DE GULDENHOEVE: 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.
DE GULDENHOEVE
Largest movements
- Stocks and contracts +€51,170
up €51,170 (+12.7%), from €401,580 to €452,750
- Tangible fixed assets -€30,633
down €30,633 (-6.7%), from €455,065 to €424,432
- Debts after one year -€36,482
down €36,482 (-16.4%), from €222,287 to €185,805
- Other debts +€23,389
up €23,389 (+4.6%), from €503,692 to €527,081
- Trade debts +€20,586
up €20,586 (+73.0%), from €28,207 to €48,793
- Profit (loss) carried forward +€11,212
up €11,212 (+17.6%), from -€63,533 to -€52,320
- Current portion of long-term debt -€10,514
down €10,514 (-28.4%), from €36,996 to €26,482
- Gross operating margin +€23,332
up €23,332 (+50.5%), from €46,192 to €69,525
- Depreciation -€6,843
down €6,843 (-18.3%), from €37,476 to €30,633
- Staff costs +€6,574
up €6,574 (+3,436%), from €191 to €6,765
- Other operating charges -€1,203
down €1,203 (-31.7%), from €3,790 to €2,587
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 | €910,114 | €924,736 | +€14,622 | +1.6% |
| Fixed assets | 21/28 | €455,065 | €424,432 | -€30,633 | -6.7% |
| Tangible fixed assets | 22/27 | €455,065 | €424,432 | -€30,633 | -6.7% |
| Land and buildings | 22 | €367,723 | €361,930 | -€5,793 | -1.6% |
| Plant, machinery and equipment | 23 | €66,332 | €51,768 | -€14,565 | -22.0% |
| Furniture and vehicles | 24 | €21,009 | €10,735 | -€10,275 | -48.9% |
| Current assets | 29/58 | €455,050 | €500,304 | +€45,255 | +9.9% |
| Stocks and contracts in progress | 3 | €401,580 | €452,750 | +€51,170 | +12.7% |
| Stocks | 30/36 | €401,580 | €452,750 | +€51,170 | +12.7% |
| Amounts receivable within one year | 40/41 | €39,328 | €33,302 | -€6,026 | -15.3% |
| Trade receivables | 40 | €36,991 | €33,302 | -€3,689 | -10.0% |
| Other amounts receivable | 41 | €2,337 | €0 | -€2,337 | -100% |
| Cash at bank and in hand | 54/58 | €14,142 | €14,252 | +€110 | +0.8% |
| Total equity and liabilities | 10/49 | €910,114 | €924,736 | +€14,622 | +1.6% |
| Equity | 10/15 | €3,792 | €15,005 | +€11,212 | +296% |
| Contributions | 10/11 | €67,325 | €67,325 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,533 | -€52,320 | +€11,212 | +17.6% |
| Amounts payable | 17/49 | €906,322 | €909,732 | +€3,410 | +0.4% |
| Amounts payable after more than one year | 17 | €222,287 | €185,805 | -€36,482 | -16.4% |
| Financial debts | 170/4 | €222,287 | €185,805 | -€36,482 | -16.4% |
| Amounts payable within one year | 42/48 | €568,895 | €604,787 | +€35,892 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €36,996 | €26,482 | -€10,514 | -28.4% |
| Trade debts | 44 | €28,207 | €48,793 | +€20,586 | +73.0% |
| Suppliers | 440/4 | €28,207 | €48,793 | +€20,586 | +73.0% |
| Taxes, remuneration and social security | 45 | €0 | €2,430 | +€2,430 | |
| Taxes | 450/3 | - | €2,430 | +€2,430 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €503,692 | €527,081 | +€23,389 | +4.6% |
| Accrued charges and deferred income | 492/3 | €115,140 | €119,140 | +€4,000 | +3.5% |
| Non-recurring operating income | 76A | - | €55,000 | +€55,000 | |
| Remuneration, social security and pensions | 62 | €191 | €6,765 | +€6,574 | +3,436% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,476 | €30,633 | -€6,843 | -18.3% |
| Other operating charges | 640/8 | €3,790 | €2,587 | -€1,203 | -31.7% |
| Non-recurring operating charges | 66A | - | €14,421 | +€14,421 | |
| Gross operating margin | 9900 | €46,192 | €69,525 | +€23,332 | +50.5% |
| Operating profit (loss) | 9901 | €4,734 | €15,118 | +€10,384 | +219% |
| Financial charges | 65/66B | €4,096 | €3,906 | -€190 | -4.6% |
| Recurring financial charges | 65 | €4,096 | €3,906 | -€190 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €638 | €11,212 | +€10,574 | +1,657% |
| Profit (loss) for the period | 9904 | €638 | €11,212 | +€10,574 | +1,657% |
| Profit (loss) for the period to be appropriated | 9905 | €638 | €11,212 | +€10,574 | +1,657% |
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 28 October 2026 via checked.be.