GANK: what changed
What changed
GANK
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€59,386
2024 · €126,446-€67,060
Equity
€675,653
2024 · €616,267+€59,386
Cash
€0
2024 · €52-€52
Balance sheet total
€1.2m
2024 · €1.1m+€36,867
Largest movements
Assets
- Receivables within one year +€47,240
up €47,240 (+112%), from €42,207 to €89,447
of which Other amounts receivable: +€53,657
Equity and liabilities
- Profit (loss) carried forward +€59,386
up €59,386 (+10.0%), from €590,956 to €650,342
- Tax, wage and social debts -€25,093
down €25,093 (-44.2%), from €56,820 to €31,727
- Current portion of long-term debt +€12,354
up €12,354 (+31.1%), from €39,738 to €52,092
Income statement
- Financial income -€80,936
down €80,936 (-94.0%), from €86,124 to €5,189
of which Non-recurring financial income: -€82,484
- Gross operating margin +€22,798
up €22,798 (+23.9%), from €95,546 to €118,344
- Financial charges +€5,102
up €5,102 (+31.7%), from €16,111 to €21,213
- Taxes +€2,822
up €2,822 (+14.4%), from €19,595 to €22,417
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€126,446
Gross operating margin
+€22,798
Depreciation
-€296
Other operating charges
+€183
Other operating items
-€886
Financial income
-€80,936
Financial charges
-€5,102
Taxes
-€2,822
Result 2025
€59,386
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€3,594
Investment
-€4,592
Financing
+€8,134
Cash 2024
€52
From operations (derived)
-€3,594
Net result for the year
+€59,386
Depreciation
+€16,213
Receivables within one year
-€47,240
Deferred charges and accrued income
-€1,300
Trade debts
-€5,713
Tax, wage and social debts
-€25,093
Accrued charges and deferred income
+€153
Investment (derived)
-€4,592
Investment in fixed assets (net)
-€4,592
Financing
+€8,134
Debts after one year
-€486
Current portion of long-term debt
+€12,354
Short-term financial debts
-€3,735
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,115,383 | €1,152,249 | +€36,867 | +3.3% |
| Fixed assets | 21/28 | €949,525 | €937,903 | -€11,622 | -1.2% |
| Intangible fixed assets | 21 | €837 | €417 | -€419 | -50.1% |
| Tangible fixed assets | 22/27 | €362,140 | €350,938 | -€11,202 | -3.1% |
| Land and buildings | 22 | €345,114 | €335,361 | -€9,753 | -2.8% |
| Plant, machinery and equipment | 23 | €4,441 | €7,507 | +€3,065 | +69.0% |
| Furniture and vehicles | 24 | €10,664 | €7,542 | -€3,122 | -29.3% |
| Other tangible fixed assets | 26 | €1,920 | €528 | -€1,393 | -72.5% |
| Financial fixed assets | 28 | €586,548 | €586,548 | = | 0.0% |
| Current assets | 29/58 | €165,858 | €214,346 | +€48,488 | +29.2% |
| Amounts receivable after more than one year | 29 | €120,000 | €120,000 | = | 0.0% |
| Other amounts receivable | 291 | €120,000 | €120,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,207 | €89,447 | +€47,240 | +112% |
| Trade receivables | 40 | €6,416 | €0 | -€6,416 | -100% |
| Other amounts receivable | 41 | €35,790 | €89,447 | +€53,657 | +150% |
| Cash at bank and in hand | 54/58 | €52 | €0 | -€52 | -100% |
| Deferred charges and accrued income | 490/1 | €3,599 | €4,899 | +€1,300 | +36.1% |
| Total equity and liabilities | 10/49 | €1,115,383 | €1,152,249 | +€36,867 | +3.3% |
| Equity | 10/15 | €616,267 | €675,653 | +€59,386 | +9.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,112 | €19,112 | = | 0.0% |
| Distributable reserves | 133 | €19,112 | €19,112 | = | 0.0% |
| Profit (loss) carried forward | 14 | €590,956 | €650,342 | +€59,386 | +10.0% |
| Amounts payable | 17/49 | €499,115 | €476,596 | -€22,519 | -4.5% |
| Amounts payable after more than one year | 17 | €371,658 | €371,172 | -€486 | -0.1% |
| Financial debts | 170/4 | €371,658 | €371,172 | -€486 | -0.1% |
| Amounts payable within one year | 42/48 | €126,412 | €104,226 | -€22,186 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €39,738 | €52,092 | +€12,354 | +31.1% |
| Financial debts | 43 | €8,120 | €4,386 | -€3,735 | -46.0% |
| Credit institutions | 430/8 | €8,120 | €4,386 | -€3,735 | -46.0% |
| Trade debts | 44 | €21,733 | €16,020 | -€5,713 | -26.3% |
| Suppliers | 440/4 | €21,733 | €16,020 | -€5,713 | -26.3% |
| Taxes, remuneration and social security | 45 | €56,820 | €31,727 | -€25,093 | -44.2% |
| Taxes | 450/3 | €56,820 | €31,727 | -€25,093 | -44.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,046 | €1,198 | +€153 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,918 | €16,213 | +€296 | +1.9% |
| Other operating charges | 640/8 | €3,601 | €3,418 | -€183 | -5.1% |
| Non-recurring operating charges | 66A | - | €886 | +€886 | |
| Gross operating margin | 9900 | €95,546 | €118,344 | +€22,798 | +23.9% |
| Operating profit (loss) | 9901 | €76,027 | €97,827 | +€21,799 | +28.7% |
| Financial income | 75/76B | €86,124 | €5,189 | -€80,936 | -94.0% |
| Recurring financial income | 75 | €3,641 | €5,189 | +€1,548 | +42.5% |
| Non-recurring financial income | 76B | €82,484 | €0 | -€82,484 | -100% |
| Financial charges | 65/66B | €16,111 | €21,213 | +€5,102 | +31.7% |
| Recurring financial charges | 65 | €16,111 | €21,213 | +€5,102 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | €146,041 | €81,803 | -€64,238 | -44.0% |
| Income taxes | 67/77 | €19,595 | €22,417 | +€2,822 | +14.4% |
| Profit (loss) for the period | 9904 | €126,446 | €59,386 | -€67,060 | -53.0% |
| Profit (loss) for the period to be appropriated | 9905 | €126,446 | €59,386 | -€67,060 | -53.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.