GANGITECH: 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.
GANGITECH
Largest movements
- Cash +€106,786
up €106,786 (+94.0%), from €113,610 to €220,396
mainly Accrued charges and deferred income (+€151,493) and Net result for the year (+€31,591)
- Receivables within one year +€96,154
up €96,154 (+46.2%), from €208,205 to €304,360
of which Trade receivables: +€111,835
- Tangible fixed assets -€9,067
down €9,067 (-6.9%), from €130,536 to €121,469
of which Plant, machinery and equipment: -€8,438
- Accrued charges and deferred income +€151,493
up €151,493 (+86.4%), from €175,358 to €326,851
- Reserves +€31,591
up €31,591 (+60.3%), from €52,418 to €84,009
- Tax, wage and social debts +€23,683
up €23,683 (+66.5%), from €35,601 to €59,285
of which Taxes: +€29,157
- Trade debts -€12,429
down €12,429 (-31.3%), from €39,697 to €27,268
of which Bills of exchange payable: -€7,456
- Gross operating margin +€40,777
up €40,777 (+15.9%), from €256,021 to €296,797
- Staff costs +€12,032
up €12,032 (+5.8%), from €208,202 to €220,234
- Taxes +€8,816
up €8,816 (+152%), from €5,800 to €14,616
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 | €495,264 | €686,133 | +€190,869 | +38.5% |
| Fixed assets | 21/28 | €130,711 | €121,644 | -€9,067 | -6.9% |
| Tangible fixed assets | 22/27 | €130,536 | €121,469 | -€9,067 | -6.9% |
| Land and buildings | 22 | €68,864 | €60,991 | -€7,873 | -11.4% |
| Plant, machinery and equipment | 23 | €37,548 | €29,110 | -€8,438 | -22.5% |
| Furniture and vehicles | 24 | €24,124 | €31,368 | +€7,244 | +30.0% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €364,553 | €564,489 | +€199,936 | +54.8% |
| Stocks and contracts in progress | 3 | €24,679 | €26,292 | +€1,613 | +6.5% |
| Stocks | 30/36 | €23,551 | €26,292 | +€2,741 | +11.6% |
| Contracts in progress | 37 | €1,128 | - | -€1,128 | |
| Amounts receivable within one year | 40/41 | €208,205 | €304,360 | +€96,154 | +46.2% |
| Trade receivables | 40 | €192,525 | €304,360 | +€111,835 | +58.1% |
| Other amounts receivable | 41 | €15,680 | - | -€15,680 | |
| Cash at bank and in hand | 54/58 | €113,610 | €220,396 | +€106,786 | +94.0% |
| Deferred charges and accrued income | 490/1 | €18,059 | €13,441 | -€4,618 | -25.6% |
| Total equity and liabilities | 10/49 | €495,264 | €686,133 | +€190,869 | +38.5% |
| Equity | 10/15 | €80,321 | €111,912 | +€31,591 | +39.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €52,418 | €84,009 | +€31,591 | +60.3% |
| Distributable reserves | 133 | €52,418 | €84,009 | +€31,591 | +60.3% |
| Profit (loss) carried forward | 14 | €9,303 | €9,303 | = | 0.0% |
| Amounts payable | 17/49 | €414,943 | €574,221 | +€159,279 | +38.4% |
| Amounts payable after more than one year | 17 | €95,580 | €93,491 | -€2,089 | -2.2% |
| Financial debts | 170/4 | €95,580 | €93,491 | -€2,089 | -2.2% |
| Amounts payable within one year | 42/48 | €144,004 | €153,879 | +€9,874 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €19,599 | €21,379 | +€1,781 | +9.1% |
| Trade debts | 44 | €39,697 | €27,268 | -€12,429 | -31.3% |
| Suppliers | 440/4 | €32,241 | €27,268 | -€4,973 | -15.4% |
| Bills of exchange payable | 441 | €7,456 | - | -€7,456 | |
| Taxes, remuneration and social security | 45 | €35,601 | €59,285 | +€23,683 | +66.5% |
| Taxes | 450/3 | €7,405 | €36,562 | +€29,157 | +394% |
| Remuneration and social security | 454/9 | €28,196 | €22,722 | -€5,474 | -19.4% |
| Other amounts payable | 47/48 | €49,107 | €45,946 | -€3,161 | -6.4% |
| Accrued charges and deferred income | 492/3 | €175,358 | €326,851 | +€151,493 | +86.4% |
| Remuneration, social security and pensions | 62 | €208,202 | €220,234 | +€12,032 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,394 | €28,590 | +€196 | +0.7% |
| Other operating charges | 640/8 | €8,371 | €7,693 | -€678 | -8.1% |
| Non-recurring operating charges | 66A | €9 | €8 | -€1 | -10.3% |
| Gross operating margin | 9900 | €256,021 | €296,797 | +€40,777 | +15.9% |
| Operating profit (loss) | 9901 | €11,044 | €40,272 | +€29,227 | +265% |
| Financial income | 75/76B | €17,587 | €17,416 | -€171 | -1.0% |
| Recurring financial income | 75 | €17,587 | €17,416 | -€171 | -1.0% |
| Financial charges | 65/66B | €13,309 | €11,481 | -€1,828 | -13.7% |
| Recurring financial charges | 65 | €13,309 | €11,481 | -€1,828 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €15,322 | €46,207 | +€30,885 | +202% |
| Income taxes | 67/77 | €5,800 | €14,616 | +€8,816 | +152% |
| Profit (loss) for the period | 9904 | €9,522 | €31,591 | +€22,069 | +232% |
| Profit (loss) for the period to be appropriated | 9905 | €9,522 | €31,591 | +€22,069 | +232% |
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 13 October 2026 via checked.be.