GANDS Group: 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.
What changed
GANDS Group
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€206,773
2024 · €12.7m-€12.5m
Equity
€13.7m
2024 · €13.5m+€206,773
Cash
€5,766
2024 · €5,861-€95
Balance sheet total
€17.7m
2024 · €17.5m+€251,826
Largest movements
Assets
- Receivables within one year +€251,921
up €251,921 (+4.1%), from €6.1m to €6.4m
Equity and liabilities
- Debts after one year -€3.9m
no longer reported in 2025 (was €3.9m)
- Current portion of long-term debt +€3.9m
new in 2025: €3.9m
- Profit (loss) carried forward +€206,773
up €206,773 (+1.7%), from €12.4m to €12.6m
Income statement
- Financial income -€12.5m
down €12.5m (-97.9%), from €12.7m to €270,367
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.
Result 2024
€12.7m
Other operating charges
-€151
Other operating items
-€73,959
Financial income
-€12.5m
Financial charges
+€71,700
Result 2025
€206,773
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.
From operations
-€95
Investment
€0
Financing
€0
Cash 2024
€5,861
From operations (derived)
-€95
Net result for the year
+€206,773
Receivables within one year
-€251,921
Trade debts
-€1,049
Other debts
+€46,102
Financing
€0
Debts after one year
-€3.9m
Current portion of long-term debt
+€3.9m
Cash 2025
€5,766
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,455,841 | €17,707,667 | +€251,826 | +1.4% |
| Fixed assets | 21/28 | €11,303,334 | €11,303,334 | = | 0.0% |
| Financial fixed assets | 28 | €11,303,334 | €11,303,334 | = | 0.0% |
| Affiliated companies | 280/1 | €11,303,334 | €11,303,334 | = | 0.0% |
| Participating interests | 280 | €11,303,334 | €11,303,334 | = | 0.0% |
| Current assets | 29/58 | €6,152,507 | €6,404,333 | +€251,826 | +4.1% |
| Amounts receivable within one year | 40/41 | €6,146,646 | €6,398,567 | +€251,921 | +4.1% |
| Other amounts receivable | 41 | €6,146,646 | €6,398,567 | +€251,921 | +4.1% |
| Cash at bank and in hand | 54/58 | €5,861 | €5,766 | -€95 | -1.6% |
| Total equity and liabilities | 10/49 | €17,455,841 | €17,707,667 | +€251,826 | +1.4% |
| Equity | 10/15 | €13,492,256 | €13,699,029 | +€206,773 | +1.5% |
| Contributions | 10/11 | €1,020,000 | €1,020,000 | = | 0.0% |
| Capital | 10 | €1,020,000 | €1,020,000 | = | 0.0% |
| Issued capital | 100 | €1,020,000 | €1,020,000 | = | 0.0% |
| Reserves | 13 | €102,000 | €102,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €102,000 | €102,000 | = | 0.0% |
| Legal reserve | 130 | €102,000 | €102,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,370,256 | €12,577,029 | +€206,773 | +1.7% |
| Amounts payable | 17/49 | €3,963,585 | €4,008,638 | +€45,053 | +1.1% |
| Amounts payable after more than one year | 17 | €3,887,921 | - | -€3.9m | |
| Financial debts | 170/4 | €3,887,921 | - | -€3.9m | |
| Credit institutions | 173 | €3,887,921 | - | -€3.9m | |
| Amounts payable within one year | 42/48 | €75,664 | €4,008,638 | +€3.9m | +5197.9% |
| Current portion of amounts payable after more than one year | 42 | - | €3,887,921 | +€3.9m | |
| Trade debts | 44 | €8,054 | €7,005 | -€1,049 | -13.0% |
| Suppliers | 440/4 | €8,054 | €7,005 | -€1,049 | -13.0% |
| Other amounts payable | 47/48 | €67,610 | €113,712 | +€46,102 | +68.2% |
| Operating income | 70/76A | €87,448 | €13,662 | -€73,787 | -84.4% |
| Non-recurring operating income | 76A | €87,448 | €13,662 | -€73,787 | -84.4% |
| Operating charges | 60/66A | €8,661 | €8,984 | +€323 | +3.7% |
| Services and other goods | 61 | €7,694 | €7,866 | +€172 | +2.2% |
| Other operating charges | 640/8 | €968 | €1,118 | +€151 | +15.6% |
| Operating profit (loss) | 9901 | €78,787 | €4,677 | -€74,110 | -94.1% |
| Financial income | 75/76B | €12,743,276 | €270,367 | -€12.5m | -97.9% |
| Recurring financial income | 75 | €12,743,276 | €270,367 | -€12.5m | -97.9% |
| Income from financial fixed assets | 750 | €12,708,812 | - | -€12.7m | |
| Income from current assets | 751 | €34,464 | €270,367 | +€235,903 | +684.5% |
| Financial charges | 65/66B | €139,972 | €68,272 | -€71,700 | -51.2% |
| Recurring financial charges | 65 | €139,972 | €68,272 | -€71,700 | -51.2% |
| Debt charges | 650 | €139,086 | €61,934 | -€77,151 | -55.5% |
| Other financial charges | 652/9 | €886 | €6,338 | +€5,451 | +615.2% |
| Profit (loss) for the period before taxes | 9903 | €12,682,092 | €206,773 | -€12.5m | -98.4% |
| Profit (loss) for the period | 9904 | €12,682,092 | €206,773 | -€12.5m | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,682,092 | €206,773 | -€12.5m | -98.4% |
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 12 October 2026 via checked.be.