GOLD-COMMODITIES -FOREX: 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.
What changed
GOLD-COMMODITIES -FOREX
NACE 46.820, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.1m-€15,211
Equity
€3.8m
2024 · €3.0m+€826,270
Cash
€11.3m
2024 · €11.8m-€495,862
Balance sheet total
€21.0m
2024 · €28.2m-€7.2m
Largest movements
Assets
- Receivables within one year -€9.4m
down €9.4m (-73.7%), from €12.8m to €3.4m
of which Trade receivables: -€9.4m
- Stocks and contracts +€2.8m
up €2.8m (+141%), from €2.0m to €4.8m
- Cash -€495,862
down €495,862 (-4.2%), from €11.8m to €11.3m
mainly Trade debts (-€7.2m) and Stocks and contracts (-€2.8m)
Equity and liabilities
- Trade debts -€7.2m
down €7.2m (-48.6%), from €14.8m to €7.6m
- Advances received +€1.5m
new in 2025: €1.5m
- Short-term financial debts -€1.3m
down €1.3m (-16.0%), from €7.9m to €6.7m
- Profit (loss) carried forward +€826,270
up €826,270 (+40.2%), from €2.1m to €2.9m
- Other debts -€675,000
down €675,000 (-75.0%), from €900,000 to €225,000
Income statement
- Turnover +€58.5m
up €58.5m (+8.2%), from €710.6m to €769.1m
- Goods and materials +€57.4m
up €57.4m (+8.1%), from €705.5m to €762.9m
of which Purchases: +€57.1m
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.
Result 2024
€1.1m
Turnover
+€58.5m
Other operating income
+€53,897
Goods and materials
-€57.4m
Services and other goods
-€409,390
Staff costs
-€38,268
Depreciation
+€34,665
Provisions
-€154,836
Other operating charges
+€2,338
Other operating items
-€12,116
Financial income
-€434,124
Financial charges
-€102,681
Taxes
-€51,520
Result 2025
€1.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.8m
Investment
-€153,031
Financing
-€2.1m
Cash 2024
€11.8m
From operations (derived)
+€1.8m
Net result for the year
+€1.1m
Depreciation
+€200,415
Stocks and contracts
-€2.8m
Receivables within one year
+€9.4m
Deferred charges and accrued income
-€12,116
Provisions
+€154,836
Trade debts
-€7.2m
Tax, wage and social debts
+€48,159
Advances received
+€1.5m
Other debts
-€675,000
Accrued charges and deferred income
-€28,024
Investment (derived)
-€153,031
Investment in fixed assets (net)
-€153,031
Financing
-€2.1m
Debts after one year
-€248,791
Current portion of long-term debt
-€346,575
Short-term financial debts
-€1.3m
Contributions, distributions and other
-€266,750
Cash 2025
€11.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,175,198 | €20,976,526 | -€7.2m | -25.5% |
| Fixed assets | 21/28 | €1,514,252 | €1,466,868 | -€47,384 | -3.1% |
| Intangible fixed assets | 21 | €242,527 | €229,677 | -€12,850 | -5.3% |
| Tangible fixed assets | 22/27 | €1,271,725 | €1,237,191 | -€34,534 | -2.7% |
| Land and buildings | 22 | €1,217,266 | €1,174,359 | -€42,907 | -3.5% |
| Plant, machinery and equipment | 23 | €10,539 | €2,596 | -€7,943 | -75.4% |
| Furniture and vehicles | 24 | €43,921 | €60,237 | +€16,317 | +37.2% |
| Current assets | 29/58 | €26,660,946 | €19,509,658 | -€7.2m | -26.8% |
| Stocks and contracts in progress | 3 | €1,976,716 | €4,757,860 | +€2.8m | +141% |
| Stocks | 30/36 | €1,976,716 | €4,757,860 | +€2.8m | +141% |
| Goods purchased for resale | 34 | €1,976,716 | €4,757,860 | +€2.8m | +141% |
| Amounts receivable within one year | 40/41 | €12,813,213 | €3,364,526 | -€9.4m | -73.7% |
| Trade receivables | 40 | €12,813,213 | €3,363,431 | -€9.4m | -73.8% |
| Other amounts receivable | 41 | - | €1,095 | +€1,095 | |
| Cash at bank and in hand | 54/58 | €11,824,460 | €11,328,598 | -€495,862 | -4.2% |
| Deferred charges and accrued income | 490/1 | €46,557 | €58,673 | +€12,116 | +26.0% |
| Total equity and liabilities | 10/49 | €28,175,198 | €20,976,526 | -€7.2m | -25.5% |
| Equity | 10/15 | €2,965,493 | €3,791,762 | +€826,270 | +27.9% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €161,300 | €161,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €75,000 | €75,000 | = | 0.0% |
| Legal reserve | 130 | €75,000 | €75,000 | = | 0.0% |
