GHYVAN: 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.
GHYVAN
Largest movements
- Cash -€371,835
down €371,835 (-42.4%), from €876,170 to €504,335
mainly Contributions, distributions and other (-€541,046) and Investment in fixed assets (net) (-€124,901)
- Tangible fixed assets +€76,626
up €76,626 (+5.5%), from €1.4m to €1.5m
of which Land and buildings: +€77,951
- Receivables within one year -€45,484
down €45,484 (-57.5%), from €79,044 to €33,560
of which Trade receivables: -€45,084
- Reserves -€568,737
down €568,737 (-61.6%), from €922,539 to €353,802
of which Distributable reserves: -€533,240
- Other debts +€336,414
up €336,414 (+56.0%), from €601,059 to €937,474
- Debts after one year -€46,106
down €46,106 (-11.1%), from €414,760 to €368,655
- Tax, wage and social debts -€25,127
down €25,127 (-34.9%), from €72,085 to €46,958
of which Taxes: -€25,369
- Gross operating margin -€117,214
down €117,214 (-70.9%), from €165,348 to €48,134
- Taxes -€28,312
down €28,312 (-95.5%), from €29,640 to €1,328
- Financial charges -€20,290
down €20,290 (-60.3%), from €33,634 to €13,344
- Other operating charges -€8,346
down €8,346 (-57.7%), from €14,475 to €6,128
- Depreciation +€3,046
up €3,046 (+6.7%), from €45,229 to €48,275
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.
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 | €2,354,796 | €2,013,139 | -€341,657 | -14.5% |
| Fixed assets | 21/28 | €1,396,929 | €1,473,554 | +€76,626 | +5.5% |
| Tangible fixed assets | 22/27 | €1,396,929 | €1,473,554 | +€76,626 | +5.5% |
| Land and buildings | 22 | €1,394,046 | €1,471,997 | +€77,951 | +5.6% |
| Plant, machinery and equipment | 23 | €2,883 | €1,557 | -€1,326 | -46.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €957,868 | €539,585 | -€418,283 | -43.7% |
| Amounts receivable within one year | 40/41 | €79,044 | €33,560 | -€45,484 | -57.5% |
| Trade receivables | 40 | €78,644 | €33,560 | -€45,084 | -57.3% |
| Other amounts receivable | 41 | €400 | €0 | -€400 | -100.0% |
| Cash at bank and in hand | 54/58 | €876,170 | €504,335 | -€371,835 | -42.4% |
| Deferred charges and accrued income | 490/1 | €2,654 | €1,690 | -€964 | -36.3% |
| Total equity and liabilities | 10/49 | €2,354,796 | €2,013,139 | -€341,657 | -14.5% |
| Equity | 10/15 | €1,170,096 | €601,358 | -€568,737 | -48.6% |
| Contributions | 10/11 | €247,557 | €247,557 | = | 0.0% |
| Reserves | 13 | €922,539 | €353,802 | -€568,737 | -61.6% |
| Tax-exempt reserves | 132 | €35,497 | - | -€35,497 | |
| Distributable reserves | 133 | €887,042 | €353,802 | -€533,240 | -60.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,184,701 | €1,411,781 | +€227,080 | +19.2% |
| Amounts payable after more than one year | 17 | €414,760 | €368,655 | -€46,106 | -11.1% |
| Financial debts | 170/4 | €414,760 | €368,655 | -€46,106 | -11.1% |
| Amounts payable within one year | 42/48 | €744,153 | €1,038,759 | +€294,606 | +39.6% |
| Current portion of amounts payable after more than one year | 42 | €10,336 | €10,682 | +€346 | +3.3% |
| Financial debts | 43 | €34,971 | €35,424 | +€453 | +1.3% |
| Credit institutions | 430/8 | €34,971 | €35,424 | +€453 | +1.3% |
| Trade debts | 44 | €25,202 | €8,221 | -€16,980 | -67.4% |
| Suppliers | 440/4 | €25,202 | €8,221 | -€16,980 | -67.4% |
| Advances received on contracts in progress | 46 | €500 | €0 | -€500 | -100.0% |
| Taxes, remuneration and social security | 45 | €72,085 | €46,958 | -€25,127 | -34.9% |
| Taxes | 450/3 | €71,021 | €45,652 | -€25,369 | -35.7% |
| Remuneration and social security | 454/9 | €1,064 | €1,306 | +€242 | +22.7% |
| Other amounts payable | 47/48 | €601,059 | €937,474 | +€336,414 | +56.0% |
| Accrued charges and deferred income | 492/3 | €25,787 | €4,367 | -€21,420 | -83.1% |
| Remuneration, social security and pensions | 62 | €8,143 | €10,411 | +€2,269 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,229 | €48,275 | +€3,046 | +6.7% |
| Other operating charges | 640/8 | €14,475 | €6,128 | -€8,346 | -57.7% |
| Gross operating margin | 9900 | €165,348 | €48,134 | -€117,214 | -70.9% |
| Operating profit (loss) | 9901 | €97,502 | -€16,681 | -€114,183 | |
| Financial income | 75/76B | €3,245 | €3,662 | +€417 | +12.9% |
| Recurring financial income | 75 | €3,245 | €3,662 | +€417 | +12.9% |
| Financial charges | 65/66B | €33,634 | €13,344 | -€20,290 | -60.3% |
| Recurring financial charges | 65 | €33,634 | €13,344 | -€20,290 | -60.3% |
| Profit (loss) for the period before taxes | 9903 | €67,113 | -€26,363 | -€93,476 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €29,640 | €1,328 | -€28,312 | -95.5% |
| Profit (loss) for the period | 9904 | €37,473 | -€27,691 | -€65,164 | |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €37,473 | -€27,691 | -€65,164 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.