GAMME: 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.
GAMME
Largest movements
- Stocks and contracts +€247,035
up €247,035 (+24.4%), from €1.0m to €1.3m
- Cash -€220,270
down €220,270 (-30.2%), from €729,187 to €508,917
mainly Stocks and contracts (-€247,035) and Contributions, distributions and other (-€164,000)
- Tangible fixed assets -€50,654
down €50,654 (-13.2%), from €382,768 to €332,115
of which Land and buildings: -€34,255
- Receivables within one year +€48,183
up €48,183 (+12.3%), from €393,086 to €441,269
of which Trade receivables: +€36,535
- Trade debts +€120,098
up €120,098 (+12.2%), from €983,838 to €1.1m
- Reserves -€76,426
down €76,426 (-6.7%), from €1.1m to €1.1m
of which Distributable reserves: -€76,426
- Gross operating margin -€128,971
down €128,971 (-27.5%), from €468,722 to €339,751
- Financial charges -€10,377
down €10,377 (-38.2%), from €27,160 to €16,783
- Staff costs +€9,243
up €9,243 (+6.4%), from €143,801 to €153,044
- Taxes -€9,199
down €9,199 (-30.4%), from €30,301 to €21,102
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 | €2,519,302 | €2,547,678 | +€28,377 | +1.1% |
| Fixed assets | 21/28 | €382,778 | €332,124 | -€50,654 | -13.2% |
| Tangible fixed assets | 22/27 | €382,768 | €332,115 | -€50,654 | -13.2% |
| Land and buildings | 22 | €337,509 | €303,254 | -€34,255 | -10.1% |
| Plant, machinery and equipment | 23 | €17,376 | €11,043 | -€6,333 | -36.4% |
| Furniture and vehicles | 24 | €27,884 | €17,818 | -€10,065 | -36.1% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €2,136,523 | €2,215,554 | +€79,031 | +3.7% |
| Stocks and contracts in progress | 3 | €1,012,314 | €1,259,349 | +€247,035 | +24.4% |
| Stocks | 30/36 | €1,012,314 | €1,259,349 | +€247,035 | +24.4% |
| Amounts receivable within one year | 40/41 | €393,086 | €441,269 | +€48,183 | +12.3% |
| Trade receivables | 40 | €65,690 | €102,225 | +€36,535 | +55.6% |
| Other amounts receivable | 41 | €327,396 | €339,044 | +€11,648 | +3.6% |
| Cash at bank and in hand | 54/58 | €729,187 | €508,917 | -€220,270 | -30.2% |
| Deferred charges and accrued income | 490/1 | €1,937 | €6,019 | +€4,082 | +210.8% |
| Total equity and liabilities | 10/49 | €2,519,302 | €2,547,678 | +€28,377 | +1.1% |
| Equity | 10/15 | €1,207,148 | €1,130,722 | -€76,426 | -6.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,145,148 | €1,068,722 | -€76,426 | -6.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,138,948 | €1,062,522 | -€76,426 | -6.7% |
| Amounts payable | 17/49 | €1,312,153 | €1,416,956 | +€104,803 | +8.0% |
| Amounts payable within one year | 42/48 | €1,312,153 | €1,416,956 | +€104,803 | +8.0% |
| Trade debts | 44 | €983,838 | €1,103,936 | +€120,098 | +12.2% |
| Suppliers | 440/4 | €983,838 | €1,103,936 | +€120,098 | +12.2% |
| Taxes, remuneration and social security | 45 | €37,478 | €25,606 | -€11,872 | -31.7% |
| Taxes | 450/3 | €24,094 | €12,792 | -€11,302 | -46.9% |
| Remuneration and social security | 454/9 | €13,383 | €12,814 | -€570 | -4.3% |
| Other amounts payable | 47/48 | €290,838 | €287,414 | -€3,424 | -1.2% |
| Remuneration, social security and pensions | 62 | €143,801 | €153,044 | +€9,243 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,498 | €55,884 | +€1,386 | +2.5% |
| Other operating charges | 640/8 | €6,169 | €6,125 | -€44 | -0.7% |
| Gross operating margin | 9900 | €468,722 | €339,751 | -€128,971 | -27.5% |
| Operating profit (loss) | 9901 | €264,254 | €124,699 | -€139,555 | -52.8% |
| Financial income | 75/76B | €47 | €761 | +€714 | +1525.3% |
| Recurring financial income | 75 | €47 | €761 | +€714 | +1525.3% |
| Financial charges | 65/66B | €27,160 | €16,783 | -€10,377 | -38.2% |
| Recurring financial charges | 65 | €27,160 | €16,783 | -€10,377 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €237,141 | €108,677 | -€128,464 | -54.2% |
| Income taxes | 67/77 | €30,301 | €21,102 | -€9,199 | -30.4% |
| Profit (loss) for the period | 9904 | €206,839 | €87,574 | -€119,265 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €206,839 | €87,574 | -€119,265 | -57.7% |
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 9 October 2026 via checked.be.