GOLDEN CLOVER: 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 CLOVER
Largest movements
- Cash -€52,931
down €52,931 (-63.3%), from €83,633 to €30,702
mainly Contributions, distributions and other (-€87,600) and Receivables within one year (-€24,352)
- Receivables within one year +€24,352
up €24,352 (+388%), from €6,271 to €30,623
of which Trade receivables: +€23,082
- Tangible fixed assets -€8,748
down €8,748 (-2.9%), from €302,713 to €293,965
- Reserves -€37,613
down €37,613 (-13.3%), from €282,262 to €244,649
of which Distributable reserves: -€37,613
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Other debts -€12,359
down €12,359 (-12.7%), from €97,431 to €85,072
- Gross operating margin +€10,953
up €10,953 (+13.8%), from €79,424 to €90,377
- Taxes +€2,435
up €2,435 (+16.8%), from €14,520 to €16,955
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 | €393,380 | €355,957 | -€37,423 | -9.5% |
| Fixed assets | 21/28 | €302,793 | €294,045 | -€8,748 | -2.9% |
| Tangible fixed assets | 22/27 | €302,713 | €293,965 | -€8,748 | -2.9% |
| Land and buildings | 22 | €302,713 | €293,965 | -€8,748 | -2.9% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €90,587 | €61,912 | -€28,675 | -31.7% |
| Amounts receivable within one year | 40/41 | €6,271 | €30,623 | +€24,352 | +388% |
| Trade receivables | 40 | €4,319 | €27,401 | +€23,082 | +534% |
| Other amounts receivable | 41 | €1,952 | €3,222 | +€1,270 | +65.1% |
| Cash at bank and in hand | 54/58 | €83,633 | €30,702 | -€52,931 | -63.3% |
| Deferred charges and accrued income | 490/1 | €683 | €587 | -€96 | -14.1% |
| Total equity and liabilities | 10/49 | €393,380 | €355,957 | -€37,423 | -9.5% |
| Equity | 10/15 | €288,462 | €263,249 | -€25,213 | -8.7% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €282,262 | €244,649 | -€37,613 | -13.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €280,402 | €242,789 | -€37,613 | -13.4% |
| Amounts payable | 17/49 | €104,918 | €92,708 | -€12,210 | -11.6% |
| Amounts payable within one year | 42/48 | €104,918 | €92,708 | -€12,210 | -11.6% |
| Trade debts | 44 | €402 | €681 | +€279 | +69.4% |
| Suppliers | 440/4 | €402 | €681 | +€279 | +69.4% |
| Taxes, remuneration and social security | 45 | €7,085 | €6,955 | -€130 | -1.8% |
| Taxes | 450/3 | €7,085 | €6,955 | -€130 | -1.8% |
| Other amounts payable | 47/48 | €97,431 | €85,072 | -€12,359 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,154 | €8,748 | -€406 | -4.4% |
| Other operating charges | 640/8 | €1,967 | €2,029 | +€62 | +3.2% |
| Gross operating margin | 9900 | €79,424 | €90,377 | +€10,953 | +13.8% |
| Operating profit (loss) | 9901 | €68,303 | €79,600 | +€11,297 | +16.5% |
| Financial charges | 65/66B | €261 | €258 | -€3 | -1.1% |
| Recurring financial charges | 65 | €261 | €258 | -€3 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €68,042 | €79,342 | +€11,300 | +16.6% |
| Income taxes | 67/77 | €14,520 | €16,955 | +€2,435 | +16.8% |
| Profit (loss) for the period | 9904 | €53,522 | €62,387 | +€8,865 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,522 | €62,387 | +€8,865 | +16.6% |
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 30 October 2026 via checked.be.