GHIJS: 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.
GHIJS
Largest movements
- Cash +€74,914
up €74,914 (+20.2%), from €370,198 to €445,112
mainly Net result for the year (+€186,683) and Depreciation (+€107,466)
- Current investments +€57,677
up €57,677 (+12.8%), from €450,450 to €508,127
- Intangible fixed assets -€56,586
down €56,586 (-18.1%), from €313,061 to €256,476
- Tangible fixed assets -€54,216
down €54,216 (-8.8%), from €617,177 to €562,961
of which Land and buildings: -€29,100
- Debts after one year -€69,816
down €69,816 (-22.7%), from €307,404 to €237,588
- Reserves +€42,100
up €42,100 (+3.4%), from €1.2m to €1.3m
of which Distributable reserves: +€42,100
- Current portion of long-term debt +€35,509
up €35,509 (+44.4%), from €79,959 to €115,468
- Other debts +€26,843
up €26,843 (+892%), from €3,011 to €29,854
- Staff costs +€81,734
up €81,734 (+24.6%), from €332,595 to €414,329
- Gross operating margin +€10,514
up €10,514 (+1.3%), from €803,449 to €813,963
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 | €1,818,462 | €1,854,934 | +€36,472 | +2.0% |
| Fixed assets | 21/28 | €930,427 | €819,437 | -€110,991 | -11.9% |
| Intangible fixed assets | 21 | €313,061 | €256,476 | -€56,586 | -18.1% |
| Tangible fixed assets | 22/27 | €617,177 | €562,961 | -€54,216 | -8.8% |
| Land and buildings | 22 | €574,153 | €545,052 | -€29,100 | -5.1% |
| Plant, machinery and equipment | 23 | €2,773 | €703 | -€2,069 | -74.6% |
| Furniture and vehicles | 24 | €40,251 | €17,205 | -€23,046 | -57.3% |
| Financial fixed assets | 28 | €189 | €0 | -€189 | -100% |
| Current assets | 29/58 | €888,034 | €1,035,497 | +€147,463 | +16.6% |
| Amounts receivable within one year | 40/41 | €66,328 | €78,644 | +€12,316 | +18.6% |
| Trade receivables | 40 | €4,788 | €246 | -€4,542 | -94.9% |
| Other amounts receivable | 41 | €61,540 | €78,398 | +€16,858 | +27.4% |
| Current investments | 50/53 | €450,450 | €508,127 | +€57,677 | +12.8% |
| Cash at bank and in hand | 54/58 | €370,198 | €445,112 | +€74,914 | +20.2% |
| Deferred charges and accrued income | 490/1 | €1,058 | €3,614 | +€2,555 | +241% |
| Total equity and liabilities | 10/49 | €1,818,462 | €1,854,934 | +€36,472 | +2.0% |
| Equity | 10/15 | €1,262,063 | €1,305,399 | +€43,335 | +3.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,248,730 | €1,290,830 | +€42,100 | +3.4% |
| Tax-exempt reserves | 132 | €1,707 | €1,707 | = | 0.0% |
| Distributable reserves | 133 | €1,247,024 | €1,289,124 | +€42,100 | +3.4% |
| Profit (loss) carried forward | 14 | €933 | €2,168 | +€1,235 | +132% |
| Amounts payable | 17/49 | €556,398 | €549,535 | -€6,863 | -1.2% |
| Amounts payable after more than one year | 17 | €307,404 | €237,588 | -€69,816 | -22.7% |
| Financial debts | 170/4 | €307,404 | €237,588 | -€69,816 | -22.7% |
| Amounts payable within one year | 42/48 | €241,457 | €308,227 | +€66,770 | +27.7% |
| Current portion of amounts payable after more than one year | 42 | €79,959 | €115,468 | +€35,509 | +44.4% |
| Trade debts | 44 | €65,873 | €66,290 | +€418 | +0.6% |
| Suppliers | 440/4 | €65,873 | €66,290 | +€418 | +0.6% |
| Taxes, remuneration and social security | 45 | €92,615 | €96,615 | +€4,000 | +4.3% |
| Taxes | 450/3 | €31,354 | €51,035 | +€19,681 | +62.8% |
| Remuneration and social security | 454/9 | €61,261 | €45,580 | -€15,681 | -25.6% |
| Other amounts payable | 47/48 | €3,011 | €29,854 | +€26,843 | +892% |
| Accrued charges and deferred income | 492/3 | €7,537 | €3,719 | -€3,818 | -50.7% |
| Remuneration, social security and pensions | 62 | €332,595 | €414,329 | +€81,734 | +24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,697 | €107,466 | -€2,231 | -2.0% |
| Other operating charges | 640/8 | €4,969 | €4,188 | -€781 | -15.7% |
| Gross operating margin | 9900 | €803,449 | €813,963 | +€10,514 | +1.3% |
| Operating profit (loss) | 9901 | €356,188 | €287,979 | -€68,209 | -19.1% |
| Financial income | 75/76B | €7,955 | €10,048 | +€2,093 | +26.3% |
| Recurring financial income | 75 | €7,955 | €10,048 | +€2,093 | +26.3% |
| Financial charges | 65/66B | €10,632 | €11,961 | +€1,329 | +12.5% |
| Recurring financial charges | 65 | €10,632 | €11,961 | +€1,329 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €353,511 | €286,065 | -€67,445 | -19.1% |
| Income taxes | 67/77 | €107,010 | €99,383 | -€7,627 | -7.1% |
| Profit (loss) for the period | 9904 | €246,501 | €186,683 | -€59,818 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €246,501 | €186,683 | -€59,818 | -24.3% |
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 26 October 2026 via checked.be.