GHYKO: 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.
GHYKO
Largest movements
- Current investments -€27,984
down €27,984 (-24.0%), from €116,498 to €88,514
- Receivables within one year -€24,190
down €24,190 (-62.1%), from €38,963 to €14,773
of which Trade receivables: -€24,653
- Tangible fixed assets -€20,206
down €20,206 (-10.1%), from €199,235 to €179,030
of which Land and buildings: -€21,624
- Cash +€9,821
up €9,821 (+15.4%), from €63,736 to €73,557
mainly Current investments (+€27,984) and Receivables within one year (+€24,190)
- Profit (loss) carried forward -€38,029
down €38,029 (-36.5%), from €104,152 to €66,123
- Debts after one year -€20,270
down €20,270 (-15.1%), from €134,267 to €113,997
- Trade debts -€4,586
down €4,586 (-9.5%), from €48,191 to €43,605
- Gross operating margin -€48,022
down €48,022 (-97.0%), from €49,509 to €1,486
- Taxes -€2,341
no longer reported in 2025 (was €2,341)
- Financial charges -€1,481
down €1,481 (-33.4%), from €4,440 to €2,959
- Staff costs +€669
up €669 (+7.2%), from €9,323 to €9,993
- Other operating charges +€660
up €660 (+15.2%), from €4,358 to €5,018
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 | €421,676 | €357,282 | -€64,394 | -15.3% |
| Fixed assets | 21/28 | €200,845 | €179,140 | -€21,706 | -10.8% |
| Tangible fixed assets | 22/27 | €199,235 | €179,030 | -€20,206 | -10.1% |
| Land and buildings | 22 | €191,883 | €170,259 | -€21,624 | -11.3% |
| Plant, machinery and equipment | 23 | €7,352 | €8,771 | +€1,419 | +19.3% |
| Financial fixed assets | 28 | €1,610 | €110 | -€1,500 | -93.2% |
| Current assets | 29/58 | €220,831 | €178,142 | -€42,689 | -19.3% |
| Amounts receivable within one year | 40/41 | €38,963 | €14,773 | -€24,190 | -62.1% |
| Trade receivables | 40 | €38,839 | €14,186 | -€24,653 | -63.5% |
| Other amounts receivable | 41 | €124 | €587 | +€462 | +372.2% |
| Current investments | 50/53 | €116,498 | €88,514 | -€27,984 | -24.0% |
| Cash at bank and in hand | 54/58 | €63,736 | €73,557 | +€9,821 | +15.4% |
| Deferred charges and accrued income | 490/1 | €1,634 | €1,298 | -€336 | -20.5% |
| Total equity and liabilities | 10/49 | €421,676 | €357,282 | -€64,394 | -15.3% |
| Equity | 10/15 | €189,105 | €151,076 | -€38,029 | -20.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,353 | €66,353 | = | 0.0% |
| Distributable reserves | 133 | €66,353 | €66,353 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,152 | €66,123 | -€38,029 | -36.5% |
| Amounts payable | 17/49 | €232,571 | €206,206 | -€26,365 | -11.3% |
| Amounts payable after more than one year | 17 | €134,267 | €113,997 | -€20,270 | -15.1% |
| Financial debts | 170/4 | €134,267 | €113,997 | -€20,270 | -15.1% |
| Amounts payable within one year | 42/48 | €95,930 | €91,039 | -€4,891 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €21,587 | €20,270 | -€1,317 | -6.1% |
| Trade debts | 44 | €48,191 | €43,605 | -€4,586 | -9.5% |
| Suppliers | 440/4 | €48,191 | €43,605 | -€4,586 | -9.5% |
| Taxes, remuneration and social security | 45 | €7,053 | €4,333 | -€2,720 | -38.6% |
| Taxes | 450/3 | €5,007 | €2,181 | -€2,826 | -56.4% |
| Remuneration and social security | 454/9 | €2,046 | €2,152 | +€105 | +5.2% |
| Other amounts payable | 47/48 | €19,099 | €22,831 | +€3,732 | +19.5% |
| Accrued charges and deferred income | 492/3 | €2,373 | €1,170 | -€1,204 | -50.7% |
| Remuneration, social security and pensions | 62 | €9,323 | €9,993 | +€669 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,044 | €22,456 | +€411 | +1.9% |
| Other operating charges | 640/8 | €4,358 | €5,018 | +€660 | +15.2% |
| Gross operating margin | 9900 | €49,509 | €1,486 | -€48,022 | -97.0% |
| Operating profit (loss) | 9901 | €13,783 | -€35,980 | -€49,763 | |
| Financial income | 75/76B | €1,071 | €910 | -€161 | -15.0% |
| Recurring financial income | 75 | €1,071 | €910 | -€161 | -15.0% |
| Financial charges | 65/66B | €4,440 | €2,959 | -€1,481 | -33.4% |
| Recurring financial charges | 65 | €4,440 | €2,959 | -€1,481 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €10,415 | -€38,029 | -€48,443 | |
| Income taxes | 67/77 | €2,341 | - | -€2,341 | |
| Profit (loss) for the period | 9904 | €8,074 | -€38,029 | -€46,103 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,074 | -€38,029 | -€46,103 |
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 10 October 2026 via checked.be.