GNGR: 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.
GNGR
Largest movements
- Receivables within one year +€79,590
up €79,590 (+16.1%), from €495,244 to €574,834
of which Other amounts receivable: +€109,695
- Stocks and contracts -€36,087
down €36,087 (-13.9%), from €259,716 to €223,630
- Cash -€27,437
down €27,437 (-27.1%), from €101,335 to €73,898
mainly Debts after one year (-€126,000) and Investment in fixed assets (net) (-€106,780)
- Debts after one year -€126,000
down €126,000 (-40.6%), from €310,333 to €184,334
of which Financial debts: -€120,000
- Reserves +€88,910
up €88,910 (+20.1%), from €441,594 to €530,505
of which Distributable reserves: +€88,910
- Other debts +€39,198
up €39,198 (+3,457%), from €1,134 to €40,332
- Short-term financial debts +€30,000
up €30,000 (+12.5%), from €240,000 to €270,000
- Tax, wage and social debts -€18,055
down €18,055 (-18.6%), from €97,107 to €79,052
of which Taxes: -€22,116
- Gross operating margin +€138,629
up €138,629 (+19.4%), from €714,148 to €852,777
- Staff costs +€89,029
up €89,029 (+19.2%), from €463,285 to €552,313
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 | €1,544,509 | €1,546,897 | +€2,388 | +0.2% |
| Fixed assets | 21/28 | €681,589 | €667,226 | -€14,363 | -2.1% |
| Intangible fixed assets | 21 | €29,694 | €14,847 | -€14,847 | -50.0% |
| Tangible fixed assets | 22/27 | €651,895 | €652,379 | +€484 | +0.1% |
| Land and buildings | 22 | €261,202 | €237,560 | -€23,642 | -9.1% |
| Plant, machinery and equipment | 23 | €362,997 | €382,831 | +€19,834 | +5.5% |
| Furniture and vehicles | 24 | €27,696 | €24,434 | -€3,262 | -11.8% |
| Leasing and similar rights | 25 | - | €7,554 | +€7,554 | |
| Current assets | 29/58 | €862,920 | €879,671 | +€16,751 | +1.9% |
| Stocks and contracts in progress | 3 | €259,716 | €223,630 | -€36,087 | -13.9% |
| Stocks | 30/36 | €259,716 | €223,630 | -€36,087 | -13.9% |
| Amounts receivable within one year | 40/41 | €495,244 | €574,834 | +€79,590 | +16.1% |
| Trade receivables | 40 | €86,178 | €56,073 | -€30,105 | -34.9% |
| Other amounts receivable | 41 | €409,065 | €518,760 | +€109,695 | +26.8% |
| Cash at bank and in hand | 54/58 | €101,335 | €73,898 | -€27,437 | -27.1% |
| Deferred charges and accrued income | 490/1 | €6,625 | €7,310 | +€685 | +10.3% |
| Total equity and liabilities | 10/49 | €1,544,509 | €1,546,897 | +€2,388 | +0.2% |
| Equity | 10/15 | €492,594 | €581,505 | +€88,910 | +18.0% |
| Contributions | 10/11 | €51,000 | €51,000 | = | 0.0% |
| Reserves | 13 | €441,594 | €530,505 | +€88,910 | +20.1% |
| Tax-exempt reserves | 132 | €14,500 | €14,500 | = | 0.0% |
| Distributable reserves | 133 | €427,094 | €516,005 | +€88,910 | +20.8% |
| Provisions and deferred taxes | 16 | €7,785 | €7,785 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €7,785 | €7,785 | = | 0.0% |
| Environmental obligations | 163 | €7,785 | €7,785 | = | 0.0% |
| Amounts payable | 17/49 | €1,044,129 | €957,607 | -€86,522 | -8.3% |
| Amounts payable after more than one year | 17 | €310,333 | €184,334 | -€126,000 | -40.6% |
| Financial debts | 170/4 | €280,333 | €160,334 | -€120,000 | -42.8% |
| Trade debts | 175 | €30,000 | €24,000 | -€6,000 | -20.0% |
| Amounts payable within one year | 42/48 | €733,796 | €773,273 | +€39,478 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €174,556 | €176,917 | +€2,361 | +1.4% |
| Financial debts | 43 | €240,000 | €270,000 | +€30,000 | +12.5% |
| Credit institutions | 430/8 | €240,000 | €270,000 | +€30,000 | +12.5% |
| Trade debts | 44 | €220,998 | €206,973 | -€14,026 | -6.3% |
| Suppliers | 440/4 | €220,998 | €206,973 | -€14,026 | -6.3% |
| Taxes, remuneration and social security | 45 | €97,107 | €79,052 | -€18,055 | -18.6% |
| Taxes | 450/3 | €22,177 | €61 | -€22,116 | -99.7% |
| Remuneration and social security | 454/9 | €74,930 | €78,991 | +€4,061 | +5.4% |
| Other amounts payable | 47/48 | €1,134 | €40,332 | +€39,198 | +3,457% |
| Non-recurring operating income | 76A | €10,123 | €11,930 | +€1,807 | +17.8% |
| Remuneration, social security and pensions | 62 | €463,285 | €552,313 | +€89,029 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,653 | €121,143 | -€5,510 | -4.4% |
| Other operating charges | 640/8 | €16,536 | €16,890 | +€354 | +2.1% |
| Non-recurring operating charges | 66A | - | €14,291 | +€14,291 | |
| Gross operating margin | 9900 | €714,148 | €852,777 | +€138,629 | +19.4% |
| Operating profit (loss) | 9901 | €107,674 | €148,139 | +€40,465 | +37.6% |
| Financial income | 75/76B | €5,458 | €6,015 | +€557 | +10.2% |
| Recurring financial income | 75 | €5,458 | €6,015 | +€557 | +10.2% |
| Financial charges | 65/66B | €31,902 | €38,255 | +€6,353 | +19.9% |
| Recurring financial charges | 65 | €31,902 | €38,255 | +€6,353 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €81,230 | €115,899 | +€34,669 | +42.7% |
| Income taxes | 67/77 | €20,534 | €26,989 | +€6,454 | +31.4% |
| Profit (loss) for the period | 9904 | €60,695 | €88,910 | +€28,215 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,695 | €88,910 | +€28,215 | +46.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.