GANDY DIGITAL: 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.
GANDY DIGITAL
Largest movements
- Cash -€842,857
down €842,857 (-56.9%), from €1.5m to €638,239
mainly Other debts (-€989,459) and Stocks and contracts (-€182,636)
- Stocks and contracts +€182,636
up €182,636 (+38.9%), from €469,363 to €651,999
- Receivables within one year -€51,117
down €51,117 (-2.7%), from €1.9m to €1.9m
of which Trade receivables: -€35,968
- Deferred charges and accrued income +€43,512
new in 2025: €43,512
- Other debts -€989,459
down €989,459 (-64.6%), from €1.5m to €541,394
- Trade debts +€197,978
up €197,978 (+19.2%), from €1.0m to €1.2m
- Debts after one year +€78,292
up €78,292 (+29.5%), from €264,949 to €343,241
- Staff costs +€22,777
up €22,777 (+6.3%), from €361,366 to €384,143
- Taxes -€22,130
down €22,130 (-46.2%), from €47,947 to €25,817
- Financial income -€15,381
down €15,381 (-64.4%), from €23,879 to €8,498
- Gross operating margin -€13,887
down €13,887 (-2.9%), from €474,782 to €460,895
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 | €4,311,139 | €3,643,137 | -€668,002 | -15.5% |
| Fixed assets | 21/28 | €457,203 | €457,026 | -€177 | 0.0% |
| Tangible fixed assets | 22/27 | €678 | €501 | -€177 | -26.1% |
| Furniture and vehicles | 24 | €678 | €501 | -€177 | -26.1% |
| Financial fixed assets | 28 | €456,526 | €456,526 | = | 0.0% |
| Current assets | 29/58 | €3,853,936 | €3,186,110 | -€667,825 | -17.3% |
| Stocks and contracts in progress | 3 | €469,363 | €651,999 | +€182,636 | +38.9% |
| Stocks | 30/36 | €469,363 | €651,999 | +€182,636 | +38.9% |
| Amounts receivable within one year | 40/41 | €1,903,477 | €1,852,360 | -€51,117 | -2.7% |
| Trade receivables | 40 | €1,847,994 | €1,812,026 | -€35,968 | -1.9% |
| Other amounts receivable | 41 | €55,483 | €40,334 | -€15,149 | -27.3% |
| Cash at bank and in hand | 54/58 | €1,481,096 | €638,239 | -€842,857 | -56.9% |
| Deferred charges and accrued income | 490/1 | - | €43,512 | +€43,512 | |
| Total equity and liabilities | 10/49 | €4,311,139 | €3,643,137 | -€668,002 | -15.5% |
| Equity | 10/15 | €1,110,405 | €1,136,289 | +€25,884 | +2.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Contributions outside capital | 11 | €250,000 | €250,000 | = | 0.0% |
| Other | 1109/19 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €835,405 | €861,289 | +€25,884 | +3.1% |
| Provisions and deferred taxes | 16 | €167,008 | €167,008 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €167,008 | €167,008 | = | 0.0% |
| Other liabilities and charges | 164/5 | €167,008 | €167,008 | = | 0.0% |
| Amounts payable | 17/49 | €3,033,725 | €2,339,839 | -€693,886 | -22.9% |
| Amounts payable after more than one year | 17 | €264,949 | €343,241 | +€78,292 | +29.5% |
| Financial debts | 170/4 | €264,949 | €343,241 | +€78,292 | +29.5% |
| Amounts payable within one year | 42/48 | €2,768,776 | €1,996,598 | -€772,178 | -27.9% |
| Current portion of amounts payable after more than one year | 42 | €70,050 | €96,610 | +€26,560 | +37.9% |
| Trade debts | 44 | €1,029,344 | €1,227,322 | +€197,978 | +19.2% |
| Suppliers | 440/4 | €1,029,344 | €1,227,322 | +€197,978 | +19.2% |
| Advances received on contracts in progress | 46 | €2,365 | €10,865 | +€8,500 | +359.4% |
| Taxes, remuneration and social security | 45 | €136,165 | €120,408 | -€15,757 | -11.6% |
| Taxes | 450/3 | €82,994 | €63,125 | -€19,870 | -23.9% |
| Remuneration and social security | 454/9 | €53,170 | €57,283 | +€4,113 | +7.7% |
| Other amounts payable | 47/48 | €1,530,853 | €541,394 | -€989,459 | -64.6% |
| Remuneration, social security and pensions | 62 | €361,366 | €384,143 | +€22,777 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €563 | €177 | -€386 | -68.6% |
| Other operating charges | 640/8 | €9,359 | €5,027 | -€4,332 | -46.3% |
| Gross operating margin | 9900 | €474,782 | €460,895 | -€13,887 | -2.9% |
| Operating profit (loss) | 9901 | €103,494 | €71,548 | -€31,946 | -30.9% |
| Financial income | 75/76B | €23,879 | €8,498 | -€15,381 | -64.4% |
| Recurring financial income | 75 | €23,879 | €8,498 | -€15,381 | -64.4% |
| Financial charges | 65/66B | €29,482 | €28,345 | -€1,137 | -3.9% |
| Recurring financial charges | 65 | €29,482 | €28,345 | -€1,137 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €97,890 | €51,701 | -€46,189 | -47.2% |
| Income taxes | 67/77 | €47,947 | €25,817 | -€22,130 | -46.2% |
| Profit (loss) for the period | 9904 | €49,943 | €25,884 | -€24,059 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,943 | €25,884 | -€24,059 | -48.2% |
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 11 October 2026 via checked.be.