GH MEAT: 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.
GH MEAT
Largest movements
- Cash -€106,417
down €106,417 (-58.5%), from €181,960 to €75,542
mainly Trade debts (-€102,817) and Other debts (-€55,045)
- Tangible fixed assets +€29,671
up €29,671 (+684.7%), from €4,334 to €34,004
- Receivables within one year +€19,183
up €19,183 (+1991.7%), from €963 to €20,146
of which Other amounts receivable: +€11,288
- Stocks and contracts -€4,805
down €4,805 (-56.2%), from €8,555 to €3,750
- Formation expenses -€2,500
down €2,500 (-11.1%), from €22,500 to €20,000
- Trade debts -€102,817
down €102,817 (-92.0%), from €111,743 to €8,926
- Other debts -€55,045
no longer reported in 2025 (was €55,045)
- Profit (loss) carried forward +€52,381
up €52,381 (+270.8%), from €19,342 to €71,723
- Tax, wage and social debts +€41,565
up €41,565 (+133.3%), from €31,181 to €72,746
of which Remuneration and social security: +€25,119
- Gross operating margin +€129,787
up €129,787 (+131.4%), from €98,783 to €228,570
- Staff costs +€79,280
up €79,280 (+113.2%), from €70,064 to €149,344
- Taxes +€8,883
up €8,883 (+183.7%), from €4,836 to €13,718
- Depreciation +€7,333
up €7,333 (+176.0%), from €4,167 to €11,499
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 | €218,311 | €154,395 | -€63,916 | -29.3% |
| Formation expenses | 20 | €22,500 | €20,000 | -€2,500 | -11.1% |
| Fixed assets | 21/28 | €4,334 | €34,004 | +€29,671 | +684.7% |
| Tangible fixed assets | 22/27 | €4,334 | €34,004 | +€29,671 | +684.7% |
| Furniture and vehicles | 24 | €4,334 | €34,004 | +€29,671 | +684.7% |
| Current assets | 29/58 | €191,478 | €100,391 | -€91,087 | -47.6% |
| Stocks and contracts in progress | 3 | €8,555 | €3,750 | -€4,805 | -56.2% |
| Stocks | 30/36 | €8,555 | €3,750 | -€4,805 | -56.2% |
| Amounts receivable within one year | 40/41 | €963 | €20,146 | +€19,183 | +1991.7% |
| Trade receivables | 40 | €963 | €8,857 | +€7,894 | +819.7% |
| Other amounts receivable | 41 | - | €11,288 | +€11,288 | |
| Cash at bank and in hand | 54/58 | €181,960 | €75,542 | -€106,417 | -58.5% |
| Deferred charges and accrued income | 490/1 | - | €953 | +€953 | |
| Total equity and liabilities | 10/49 | €218,311 | €154,395 | -€63,916 | -29.3% |
| Equity | 10/15 | €20,342 | €72,723 | +€52,381 | +257.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,342 | €71,723 | +€52,381 | +270.8% |
| Amounts payable | 17/49 | €197,969 | €81,672 | -€116,297 | -58.7% |
| Amounts payable within one year | 42/48 | €197,969 | €81,672 | -€116,297 | -58.7% |
| Trade debts | 44 | €111,743 | €8,926 | -€102,817 | -92.0% |
| Suppliers | 440/4 | €111,743 | €8,926 | -€102,817 | -92.0% |
| Taxes, remuneration and social security | 45 | €31,181 | €72,746 | +€41,565 | +133.3% |
| Taxes | 450/3 | €9,158 | €25,605 | +€16,447 | +179.6% |
| Remuneration and social security | 454/9 | €22,022 | €47,141 | +€25,119 | +114.1% |
| Other amounts payable | 47/48 | €55,045 | - | -€55,045 | |
| Non-recurring operating income | 76A | - | €0 | +€0 | |
| Remuneration, social security and pensions | 62 | €70,064 | €149,344 | +€79,280 | +113.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,167 | €11,499 | +€7,333 | +176.0% |
| Other operating charges | 640/8 | - | €14 | +€14 | |
| Gross operating margin | 9900 | €98,783 | €228,570 | +€129,787 | +131.4% |
| Operating profit (loss) | 9901 | €24,552 | €67,713 | +€43,161 | +175.8% |
| Financial charges | 65/66B | €374 | €1,613 | +€1,239 | +331.1% |
| Recurring financial charges | 65 | €374 | €1,613 | +€1,239 | +331.1% |
| Profit (loss) for the period before taxes | 9903 | €24,178 | €66,099 | +€41,922 | +173.4% |
| Income taxes | 67/77 | €4,836 | €13,718 | +€8,883 | +183.7% |
| Profit (loss) for the period | 9904 | €19,342 | €52,381 | +€33,039 | +170.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,342 | €52,381 | +€33,039 | +170.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.