Ghost Protect Security & Terrassement: 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.
Ghost Protect Security & Terrassement
Largest movements
- Receivables within one year -€54,300
down €54,300 (-52.7%), from €102,952 to €48,652
of which Trade receivables: -€39,246
- Cash +€20,337
up €20,337 (+114%), from €17,812 to €38,149
mainly Receivables within one year (+€54,300) and Depreciation (+€39,275)
- Tangible fixed assets +€7,354
up €7,354 (+8.4%), from €87,621 to €94,975
of which Plant, machinery and equipment: +€13,462
- Trade debts -€32,886
down €32,886 (-76.7%), from €42,854 to €9,967
- Debts after one year -€24,405
down €24,405 (-46.0%), from €53,040 to €28,635
- Reserves +€10,000
up €10,000 (+323%), from €3,100 to €13,100
of which Distributable reserves: +€10,000
- Accrued charges and deferred income +€7,754
new in 2025: €7,754
- Tax, wage and social debts +€6,892
up €6,892 (+432%), from €1,594 to €8,485
- Gross operating margin +€37,058
up €37,058 (+82.6%), from €44,851 to €81,910
- Other operating charges +€15,916
up €15,916 (+657%), from €2,423 to €18,339
- Taxes +€4,324
up €4,324 (+716%), from €604 to €4,928
- Depreciation +€2,383
up €2,383 (+6.5%), from €36,892 to €39,275
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 | €211,792 | €184,596 | -€27,196 | -12.8% |
| Fixed assets | 21/28 | €87,811 | €95,166 | +€7,354 | +8.4% |
| Tangible fixed assets | 22/27 | €87,621 | €94,975 | +€7,354 | +8.4% |
| Plant, machinery and equipment | 23 | €18,652 | €32,114 | +€13,462 | +72.2% |
| Furniture and vehicles | 24 | €68,969 | €62,861 | -€6,108 | -8.9% |
| Financial fixed assets | 28 | €191 | €191 | = | 0.0% |
| Current assets | 29/58 | €123,981 | €89,430 | -€34,551 | -27.9% |
| Amounts receivable within one year | 40/41 | €102,952 | €48,652 | -€54,300 | -52.7% |
| Trade receivables | 40 | €71,027 | €31,781 | -€39,246 | -55.3% |
| Other amounts receivable | 41 | €31,925 | €16,871 | -€15,055 | -47.2% |
| Cash at bank and in hand | 54/58 | €17,812 | €38,149 | +€20,337 | +114% |
| Deferred charges and accrued income | 490/1 | €3,217 | €2,629 | -€587 | -18.3% |
| Total equity and liabilities | 10/49 | €211,792 | €184,596 | -€27,196 | -12.8% |
| Equity | 10/15 | €84,916 | €94,751 | +€9,835 | +11.6% |
| Contributions | 10/11 | €20,457 | €20,457 | = | 0.0% |
| Reserves | 13 | €3,100 | €13,100 | +€10,000 | +323% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | - | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | €61,359 | €61,195 | -€165 | -0.3% |
| Amounts payable | 17/49 | €126,876 | €89,844 | -€37,032 | -29.2% |
| Amounts payable after more than one year | 17 | €53,040 | €28,635 | -€24,405 | -46.0% |
| Financial debts | 170/4 | €53,040 | €28,635 | -€24,405 | -46.0% |
| Amounts payable within one year | 42/48 | €73,836 | €53,456 | -€20,380 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €29,389 | €35,003 | +€5,614 | +19.1% |
| Trade debts | 44 | €42,854 | €9,967 | -€32,886 | -76.7% |
| Suppliers | 440/4 | €42,854 | €9,967 | -€32,886 | -76.7% |
| Taxes, remuneration and social security | 45 | €1,594 | €8,485 | +€6,892 | +432% |
| Taxes | 450/3 | €1,594 | €8,485 | +€6,892 | +432% |
| Accrued charges and deferred income | 492/3 | - | €7,754 | +€7,754 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,892 | €39,275 | +€2,383 | +6.5% |
| Other operating charges | 640/8 | €2,423 | €18,339 | +€15,916 | +657% |
| Gross operating margin | 9900 | €44,851 | €81,910 | +€37,058 | +82.6% |
| Operating profit (loss) | 9901 | €5,536 | €24,296 | +€18,760 | +339% |
| Financial income | 75/76B | €140 | - | -€140 | |
| Recurring financial income | 75 | €140 | - | -€140 | |
| Financial charges | 65/66B | €4,042 | €3,532 | -€510 | -12.6% |
| Recurring financial charges | 65 | €4,042 | €3,532 | -€510 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €1,634 | €20,764 | +€19,129 | +1,171% |
| Income taxes | 67/77 | €604 | €4,928 | +€4,324 | +716% |
| Profit (loss) for the period | 9904 | €1,030 | €15,835 | +€14,805 | +1,437% |
| Profit (loss) for the period to be appropriated | 9905 | €1,030 | €15,835 | +€14,805 | +1,437% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.