GH-works: 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-works
Largest movements
- Tangible fixed assets -€14,304
down €14,304 (-14.9%), from €96,260 to €81,956
of which Furniture and vehicles: -€14,525
- Receivables within one year +€2,418
up €2,418 (+33.4%), from €7,238 to €9,656
of which Other amounts receivable: +€1,567
- Debts after one year -€18,916
down €18,916 (-29.5%), from €64,047 to €45,131
- Reserves +€10,125
up €10,125 (+10.1%), from €100,029 to €110,154
of which Distributable reserves: +€10,125
- Tax, wage and social debts -€5,405
down €5,405 (-82.7%), from €6,537 to €1,132
- Gross operating margin +€11,061
up €11,061 (+49.0%), from €22,578 to €33,639
- Taxes +€3,668
up €3,668 (+479%), from €765 to €4,433
- Depreciation -€1,793
down €1,793 (-10.7%), from €16,702 to €14,909
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 | €214,970 | €201,093 | -€13,877 | -6.5% |
| Fixed assets | 21/28 | €96,260 | €81,956 | -€14,304 | -14.9% |
| Tangible fixed assets | 22/27 | €96,260 | €81,956 | -€14,304 | -14.9% |
| Plant, machinery and equipment | 23 | €485 | €706 | +€221 | +45.6% |
| Furniture and vehicles | 24 | €95,775 | €81,250 | -€14,525 | -15.2% |
| Current assets | 29/58 | €118,710 | €119,137 | +€427 | +0.4% |
| Amounts receivable within one year | 40/41 | €7,238 | €9,656 | +€2,418 | +33.4% |
| Trade receivables | 40 | €5,503 | €6,354 | +€851 | +15.5% |
| Other amounts receivable | 41 | €1,735 | €3,302 | +€1,567 | +90.3% |
| Cash at bank and in hand | 54/58 | €111,472 | €109,481 | -€1,991 | -1.8% |
| Total equity and liabilities | 10/49 | €214,970 | €201,093 | -€13,877 | -6.5% |
| Equity | 10/15 | €106,229 | €116,354 | +€10,125 | +9.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €100,029 | €110,154 | +€10,125 | +10.1% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €98,174 | €108,299 | +€10,125 | +10.3% |
| Amounts payable | 17/49 | €108,741 | €84,739 | -€24,002 | -22.1% |
| Amounts payable after more than one year | 17 | €64,047 | €45,131 | -€18,916 | -29.5% |
| Financial debts | 170/4 | €64,047 | €45,131 | -€18,916 | -29.5% |
| Amounts payable within one year | 42/48 | €42,819 | €37,733 | -€5,086 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €18,248 | €18,916 | +€668 | +3.7% |
| Trade debts | 44 | €2,366 | €3,481 | +€1,115 | +47.1% |
| Suppliers | 440/4 | €2,366 | €3,481 | +€1,115 | +47.1% |
| Taxes, remuneration and social security | 45 | €6,537 | €1,132 | -€5,405 | -82.7% |
| Taxes | 450/3 | €6,537 | €1,132 | -€5,405 | -82.7% |
| Other amounts payable | 47/48 | €15,668 | €14,204 | -€1,464 | -9.3% |
| Accrued charges and deferred income | 492/3 | €1,875 | €1,875 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,702 | €14,909 | -€1,793 | -10.7% |
| Other operating charges | 640/8 | €1,270 | €1,437 | +€167 | +13.1% |
| Gross operating margin | 9900 | €22,578 | €33,639 | +€11,061 | +49.0% |
| Operating profit (loss) | 9901 | €4,606 | €17,293 | +€12,687 | +275% |
| Financial charges | 65/66B | €2,624 | €2,735 | +€111 | +4.2% |
| Recurring financial charges | 65 | €2,624 | €2,735 | +€111 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €1,982 | €14,558 | +€12,576 | +635% |
| Income taxes | 67/77 | €765 | €4,433 | +€3,668 | +479% |
| Profit (loss) for the period | 9904 | €1,217 | €10,125 | +€8,908 | +732% |
| Profit (loss) for the period to be appropriated | 9905 | €1,217 | €10,125 | +€8,908 | +732% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.