GAMSCO: 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.
GAMSCO
Largest movements
- Receivables within one year -€7,060
down €7,060 (-14.7%), from €47,879 to €40,819
of which Other amounts receivable: -€7,787
- Cash +€4,669
up €4,669 (+25.1%), from €18,570 to €23,240
mainly Receivables within one year (+€7,060) and Trade debts (+€3,978)
- Deferred charges and accrued income +€1,636
up €1,636 (+65.8%), from €2,487 to €4,123
- Other debts -€4,140
down €4,140 (-17.1%), from €24,213 to €20,073
- Trade debts +€3,978
new in 2025: €3,978
- Accrued charges and deferred income -€2,500
down €2,500 (-33.3%), from €7,500 to €5,000
- Tax, wage and social debts +€2,150
up €2,150 (+564%), from €381 to €2,531
- Profit (loss) carried forward -€732
down €732 (-4.3%), from €17,167 to €16,436
- Gross operating margin +€10,886
up €10,886, from -€9,660 to €1,227
- Depreciation -€1,195
down €1,195 (-71.0%), from €1,684 to €489
- Financial income -€588
down €588 (-85.5%), from €687 to €100
of which Non-recurring financial income: -€563
- Financial charges +€546
up €546, from -€335 to €210
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 | €69,721 | €68,478 | -€1,243 | -1.8% |
| Fixed assets | 21/28 | €785 | €296 | -€489 | -62.3% |
| Tangible fixed assets | 22/27 | €785 | €296 | -€489 | -62.3% |
| Plant, machinery and equipment | 23 | €592 | €296 | -€296 | -50.0% |
| Furniture and vehicles | 24 | €193 | - | -€193 | |
| Current assets | 29/58 | €68,937 | €68,182 | -€754 | -1.1% |
| Amounts receivable within one year | 40/41 | €47,879 | €40,819 | -€7,060 | -14.7% |
| Trade receivables | 40 | €16,321 | €17,047 | +€727 | +4.5% |
| Other amounts receivable | 41 | €31,558 | €23,772 | -€7,787 | -24.7% |
| Cash at bank and in hand | 54/58 | €18,570 | €23,240 | +€4,669 | +25.1% |
| Deferred charges and accrued income | 490/1 | €2,487 | €4,123 | +€1,636 | +65.8% |
| Total equity and liabilities | 10/49 | €69,721 | €68,478 | -€1,243 | -1.8% |
| Equity | 10/15 | €37,627 | €36,896 | -€732 | -1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,167 | €16,436 | -€732 | -4.3% |
| Amounts payable | 17/49 | €32,094 | €31,583 | -€511 | -1.6% |
| Amounts payable within one year | 42/48 | €24,594 | €26,583 | +€1,989 | +8.1% |
| Trade debts | 44 | - | €3,978 | +€3,978 | |
| Suppliers | 440/4 | - | €3,978 | +€3,978 | |
| Taxes, remuneration and social security | 45 | €381 | €2,531 | +€2,150 | +564% |
| Taxes | 450/3 | €381 | €2,531 | +€2,150 | +564% |
| Other amounts payable | 47/48 | €24,213 | €20,073 | -€4,140 | -17.1% |
| Accrued charges and deferred income | 492/3 | €7,500 | €5,000 | -€2,500 | -33.3% |
| Non-recurring operating income | 76A | €1,303 | €6,302 | +€4,999 | +384% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,684 | €489 | -€1,195 | -71.0% |
| Other operating charges | 640/8 | €436 | €452 | +€16 | +3.6% |
| Non-recurring operating charges | 66A | €4,666 | €729 | -€3,938 | -84.4% |
| Gross operating margin | 9900 | -€9,660 | €1,227 | +€10,886 | |
| Operating profit (loss) | 9901 | -€16,446 | -€442 | +€16,003 | +97.3% |
| Financial income | 75/76B | €687 | €100 | -€588 | -85.5% |
| Recurring financial income | 75 | €124 | €100 | -€25 | -19.8% |
| Non-recurring financial income | 76B | €563 | - | -€563 | |
| Financial charges | 65/66B | -€335 | €210 | +€546 | |
| Recurring financial charges | 65 | -€335 | €210 | +€546 | |
| Profit (loss) for the period before taxes | 9903 | -€15,423 | -€553 | +€14,870 | +96.4% |
| Income taxes | 67/77 | €171 | €178 | +€7 | +4.3% |
| Profit (loss) for the period | 9904 | -€15,594 | -€732 | +€14,863 | +95.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,594 | -€732 | +€14,863 | +95.3% |
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 23 October 2026 via checked.be.