G & H: what changed
Two fiscal 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
- Stocks and contracts +€94,451
up €94,451 (+62.6%), from €150,867 to €245,318
- Cash -€62,877
down €62,877 (-100.0%), from €62,877 to €0
mainly Stocks and contracts (-€94,451) and Debts after one year (-€58,448)
- Tangible fixed assets -€43,355
down €43,355 (-10.6%), from €409,332 to €365,977
of which Land and buildings: -€22,293
- Receivables within one year +€34,369
up €34,369 (+26.3%), from €130,536 to €164,906
of which Trade receivables: +€41,213
- Reserves +€75,339
up €75,339 (+44.0%), from €171,365 to €246,704
of which Distributable reserves: +€75,339
- Debts after one year -€58,448
down €58,448 (-27.7%), from €210,998 to €152,550
- Trade debts -€33,941
down €33,941 (-21.5%), from €157,506 to €123,565
- Current portion of long-term debt +€25,299
up €25,299 (+44.4%), from €56,975 to €82,274
- Tax, wage and social debts +€12,600
up €12,600 (+72.9%), from €17,293 to €29,892
of which Taxes: +€12,165
- Staff costs -€29,340
down €29,340 (-25.8%), from €113,674 to €84,335
- Taxes +€7,005
up €7,005 (+30.7%), from €22,784 to €29,788
- Financial charges +€3,137
up €3,137 (+25.5%), from €12,286 to €15,423
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 | €756,961 | €783,282 | +€26,322 | +3.5% |
| Fixed assets | 21/28 | €409,558 | €368,240 | -€41,317 | -10.1% |
| Intangible fixed assets | 21 | €225 | €2,263 | +€2,038 | +904.4% |
| Tangible fixed assets | 22/27 | €409,332 | €365,977 | -€43,355 | -10.6% |
| Land and buildings | 22 | €285,419 | €263,127 | -€22,293 | -7.8% |
| Plant, machinery and equipment | 23 | €87,878 | €78,127 | -€9,751 | -11.1% |
| Furniture and vehicles | 24 | €36,036 | €24,724 | -€11,312 | -31.4% |
| Current assets | 29/58 | €347,403 | €415,042 | +€67,639 | +19.5% |
| Stocks and contracts in progress | 3 | €150,867 | €245,318 | +€94,451 | +62.6% |
| Stocks | 30/36 | €150,867 | €245,318 | +€94,451 | +62.6% |
| Amounts receivable within one year | 40/41 | €130,536 | €164,906 | +€34,369 | +26.3% |
| Trade receivables | 40 | €123,693 | €164,906 | +€41,213 | +33.3% |
| Other amounts receivable | 41 | €6,844 | €0 | -€6,844 | -100.0% |
| Cash at bank and in hand | 54/58 | €62,877 | €0 | -€62,877 | -100.0% |
| Deferred charges and accrued income | 490/1 | €3,122 | €4,819 | +€1,697 | +54.3% |
| Total equity and liabilities | 10/49 | €756,961 | €783,282 | +€26,322 | +3.5% |
| Equity | 10/15 | €264,676 | €340,016 | +€75,339 | +28.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €171,365 | €246,704 | +€75,339 | +44.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €933 | €933 | = | 0.0% |
| Distributable reserves | 133 | €168,572 | €243,912 | +€75,339 | +44.7% |
| Profit (loss) carried forward | 14 | €74,712 | €74,712 | = | 0.0% |
| Amounts payable | 17/49 | €492,284 | €443,267 | -€49,018 | -10.0% |
| Amounts payable after more than one year | 17 | €210,998 | €152,550 | -€58,448 | -27.7% |
| Financial debts | 170/4 | €210,998 | €152,550 | -€58,448 | -27.7% |
| Amounts payable within one year | 42/48 | €279,330 | €288,761 | +€9,431 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €56,975 | €82,274 | +€25,299 | +44.4% |
| Financial debts | 43 | €12,797 | €21,389 | +€8,592 | +67.1% |
| Credit institutions | 430/8 | €12,797 | €21,389 | +€8,592 | +67.1% |
| Trade debts | 44 | €157,506 | €123,565 | -€33,941 | -21.5% |
| Suppliers | 440/4 | €157,506 | €123,565 | -€33,941 | -21.5% |
| Taxes, remuneration and social security | 45 | €17,293 | €29,892 | +€12,600 | +72.9% |
| Taxes | 450/3 | €876 | €13,041 | +€12,165 | +1388.8% |
| Remuneration and social security | 454/9 | €16,417 | €16,852 | +€435 | +2.6% |
| Other amounts payable | 47/48 | €34,759 | €31,639 | -€3,120 | -9.0% |
| Accrued charges and deferred income | 492/3 | €1,956 | €1,956 | = | 0.0% |
| Non-recurring operating income | 76A | €24,894 | €0 | -€24,894 | -100.0% |
| Remuneration, social security and pensions | 62 | €113,674 | €84,335 | -€29,340 | -25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,254 | €50,526 | +€2,273 | +4.7% |
| Other operating charges | 640/8 | €6,689 | €6,070 | -€618 | -9.2% |
| Non-recurring operating charges | 66A | €295 | €0 | -€295 | -100.0% |
| Gross operating margin | 9900 | €262,997 | €261,324 | -€1,673 | -0.6% |
| Operating profit (loss) | 9901 | €94,086 | €120,393 | +€26,307 | +28.0% |
| Financial income | 75/76B | €229 | €158 | -€71 | -31.1% |
| Recurring financial income | 75 | €229 | €158 | -€71 | -31.1% |
| Financial charges | 65/66B | €12,286 | €15,423 | +€3,137 | +25.5% |
| Recurring financial charges | 65 | €12,286 | €15,423 | +€3,137 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €82,029 | €105,128 | +€23,099 | +28.2% |
| Income taxes | 67/77 | €22,784 | €29,788 | +€7,005 | +30.7% |
| Profit (loss) for the period | 9904 | €59,245 | €75,339 | +€16,094 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €59,245 | €75,339 | +€16,094 | +27.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.