GELDHOF PROJECTS: 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.
GELDHOF PROJECTS
Largest movements
- Cash +€79,932
up €79,932 (+148%), from €53,965 to €133,897
mainly Other debts (+€111,902) and Current investments (+€44,655)
- Current investments -€44,655
down €44,655 (-80.7%), from €55,340 to €10,685
- Receivables within one year +€6,652
up €6,652 (+43.8%), from €15,184 to €21,836
of which Other amounts receivable: +€3,997
- Deferred charges and accrued income +€3,828
up €3,828 (+564%), from €679 to €4,507
- Other debts +€111,902
up €111,902 (+2,929%), from €3,820 to €115,722
- Reserves -€72,914
down €72,914 (-63.5%), from €114,891 to €41,977
- Trade debts +€3,990
up €3,990 (+245%), from €1,627 to €5,617
- Tax, wage and social debts +€1,968
up €1,968 (+58.6%), from €3,360 to €5,328
- Gross operating margin -€7,431
down €7,431 (-11.8%), from €63,081 to €55,651
- Financial income +€2,493
up €2,493 (+11,755%), from €21 to €2,514
- Other operating charges +€754
up €754 (+270%), from €279 to €1,033
- Financial charges +€671
up €671 (+29.2%), from €2,300 to €2,971
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 | €125,168 | €170,925 | +€45,757 | +36.6% |
| Current assets | 29/58 | €125,168 | €170,925 | +€45,757 | +36.6% |
| Amounts receivable within one year | 40/41 | €15,184 | €21,836 | +€6,652 | +43.8% |
| Trade receivables | 40 | €12,480 | €15,135 | +€2,655 | +21.3% |
| Other amounts receivable | 41 | €2,704 | €6,701 | +€3,997 | +148% |
| Current investments | 50/53 | €55,340 | €10,685 | -€44,655 | -80.7% |
| Cash at bank and in hand | 54/58 | €53,965 | €133,897 | +€79,932 | +148% |
| Deferred charges and accrued income | 490/1 | €679 | €4,507 | +€3,828 | +564% |
| Total equity and liabilities | 10/49 | €125,168 | €170,925 | +€45,757 | +36.6% |
| Equity | 10/15 | €115,891 | €42,977 | -€72,914 | -62.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €114,891 | €41,977 | -€72,914 | -63.5% |
| Distributable reserves | 133 | €114,891 | €41,977 | -€72,914 | -63.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,278 | €127,948 | +€118,670 | +1,279% |
| Amounts payable within one year | 42/48 | €9,278 | €127,848 | +€118,570 | +1,278% |
| Financial debts | 43 | €471 | €1,181 | +€710 | +151% |
| Credit institutions | 430/8 | €471 | €1,181 | +€710 | +151% |
| Trade debts | 44 | €1,627 | €5,617 | +€3,990 | +245% |
| Suppliers | 440/4 | €1,627 | €5,617 | +€3,990 | +245% |
| Taxes, remuneration and social security | 45 | €3,360 | €5,328 | +€1,968 | +58.6% |
| Taxes | 450/3 | €3,360 | €5,328 | +€1,968 | +58.6% |
| Other amounts payable | 47/48 | €3,820 | €115,722 | +€111,902 | +2,929% |
| Accrued charges and deferred income | 492/3 | - | €100 | +€100 | |
| Other operating charges | 640/8 | €279 | €1,033 | +€754 | +270% |
| Gross operating margin | 9900 | €63,081 | €55,651 | -€7,431 | -11.8% |
| Operating profit (loss) | 9901 | €62,802 | €54,617 | -€8,185 | -13.0% |
| Financial income | 75/76B | €21 | €2,514 | +€2,493 | +11,755% |
| Recurring financial income | 75 | €21 | €2,514 | +€2,493 | +11,755% |
| Financial charges | 65/66B | €2,300 | €2,971 | +€671 | +29.2% |
| Recurring financial charges | 65 | €2,300 | €2,971 | +€671 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | €60,523 | €54,161 | -€6,362 | -10.5% |
| Income taxes | 67/77 | €12,717 | €12,184 | -€533 | -4.2% |
| Profit (loss) for the period | 9904 | €47,807 | €41,977 | -€5,829 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,807 | €41,977 | -€5,829 | -12.2% |
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 30 October 2026 via checked.be.