GHESCONSULT: 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.
GHESCONSULT
Largest movements
- Tangible fixed assets -€80,131
down €80,131 (-24.3%), from €329,641 to €249,510
of which Land and buildings: -€79,957
- Debts after one year -€88,872
no longer reported in 2025 (was €88,872)
- Other debts +€19,410
up €19,410 (+23.2%), from €83,797 to €103,207
- Current portion of long-term debt -€18,268
down €18,268 (-80.4%), from €22,716 to €4,448
- Gross operating margin -€5,269
down €5,269 (-29.7%), from €17,759 to €12,490
- Financial income -€5,249
down €5,249 (-23.7%), from €22,162 to €16,912
- Depreciation -€4,264
down €4,264 (-18.7%), from €22,798 to €18,535
- Financial charges +€2,377
up €2,377 (+83.8%), from €2,837 to €5,214
- Taxes -€2,340
down €2,340 (-67.5%), from €3,469 to €1,128
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,020,207 | €937,569 | -€82,638 | -8.1% |
| Fixed assets | 21/28 | €356,985 | €276,855 | -€80,131 | -22.4% |
| Tangible fixed assets | 22/27 | €329,641 | €249,510 | -€80,131 | -24.3% |
| Land and buildings | 22 | €329,467 | €249,510 | -€79,957 | -24.3% |
| Furniture and vehicles | 24 | €174 | - | -€174 | |
| Financial fixed assets | 28 | €27,344 | €27,344 | = | 0.0% |
| Current assets | 29/58 | €663,222 | €660,715 | -€2,507 | -0.4% |
| Amounts receivable after more than one year | 29 | €574,000 | €574,000 | = | 0.0% |
| Other amounts receivable | 291 | €574,000 | €574,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €88,351 | €85,646 | -€2,705 | -3.1% |
| Trade receivables | 40 | €65 | €1,298 | +€1,233 | +1,896% |
| Other amounts receivable | 41 | €88,286 | €84,348 | -€3,938 | -4.5% |
| Current investments | 50/53 | €102 | €180 | +€78 | +77.0% |
| Deferred charges and accrued income | 490/1 | €770 | €889 | +€120 | +15.5% |
| Total equity and liabilities | 10/49 | €1,020,207 | €937,569 | -€82,638 | -8.1% |
| Equity | 10/15 | €741,812 | €742,627 | +€816 | +0.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €735,615 | €736,430 | +€816 | +0.1% |
| Distributable reserves | 133 | €735,615 | €736,430 | +€816 | +0.1% |
| Amounts payable | 17/49 | €278,395 | €194,942 | -€83,453 | -30.0% |
| Amounts payable after more than one year | 17 | €88,872 | - | -€88,872 | |
| Financial debts | 170/4 | €88,872 | - | -€88,872 | |
| Amounts payable within one year | 42/48 | €189,523 | €194,942 | +€5,419 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €22,716 | €4,448 | -€18,268 | -80.4% |
| Trade debts | 44 | €15,878 | €21,645 | +€5,766 | +36.3% |
| Suppliers | 440/4 | €15,878 | €21,645 | +€5,766 | +36.3% |
| Advances received on contracts in progress | 46 | €63,090 | €63,090 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,042 | €2,552 | -€1,489 | -36.8% |
| Taxes | 450/3 | €4,042 | €2,552 | -€1,489 | -36.8% |
| Other amounts payable | 47/48 | €83,797 | €103,207 | +€19,410 | +23.2% |
| Non-recurring operating income | 76A | - | €7,837 | +€7,837 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,798 | €18,535 | -€4,264 | -18.7% |
| Other operating charges | 640/8 | €3,626 | €3,710 | +€84 | +2.3% |
| Gross operating margin | 9900 | €17,759 | €12,490 | -€5,269 | -29.7% |
| Operating profit (loss) | 9901 | -€8,666 | -€9,755 | -€1,089 | -12.6% |
| Financial income | 75/76B | €22,162 | €16,912 | -€5,249 | -23.7% |
| Recurring financial income | 75 | €22,162 | €16,912 | -€5,249 | -23.7% |
| Financial charges | 65/66B | €2,837 | €5,214 | +€2,377 | +83.8% |
| Recurring financial charges | 65 | €2,837 | €5,214 | +€2,377 | +83.8% |
| Profit (loss) for the period before taxes | 9903 | €10,658 | €1,944 | -€8,715 | -81.8% |
| Income taxes | 67/77 | €3,469 | €1,128 | -€2,340 | -67.5% |
| Profit (loss) for the period | 9904 | €7,190 | €816 | -€6,374 | -88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,190 | €816 | -€6,374 | -88.7% |
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 17 October 2026 via checked.be.