El Golfo: 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.
El Golfo
Largest movements
- Tangible fixed assets -€60,904
down €60,904 (-5.0%), from €1.2m to €1.2m
of which Land and buildings: -€38,884
- Cash -€21,281
down €21,281 (-43.4%), from €49,064 to €27,783
mainly Debts after one year (-€63,174) and Other debts (-€26,101)
- Debts after one year -€63,174
down €63,174 (-9.0%), from €699,498 to €636,324
of which Other amounts payable: -€35,000
- Other debts -€26,101
down €26,101 (-9.8%), from €265,397 to €239,296
- Gross operating margin -€43,695
down €43,695 (-29.5%), from €148,020 to €104,325
- Financial charges -€3,334
down €3,334 (-10.5%), from €31,839 to €28,505
- Taxes -€2,186
down €2,186 (-35.0%), from €6,245 to €4,059
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 | €1,297,737 | €1,211,986 | -€85,751 | -6.6% |
| Fixed assets | 21/28 | €1,224,104 | €1,162,383 | -€61,721 | -5.0% |
| Intangible fixed assets | 21 | €2,651 | €1,835 | -€817 | -30.8% |
| Tangible fixed assets | 22/27 | €1,221,452 | €1,160,548 | -€60,904 | -5.0% |
| Land and buildings | 22 | €1,075,578 | €1,036,695 | -€38,884 | -3.6% |
| Plant, machinery and equipment | 23 | €91,352 | €83,457 | -€7,896 | -8.6% |
| Furniture and vehicles | 24 | €54,522 | €40,397 | -€14,125 | -25.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €73,634 | €49,603 | -€24,031 | -32.6% |
| Amounts receivable within one year | 40/41 | €22,510 | €19,696 | -€2,814 | -12.5% |
| Trade receivables | 40 | €18,755 | €18,755 | = | 0.0% |
| Other amounts receivable | 41 | €3,755 | €941 | -€2,814 | -74.9% |
| Cash at bank and in hand | 54/58 | €49,064 | €27,783 | -€21,281 | -43.4% |
| Deferred charges and accrued income | 490/1 | €2,060 | €2,124 | +€64 | +3.1% |
| Total equity and liabilities | 10/49 | €1,297,737 | €1,211,986 | -€85,751 | -6.6% |
| Equity | 10/15 | €245,506 | €249,269 | +€3,763 | +1.5% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Reserves | 13 | €76,906 | €80,669 | +€3,763 | +4.9% |
| Distributable reserves | 133 | €76,906 | €80,669 | +€3,763 | +4.9% |
| Amounts payable | 17/49 | €1,052,231 | €962,716 | -€89,514 | -8.5% |
| Amounts payable after more than one year | 17 | €699,498 | €636,324 | -€63,174 | -9.0% |
| Financial debts | 170/4 | €479,498 | €451,324 | -€28,174 | -5.9% |
| Other amounts payable | 178/9 | €220,000 | €185,000 | -€35,000 | -15.9% |
| Amounts payable within one year | 42/48 | €352,733 | €326,392 | -€26,341 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €62,841 | €63,174 | +€333 | +0.5% |
| Trade debts | 44 | €2,305 | €2,770 | +€465 | +20.2% |
| Suppliers | 440/4 | €2,305 | €2,770 | +€465 | +20.2% |
| Taxes, remuneration and social security | 45 | €22,191 | €21,152 | -€1,038 | -4.7% |
| Taxes | 450/3 | €19,057 | €18,019 | -€1,038 | -5.4% |
| Remuneration and social security | 454/9 | €3,133 | €3,133 | = | 0.0% |
| Other amounts payable | 47/48 | €265,397 | €239,296 | -€26,101 | -9.8% |
| Non-recurring operating income | 76A | €39,367 | €0 | -€39,367 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,822 | €61,721 | -€1,101 | -1.8% |
| Other operating charges | 640/8 | €6,620 | €6,277 | -€343 | -5.2% |
| Gross operating margin | 9900 | €148,020 | €104,325 | -€43,695 | -29.5% |
| Operating profit (loss) | 9901 | €78,578 | €36,327 | -€42,252 | -53.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €31,839 | €28,505 | -€3,334 | -10.5% |
| Recurring financial charges | 65 | €31,839 | €28,505 | -€3,334 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €46,739 | €7,822 | -€38,917 | -83.3% |
| Income taxes | 67/77 | €6,245 | €4,059 | -€2,186 | -35.0% |
| Profit (loss) for the period | 9904 | €40,494 | €3,763 | -€36,731 | -90.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,494 | €3,763 | -€36,731 | -90.7% |
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 15 October 2026 via checked.be.