GH WOOD: 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 WOOD
Largest movements
- Tangible fixed assets -€14,940
down €14,940 (-7.7%), from €194,560 to €179,619
of which Furniture and vehicles: -€8,382
- Debts after one year -€44,580
down €44,580 (-21.1%), from €211,418 to €166,838
- Profit (loss) carried forward +€44,163
up €44,163 (+51.3%), from €86,162 to €130,326
- Tax, wage and social debts -€9,775
down €9,775 (-48.4%), from €20,211 to €10,435
of which Taxes: -€5,175
- Trade debts -€5,554
down €5,554 (-72.3%), from €7,686 to €2,132
- Gross operating margin +€17,792
up €17,792 (+25.6%), from €69,556 to €87,348
- Taxes +€2,817
up €2,817 (+18.8%), from €14,994 to €17,811
- Financial charges -€1,486
down €1,486 (-13.2%), from €11,256 to €9,769
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 | €410,537 | €392,387 | -€18,150 | -4.4% |
| Fixed assets | 21/28 | €394,560 | €379,619 | -€14,940 | -3.8% |
| Tangible fixed assets | 22/27 | €194,560 | €179,619 | -€14,940 | -7.7% |
| Land and buildings | 22 | €186,178 | €179,619 | -€6,559 | -3.5% |
| Furniture and vehicles | 24 | €8,382 | €0 | -€8,382 | -100% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €15,978 | €12,768 | -€3,210 | -20.1% |
| Amounts receivable within one year | 40/41 | €8,470 | €8,789 | +€319 | +3.8% |
| Trade receivables | 40 | €8,470 | €7,600 | -€870 | -10.3% |
| Other amounts receivable | 41 | - | €1,189 | +€1,189 | |
| Cash at bank and in hand | 54/58 | €6,403 | €2,830 | -€3,574 | -55.8% |
| Deferred charges and accrued income | 490/1 | €1,104 | €1,150 | +€45 | +4.1% |
| Total equity and liabilities | 10/49 | €410,537 | €392,387 | -€18,150 | -4.4% |
| Equity | 10/15 | €103,601 | €147,764 | +€44,163 | +42.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €2,438 | €2,438 | = | 0.0% |
| Distributable reserves | 133 | €2,438 | €2,438 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,162 | €130,326 | +€44,163 | +51.3% |
| Amounts payable | 17/49 | €306,937 | €244,623 | -€62,314 | -20.3% |
| Amounts payable after more than one year | 17 | €211,418 | €166,838 | -€44,580 | -21.1% |
| Financial debts | 170/4 | €211,418 | €166,838 | -€44,580 | -21.1% |
| Amounts payable within one year | 42/48 | €93,648 | €76,348 | -€17,300 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €44,349 | €44,580 | +€232 | +0.5% |
| Trade debts | 44 | €7,686 | €2,132 | -€5,554 | -72.3% |
| Suppliers | 440/4 | €7,686 | €2,132 | -€5,554 | -72.3% |
| Taxes, remuneration and social security | 45 | €20,211 | €10,435 | -€9,775 | -48.4% |
| Taxes | 450/3 | €14,623 | €9,448 | -€5,175 | -35.4% |
| Remuneration and social security | 454/9 | €5,588 | €987 | -€4,600 | -82.3% |
| Other amounts payable | 47/48 | €21,403 | €19,200 | -€2,203 | -10.3% |
| Accrued charges and deferred income | 492/3 | €1,870 | €1,437 | -€433 | -23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,940 | €14,940 | +€0 | 0.0% |
| Other operating charges | 640/8 | €644 | €664 | +€20 | +3.1% |
| Gross operating margin | 9900 | €69,556 | €87,348 | +€17,792 | +25.6% |
| Operating profit (loss) | 9901 | €53,972 | €71,744 | +€17,773 | +32.9% |
| Financial charges | 65/66B | €11,256 | €9,769 | -€1,486 | -13.2% |
| Recurring financial charges | 65 | €11,256 | €9,769 | -€1,486 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €42,716 | €61,975 | +€19,259 | +45.1% |
| Income taxes | 67/77 | €14,994 | €17,811 | +€2,817 | +18.8% |
| Profit (loss) for the period | 9904 | €27,722 | €44,163 | +€16,441 | +59.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,722 | €44,163 | +€16,441 | +59.3% |
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 29 October 2026 via checked.be.