GHB: 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.
GHB
Largest movements
- Cash +€16,161
up €16,161 (+109%), from €14,801 to €30,961
mainly Net result for the year (+€15,492) and Depreciation (+€15,229)
- Tangible fixed assets -€14,066
down €14,066 (-23.4%), from €60,108 to €46,042
of which Leasing and similar rights: -€9,940
- Receivables within one year +€2,203
up €2,203 (+23.9%), from €9,228 to €11,431
of which Trade receivables: +€4,743
- Reserves +€15,492
up €15,492 (+389%), from €3,978 to €19,470
- Debts after one year -€13,992
down €13,992 (-30.1%), from €46,474 to €32,482
- Trade debts +€2,028
up €2,028 (+61.0%), from €3,326 to €5,354
- Gross operating margin +€56,154
up €56,154, from -€19,850 to €36,303
- Depreciation +€3,468
up €3,468 (+29.5%), from €11,761 to €15,229
- Financial charges +€1,839
up €1,839 (+73.4%), from €2,507 to €4,346
- Other operating charges -€738
down €738 (-37.0%), from €1,998 to €1,259
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 | €89,208 | €93,704 | +€4,495 | +5.0% |
| Fixed assets | 21/28 | €60,108 | €46,042 | -€14,066 | -23.4% |
| Tangible fixed assets | 22/27 | €60,108 | €46,042 | -€14,066 | -23.4% |
| Plant, machinery and equipment | 23 | €1,783 | €2,043 | +€260 | +14.6% |
| Furniture and vehicles | 24 | €21,697 | €17,310 | -€4,387 | -20.2% |
| Leasing and similar rights | 25 | €36,628 | €26,688 | -€9,940 | -27.1% |
| Current assets | 29/58 | €29,100 | €47,662 | +€18,562 | +63.8% |
| Stocks and contracts in progress | 3 | €1,710 | €1,590 | -€120 | -7.0% |
| Stocks | 30/36 | €1,710 | €1,590 | -€120 | -7.0% |
| Amounts receivable within one year | 40/41 | €9,228 | €11,431 | +€2,203 | +23.9% |
| Trade receivables | 40 | €3,977 | €8,720 | +€4,743 | +119% |
| Other amounts receivable | 41 | €5,251 | €2,711 | -€2,540 | -48.4% |
| Cash at bank and in hand | 54/58 | €14,801 | €30,961 | +€16,161 | +109% |
| Deferred charges and accrued income | 490/1 | €3,361 | €3,679 | +€318 | +9.5% |
| Total equity and liabilities | 10/49 | €89,208 | €93,704 | +€4,495 | +5.0% |
| Equity | 10/15 | €25,978 | €41,470 | +€15,492 | +59.6% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €3,978 | €19,470 | +€15,492 | +389% |
| Distributable reserves | 133 | €3,978 | €19,470 | +€15,492 | +389% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €63,230 | €52,234 | -€10,996 | -17.4% |
| Amounts payable after more than one year | 17 | €46,474 | €32,482 | -€13,992 | -30.1% |
| Financial debts | 170/4 | €46,474 | €32,482 | -€13,992 | -30.1% |
| Amounts payable within one year | 42/48 | €16,756 | €19,751 | +€2,996 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €13,273 | €13,992 | +€719 | +5.4% |
| Trade debts | 44 | €3,326 | €5,354 | +€2,028 | +61.0% |
| Suppliers | 440/4 | €3,326 | €5,354 | +€2,028 | +61.0% |
| Taxes, remuneration and social security | 45 | €157 | €406 | +€249 | +158% |
| Taxes | 450/3 | €157 | €406 | +€249 | +158% |
| Non-recurring operating income | 76A | €2,125 | €0 | -€2,125 | -100% |
| Remuneration, social security and pensions | 62 | €27 | €0 | -€27 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,761 | €15,229 | +€3,468 | +29.5% |
| Other operating charges | 640/8 | €1,998 | €1,259 | -€738 | -37.0% |
| Gross operating margin | 9900 | -€19,850 | €36,303 | +€56,154 | |
| Operating profit (loss) | 9901 | -€33,636 | €19,815 | +€53,451 | |
| Financial income | 75/76B | €209 | €193 | -€16 | -7.7% |
| Recurring financial income | 75 | €209 | €193 | -€16 | -7.7% |
| Financial charges | 65/66B | €2,507 | €4,346 | +€1,839 | +73.4% |
| Recurring financial charges | 65 | €2,507 | €4,346 | +€1,839 | +73.4% |
| Profit (loss) for the period before taxes | 9903 | -€35,934 | €15,663 | +€51,596 | |
| Income taxes | 67/77 | €189 | €171 | -€18 | -9.4% |
| Profit (loss) for the period | 9904 | -€36,122 | €15,492 | +€51,614 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,122 | €15,492 | +€51,614 |
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 23 October 2026 via checked.be.