GANICO Management: 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.
GANICO Management
Largest movements
- Tangible fixed assets +€782,106
up €782,106 (+6,658%), from €11,747 to €793,853
of which Land and buildings: +€783,081
- Receivables within one year -€46,625
down €46,625 (-41.1%), from €113,451 to €66,825
of which Trade receivables: -€70,640
- Debts after one year +€659,782
up €659,782 (+299%), from €220,417 to €880,198
- Other debts +€85,438
up €85,438 (+310%), from €27,600 to €113,038
- Profit (loss) carried forward -€17,205
down €17,205 (-38.7%), from €44,451 to €27,247
- Current portion of long-term debt +€13,526
up €13,526 (+31.3%), from €43,213 to €56,739
- Depreciation +€107,153
up €107,153 (+1,772%), from €6,047 to €113,200
- Gross operating margin +€39,295
up €39,295 (+30.6%), from €128,411 to €167,706
- Taxes -€13,366
down €13,366 (-86.1%), from €15,515 to €2,149
- Financial charges +€12,733
up €12,733 (+146%), from €8,743 to €21,476
- Staff costs -€2,343
down €2,343 (-4.9%), from €47,768 to €45,425
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 | €365,072 | €1,100,787 | +€735,715 | +202% |
| Fixed assets | 21/28 | €228,413 | €1,010,520 | +€782,106 | +342% |
| Tangible fixed assets | 22/27 | €11,747 | €793,853 | +€782,106 | +6,658% |
| Land and buildings | 22 | €7,171 | €790,252 | +€783,081 | +10,920% |
| Plant, machinery and equipment | 23 | €673 | €839 | +€167 | +24.8% |
| Furniture and vehicles | 24 | €3,903 | €2,761 | -€1,142 | -29.2% |
| Financial fixed assets | 28 | €216,667 | €216,667 | = | 0.0% |
| Current assets | 29/58 | €136,659 | €90,268 | -€46,391 | -33.9% |
| Amounts receivable within one year | 40/41 | €113,451 | €66,825 | -€46,625 | -41.1% |
| Trade receivables | 40 | €113,420 | €42,780 | -€70,640 | -62.3% |
| Other amounts receivable | 41 | €31 | €24,045 | +€24,014 | +77,918% |
| Cash at bank and in hand | 54/58 | €14,101 | €18,563 | +€4,462 | +31.6% |
| Deferred charges and accrued income | 490/1 | €9,107 | €4,879 | -€4,228 | -46.4% |
| Total equity and liabilities | 10/49 | €365,072 | €1,100,787 | +€735,715 | +202% |
| Equity | 10/15 | €49,591 | €32,386 | -€17,205 | -34.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €140 | €140 | = | 0.0% |
| Non-distributable reserves | 130/1 | €140 | €140 | = | 0.0% |
| Reserves not available under the articles | 1311 | €140 | €140 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,451 | €27,247 | -€17,205 | -38.7% |
| Amounts payable | 17/49 | €315,481 | €1,068,401 | +€752,920 | +239% |
| Amounts payable after more than one year | 17 | €220,417 | €880,198 | +€659,782 | +299% |
| Financial debts | 170/4 | €220,417 | €880,198 | +€659,782 | +299% |
| Amounts payable within one year | 42/48 | €95,064 | €188,198 | +€93,134 | +98.0% |
| Current portion of amounts payable after more than one year | 42 | €43,213 | €56,739 | +€13,526 | +31.3% |
| Trade debts | 44 | €1,367 | €5,907 | +€4,540 | +332% |
| Suppliers | 440/4 | €1,367 | €5,907 | +€4,540 | +332% |
| Taxes, remuneration and social security | 45 | €22,884 | €12,514 | -€10,370 | -45.3% |
| Taxes | 450/3 | €15,227 | €6,288 | -€8,939 | -58.7% |
| Remuneration and social security | 454/9 | €7,657 | €6,226 | -€1,431 | -18.7% |
| Other amounts payable | 47/48 | €27,600 | €113,038 | +€85,438 | +310% |
| Accrued charges and deferred income | 492/3 | €0 | €5 | +€5 | |
| Remuneration, social security and pensions | 62 | €47,768 | €45,425 | -€2,343 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,047 | €113,200 | +€107,153 | +1,772% |
| Other operating charges | 640/8 | €1,684 | €2,839 | +€1,156 | +68.6% |
| Gross operating margin | 9900 | €128,411 | €167,706 | +€39,295 | +30.6% |
| Operating profit (loss) | 9901 | €72,912 | €6,241 | -€66,670 | -91.4% |
| Financial income | 75/76B | €432 | €179 | -€253 | -58.5% |
| Recurring financial income | 75 | €432 | €179 | -€253 | -58.5% |
| Financial charges | 65/66B | €8,743 | €21,476 | +€12,733 | +146% |
| Recurring financial charges | 65 | €8,743 | €21,476 | +€12,733 | +146% |
| Profit (loss) for the period before taxes | 9903 | €64,601 | -€15,055 | -€79,656 | |
| Income taxes | 67/77 | €15,515 | €2,149 | -€13,366 | -86.1% |
| Profit (loss) for the period | 9904 | €49,086 | -€17,205 | -€66,291 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,086 | -€17,205 | -€66,291 |
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 25 October 2026 via checked.be.