GIRIM BEHEER: what changed
GIRIM BEHEER
Largest movements
- Receivables within one year -€46,671
down €46,671 (-25.8%), from €180,718 to €134,047
of which Other amounts receivable: -€24,414
- Cash +€29,765
up €29,765 (+35.1%), from €84,721 to €114,486
mainly Depreciation (+€60,547) and Receivables within one year (+€46,671)
- Tangible fixed assets +€22,315
up €22,315 (+2.7%), from €830,840 to €853,156
of which Land and buildings: +€33,083
- Reserves +€25,329
up €25,329 (+17.9%), from €141,606 to €166,935
of which Distributable reserves: +€28,071
- Trade debts +€16,829
up €16,829 (+182%), from €9,252 to €26,082
- Advances received -€11,830
down €11,830 (-28.7%), from €41,212 to €29,383
- Other debts -€11,610
down €11,610 (-97.4%), from €11,919 to €309
- Gross operating margin -€54,165
down €54,165 (-29.8%), from €182,010 to €127,845
- Depreciation -€16,294
down €16,294 (-21.2%), from €76,840 to €60,547
- Other operating charges -€12,337
down €12,337 (-24.2%), from €50,992 to €38,655
- Taxes -€2,383
down €2,383 (-45.1%), from €5,279 to €2,896
- Financial income -€2,220
down €2,220 (-51.4%), from €4,317 to €2,097
of which Non-recurring financial income: -€1,242
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,096,740 | €1,102,169 | +€5,429 | +0.5% |
| Fixed assets | 21/28 | €830,840 | €853,156 | +€22,315 | +2.7% |
| Tangible fixed assets | 22/27 | €830,840 | €853,156 | +€22,315 | +2.7% |
| Land and buildings | 22 | €785,281 | €818,364 | +€33,083 | +4.2% |
| Furniture and vehicles | 24 | €5,379 | €4,229 | -€1,150 | -21.4% |
| Leasing and similar rights | 25 | €40,181 | €30,563 | -€9,618 | -23.9% |
| Current assets | 29/58 | €265,900 | €249,013 | -€16,886 | -6.4% |
| Amounts receivable within one year | 40/41 | €180,718 | €134,047 | -€46,671 | -25.8% |
| Trade receivables | 40 | €57,612 | €35,355 | -€22,257 | -38.6% |
| Other amounts receivable | 41 | €123,106 | €98,692 | -€24,414 | -19.8% |
| Cash at bank and in hand | 54/58 | €84,721 | €114,486 | +€29,765 | +35.1% |
| Deferred charges and accrued income | 490/1 | €461 | €481 | +€20 | +4.3% |
| Total equity and liabilities | 10/49 | €1,096,740 | €1,102,169 | +€5,429 | +0.5% |
| Equity | 10/15 | €980,167 | €1,005,496 | +€25,329 | +2.6% |
| Contributions | 10/11 | €28,422 | €28,422 | = | 0.0% |
| Reserves | 13 | €141,606 | €166,935 | +€25,329 | +17.9% |
| Non-distributable reserves | 130/1 | €3,255 | €3,255 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,255 | €2,842 | -€413 | -12.7% |
| Other | 1319 | - | €413 | +€413 | |
| Tax-exempt reserves | 132 | €86,479 | €83,737 | -€2,742 | -3.2% |
| Distributable reserves | 133 | €51,871 | €79,942 | +€28,071 | +54.1% |
| Profit (loss) carried forward | 14 | €810,139 | €810,139 | = | 0.0% |
| Amounts payable | 17/49 | €116,574 | €96,673 | -€19,900 | -17.1% |
| Amounts payable after more than one year | 17 | €31,409 | €21,858 | -€9,552 | -30.4% |
| Financial debts | 170/4 | €31,409 | €21,858 | -€9,552 | -30.4% |
| Amounts payable within one year | 42/48 | €85,067 | €74,816 | -€10,252 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €9,229 | €9,552 | +€323 | +3.5% |
| Trade debts | 44 | €9,252 | €26,082 | +€16,829 | +182% |
| Suppliers | 440/4 | €9,252 | €26,082 | +€16,829 | +182% |
| Advances received on contracts in progress | 46 | €41,212 | €29,383 | -€11,830 | -28.7% |
| Taxes, remuneration and social security | 45 | €13,455 | €9,491 | -€3,964 | -29.5% |
| Taxes | 450/3 | €13,455 | €9,491 | -€3,964 | -29.5% |
| Other amounts payable | 47/48 | €11,919 | €309 | -€11,610 | -97.4% |
| Accrued charges and deferred income | 492/3 | €97 | €0 | -€97 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,840 | €60,547 | -€16,294 | -21.2% |
| Other operating charges | 640/8 | €50,992 | €38,655 | -€12,337 | -24.2% |
| Non-recurring operating charges | 66A | €3,581 | €814 | -€2,767 | -77.3% |
| Gross operating margin | 9900 | €182,010 | €127,845 | -€54,165 | -29.8% |
| Operating profit (loss) | 9901 | €50,597 | €27,830 | -€22,767 | -45.0% |
| Financial income | 75/76B | €4,317 | €2,097 | -€2,220 | -51.4% |
| Recurring financial income | 75 | €3,075 | €2,097 | -€978 | -31.8% |
| Non-recurring financial income | 76B | €1,242 | €0 | -€1,242 | -100% |
| Financial charges | 65/66B | €1,881 | €1,702 | -€180 | -9.6% |
| Recurring financial charges | 65 | €1,881 | €1,702 | -€180 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €53,033 | €28,225 | -€24,808 | -46.8% |
| Income taxes | 67/77 | €5,279 | €2,896 | -€2,383 | -45.1% |
| Profit (loss) for the period | 9904 | €47,753 | €25,329 | -€22,424 | -47.0% |
| Transfer from tax-exempt reserves | 789 | €4,118 | €2,742 | -€1,376 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,871 | €28,071 | -€23,800 | -45.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.