GHAVERCHOC: 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.
GHAVERCHOC
Largest movements
- Receivables within one year -€26,137
down €26,137 (-91.0%), from €28,716 to €2,578
of which Other amounts receivable: -€26,447
- Tangible fixed assets -€3,093
down €3,093 (-51.6%), from €5,991 to €2,898
of which Plant, machinery and equipment: -€2,664
- Cash +€2,937
up €2,937 (+1.8%), from €159,161 to €162,098
mainly Receivables within one year (+€26,137) and Other debts (+€14,629)
- Financial fixed assets +€2,440
up €2,440 (+54.2%), from €4,500 to €6,940
- Profit (loss) carried forward -€35,612
down €35,612 (-32.0%), from €111,318 to €75,706
- Other debts +€14,629
up €14,629 (+30.1%), from €48,578 to €63,207
- Trade debts -€2,707
no longer reported in 2025 (was €2,707)
- Gross operating margin -€66,106
down €66,106, from €44,881 to -€21,225
- Staff costs -€34,214
no longer reported in 2025 (was €34,214)
- Taxes +€10,658
new in 2025: €10,658
- Other operating charges -€572
no longer reported in 2025 (was €572)
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 | €198,368 | €174,514 | -€23,854 | -12.0% |
| Fixed assets | 21/28 | €10,491 | €9,838 | -€653 | -6.2% |
| Tangible fixed assets | 22/27 | €5,991 | €2,898 | -€3,093 | -51.6% |
| Plant, machinery and equipment | 23 | €5,536 | €2,872 | -€2,664 | -48.1% |
| Furniture and vehicles | 24 | €455 | €26 | -€430 | -94.3% |
| Financial fixed assets | 28 | €4,500 | €6,940 | +€2,440 | +54.2% |
| Current assets | 29/58 | €187,877 | €164,677 | -€23,200 | -12.3% |
| Amounts receivable within one year | 40/41 | €28,716 | €2,578 | -€26,137 | -91.0% |
| Trade receivables | 40 | - | €310 | +€310 | |
| Other amounts receivable | 41 | €28,716 | €2,268 | -€26,447 | -92.1% |
| Cash at bank and in hand | 54/58 | €159,161 | €162,098 | +€2,937 | +1.8% |
| Total equity and liabilities | 10/49 | €198,368 | €174,514 | -€23,854 | -12.0% |
| Equity | 10/15 | €131,778 | €96,166 | -€35,612 | -27.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,318 | €75,706 | -€35,612 | -32.0% |
| Amounts payable | 17/49 | €66,590 | €78,348 | +€11,758 | +17.7% |
| Amounts payable within one year | 42/48 | €66,590 | €78,348 | +€11,758 | +17.7% |
| Trade debts | 44 | €2,707 | - | -€2,707 | |
| Suppliers | 440/4 | €2,707 | - | -€2,707 | |
| Taxes, remuneration and social security | 45 | €15,305 | €15,140 | -€164 | -1.1% |
| Taxes | 450/3 | €14,495 | €3,538 | -€10,957 | -75.6% |
| Remuneration and social security | 454/9 | €810 | €11,602 | +€10,792 | +1332.3% |
| Other amounts payable | 47/48 | €48,578 | €63,207 | +€14,629 | +30.1% |
| Remuneration, social security and pensions | 62 | €34,214 | - | -€34,214 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,093 | €3,093 | = | 0.0% |
| Other operating charges | 640/8 | €572 | - | -€572 | |
| Gross operating margin | 9900 | €44,881 | -€21,225 | -€66,106 | |
| Operating profit (loss) | 9901 | €7,001 | -€24,318 | -€31,320 | |
| Financial charges | 65/66B | €500 | €635 | +€135 | +27.0% |
| Recurring financial charges | 65 | €500 | €635 | +€135 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €6,501 | -€24,954 | -€31,455 | |
| Income taxes | 67/77 | - | €10,658 | +€10,658 | |
| Profit (loss) for the period | 9904 | €6,501 | -€35,612 | -€42,113 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,501 | -€35,612 | -€42,113 |
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 6 October 2026 via checked.be.