707 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €429,765 | €431,472 | +€1,707 | +0.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.