GANGA: 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.
GANGA
Largest movements
- Tangible fixed assets +€16,997
new in 2025: €16,997
- Stocks and contracts +€16,037
up €16,037 (+51.0%), from €31,420 to €47,457
- Receivables within one year -€11,925
down €11,925 (-100.0%), from €11,925 to €0
of which Trade receivables: -€6,154
- Deferred charges and accrued income -€1,559
down €1,559 (-100.0%), from €1,559 to €0
- Cash -€1,017
down €1,017 (-14.4%), from €7,071 to €6,054
mainly Investment in fixed assets (net) (-€18,498) and Stocks and contracts (-€16,037)
- Other debts +€7,361
up €7,361 (+256.6%), from €2,869 to €10,231
- Trade debts +€5,819
up €5,819 (+84.4%), from €6,895 to €12,714
- Accrued charges and deferred income +€3,645
new in 2025: €3,645
- Reserves +€3,523
up €3,523 (+18.1%), from €19,447 to €22,970
of which Distributable reserves: +€3,523
- Tax, wage and social debts -€1,619
down €1,619 (-13.3%), from €12,215 to €10,596
of which Taxes: -€1,809
- Taxes -€5,824
down €5,824 (-77.8%), from €7,484 to €1,659
- Gross operating margin +€2,225
up €2,225 (+6.3%), from €35,475 to €37,700
- Staff costs +€2,173
up €2,173 (+8.7%), from €25,089 to €27,262
- Depreciation +€1,303
new in 2025: €1,303
- Financial charges +€683
up €683 (+305.3%), from €224 to €906
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 | €60,026 | €78,755 | +€18,729 | +31.2% |
| Fixed assets | 21/28 | €8,050 | €25,245 | +€17,195 | +213.6% |
| Tangible fixed assets | 22/27 | - | €16,997 | +€16,997 | |
| Plant, machinery and equipment | 23 | - | €16,997 | +€16,997 | |
| Financial fixed assets | 28 | €8,050 | €8,248 | +€198 | +2.5% |
| Current assets | 29/58 | €51,976 | €53,511 | +€1,534 | +3.0% |
| Stocks and contracts in progress | 3 | €31,420 | €47,457 | +€16,037 | +51.0% |
| Stocks | 30/36 | €31,420 | €47,457 | +€16,037 | +51.0% |
| Amounts receivable within one year | 40/41 | €11,925 | €0 | -€11,925 | -100.0% |
| Trade receivables | 40 | €6,154 | €0 | -€6,154 | -100.0% |
| Other amounts receivable | 41 | €5,772 | €0 | -€5,772 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,071 | €6,054 | -€1,017 | -14.4% |
| Deferred charges and accrued income | 490/1 | €1,559 | €0 | -€1,559 | -100.0% |
| Total equity and liabilities | 10/49 | €60,026 | €78,755 | +€18,729 | +31.2% |
| Equity | 10/15 | €38,047 | €41,570 | +€3,523 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,447 | €22,970 | +€3,523 | +18.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €17,587 | €21,110 | +€3,523 | +20.0% |
| Amounts payable | 17/49 | €21,979 | €37,186 | +€15,206 | +69.2% |
| Amounts payable within one year | 42/48 | €21,979 | €33,541 | +€11,561 | +52.6% |
| Trade debts | 44 | €6,895 | €12,714 | +€5,819 | +84.4% |
| Suppliers | 440/4 | €6,895 | €12,714 | +€5,819 | +84.4% |
| Taxes, remuneration and social security | 45 | €12,215 | €10,596 | -€1,619 | -13.3% |
| Taxes | 450/3 | €8,162 | €6,353 | -€1,809 | -22.2% |
| Remuneration and social security | 454/9 | €4,054 | €4,243 | +€190 | +4.7% |
| Other amounts payable | 47/48 | €2,869 | €10,231 | +€7,361 | +256.6% |
| Accrued charges and deferred income | 492/3 | - | €3,645 | +€3,645 | |
| Remuneration, social security and pensions | 62 | €25,089 | €27,262 | +€2,173 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,303 | +€1,303 | |
| Other operating charges | 640/8 | €2,559 | €3,047 | +€488 | +19.1% |
| Gross operating margin | 9900 | €35,475 | €37,700 | +€2,225 | +6.3% |
| Operating profit (loss) | 9901 | €7,828 | €6,088 | -€1,739 | -22.2% |
| Financial income | 75/76B | €349 | €0 | -€349 | -100.0% |
| Recurring financial income | 75 | €349 | €0 | -€349 | -100.0% |
| Financial charges | 65/66B | €224 | €906 | +€683 | +305.3% |
| Recurring financial charges | 65 | €224 | €906 | +€683 | +305.3% |
| Profit (loss) for the period before taxes | 9903 | €7,953 | €5,182 | -€2,771 | -34.8% |
| Income taxes | 67/77 | €7,484 | €1,659 | -€5,824 | -77.8% |
| Profit (loss) for the period | 9904 | €469 | €3,523 | +€3,053 | +650.5% |
| Profit (loss) for the period to be appropriated | 9905 | €469 | €3,523 | +€3,053 | +650.5% |
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 10 October 2026 via checked.be.