GH PROJECTS: 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 PROJECTS
Largest movements
- Tangible fixed assets +€54,309
up €54,309 (+215.0%), from €25,262 to €79,570
of which Furniture and vehicles: +€47,188
- Receivables within one year +€4,916
up €4,916 (+19.5%), from €25,148 to €30,064
of which Other amounts receivable: +€10,164
- Reserves +€68,357
up €68,357 (+60.1%), from €113,788 to €182,145
of which Distributable reserves: +€68,357
- Tax, wage and social debts -€5,844
down €5,844 (-24.3%), from €24,025 to €18,180
of which Taxes: -€5,844
- Trade debts +€5,076
up €5,076 (+110.6%), from €4,591 to €9,667
- Other debts -€3,479
down €3,479 (-67.6%), from €5,145 to €1,666
- Gross operating margin +€41,960
up €41,960 (+53.7%), from €78,154 to €120,114
- Taxes +€12,128
up €12,128 (+51.8%), from €23,404 to €35,533
- Depreciation +€6,218
up €6,218 (+81.6%), from €7,623 to €13,840
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €166,611 | €230,281 | +€63,670 | +38.2% |
| Fixed assets | 21/28 | €25,262 | €80,590 | +€55,328 | +219.0% |
| Intangible fixed assets | 21 | - | €1,020 | +€1,020 | |
| Tangible fixed assets | 22/27 | €25,262 | €79,570 | +€54,309 | +215.0% |
| Plant, machinery and equipment | 23 | €3,411 | €8,589 | +€5,178 | +151.8% |
| Furniture and vehicles | 24 | €21,851 | €69,038 | +€47,188 | +216.0% |
| Other tangible fixed assets | 26 | - | €1,943 | +€1,943 | |
| Current assets | 29/58 | €141,349 | €149,690 | +€8,342 | +5.9% |
| Stocks and contracts in progress | 3 | €16,457 | €17,902 | +€1,445 | +8.8% |
| Stocks | 30/36 | €16,457 | €17,902 | +€1,445 | +8.8% |
| Amounts receivable within one year | 40/41 | €25,148 | €30,064 | +€4,916 | +19.5% |
| Trade receivables | 40 | €24,704 | €19,456 | -€5,248 | -21.2% |
| Other amounts receivable | 41 | €444 | €10,608 | +€10,164 | +2288.3% |
| Cash at bank and in hand | 54/58 | €96,883 | €98,443 | +€1,559 | +1.6% |
| Deferred charges and accrued income | 490/1 | €2,860 | €3,281 | +€421 | +14.7% |
| Total equity and liabilities | 10/49 | €166,611 | €230,281 | +€63,670 | +38.2% |
| Equity | 10/15 | €132,388 | €200,745 | +€68,357 | +51.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €113,788 | €182,145 | +€68,357 | +60.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €113,788 | €182,145 | +€68,357 | +60.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €34,222 | €29,536 | -€4,686 | -13.7% |
| Amounts payable within one year | 42/48 | €33,761 | €29,513 | -€4,248 | -12.6% |
| Trade debts | 44 | €4,591 | €9,667 | +€5,076 | +110.6% |
| Suppliers | 440/4 | €4,591 | €9,667 | +€5,076 | +110.6% |
| Taxes, remuneration and social security | 45 | €24,025 | €18,180 | -€5,844 | -24.3% |
| Taxes | 450/3 | €24,025 | €18,180 | -€5,844 | -24.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,145 | €1,666 | -€3,479 | -67.6% |
| Accrued charges and deferred income | 492/3 | €461 | €23 | -€438 | -95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,623 | €13,840 | +€6,218 | +81.6% |
| Other operating charges | 640/8 | €1,029 | €1,117 | +€88 | +8.6% |
| Gross operating margin | 9900 | €78,154 | €120,114 | +€41,960 | +53.7% |
| Operating profit (loss) | 9901 | €69,503 | €105,157 | +€35,654 | +51.3% |
| Financial income | 75/76B | €40 | €504 | +€464 | +1153.2% |
| Recurring financial income | 75 | €40 | €504 | +€464 | +1153.2% |
| Financial charges | 65/66B | €536 | €106 | -€430 | -80.3% |
| Recurring financial charges | 65 | €536 | €106 | -€430 | -80.3% |
| Profit (loss) for the period before taxes | 9903 | €69,007 | €105,555 | +€36,548 | +53.0% |
| Income taxes | 67/77 | €23,404 | €35,533 | +€12,128 | +51.8% |
| Profit (loss) for the period | 9904 | €45,603 | €70,023 | +€24,420 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,603 | €70,023 | +€24,420 | +53.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.