GELDHOF-DEWULF: what changed
What changed
GELDHOF-DEWULF
NACE 10.820, Manufacture of cocoa, chocolate and sugar confectionery
filed annual accounts (NBB)
Net result for the year
€270,983
2024 · €274,594-€3,612
Equity
€1.6m
2024 · €1.3m+€270,983
Cash
€302,313
2024 · €281,194+€21,119
Balance sheet total
€3.3m
2024 · €3.3m-€37,177
Largest movements
Assets
- Tangible fixed assets -€55,840
down €55,840 (-2.2%), from €2.5m to €2.4m
of which Land and buildings: -€86,505
Equity and liabilities
- Reserves +€270,983
up €270,983 (+20.2%), from €1.3m to €1.6m
of which Distributable reserves: +€270,983
- Debts after one year -€131,501
down €131,501 (-9.0%), from €1.5m to €1.3m
of which Financial debts: -€131,501
- Other debts -€130,035
down €130,035 (-69.1%), from €188,318 to €58,283
Income statement
- Depreciation +€31,209
up €31,209 (+19.0%), from €164,531 to €195,739
- Gross operating margin +€14,545
up €14,545 (+1.1%), from €1.4m to €1.4m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€274,594
Gross operating margin
+€14,545
Staff costs
+€9,086
Depreciation
-€31,209
Other operating charges
-€1,848
Financial income
+€4,833
Financial charges
+€9,646
Taxes
-€8,665
Result 2025
€270,983
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€300,199
Investment
-€140,129
Financing
-€138,950
Cash 2024
€281,194
From operations (derived)
+€300,199
Net result for the year
+€270,983
Depreciation
+€195,739
Stocks and contracts
-€14,223
Receivables within one year
+€23,737
Deferred charges and accrued income
-€6,828
Trade debts
-€31,193
Tax, wage and social debts
-€3,396
Advances received
+€16
Other debts
-€130,035
Accrued charges and deferred income
-€4,602
Investment (derived)
-€140,129
Investment in fixed assets (net)
-€140,129
Financing
-€138,950
Debts after one year
-€131,501
Current portion of long-term debt
-€7,449
Cash 2025
€302,313
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,342,231 | €3,305,054 | -€37,177 | -1.1% |
| Fixed assets | 21/28 | €2,505,727 | €2,450,117 | -€55,610 | -2.2% |
| Tangible fixed assets | 22/27 | €2,505,197 | €2,449,357 | -€55,840 | -2.2% |
| Land and buildings | 22 | €2,088,441 | €2,001,936 | -€86,505 | -4.1% |
| Plant, machinery and equipment | 23 | €330,613 | €294,108 | -€36,505 | -11.0% |
| Furniture and vehicles | 24 | €86,143 | €153,312 | +€67,169 | +78.0% |
| Financial fixed assets | 28 | €530 | €760 | +€230 | +43.5% |
| Current assets | 29/58 | €836,504 | €854,937 | +€18,433 | +2.2% |
| Stocks and contracts in progress | 3 | €501,761 | €515,985 | +€14,223 | +2.8% |
| Stocks | 30/36 | €501,761 | €515,985 | +€14,223 | +2.8% |
| Amounts receivable within one year | 40/41 | €43,877 | €20,140 | -€23,737 | -54.1% |
| Trade receivables | 40 | €28,111 | €17,607 | -€10,504 | -37.4% |
| Other amounts receivable | 41 | €15,767 | €2,533 | -€13,233 | -83.9% |
| Cash at bank and in hand | 54/58 | €281,194 | €302,313 | +€21,119 | +7.5% |
| Deferred charges and accrued income | 490/1 | €9,672 | €16,499 | +€6,828 | +70.6% |
| Total equity and liabilities | 10/49 | €3,342,231 | €3,305,054 | -€37,177 | -1.1% |
| Equity | 10/15 | €1,347,045 | €1,618,028 | +€270,983 | +20.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,340,845 | €1,611,828 | +€270,983 | +20.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €152,060 | €152,060 | = | 0.0% |
| Distributable reserves | 133 | €1,188,786 | €1,459,768 | +€270,983 | +22.8% |
| Amounts payable | 17/49 | €1,995,185 | €1,687,026 | -€308,159 | -15.4% |
| Amounts payable after more than one year | 17 | €1,456,116 | €1,324,615 | -€131,501 | -9.0% |
| Financial debts | 170/4 | €931,116 | €799,615 | -€131,501 | -14.1% |
| Other amounts payable | 178/9 | €525,000 | €525,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €500,977 | €328,921 | -€172,056 | -34.3% |
| Current portion of amounts payable after more than one year | 42 | €138,950 | €131,501 | -€7,449 | -5.4% |
| Trade debts | 44 | €63,294 | €32,101 | -€31,193 | -49.3% |
| Suppliers | 440/4 | €63,294 | €32,101 | -€31,193 | -49.3% |
| Advances received on contracts in progress | 46 | €24 | €40 | +€16 | +65.6% |
| Taxes, remuneration and social security | 45 | €110,391 | €106,996 | -€3,396 | -3.1% |
| Taxes | 450/3 | €44,563 | €48,887 | +€4,324 | +9.7% |
| Remuneration and social security | 454/9 | €65,828 | €58,109 | -€7,719 | -11.7% |
| Other amounts payable | 47/48 | €188,318 | €58,283 | -€130,035 | -69.1% |
| Accrued charges and deferred income | 492/3 | €38,092 | €33,490 | -€4,602 | -12.1% |
| Remuneration, social security and pensions | 62 | €712,924 | €703,838 | -€9,086 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,531 | €195,739 | +€31,209 | +19.0% |
| Other operating charges | 640/8 | €8,803 | €10,651 | +€1,848 | +21.0% |
| Gross operating margin | 9900 | €1,359,210 | €1,373,755 | +€14,545 | +1.1% |
| Operating profit (loss) | 9901 | €472,953 | €463,527 | -€9,426 | -2.0% |
| Financial income | 75/76B | €336 | €5,170 | +€4,833 | +1,437% |
| Recurring financial income | 75 | €336 | €5,170 | +€4,833 | +1,437% |
| Financial charges | 65/66B | €82,771 | €73,125 | -€9,646 | -11.7% |
| Recurring financial charges | 65 | €82,771 | €73,125 | -€9,646 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €390,518 | €395,571 | +€5,053 | +1.3% |
| Income taxes | 67/77 | €115,924 | €124,589 | +€8,665 | +7.5% |
| Profit (loss) for the period | 9904 | €274,594 | €270,983 | -€3,612 | -1.3% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €274,594 | €270,983 | -€3,612 | -1.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.