| Distributable reserves | 133 | €86,300 | €86,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,054,193 | €2,880,462 | +€826,270 | +40.2% |
| Provisions and deferred taxes | 16 | - | €154,836 | +€154,836 | |
| Provisions for liabilities and charges | 160/5 | - | €154,836 | +€154,836 | |
| Other liabilities and charges | 164/5 | - | €154,836 | +€154,836 | |
| Amounts payable | 17/49 | €25,209,706 | €17,029,928 | -€8.2m | -32.4% |
| Amounts payable after more than one year | 17 | €640,344 | €391,553 | -€248,791 | -38.9% |
| Financial debts | 170/4 | €640,344 | €391,553 | -€248,791 | -38.9% |
| Credit institutions | 173 | €640,344 | €391,553 | -€248,791 | -38.9% |
| Amounts payable within one year | 42/48 | €24,540,801 | €16,637,838 | -€7.9m | -32.2% |
| Current portion of amounts payable after more than one year | 42 | €595,366 | €248,791 | -€346,575 | -58.2% |
| Financial debts | 43 | €7,932,174 | €6,661,250 | -€1.3m | -16.0% |
| Other loans | 439 | €7,932,174 | €6,661,250 | -€1.3m | -16.0% |
| Trade debts | 44 | €14,758,169 | €7,590,079 | -€7.2m | -48.6% |
| Suppliers | 440/4 | €14,758,169 | €7,590,079 | -€7.2m | -48.6% |
| Advances received on contracts in progress | 46 | - | €1,509,467 | +€1.5m | |
| Taxes, remuneration and social security | 45 | €355,093 | €403,251 | +€48,159 | +13.6% |
| Taxes | 450/3 | €270,421 | €296,864 | +€26,443 | +9.8% |
| Remuneration and social security | 454/9 | €84,671 | €106,387 | +€21,715 | +25.6% |
| Other amounts payable | 47/48 | €900,000 | €225,000 | -€675,000 | -75.0% |
| Accrued charges and deferred income | 492/3 | €28,561 | €536 | -€28,024 | -98.1% |
| Operating income | 70/76A | €710,656,694 | €769,157,645 | +€58.5m | +8.2% |
| Turnover | 70 | €710,591,720 | €769,050,891 | +€58.5m | +8.2% |
| Other operating income | 74 | €52,857 | €106,754 | +€53,897 | +102% |
| Non-recurring operating income | 76A | €12,116 | - | -€12,116 | |
| Operating charges | 60/66A | €709,241,188 | €767,169,026 | +€57.9m | +8.2% |
| Goods for resale, raw materials and consumables | 60 | €705,518,376 | €762,880,722 | +€57.4m | +8.1% |
| Purchases | 600/8 | €707,297,588 | €764,390,942 | +€57.1m | +8.1% |
| Change in stocks: decrease (increase) | 609 | -€1,779,212 | -€1,510,220 | +€268,993 | +15.1% |
| Services and other goods | 61 | €2,751,125 | €3,160,515 | +€409,390 | +14.9% |
| Remuneration, social security and pensions | 62 | €720,894 | €759,161 | +€38,268 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €235,079 | €200,415 | -€34,665 | -14.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €154,836 | +€154,836 | |
| Other operating charges | 640/8 | €15,714 | €13,376 | -€2,338 | -14.9% |
| Operating profit (loss) | 9901 | €1,415,505 | €1,988,619 | +€573,114 | +40.5% |
| Financial income | 75/76B | €459,899 | €25,774 | -€434,124 | -94.4% |
| Recurring financial income | 75 | €459,888 | €25,774 | -€434,114 | -94.4% |
| Income from financial fixed assets | 750 | €163 | €12 | -€151 | -92.9% |
| Income from current assets | 751 | €6 | - | -€6 | |
| Other financial income | 752/9 | €459,720 | €25,763 | -€433,957 | -94.4% |
| Non-recurring financial income | 76B | €11 | - | -€11 | |
| Financial charges | 65/66B | €362,099 | €464,780 | +€102,681 | +28.4% |
| Recurring financial charges | 65 | €301,649 | €459,717 | +€158,068 | +52.4% |
| Debt charges | 650 | €65,351 | €44,045 | -€21,306 | -32.6% |
| Other financial charges | 652/9 | €236,298 | €415,672 | +€179,374 | +75.9% |
| Non-recurring financial charges | 66B | €60,450 | €5,063 | -€55,387 | -91.6% |
| Profit (loss) for the period before taxes | 9903 | €1,513,305 | €1,549,614 | +€36,309 | +2.4% |
| Income taxes | 67/77 | €405,074 | €456,594 | +€51,520 | +12.7% |
| Taxes | 670/3 | €405,074 | €456,594 | +€51,520 | +12.7% |
| Profit (loss) for the period | 9904 | €1,108,230 | €1,093,020 | -€15,211 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,108,230 | €1,093,020 | -€15,211 | -1.4% |
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 14 October 2026 via checked.be.