GHfurn: 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.
GHfurn
Largest movements
- Stocks and contracts +€60,160
up €60,160 (+30.9%), from €194,965 to €255,125
- Tangible fixed assets -€22,415
down €22,415 (-6.9%), from €326,168 to €303,753
- Cash -€18,761
down €18,761 (-30.1%), from €62,315 to €43,555
mainly Stocks and contracts (-€60,160) and Debts after one year (-€22,451)
- Receivables within one year -€7,644
down €7,644 (-11.4%), from €67,163 to €59,519
of which Trade receivables: -€8,944
- Profit (loss) carried forward +€42,058
up €42,058 (+26.1%), from €161,122 to €203,180
- Debts after one year -€22,451
down €22,451 (-8.7%), from €258,439 to €235,988
- Tax, wage and social debts -€22,136
down €22,136 (-61.8%), from €35,842 to €13,705
- Accrued charges and deferred income +€10,462
new in 2025: €10,462
- Gross operating margin -€16,709
down €16,709 (-14.4%), from €116,199 to €99,490
- Financial charges +€9,995
up €9,995 (+91.1%), from €10,972 to €20,967
- Taxes -€4,072
down €4,072 (-25.8%), from €15,772 to €11,700
- Depreciation -€2,599
down €2,599 (-10.2%), from €25,366 to €22,767
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 | €654,879 | €665,951 | +€11,072 | +1.7% |
| Fixed assets | 21/28 | €326,520 | €303,753 | -€22,767 | -7.0% |
| Intangible fixed assets | 21 | €352 | €0 | -€352 | -100% |
| Tangible fixed assets | 22/27 | €326,168 | €303,753 | -€22,415 | -6.9% |
| Land and buildings | 22 | €304,964 | €294,398 | -€10,566 | -3.5% |
| Plant, machinery and equipment | 23 | €9,453 | €6,111 | -€3,342 | -35.4% |
| Furniture and vehicles | 24 | €11,751 | €3,244 | -€8,507 | -72.4% |
| Current assets | 29/58 | €328,359 | €362,198 | +€33,839 | +10.3% |
| Stocks and contracts in progress | 3 | €194,965 | €255,125 | +€60,160 | +30.9% |
| Stocks | 30/36 | €194,965 | €255,125 | +€60,160 | +30.9% |
| Amounts receivable within one year | 40/41 | €67,163 | €59,519 | -€7,644 | -11.4% |
| Trade receivables | 40 | €67,163 | €58,219 | -€8,944 | -13.3% |
| Other amounts receivable | 41 | - | €1,300 | +€1,300 | |
| Cash at bank and in hand | 54/58 | €62,315 | €43,555 | -€18,761 | -30.1% |
| Deferred charges and accrued income | 490/1 | €3,916 | €3,999 | +€84 | +2.1% |
| Total equity and liabilities | 10/49 | €654,879 | €665,951 | +€11,072 | +1.7% |
| Equity | 10/15 | €166,122 | €208,180 | +€42,058 | +25.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €161,122 | €203,180 | +€42,058 | +26.1% |
| Amounts payable | 17/49 | €488,757 | €457,771 | -€30,986 | -6.3% |
| Amounts payable after more than one year | 17 | €258,439 | €235,988 | -€22,451 | -8.7% |
| Financial debts | 170/4 | €258,439 | €235,988 | -€22,451 | -8.7% |
| Amounts payable within one year | 42/48 | €230,318 | €211,321 | -€18,997 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €21,694 | €22,451 | +€758 | +3.5% |
| Trade debts | 44 | €25,400 | €26,998 | +€1,598 | +6.3% |
| Suppliers | 440/4 | €25,400 | €26,998 | +€1,598 | +6.3% |
| Taxes, remuneration and social security | 45 | €35,842 | €13,705 | -€22,136 | -61.8% |
| Taxes | 450/3 | €35,842 | €13,705 | -€22,136 | -61.8% |
| Other amounts payable | 47/48 | €147,383 | €148,166 | +€784 | +0.5% |
| Accrued charges and deferred income | 492/3 | - | €10,462 | +€10,462 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,366 | €22,767 | -€2,599 | -10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €562 | €0 | -€562 | -100% |
| Other operating charges | 640/8 | €4,027 | €3,313 | -€713 | -17.7% |
| Gross operating margin | 9900 | €116,199 | €99,490 | -€16,709 | -14.4% |
| Operating profit (loss) | 9901 | €86,245 | €73,410 | -€12,835 | -14.9% |
| Financial income | 75/76B | €1,220 | €1,315 | +€95 | +7.8% |
| Recurring financial income | 75 | €1,220 | €1,315 | +€95 | +7.8% |
| Financial charges | 65/66B | €10,972 | €20,967 | +€9,995 | +91.1% |
| Recurring financial charges | 65 | €10,972 | €20,967 | +€9,995 | +91.1% |
| Profit (loss) for the period before taxes | 9903 | €76,493 | €53,759 | -€22,735 | -29.7% |
| Income taxes | 67/77 | €15,772 | €11,700 | -€4,072 | -25.8% |
| Profit (loss) for the period | 9904 | €60,721 | €42,058 | -€18,663 | -30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €60,721 | €42,058 | -€18,663 | -30.7% |
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 19 October 2026 via checked.be.