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.H.
Largest movements
- Cash +€96,402
up €96,402 (+19.3%), from €498,488 to €594,890
mainly Tax, wage and social debts (+€49,702) and Depreciation (+€43,307)
- Receivables within one year +€39,999
up €39,999 (+13.7%), from €292,477 to €332,477
of which Other amounts receivable: +€32,230
- Reserves +€65,000
up €65,000 (+10.4%), from €622,450 to €687,450
of which Distributable reserves: +€65,000
- Tax, wage and social debts +€49,702
up €49,702 (+21.1%), from €235,433 to €285,135
of which Remuneration and social security: +€30,234
- Profit (loss) carried forward -€42,759
down €42,759 (-81.5%), from €52,445 to €9,686
- Other debts +€37,758
up €37,758 (+88.9%), from €42,459 to €80,217
- Current portion of long-term debt +€15,243
up €15,243 (+120.6%), from €12,643 to €27,886
- Staff costs +€155,490
up €155,490 (+9.8%), from €1.6m to €1.7m
- Gross operating margin +€111,457
up €111,457 (+6.1%), from €1.8m to €1.9m
- Taxes -€25,963
down €25,963 (-73.4%), from €35,359 to €9,396
- Write-downs +€24,451
new in 2025: €24,451
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.
Cash bridge derived
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 | €1,058,255 | €1,172,459 | +€114,205 | +10.8% |
| Fixed assets | 21/28 | €91,133 | €81,437 | -€9,696 | -10.6% |
| Intangible fixed assets | 21 | €803 | €199 | -€604 | -75.3% |
| Tangible fixed assets | 22/27 | €89,709 | €80,617 | -€9,092 | -10.1% |
| Plant, machinery and equipment | 23 | €24,326 | €20,006 | -€4,320 | -17.8% |
| Furniture and vehicles | 24 | €65,383 | €60,612 | -€4,771 | -7.3% |
| Financial fixed assets | 28 | €621 | €621 | = | 0.0% |
| Current assets | 29/58 | €967,122 | €1,091,022 | +€123,900 | +12.8% |
| Amounts receivable after more than one year | 29 | €145,750 | €136,750 | -€9,000 | -6.2% |
| Other amounts receivable | 291 | €145,750 | €136,750 | -€9,000 | -6.2% |
| Amounts receivable within one year | 40/41 | €292,477 | €332,477 | +€39,999 | +13.7% |
| Trade receivables | 40 | €275,184 | €282,953 | +€7,769 | +2.8% |
| Other amounts receivable | 41 | €17,293 | €49,524 | +€32,230 | +186.4% |
| Cash at bank and in hand | 54/58 | €498,488 | €594,890 | +€96,402 | +19.3% |
| Deferred charges and accrued income | 490/1 | €30,407 | €26,906 | -€3,501 | -11.5% |
| Total equity and liabilities | 10/49 | €1,058,255 | €1,172,459 | +€114,205 | +10.8% |
| Equity | 10/15 | €721,395 | €743,636 | +€22,241 | +3.1% |
| Contributions | 10/11 | €46,500 | €46,500 | = | 0.0% |
| Reserves | 13 | €622,450 | €687,450 | +€65,000 | +10.4% |
| Tax-exempt reserves | 132 | €27,450 | €27,450 | = | 0.0% |
| Distributable reserves | 133 | €595,000 | €660,000 | +€65,000 | +10.9% |
| Profit (loss) carried forward | 14 | €52,445 | €9,686 | -€42,759 | -81.5% |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €336,860 | €428,823 | +€91,963 | +27.3% |
| Amounts payable after more than one year | 17 | €14,879 | €2,134 | -€12,745 | -85.7% |
| Financial debts | 170/4 | €14,879 | €2,134 | -€12,745 | -85.7% |
| Amounts payable within one year | 42/48 | €321,981 | €426,689 | +€104,708 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €12,643 | €27,886 | +€15,243 | +120.6% |
| Trade debts | 44 | €31,446 | €33,451 | +€2,005 | +6.4% |
| Suppliers | 440/4 | €31,446 | €33,451 | +€2,005 | +6.4% |
| Taxes, remuneration and social security | 45 | €235,433 | €285,135 | +€49,702 | +21.1% |
| Taxes | 450/3 | €32,949 | €52,417 | +€19,468 | +59.1% |
| Remuneration and social security | 454/9 | €202,484 | €232,718 | +€30,234 | +14.9% |
| Other amounts payable | 47/48 | €42,459 | €80,217 | +€37,758 | +88.9% |
| Non-recurring operating income | 76A | €5,192 | €725 | -€4,468 | -86.0% |
| Remuneration, social security and pensions | 62 | €1,580,793 | €1,736,283 | +€155,490 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,425 | €43,307 | +€2,882 | +7.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €24,451 | +€24,451 | |
| Other operating charges | 640/8 | €8,879 | €8,061 | -€818 | -9.2% |
| Non-recurring operating charges | 66A | €242 | €301 | +€59 | +24.4% |
| Gross operating margin | 9900 | €1,819,858 | €1,931,315 | +€111,457 | +6.1% |
| Operating profit (loss) | 9901 | €189,519 | €118,911 | -€70,608 | -37.3% |
| Financial income | 75/76B | €5,172 | €5,597 | +€425 | +8.2% |
| Recurring financial income | 75 | €4,493 | €5,004 | +€511 | +11.4% |
| Non-recurring financial income | 76B | €679 | €593 | -€86 | -12.7% |
| Financial charges | 65/66B | €74,710 | €92,871 | +€18,161 | +24.3% |
| Recurring financial charges | 65 | €74,710 | €92,871 | +€18,161 | +24.3% |
| Profit (loss) for the period before taxes | 9903 | €119,981 | €31,637 | -€88,344 | -73.6% |
| Income taxes | 67/77 | €35,359 | €9,396 | -€25,963 | -73.4% |
| Profit (loss) for the period | 9904 | €84,623 | €22,241 | -€62,381 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €84,623 | €22,241 | -€62,381 | -73.7% |
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 10 October 2026 via checked.be.