GANEOS: 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.
GANEOS
Largest movements
- Receivables within one year +€19,220
up €19,220 (+30.5%), from €63,083 to €82,303
of which Trade receivables: +€35,220
- Cash -€17,172
down €17,172 (-71.6%), from €23,998 to €6,827
- Financial fixed assets -€15,300
down €15,300 (-4.2%), from €365,065 to €349,765
- Tangible fixed assets -€13,402
down €13,402 (-37.7%), from €35,525 to €22,123
of which Furniture and vehicles: -€21,015
- Other debts -€130,758
down €130,758 (-73.9%), from €177,052 to €46,294
- Reserves +€99,500
up €99,500 (+9950.0%), from €1,000 to €100,500
of which Tax-exempt reserves: +€99,500
- Debts after one year -€55,616
down €55,616 (-20.0%), from €278,613 to €222,997
- Profit (loss) carried forward +€28,091
up €28,091 (+99.3%), from -€28,286 to -€195
- Tax, wage and social debts +€20,466
up €20,466 (+114.3%), from €17,907 to €38,373
- Taxes -€5,439
down €5,439, from €1,910 to -€3,529
- Gross operating margin -€5,269
down €5,269 (-31.2%), from €16,883 to €11,614
- Depreciation +€2,992
up €2,992 (+36.2%), from €8,268 to €11,261
- Other operating charges -€960
down €960 (-80.1%), from €1,199 to €239
- Financial charges -€861
down €861 (-15.9%), from €5,404 to €4,543
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €487,701 | €461,629 | -€26,072 | -5.3% |
| Fixed assets | 21/28 | €400,590 | €371,888 | -€28,702 | -7.2% |
| Tangible fixed assets | 22/27 | €35,525 | €22,123 | -€13,402 | -37.7% |
| Plant, machinery and equipment | 23 | €859 | €8,472 | +€7,613 | +886.0% |
| Furniture and vehicles | 24 | €34,666 | €13,651 | -€21,015 | -60.6% |
| Financial fixed assets | 28 | €365,065 | €349,765 | -€15,300 | -4.2% |
| Current assets | 29/58 | €87,111 | €89,742 | +€2,631 | +3.0% |
| Amounts receivable within one year | 40/41 | €63,083 | €82,303 | +€19,220 | +30.5% |
| Trade receivables | 40 | €37,083 | €72,303 | +€35,220 | +95.0% |
| Other amounts receivable | 41 | €26,000 | €10,000 | -€16,000 | -61.5% |
| Cash at bank and in hand | 54/58 | €23,998 | €6,827 | -€17,172 | -71.6% |
| Deferred charges and accrued income | 490/1 | €29 | €612 | +€582 | +1987.9% |
| Total equity and liabilities | 10/49 | €487,701 | €461,629 | -€26,072 | -5.3% |
| Equity | 10/15 | -€21,086 | €106,505 | +€127,591 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €0 | -€6,200 | -100.0% |
| Issued capital | 100 | €18,600 | €0 | -€18,600 | -100.0% |
| Uncalled capital | 101 | €12,400 | €0 | -€12,400 | -100.0% |
| Outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €1,000 | €100,500 | +€99,500 | +9950.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Legal reserve | 130 | €1,000 | €1,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €99,500 | +€99,500 | |
| Profit (loss) carried forward | 14 | -€28,286 | -€195 | +€28,091 | +99.3% |
| Amounts payable | 17/49 | €508,787 | €355,124 | -€153,663 | -30.2% |
| Amounts payable after more than one year | 17 | €278,613 | €222,997 | -€55,616 | -20.0% |
| Financial debts | 170/4 | €278,613 | €222,997 | -€55,616 | -20.0% |
| Amounts payable within one year | 42/48 | €230,174 | €132,127 | -€98,047 | -42.6% |
| Current portion of amounts payable after more than one year | 42 | €26,919 | €28,110 | +€1,191 | +4.4% |
| Financial debts | 43 | - | €5,867 | +€5,867 | |
| Other loans | 439 | - | €5,867 | +€5,867 | |
| Trade debts | 44 | €8,295 | €13,482 | +€5,187 | +62.5% |
| Suppliers | 440/4 | €8,295 | €13,182 | +€4,887 | +58.9% |
| Bills of exchange payable | 441 | - | €300 | +€300 | |
| Taxes, remuneration and social security | 45 | €17,907 | €38,373 | +€20,466 | +114.3% |
| Taxes | 450/3 | €17,907 | €38,373 | +€20,466 | +114.3% |
| Other amounts payable | 47/48 | €177,052 | €46,294 | -€130,758 | -73.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,268 | €11,261 | +€2,992 | +36.2% |
| Other operating charges | 640/8 | €1,199 | €239 | -€960 | -80.1% |
| Gross operating margin | 9900 | €16,883 | €11,614 | -€5,269 | -31.2% |
| Operating profit (loss) | 9901 | €7,416 | €115 | -€7,301 | -98.4% |
| Financial income | 75/76B | €0 | €286 | +€286 | +98579.3% |
| Recurring financial income | 75 | €0 | €286 | +€286 | +98579.3% |
| Financial charges | 65/66B | €5,404 | €4,543 | -€861 | -15.9% |
| Recurring financial charges | 65 | €5,404 | €4,543 | -€861 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €2,012 | -€4,142 | -€6,154 | |
| Income taxes | 67/77 | €1,910 | -€3,529 | -€5,439 | |
| Profit (loss) for the period | 9904 | €102 | -€613 | -€715 | |
| Profit (loss) for the period to be appropriated | 9905 | €102 | -€613 | -€715 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.