GOLDEN BIKES: 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.
GOLDEN BIKES
Largest movements
- Tangible fixed assets -€105,365
down €105,365 (-9.6%), from €1.1m to €988,656
of which Land and buildings: -€71,353
- Stocks and contracts -€65,892
down €65,892 (-36.7%), from €179,376 to €113,483
- Cash -€34,889
down €34,889 (-18.5%), from €188,606 to €153,718
mainly Other debts (-€101,435) and Net result for the year (-€95,428)
- Other debts -€101,435
down €101,435 (-38.3%), from €264,673 to €163,238
- Profit (loss) carried forward -€95,428
down €95,428 (-25.5%), from -€374,470 to -€469,898
- Revaluation surpluses -€55,661
down €55,661 (-7.1%), from €782,099 to €726,438
- Reserves +€55,661
up €55,661 (+20.0%), from €278,727 to €334,388
of which Distributable reserves: +€55,661
- Tax, wage and social debts -€21,974
down €21,974 (-70.0%), from €31,413 to €9,439
of which Remuneration and social security: -€11,961
- Gross operating margin -€265,573
down €265,573 (-94.7%), from €280,321 to €14,747
- Staff costs -€190,053
down €190,053 (-87.7%), from €216,670 to €26,617
- Depreciation -€13,499
down €13,499 (-14.3%), from €94,244 to €80,746
- Financial charges -€6,442
down €6,442 (-81.8%), from €7,876 to €1,434
- Financial income -€4,738
down €4,738 (-97.3%), from €4,870 to €132
of which Non-recurring financial income: -€4,603
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 | €1,481,812 | €1,260,082 | -€221,730 | -15.0% |
| Fixed assets | 21/28 | €1,096,993 | €988,656 | -€108,337 | -9.9% |
| Tangible fixed assets | 22/27 | €1,094,021 | €988,656 | -€105,365 | -9.6% |
| Land and buildings | 22 | €1,033,923 | €962,569 | -€71,353 | -6.9% |
| Furniture and vehicles | 24 | €31,346 | €1,411 | -€29,935 | -95.5% |
| Other tangible fixed assets | 26 | €28,752 | €24,676 | -€4,077 | -14.2% |
| Financial fixed assets | 28 | €2,972 | - | -€2,972 | |
| Current assets | 29/58 | €384,819 | €271,427 | -€113,392 | -29.5% |
| Stocks and contracts in progress | 3 | €179,376 | €113,483 | -€65,892 | -36.7% |
| Stocks | 30/36 | €179,376 | €113,483 | -€65,892 | -36.7% |
| Amounts receivable within one year | 40/41 | €16,837 | €4,226 | -€12,611 | -74.9% |
| Trade receivables | 40 | €16,837 | €210 | -€16,627 | -98.8% |
| Other amounts receivable | 41 | - | €4,016 | +€4,016 | |
| Cash at bank and in hand | 54/58 | €188,606 | €153,718 | -€34,889 | -18.5% |
| Total equity and liabilities | 10/49 | €1,481,812 | €1,260,082 | -€221,730 | -15.0% |
| Equity | 10/15 | €736,172 | €640,744 | -€95,428 | -13.0% |
| Contributions | 10/11 | €49,816 | €49,816 | = | 0.0% |
| Revaluation surpluses | 12 | €782,099 | €726,438 | -€55,661 | -7.1% |
| Reserves | 13 | €278,727 | €334,388 | +€55,661 | +20.0% |
| Non-distributable reserves | 130/1 | €421 | €421 | = | 0.0% |
| Reserves not available under the articles | 1311 | €421 | €421 | = | 0.0% |
| Distributable reserves | 133 | €278,306 | €333,967 | +€55,661 | +20.0% |
| Profit (loss) carried forward | 14 | -€374,470 | -€469,898 | -€95,428 | -25.5% |
| Amounts payable | 17/49 | €745,640 | €619,338 | -€126,302 | -16.9% |
| Amounts payable after more than one year | 17 | €445,784 | €445,784 | = | 0.0% |
| Other amounts payable | 178/9 | €445,784 | €445,784 | = | 0.0% |
| Amounts payable within one year | 42/48 | €299,856 | €173,554 | -€126,302 | -42.1% |
| Trade debts | 44 | €3,769 | €876 | -€2,893 | -76.7% |
| Suppliers | 440/4 | €3,769 | €876 | -€2,893 | -76.7% |
| Taxes, remuneration and social security | 45 | €31,413 | €9,439 | -€21,974 | -70.0% |
| Taxes | 450/3 | €19,452 | €9,439 | -€10,013 | -51.5% |
| Remuneration and social security | 454/9 | €11,961 | - | -€11,961 | |
| Other amounts payable | 47/48 | €264,673 | €163,238 | -€101,435 | -38.3% |
| Remuneration, social security and pensions | 62 | €216,670 | €26,617 | -€190,053 | -87.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,244 | €80,746 | -€13,499 | -14.3% |
| Other operating charges | 640/8 | €2,286 | €1,263 | -€1,023 | -44.7% |
| Gross operating margin | 9900 | €280,321 | €14,747 | -€265,573 | -94.7% |
| Operating profit (loss) | 9901 | -€32,880 | -€93,879 | -€60,999 | -186% |
| Financial income | 75/76B | €4,870 | €132 | -€4,738 | -97.3% |
| Recurring financial income | 75 | €167 | €33 | -€134 | -80.5% |
| Non-recurring financial income | 76B | €4,703 | €100 | -€4,603 | -97.9% |
| Financial charges | 65/66B | €7,876 | €1,434 | -€6,442 | -81.8% |
| Recurring financial charges | 65 | €7,876 | €1,434 | -€6,442 | -81.8% |
| Profit (loss) for the period before taxes | 9903 | -€35,886 | -€95,181 | -€59,295 | -165% |
| Income taxes | 67/77 | €230 | €247 | +€17 | +7.2% |
| Profit (loss) for the period | 9904 | -€36,116 | -€95,428 | -€59,312 | -164% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,116 | -€95,428 | -€59,312 | -164% |
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 29 October 2026 via checked.be.