GANTREX: 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.
What changed
GANTREX
NACE 28.150, Manufacture of machinery and equipment not elsewhere classified
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.0m
2024 · €3.3m+€1.6m
Equity
€15.4m
2024 · €10.4m+€5.0m
Cash
€1.3m
2024 · €1.7m-€411,745
Balance sheet total
€41.8m
2024 · €38.6m+€3.2m
Largest movements
Assets
- Receivables within one year +€1.3m
up €1.3m (+33.9%), from €4.0m to €5.3m
of which Trade receivables: +€1.2m
- Current investments +€851,064
new in 2025: €851,064
- Financial fixed assets +€829,698
up €829,698 (+3.2%), from €25.8m to €26.6m
of which Affiliated companies: +€836,103
- Tangible fixed assets +€601,625
up €601,625 (+35.1%), from €1.7m to €2.3m
of which Land and buildings: +€805,303
Equity and liabilities
- Profit (loss) carried forward +€5.0m
up €5.0m (+49.0%), from €10.1m to €15.1m
- Debts after one year -€2.1m
down €2.1m (-10.4%), from €19.9m to €17.8m
of which Financial debts: -€1.9m
- Trade debts +€544,571
up €544,571 (+9.0%), from €6.1m to €6.6m
Income statement
- Goods and materials -€2.0m
down €2.0m (-13.2%), from €15.4m to €13.4m
of which Purchases: -€1.3m
- Financial income +€1.1m
up €1.1m (+28.2%), from €4.0m to €5.1m
- Services and other goods +€936,830
up €936,830 (+15.4%), from €6.1m to €7.0m
- Turnover -€764,547
down €764,547 (-2.9%), from €26.4m to €25.7m
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.
Result 2024
€3.3m
Turnover
-€764,547
Other operating income
-€148,830
Goods and materials
+€2.0m
Services and other goods
-€936,830
Staff costs
+€126,091
Depreciation
-€35,371
Write-downs
-€173,576
Other operating charges
+€221,052
Financial income
+€1.1m
Financial charges
+€178,856
Taxes
+€22,086
Result 2025
€5.0m
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.
From operations
+€4.2m
Investment
-€2.5m
Financing
-€2.1m
Cash 2024
€1.7m
From operations (derived)
+€4.2m
Net result for the year
+€5.0m
Depreciation
+€263,613
Stocks and contracts
-€89,335
Receivables within one year
-€1.3m
Deferred charges and accrued income
+€136,906
Provisions
+€34,372
Trade debts
+€544,571
Tax, wage and social debts
-€42,389
Advances received
-€274,293
Other debts
-€6,650
Accrued charges and deferred income
+€17,788
Investment (derived)
-€2.5m
Investment in fixed assets (net)
-€1.7m
Current investments
-€851,064
Financing
-€2.1m
Debts after one year
-€2.1m
Short-term financial debts
+€0
Cash 2025
€1.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €38,639,203 | €41,807,608 | +€3.2m | +8.2% |
| Fixed assets | 21/28 | €27,515,583 | €28,946,906 | +€1.4m | +5.2% |
| Tangible fixed assets | 22/27 | €1,714,735 | €2,316,361 | +€601,625 | +35.1% |
| Land and buildings | 22 | €643,955 | €1,449,258 | +€805,303 | +125.1% |
| Plant, machinery and equipment | 23 | €591,247 | €635,026 | +€43,780 | +7.4% |
| Furniture and vehicles | 24 | €49,358 | €117,314 | +€67,956 | +137.7% |
| Leasing and similar rights | 25 | €0 | €0 | = | 0.0% |
| Assets under construction and advance payments | 27 | €430,176 | €114,763 | -€315,414 | -73.3% |
| Financial fixed assets | 28 | €25,800,847 | €26,630,545 | +€829,698 | +3.2% |
| Affiliated companies | 280/1 | €25,771,517 | €26,607,620 | +€836,103 | +3.2% |
| Participating interests | 280 | €24,978,337 | €24,978,337 | = | 0.0% |
| Amounts receivable | 281 | €793,180 | €1,629,284 | +€836,103 | +105.4% |
| Other financial fixed assets | 284/8 | €29,330 | €22,925 | -€6,405 | -21.8% |
| Shares | 284 | €519 | €519 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €28,811 | €22,406 | -€6,405 | -22.2% |
| Current assets | 29/58 | €11,123,621 | €12,860,702 | +€1.7m | +15.6% |
| Stocks and contracts in progress | 3 | €5,072,626 | €5,161,962 | +€89,335 | +1.8% |
| Stocks | 30/36 | €4,811,568 | €4,417,525 | -€394,044 | -8.2% |
| Goods purchased for resale | 34 | €4,811,568 | €4,417,525 | -€394,044 | -8.2% |
| Contracts in progress | 37 | €261,058 | €744,437 | +€483,379 | +185.2% |
| Amounts receivable within one year | 40/41 | €3,969,872 | €5,315,205 | +€1.3m | +33.9% |
| Trade receivables | 40 | €3,809,493 | €5,056,364 | +€1.2m | +32.7% |
| Other amounts receivable | 41 | €160,379 | €258,841 | +€98,462 | +61.4% |
| Current investments | 50/53 | - | €851,064 | +€851,064 | |
| Other investments | 51/53 | - | €851,064 | +€851,064 | |
| Cash at bank and in hand | 54/58 | €1,743,712 | €1,331,967 | -€411,745 | -23.6% |
| Deferred charges and accrued income | 490/1 | €337,410 | €200,504 | -€136,906 | -40.6% |
| Total equity and liabilities | 10/49 | €38,639,203 | €41,807,608 | +€3.2m | +8.2% |
