GHD Advisory Services: 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.
GHD Advisory Services
Largest movements
- Receivables after one year +€120,000
new in 2025: €120,000
- Financial fixed assets +€44,587
new in 2025: €44,587
- Cash +€21,151
up €21,151 (+301.3%), from €7,021 to €28,171
mainly Debts after one year (+€121,347) and Other debts (+€49,299)
- Tangible fixed assets -€9,031
down €9,031 (-42.7%), from €21,155 to €12,124
of which Furniture and vehicles: -€8,643
- Receivables within one year -€5,411
down €5,411 (-35.4%), from €15,270 to €9,860
of which Other amounts receivable: -€5,630
- Debts after one year +€121,347
up €121,347 (+804.3%), from €15,088 to €136,435
- Other debts +€49,299
up €49,299 (+1972.0%), from €2,500 to €51,799
- Profit (loss) carried forward -€24,756
down €24,756 (-796.8%), from -€3,107 to -€27,863
- Current portion of long-term debt +€24,670
up €24,670 (+320.6%), from €7,694 to €32,363
- Short-term financial debts +€3,375
new in 2025: €3,375
- Other operating charges -€8,122
down €8,122 (-93.4%), from €8,699 to €577
- Gross operating margin -€7,919
down €7,919, from €2,584 to -€5,335
- Financial charges +€6,262
up €6,262 (+193.2%), from €3,241 to €9,503
- Depreciation +€2,195
up €2,195 (+32.1%), from €6,836 to €9,031
- Financial income -€652
down €652 (-92.1%), from €708 to €56
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 | €43,726 | €215,070 | +€171,344 | +391.9% |
| Fixed assets | 21/28 | €21,155 | €56,711 | +€35,556 | +168.1% |
| Tangible fixed assets | 22/27 | €21,155 | €12,124 | -€9,031 | -42.7% |
| Plant, machinery and equipment | 23 | - | €234 | +€234 | |
| Furniture and vehicles | 24 | €18,501 | €9,858 | -€8,643 | -46.7% |
| Other tangible fixed assets | 26 | €2,654 | €2,033 | -€622 | -23.4% |
| Financial fixed assets | 28 | - | €44,587 | +€44,587 | |
| Current assets | 29/58 | €22,570 | €158,358 | +€135,788 | +601.6% |
| Amounts receivable after more than one year | 29 | - | €120,000 | +€120,000 | |
| Other amounts receivable | 291 | - | €120,000 | +€120,000 | |
| Amounts receivable within one year | 40/41 | €15,270 | €9,860 | -€5,411 | -35.4% |
| Trade receivables | 40 | - | €219 | +€219 | |
| Other amounts receivable | 41 | €15,270 | €9,641 | -€5,630 | -36.9% |
| Cash at bank and in hand | 54/58 | €7,021 | €28,171 | +€21,151 | +301.3% |
| Deferred charges and accrued income | 490/1 | €280 | €328 | +€48 | +17.2% |
| Total equity and liabilities | 10/49 | €43,726 | €215,070 | +€171,344 | +391.9% |
| Equity | 10/15 | -€1,107 | -€25,863 | -€24,756 | -2236.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,107 | -€27,863 | -€24,756 | -796.8% |
| Amounts payable | 17/49 | €44,833 | €240,933 | +€196,100 | +437.4% |
| Amounts payable after more than one year | 17 | €15,088 | €136,435 | +€121,347 | +804.3% |
| Financial debts | 170/4 | €15,088 | €136,435 | +€121,347 | +804.3% |
| Amounts payable within one year | 42/48 | €29,745 | €104,034 | +€74,290 | +249.8% |
| Current portion of amounts payable after more than one year | 42 | €7,694 | €32,363 | +€24,670 | +320.6% |
| Financial debts | 43 | - | €3,375 | +€3,375 | |
| Other loans | 439 | - | €3,375 | +€3,375 | |
| Trade debts | 44 | €3,900 | €3,780 | -€121 | -3.1% |
| Suppliers | 440/4 | €3,900 | €3,780 | -€121 | -3.1% |
| Taxes, remuneration and social security | 45 | €15,651 | €12,717 | -€2,934 | -18.7% |
| Taxes | 450/3 | €15,651 | €12,717 | -€2,934 | -18.7% |
| Other amounts payable | 47/48 | €2,500 | €51,799 | +€49,299 | +1972.0% |
| Accrued charges and deferred income | 492/3 | - | €463 | +€463 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,836 | €9,031 | +€2,195 | +32.1% |
| Other operating charges | 640/8 | €8,699 | €577 | -€8,122 | -93.4% |
| Gross operating margin | 9900 | €2,584 | -€5,335 | -€7,919 | |
| Operating profit (loss) | 9901 | -€12,951 | -€14,943 | -€1,992 | -15.4% |
| Financial income | 75/76B | €708 | €56 | -€652 | -92.1% |
| Recurring financial income | 75 | €708 | €56 | -€652 | -92.1% |
| Financial charges | 65/66B | €3,241 | €9,503 | +€6,262 | +193.2% |
| Recurring financial charges | 65 | €3,241 | €9,503 | +€6,262 | +193.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,483 | -€24,390 | -€8,906 | -57.5% |
| Income taxes | 67/77 | €432 | €366 | -€66 | -15.2% |
| Profit (loss) for the period | 9904 | -€15,915 | -€24,756 | -€8,841 | -55.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,915 | -€24,756 | -€8,841 | -55.5% |
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 7 October 2026 via checked.be.