GHEYDE: 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.
GHEYDE
Largest movements
- Cash +€84,690
up €84,690 (+966.8%), from €8,760 to €93,449
mainly Net result for the year (+€58,412) and Depreciation (+€40,947)
- Tangible fixed assets -€17,239
down €17,239 (-2.0%), from €847,165 to €829,926
- Reserves +€58,412
up €58,412 (+45.6%), from €128,236 to €186,647
- Debts after one year -€22,153
down €22,153 (-2.9%), from €760,190 to €738,037
- Tax, wage and social debts +€12,466
up €12,466 (+340.1%), from €3,666 to €16,132
of which Taxes: +€14,368
- Trade debts +€12,382
up €12,382 (+8281.5%), from €150 to €12,531
- Gross operating margin +€53,186
up €53,186 (+77.9%), from €68,275 to €121,461
- Taxes +€12,605
up €12,605 (+714.7%), from €1,764 to €14,368
- Other operating charges -€3,782
down €3,782 (-63.1%), from €5,997 to €2,215
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 | €921,360 | €988,375 | +€67,016 | +7.3% |
| Fixed assets | 21/28 | €847,165 | €829,926 | -€17,239 | -2.0% |
| Tangible fixed assets | 22/27 | €847,165 | €829,926 | -€17,239 | -2.0% |
| Land and buildings | 22 | €847,165 | €829,926 | -€17,239 | -2.0% |
| Current assets | 29/58 | €74,195 | €158,449 | +€84,255 | +113.6% |
| Amounts receivable within one year | 40/41 | €65,435 | €65,000 | -€435 | -0.7% |
| Trade receivables | 40 | €65,000 | €65,000 | = | 0.0% |
| Other amounts receivable | 41 | €435 | €0 | -€435 | -100.0% |
| Cash at bank and in hand | 54/58 | €8,760 | €93,449 | +€84,690 | +966.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €921,360 | €988,375 | +€67,016 | +7.3% |
| Equity | 10/15 | €133,236 | €191,647 | +€58,412 | +43.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €128,236 | €186,647 | +€58,412 | +45.6% |
| Distributable reserves | 133 | €128,236 | €186,647 | +€58,412 | +45.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €788,124 | €796,728 | +€8,604 | +1.1% |
| Amounts payable after more than one year | 17 | €760,190 | €738,037 | -€22,153 | -2.9% |
| Financial debts | 170/4 | €760,190 | €738,037 | -€22,153 | -2.9% |
| Amounts payable within one year | 42/48 | €27,934 | €58,691 | +€30,757 | +110.1% |
| Current portion of amounts payable after more than one year | 42 | €22,033 | €22,153 | +€120 | +0.5% |
| Trade debts | 44 | €150 | €12,531 | +€12,382 | +8281.5% |
| Suppliers | 440/4 | €150 | €12,531 | +€12,382 | +8281.5% |
| Taxes, remuneration and social security | 45 | €3,666 | €16,132 | +€12,466 | +340.1% |
| Taxes | 450/3 | €1,764 | €16,132 | +€14,368 | +814.7% |
| Remuneration and social security | 454/9 | €1,902 | €0 | -€1,902 | -100.0% |
| Other amounts payable | 47/48 | €2,086 | €7,875 | +€5,789 | +277.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,818 | €40,947 | +€1,129 | +2.8% |
| Other operating charges | 640/8 | €5,997 | €2,215 | -€3,782 | -63.1% |
| Gross operating margin | 9900 | €68,275 | €121,461 | +€53,186 | +77.9% |
| Operating profit (loss) | 9901 | €22,460 | €78,299 | +€55,840 | +248.6% |
| Financial income | 75/76B | €7 | €0 | -€7 | -100.0% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -100.0% |
| Financial charges | 65/66B | €5,879 | €5,519 | -€360 | -6.1% |
| Recurring financial charges | 65 | €5,879 | €5,519 | -€360 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €16,588 | €72,780 | +€56,192 | +338.8% |
| Income taxes | 67/77 | €1,764 | €14,368 | +€12,605 | +714.7% |
| Profit (loss) for the period | 9904 | €14,824 | €58,412 | +€43,588 | +294.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,824 | €58,412 | +€43,588 | +294.0% |
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.