AB Govaert: 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.
AB Govaert
Largest movements
- Receivables within one year -€20,719
down €20,719 (-39.5%), from €52,494 to €31,775
of which Other amounts receivable: -€31,872
- Tangible fixed assets +€15,791
up €15,791 (+469%), from €3,365 to €19,156
of which Furniture and vehicles: +€15,289
- Cash -€6,874
down €6,874 (-34.5%), from €19,934 to €13,060
mainly Contributions, distributions and other (-€56,325) and Investment in fixed assets (net) (-€20,578)
- Deferred charges and accrued income -€3,600
down €3,600 (-20.7%), from €17,400 to €13,800
- Reserves -€25,000
down €25,000 (-93.1%), from €26,860 to €1,860
of which Distributable reserves: -€25,000
- Debts after one year +€13,965
new in 2025: €13,965
- Profit (loss) carried forward -€4,369
down €4,369 (-14.7%), from €29,709 to €25,340
- Tax, wage and social debts -€3,367
down €3,367 (-33.0%), from €10,190 to €6,822
- Trade debts +€1,801
up €1,801 (+44.3%), from €4,061 to €5,862
- Taxes +€8,636
up €8,636 (+141%), from €6,145 to €14,781
- Gross operating margin -€6,541
down €6,541 (-12.2%), from €53,593 to €47,052
- Financial income +€759
up €759 (+9,288%), from €8 to €767
- Other operating charges -€649
down €649 (-60.6%), from €1,072 to €423
- Depreciation +€571
up €571 (+13.6%), from €4,215 to €4,787
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 | €93,193 | €77,791 | -€15,402 | -16.5% |
| Fixed assets | 21/28 | €3,365 | €19,156 | +€15,791 | +469% |
| Tangible fixed assets | 22/27 | €3,365 | €19,156 | +€15,791 | +469% |
| Plant, machinery and equipment | 23 | €1,209 | €1,710 | +€502 | +41.5% |
| Furniture and vehicles | 24 | €2,156 | €17,446 | +€15,289 | +709% |
| Current assets | 29/58 | €89,828 | €58,635 | -€31,193 | -34.7% |
| Amounts receivable within one year | 40/41 | €52,494 | €31,775 | -€20,719 | -39.5% |
| Trade receivables | 40 | €947 | €12,100 | +€11,153 | +1,177% |
| Other amounts receivable | 41 | €51,547 | €19,675 | -€31,872 | -61.8% |
| Cash at bank and in hand | 54/58 | €19,934 | €13,060 | -€6,874 | -34.5% |
| Deferred charges and accrued income | 490/1 | €17,400 | €13,800 | -€3,600 | -20.7% |
| Total equity and liabilities | 10/49 | €93,193 | €77,791 | -€15,402 | -16.5% |
| Equity | 10/15 | €75,169 | €45,800 | -€29,369 | -39.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,860 | €1,860 | -€25,000 | -93.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | - | -€25,000 | |
| Profit (loss) carried forward | 14 | €29,709 | €25,340 | -€4,369 | -14.7% |
| Amounts payable | 17/49 | €18,024 | €31,991 | +€13,967 | +77.5% |
| Amounts payable after more than one year | 17 | - | €13,965 | +€13,965 | |
| Financial debts | 170/4 | - | €13,965 | +€13,965 | |
| Amounts payable within one year | 42/48 | €18,024 | €18,026 | +€2 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €2,274 | €3,842 | +€1,568 | +69.0% |
| Financial debts | 43 | €1,500 | €1,500 | = | 0.0% |
| Credit institutions | 430/8 | €1,500 | €1,500 | = | 0.0% |
| Trade debts | 44 | €4,061 | €5,862 | +€1,801 | +44.3% |
| Suppliers | 440/4 | €4,061 | €5,862 | +€1,801 | +44.3% |
| Taxes, remuneration and social security | 45 | €10,190 | €6,822 | -€3,367 | -33.0% |
| Taxes | 450/3 | €10,190 | €6,822 | -€3,367 | -33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,215 | €4,787 | +€571 | +13.6% |
| Other operating charges | 640/8 | €1,072 | €423 | -€649 | -60.6% |
| Gross operating margin | 9900 | €53,593 | €47,052 | -€6,541 | -12.2% |
| Operating profit (loss) | 9901 | €48,306 | €41,843 | -€6,463 | -13.4% |
| Financial income | 75/76B | €8 | €767 | +€759 | +9,288% |
| Recurring financial income | 75 | €8 | €767 | +€759 | +9,288% |
| Financial charges | 65/66B | €924 | €873 | -€50 | -5.4% |
| Recurring financial charges | 65 | €924 | €873 | -€50 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €47,390 | €41,736 | -€5,654 | -11.9% |
| Income taxes | 67/77 | €6,145 | €14,781 | +€8,636 | +141% |
| Profit (loss) for the period | 9904 | €41,245 | €26,956 | -€14,290 | -34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,245 | €26,956 | -€14,290 | -34.6% |
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 20 October 2026 via checked.be.