| Equity | 10/15 | €10,428,992 | €15,383,517 | +€5.0m | +47.5% |
| Contributions | 10/11 | €208,181 | €208,181 | = | 0.0% |
| Reserves | 13 | €106,905 | €106,905 | = | 0.0% |
| Non-distributable reserves | 130/1 | €92,335 | €92,335 | = | 0.0% |
| Reserves not available under the articles | 1311 | €92,335 | €92,335 | = | 0.0% |
| Distributable reserves | 133 | €14,570 | €14,570 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,113,905 | €15,068,431 | +€5.0m | +49.0% |
| Provisions and deferred taxes | 16 | €448,437 | €482,810 | +€34,372 | +7.7% |
| Provisions for liabilities and charges | 160/5 | €448,437 | €482,810 | +€34,372 | +7.7% |
| Pensions and similar obligations | 160 | €248,437 | €282,810 | +€34,372 | +13.8% |
| Other liabilities and charges | 164/5 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable | 17/49 | €27,761,775 | €25,941,281 | -€1.8m | -6.6% |
| Amounts payable after more than one year | 17 | €19,880,018 | €17,820,498 | -€2.1m | -10.4% |
| Financial debts | 170/4 | €19,702,485 | €17,820,498 | -€1.9m | -9.6% |
| Credit institutions | 173 | €14,535,000 | €14,535,000 | = | 0.0% |
| Other loans | 174 | €5,167,485 | €3,285,498 | -€1.9m | -36.4% |
| Other amounts payable | 178/9 | €177,533 | - | -€177,533 | |
| Amounts payable within one year | 42/48 | €7,789,424 | €8,010,663 | +€221,239 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €135 | €135 | = | 0.0% |
| Financial debts | 43 | €177,533 | €177,533 | +€0 | 0.0% |
| Other loans | 439 | €177,533 | €177,533 | +€0 | 0.0% |
| Trade debts | 44 | €6,061,105 | €6,605,676 | +€544,571 | +9.0% |
| Suppliers | 440/4 | €6,061,105 | €6,605,676 | +€544,571 | +9.0% |
| Advances received on contracts in progress | 46 | €695,703 | €421,410 | -€274,293 | -39.4% |
| Taxes, remuneration and social security | 45 | €848,298 | €805,909 | -€42,389 | -5.0% |
| Taxes | 450/3 | €153,880 | €152,253 | -€1,626 | -1.1% |
| Remuneration and social security | 454/9 | €694,418 | €653,655 | -€40,763 | -5.9% |
| Other amounts payable | 47/48 | €6,650 | - | -€6,650 | |
| Accrued charges and deferred income | 492/3 | €92,333 | €110,121 | +€17,788 | +19.3% |
| Operating income | 70/76A | €27,600,265 | €26,686,888 | -€913,378 | -3.3% |
| Turnover | 70 | €26,416,727 | €25,652,180 | -€764,547 | -2.9% |
| Other operating income | 74 | €1,183,538 | €1,034,708 | -€148,830 | -12.6% |
| Non-recurring operating income | 76A | €1 | - | -€1 | |
| Operating charges | 60/66A | €25,663,100 | €24,427,162 | -€1.2m | -4.8% |
| Goods for resale, raw materials and consumables | 60 | €15,444,779 | €13,410,206 | -€2.0m | -13.2% |
| Purchases | 600/8 | €14,889,868 | €13,627,656 | -€1.3m | -8.5% |
| Change in stocks: decrease (increase) | 609 | €554,911 | -€217,450 | -€772,361 | |
| Services and other goods | 61 | €6,100,137 | €7,036,967 | +€936,830 | +15.4% |
| Remuneration, social security and pensions | 62 | €3,645,086 | €3,518,994 | -€126,091 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228,242 | €263,613 | +€35,371 | +15.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€59,792 | €113,784 | +€173,576 | |
| Other operating charges | 640/8 | €304,650 | €83,598 | -€221,052 | -72.6% |
| Operating profit (loss) | 9901 | €1,937,165 | €2,259,726 | +€322,561 | +16.7% |
| Financial income | 75/76B | €3,978,835 | €5,100,915 | +€1.1m | +28.2% |
| Recurring financial income | 75 | €3,978,835 | €5,100,915 | +€1.1m | +28.2% |
| Income from financial fixed assets | 750 | €3,118,488 | €4,267,991 | +€1.1m | +36.9% |
| Income from current assets | 751 | €182,120 | €22,077 | -€160,042 | -87.9% |
| Other financial income | 752/9 | €678,227 | €810,847 | +€132,620 | +19.6% |
| Financial charges | 65/66B | €2,500,778 | €2,321,922 | -€178,856 | -7.2% |
| Recurring financial charges | 65 | €2,500,778 | €2,321,922 | -€178,856 | -7.2% |
| Debt charges | 650 | €1,458,592 | €1,145,560 | -€313,032 | -21.5% |
| Other financial charges | 652/9 | €1,042,186 | €1,176,362 | +€134,175 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €3,415,221 | €5,038,719 | +€1.6m | +47.5% |
| Income taxes | 67/77 | €106,280 | €84,193 | -€22,086 | -20.8% |
| Taxes | 670/3 | €168,951 | €84,193 | -€84,758 | -50.2% |
| Tax adjustments and reversals of tax provisions | 77 | €62,671 | - | -€62,671 | |
| Profit (loss) for the period | 9904 | €3,308,941 | €4,954,526 | +€1.6m | +49.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,308,941 | €4,954,526 | +€1.6m | +49.7% |
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 12 October 2026 via checked.be.