GH & MY: 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 & MY
Largest movements
- Tangible fixed assets +€860,268
up €860,268 (+11472.4%), from €7,499 to €867,767
of which Land and buildings: +€850,884
- Cash -€62,830
down €62,830 (-64.7%), from €97,182 to €34,353
mainly Investment in fixed assets (net) (-€902,695) and Net result for the year (-€35,085)
- Stocks and contracts +€9,850
up €9,850 (+53.2%), from €18,512 to €28,362
- Debts after one year +€708,886
up €708,886 (+58772.6%), from €1,206 to €710,092
- Other debts +€78,826
new in 2025: €78,826
- Trade debts +€61,715
up €61,715 (+614.8%), from €10,038 to €71,753
- Profit (loss) carried forward -€35,196
down €35,196 (-89.4%), from €39,388 to €4,192
- Tax, wage and social debts -€31,383
down €31,383 (-55.3%), from €56,711 to €25,328
of which Taxes: -€31,700
- Gross operating margin +€39,059
up €39,059 (+44.7%), from €87,476 to €126,535
- Depreciation +€38,154
up €38,154 (+254.5%), from €14,994 to €53,149
- Financial charges +€20,935
up €20,935 (+366.9%), from €5,706 to €26,642
- Other operating charges +€9,289
up €9,289 (+892.3%), from €1,041 to €10,330
- Staff costs +€8,669
up €8,669 (+13.8%), from €62,945 to €71,613
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 | €182,703 | €979,434 | +€796,731 | +436.1% |
| Fixed assets | 21/28 | €42,613 | €892,159 | +€849,546 | +1993.6% |
| Intangible fixed assets | 21 | €31,615 | €24,392 | -€7,222 | -22.8% |
| Tangible fixed assets | 22/27 | €7,499 | €867,767 | +€860,268 | +11472.4% |
| Land and buildings | 22 | - | €850,884 | +€850,884 | |
| Plant, machinery and equipment | 23 | €4,858 | €68 | -€4,790 | -98.6% |
| Furniture and vehicles | 24 | €1,321 | €1,168 | -€154 | -11.6% |
| Other tangible fixed assets | 26 | €1,319 | €15,647 | +€14,328 | +1086.2% |
| Financial fixed assets | 28 | €3,500 | - | -€3,500 | |
| Current assets | 29/58 | €140,089 | €87,274 | -€52,815 | -37.7% |
| Stocks and contracts in progress | 3 | €18,512 | €28,362 | +€9,850 | +53.2% |
| Stocks | 30/36 | €18,512 | €28,362 | +€9,850 | +53.2% |
| Amounts receivable within one year | 40/41 | €24,315 | €24,559 | +€244 | +1.0% |
| Trade receivables | 40 | €16,802 | €24,559 | +€7,757 | +46.2% |
| Other amounts receivable | 41 | €7,513 | - | -€7,513 | |
| Cash at bank and in hand | 54/58 | €97,182 | €34,353 | -€62,830 | -64.7% |
| Deferred charges and accrued income | 490/1 | €80 | - | -€80 | |
| Total equity and liabilities | 10/49 | €182,703 | €979,434 | +€796,731 | +436.1% |
| Equity | 10/15 | €100,588 | €65,392 | -€35,196 | -35.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €55,000 | €55,000 | = | 0.0% |
| Distributable reserves | 133 | €55,000 | €55,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,388 | €4,192 | -€35,196 | -89.4% |
| Amounts payable | 17/49 | €82,115 | €914,041 | +€831,927 | +1013.1% |
| Amounts payable after more than one year | 17 | €1,206 | €710,092 | +€708,886 | +58772.6% |
| Financial debts | 170/4 | €1,206 | €710,092 | +€708,886 | +58772.6% |
| Amounts payable within one year | 42/48 | €80,908 | €203,950 | +€123,041 | +152.1% |
| Current portion of amounts payable after more than one year | 42 | €14,160 | €28,043 | +€13,883 | +98.0% |
| Trade debts | 44 | €10,038 | €71,753 | +€61,715 | +614.8% |
| Suppliers | 440/4 | €10,038 | €71,753 | +€61,715 | +614.8% |
| Taxes, remuneration and social security | 45 | €56,711 | €25,328 | -€31,383 | -55.3% |
| Taxes | 450/3 | €43,298 | €11,598 | -€31,700 | -73.2% |
| Remuneration and social security | 454/9 | €13,412 | €13,729 | +€317 | +2.4% |
| Other amounts payable | 47/48 | - | €78,826 | +€78,826 | |
| Remuneration, social security and pensions | 62 | €62,945 | €71,613 | +€8,669 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,994 | €53,149 | +€38,154 | +254.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€240 | -€240 | |
| Other operating charges | 640/8 | €1,041 | €10,330 | +€9,289 | +892.3% |
| Gross operating margin | 9900 | €87,476 | €126,535 | +€39,059 | +44.7% |
| Operating profit (loss) | 9901 | €8,497 | -€8,317 | -€16,813 | |
| Financial income | 75/76B | €289 | €47 | -€243 | -83.9% |
| Recurring financial income | 75 | €289 | €47 | -€243 | -83.9% |
| Financial charges | 65/66B | €5,706 | €26,642 | +€20,935 | +366.9% |
| Recurring financial charges | 65 | €5,706 | €26,642 | +€20,935 | +366.9% |
| Profit (loss) for the period before taxes | 9903 | €3,079 | -€34,912 | -€37,991 | |
| Income taxes | 67/77 | €1,697 | €173 | -€1,524 | -89.8% |
| Profit (loss) for the period | 9904 | €1,382 | -€35,085 | -€36,467 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,382 | -€35,085 | -€36,467 |
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 12 October 2026 via checked.be.