GHJ: 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.
GHJ
Largest movements
- Tangible fixed assets +€253,837
up €253,837 (+2656.4%), from €9,556 to €263,393
of which Land and buildings: +€255,000
- Cash +€23,575
up €23,575 (+5.6%), from €420,063 to €443,638
mainly Net result for the year (+€271,461) and Depreciation (+€33,061)
- Reserves +€271,461
up €271,461 (+79.7%), from €340,778 to €612,239
- Depreciation +€30,613
up €30,613 (+1250.7%), from €2,448 to €33,061
- Gross operating margin +€18,487
up €18,487 (+4.7%), from €391,154 to €409,641
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 | €429,920 | €707,031 | +€277,111 | +64.5% |
| Fixed assets | 21/28 | €9,556 | €263,393 | +€253,837 | +2656.4% |
| Tangible fixed assets | 22/27 | €9,556 | €263,393 | +€253,837 | +2656.4% |
| Land and buildings | 22 | - | €255,000 | +€255,000 | |
| Furniture and vehicles | 24 | €9,556 | €8,393 | -€1,163 | -12.2% |
| Current assets | 29/58 | €420,364 | €443,638 | +€23,274 | +5.5% |
| Amounts receivable within one year | 40/41 | €301 | €0 | -€301 | -100.0% |
| Other amounts receivable | 41 | €301 | €0 | -€301 | -100.0% |
| Cash at bank and in hand | 54/58 | €420,063 | €443,638 | +€23,575 | +5.6% |
| Total equity and liabilities | 10/49 | €429,920 | €707,031 | +€277,111 | +64.5% |
| Equity | 10/15 | €345,578 | €617,039 | +€271,461 | +78.6% |
| Contributions | 10/11 | €4,800 | €4,800 | = | 0.0% |
| Reserves | 13 | €340,778 | €612,239 | +€271,461 | +79.7% |
| Distributable reserves | 133 | €340,778 | €612,239 | +€271,461 | +79.7% |
| Amounts payable | 17/49 | €84,341 | €89,992 | +€5,650 | +6.7% |
| Amounts payable within one year | 42/48 | €84,235 | €89,564 | +€5,329 | +6.3% |
| Trade debts | 44 | €270 | €2,487 | +€2,217 | +822.4% |
| Suppliers | 440/4 | €270 | €2,487 | +€2,217 | +822.4% |
| Taxes, remuneration and social security | 45 | €77,972 | €76,360 | -€1,612 | -2.1% |
| Taxes | 450/3 | €75,746 | €72,291 | -€3,455 | -4.6% |
| Remuneration and social security | 454/9 | €2,226 | €4,070 | +€1,843 | +82.8% |
| Other amounts payable | 47/48 | €5,993 | €10,717 | +€4,723 | +78.8% |
| Accrued charges and deferred income | 492/3 | €107 | €428 | +€322 | +301.8% |
| Remuneration, social security and pensions | 62 | €23,318 | €24,604 | +€1,285 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,448 | €33,061 | +€30,613 | +1250.7% |
| Other operating charges | 640/8 | €387 | €400 | +€13 | +3.4% |
| Gross operating margin | 9900 | €391,154 | €409,641 | +€18,487 | +4.7% |
| Operating profit (loss) | 9901 | €365,001 | €351,576 | -€13,424 | -3.7% |
| Financial income | 75/76B | €3,183 | €4,156 | +€973 | +30.5% |
| Recurring financial income | 75 | €3,183 | €4,156 | +€973 | +30.5% |
| Financial charges | 65/66B | €170 | €494 | +€324 | +190.3% |
| Recurring financial charges | 65 | €170 | €494 | +€324 | +190.3% |
| Profit (loss) for the period before taxes | 9903 | €368,014 | €355,238 | -€12,776 | -3.5% |
| Income taxes | 67/77 | €87,010 | €83,777 | -€3,233 | -3.7% |
| Profit (loss) for the period | 9904 | €281,004 | €271,461 | -€9,543 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €281,004 | €271,461 | -€9,543 | -3.4% |
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 5 October 2026 via checked.be.