Gungo: 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.
Gungo
Largest movements
- Receivables within one year +€66,635
up €66,635 (+8.9%), from €744,872 to €811,507
of which Trade receivables: +€66,635
- Cash +€59,705
up €59,705 (+425%), from €14,051 to €73,757
mainly Advances received (+€119,443) and Short-term financial debts (+€50,000)
- Stocks and contracts +€20,888
up €20,888 (+19.7%), from €105,779 to €126,667
- Deferred charges and accrued income +€12,334
up €12,334 (+25.3%), from €48,835 to €61,169
- Advances received +€119,443
up €119,443 (+30.4%), from €393,029 to €512,472
- Short-term financial debts +€50,000
new in 2025: €50,000
- Debts after one year +€44,879
up €44,879 (+147%), from €30,429 to €75,308
- Trade debts -€39,741
down €39,741 (-63.4%), from €62,687 to €22,946
- Tax, wage and social debts -€20,517
down €20,517 (-54.8%), from €37,450 to €16,933
of which Remuneration and social security: -€15,392
- Gross operating margin -€161,863
down €161,863 (-35.4%), from €456,847 to €294,984
- Staff costs -€141,278
down €141,278 (-33.0%), from €428,740 to €287,463
- Financial income -€12,810
down €12,810 (-23.8%), from €53,752 to €40,942
- Taxes -€9,587
down €9,587 (-69.2%), from €13,857 to €4,270
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 | €1,016,027 | €1,165,100 | +€149,073 | +14.7% |
| Fixed assets | 21/28 | €102,491 | €92,002 | -€10,489 | -10.2% |
| Tangible fixed assets | 22/27 | €102,491 | €92,002 | -€10,489 | -10.2% |
| Plant, machinery and equipment | 23 | €56,647 | €46,514 | -€10,134 | -17.9% |
| Furniture and vehicles | 24 | €2,830 | €5,753 | +€2,923 | +103% |
| Other tangible fixed assets | 26 | €43,013 | €39,735 | -€3,278 | -7.6% |
| Current assets | 29/58 | €913,537 | €1,073,099 | +€159,562 | +17.5% |
| Stocks and contracts in progress | 3 | €105,779 | €126,667 | +€20,888 | +19.7% |
| Stocks | 30/36 | €105,779 | €126,667 | +€20,888 | +19.7% |
| Amounts receivable within one year | 40/41 | €744,872 | €811,507 | +€66,635 | +8.9% |
| Trade receivables | 40 | €272,188 | €338,823 | +€66,635 | +24.5% |
| Other amounts receivable | 41 | €472,684 | €472,684 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,051 | €73,757 | +€59,705 | +425% |
| Deferred charges and accrued income | 490/1 | €48,835 | €61,169 | +€12,334 | +25.3% |
| Total equity and liabilities | 10/49 | €1,016,027 | €1,165,100 | +€149,073 | +14.7% |
| Equity | 10/15 | €232,934 | €235,110 | +€2,176 | +0.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €132,934 | €135,110 | +€2,176 | +1.6% |
| Distributable reserves | 133 | €132,934 | €135,110 | +€2,176 | +1.6% |
| Amounts payable | 17/49 | €783,093 | €929,990 | +€146,897 | +18.8% |
| Amounts payable after more than one year | 17 | €30,429 | €75,308 | +€44,879 | +147% |
| Financial debts | 170/4 | €30,429 | €75,308 | +€44,879 | +147% |
| Amounts payable within one year | 42/48 | €733,349 | €846,291 | +€112,942 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €3,834 | €18,426 | +€14,592 | +381% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €62,687 | €22,946 | -€39,741 | -63.4% |
| Suppliers | 440/4 | €62,687 | €22,946 | -€39,741 | -63.4% |
| Advances received on contracts in progress | 46 | €393,029 | €512,472 | +€119,443 | +30.4% |
| Taxes, remuneration and social security | 45 | €37,450 | €16,933 | -€20,517 | -54.8% |
| Taxes | 450/3 | €16,372 | €11,246 | -€5,126 | -31.3% |
| Remuneration and social security | 454/9 | €21,078 | €5,687 | -€15,392 | -73.0% |
| Other amounts payable | 47/48 | €236,349 | €225,514 | -€10,834 | -4.6% |
| Accrued charges and deferred income | 492/3 | €19,315 | €8,391 | -€10,924 | -56.6% |
| Remuneration, social security and pensions | 62 | €428,740 | €287,463 | -€141,278 | -33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,673 | €20,352 | +€3,679 | +22.1% |
| Other operating charges | 640/8 | €5,209 | €2,083 | -€3,125 | -60.0% |
| Non-recurring operating charges | 66A | - | €7,297 | +€7,297 | |
| Gross operating margin | 9900 | €456,847 | €294,984 | -€161,863 | -35.4% |
| Operating profit (loss) | 9901 | €6,226 | -€22,211 | -€28,436 | |
| Financial income | 75/76B | €53,752 | €40,942 | -€12,810 | -23.8% |
| Recurring financial income | 75 | €53,752 | €40,942 | -€12,810 | -23.8% |
| Financial charges | 65/66B | €11,999 | €12,286 | +€287 | +2.4% |
| Recurring financial charges | 65 | €11,999 | €12,286 | +€287 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €47,978 | €6,445 | -€41,533 | -86.6% |
| Income taxes | 67/77 | €13,857 | €4,270 | -€9,587 | -69.2% |
| Profit (loss) for the period | 9904 | €34,122 | €2,176 | -€31,946 | -93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,122 | €2,176 | -€31,946 | -93.6% |
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 19 October 2026 via checked.be.