G.G.H: 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.
G.G.H
Largest movements
- Current investments -€99,933
down €99,933 (-31.8%), from €314,235 to €214,302
- Receivables within one year +€56,033
up €56,033 (+380%), from €14,728 to €70,761
- Tangible fixed assets -€20,469
down €20,469 (-3.2%), from €642,158 to €621,689
- Cash +€18,146
up €18,146 (+1,689%), from €1,074 to €19,220
mainly Current investments (+€99,933) and Other debts (+€98,000)
- Reserves -€136,282
down €136,282 (-15.2%), from €899,001 to €762,719
- Other debts +€98,000
new in 2025: €98,000
- Gross operating margin -€23,343
down €23,343 (-686%), from -€3,402 to -€26,745
- Financial income +€1,529
up €1,529 (+44.9%), from €3,407 to €4,936
- Financial charges +€1,356
up €1,356 (+1,458%), from €93 to €1,449
- Depreciation -€334
down €334 (-1.6%), from €20,802 to €20,469
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 | €975,585 | €927,912 | -€47,673 | -4.9% |
| Fixed assets | 21/28 | €644,098 | €623,629 | -€20,469 | -3.2% |
| Tangible fixed assets | 22/27 | €642,158 | €621,689 | -€20,469 | -3.2% |
| Land and buildings | 22 | €642,158 | €621,689 | -€20,469 | -3.2% |
| Financial fixed assets | 28 | €1,940 | €1,940 | = | 0.0% |
| Current assets | 29/58 | €331,487 | €304,283 | -€27,204 | -8.2% |
| Amounts receivable within one year | 40/41 | €14,728 | €70,761 | +€56,033 | +380% |
| Other amounts receivable | 41 | €14,728 | €70,761 | +€56,033 | +380% |
| Current investments | 50/53 | €314,235 | €214,302 | -€99,933 | -31.8% |
| Cash at bank and in hand | 54/58 | €1,074 | €19,220 | +€18,146 | +1,689% |
| Deferred charges and accrued income | 490/1 | €1,451 | - | -€1,451 | |
| Total equity and liabilities | 10/49 | €975,585 | €927,912 | -€47,673 | -4.9% |
| Equity | 10/15 | €974,001 | €829,797 | -€144,204 | -14.8% |
| Contributions | 10/11 | €75,000 | €67,078 | -€7,922 | -10.6% |
| Reserves | 13 | €899,001 | €762,719 | -€136,282 | -15.2% |
| Distributable reserves | 133 | €899,001 | €762,719 | -€136,282 | -15.2% |
| Amounts payable | 17/49 | €1,584 | €98,115 | +€96,531 | +6,093% |
| Amounts payable within one year | 42/48 | €1,584 | €98,115 | +€96,531 | +6,093% |
| Trade debts | 44 | €1,584 | €115 | -€1,469 | -92.7% |
| Suppliers | 440/4 | €1,584 | €115 | -€1,469 | -92.7% |
| Other amounts payable | 47/48 | - | €98,000 | +€98,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,802 | €20,469 | -€334 | -1.6% |
| Other operating charges | 640/8 | €2,464 | €2,478 | +€14 | +0.6% |
| Gross operating margin | 9900 | -€3,402 | -€26,745 | -€23,343 | -686% |
| Operating profit (loss) | 9901 | -€26,668 | -€49,692 | -€23,024 | -86.3% |
| Financial income | 75/76B | €3,407 | €4,936 | +€1,529 | +44.9% |
| Recurring financial income | 75 | €3,407 | €4,936 | +€1,529 | +44.9% |
| Financial charges | 65/66B | €93 | €1,449 | +€1,356 | +1,458% |
| Recurring financial charges | 65 | €93 | €1,449 | +€1,356 | +1,458% |
| Profit (loss) for the period before taxes | 9903 | -€23,354 | -€46,204 | -€22,851 | -97.8% |
| Profit (loss) for the period | 9904 | -€23,354 | -€46,204 | -€22,851 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,354 | -€46,204 | -€22,851 | -97.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.