GH-Groep: 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.
GH-Groep
Largest movements
- Cash +€95,474
up €95,474 (+6,506%), from €1,468 to €96,941
mainly Net result for the year (+€84,613) and Depreciation (+€26,825)
- Tangible fixed assets -€8,972
down €8,972 (-1.5%), from €611,320 to €602,348
of which Land and buildings: -€19,972
- Deferred charges and accrued income +€8,000
new in 2025: €8,000
- Profit (loss) carried forward +€84,613
up €84,613 (+44.7%), from €189,322 to €273,935
- Tax, wage and social debts +€26,200
up €26,200 (+3,798%), from €690 to €26,890
- Debts after one year -€26,060
down €26,060 (-6.0%), from €431,111 to €405,052
- Gross operating margin +€110,787
up €110,787 (+184%), from €60,374 to €171,161
- Taxes +€22,490
up €22,490 (+1,172%), from €1,919 to €24,409
- Financial charges -€11,899
down €11,899 (-34.1%), from €34,857 to €22,958
- Other operating charges +€5,432
up €5,432 (+78.3%), from €6,941 to €12,373
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 | €685,783 | €778,052 | +€92,269 | +13.5% |
| Fixed assets | 21/28 | €611,320 | €602,348 | -€8,972 | -1.5% |
| Tangible fixed assets | 22/27 | €611,320 | €602,348 | -€8,972 | -1.5% |
| Land and buildings | 22 | €609,718 | €589,746 | -€19,972 | -3.3% |
| Plant, machinery and equipment | 23 | €1,602 | €700 | -€902 | -56.3% |
| Furniture and vehicles | 24 | - | €11,902 | +€11,902 | |
| Current assets | 29/58 | €74,463 | €175,705 | +€101,242 | +136% |
| Amounts receivable within one year | 40/41 | €72,996 | €70,763 | -€2,232 | -3.1% |
| Trade receivables | 40 | €13,862 | €59,707 | +€45,845 | +331% |
| Other amounts receivable | 41 | €59,134 | €11,056 | -€48,077 | -81.3% |
| Cash at bank and in hand | 54/58 | €1,468 | €96,941 | +€95,474 | +6,506% |
| Deferred charges and accrued income | 490/1 | - | €8,000 | +€8,000 | |
| Total equity and liabilities | 10/49 | €685,783 | €778,052 | +€92,269 | +13.5% |
| Equity | 10/15 | €194,322 | €278,935 | +€84,613 | +43.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €189,322 | €273,935 | +€84,613 | +44.7% |
| Amounts payable | 17/49 | €491,461 | €499,117 | +€7,656 | +1.6% |
| Amounts payable after more than one year | 17 | €431,111 | €405,052 | -€26,060 | -6.0% |
| Financial debts | 170/4 | €431,111 | €405,052 | -€26,060 | -6.0% |
| Amounts payable within one year | 42/48 | €60,350 | €94,066 | +€33,716 | +55.9% |
| Current portion of amounts payable after more than one year | 42 | €27,839 | €35,151 | +€7,312 | +26.3% |
| Trade debts | 44 | €28,731 | €28,935 | +€204 | +0.7% |
| Suppliers | 440/4 | €28,731 | €28,935 | +€204 | +0.7% |
| Taxes, remuneration and social security | 45 | €690 | €26,890 | +€26,200 | +3,798% |
| Taxes | 450/3 | €690 | €26,890 | +€26,200 | +3,798% |
| Other amounts payable | 47/48 | €3,090 | €3,090 | = | 0.0% |
| Non-recurring operating income | 76A | - | €9,348 | +€9,348 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,805 | €26,825 | -€980 | -3.5% |
| Other operating charges | 640/8 | €6,941 | €12,373 | +€5,432 | +78.3% |
| Gross operating margin | 9900 | €60,374 | €171,161 | +€110,787 | +184% |
| Operating profit (loss) | 9901 | €25,628 | €131,963 | +€106,335 | +415% |
| Financial income | 75/76B | €39 | €17 | -€22 | -56.2% |
| Recurring financial income | 75 | €39 | €17 | -€22 | -56.2% |
| Financial charges | 65/66B | €34,857 | €22,958 | -€11,899 | -34.1% |
| Recurring financial charges | 65 | €34,857 | €22,958 | -€11,899 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,190 | €109,022 | +€118,212 | |
| Income taxes | 67/77 | €1,919 | €24,409 | +€22,490 | +1,172% |
| Profit (loss) for the period | 9904 | -€11,109 | €84,613 | +€95,722 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,109 | €84,613 | +€95,722 |
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 17 October 2026 via checked.be.