GOLDEN DOVE: what changed
GOLDEN DOVE
Largest movements
- Cash +€22,486
up €22,486 (+105%), from €21,413 to €43,900
mainly Debts after one year (+€175,480) and Net result for the year (+€43,937)
- Tangible fixed assets -€20,127
down €20,127 (-2.1%), from €973,718 to €953,591
of which Land and buildings: -€17,814
- Receivables after one year +€19,500
new in 2025: €19,500
- Receivables within one year +€17,004
up €17,004 (+384%), from €4,422 to €21,426
- Debts after one year +€175,480
up €175,480 (+30.7%), from €570,723 to €746,203
of which Other amounts payable: +€209,101
- Contributions -€175,000
down €175,000 (-70.0%), from €250,000 to €75,000
- Profit (loss) carried forward +€43,937
up €43,937 (+72.5%), from €60,634 to €104,571
- Other debts -€19,790
down €19,790 (-43.0%), from €46,042 to €26,252
- Current portion of long-term debt +€11,644
up €11,644 (+33.0%), from €35,270 to €46,914
- Turnover +€30,709
up €30,709 (+13.1%), from €233,585 to €264,294
- Financial charges -€30,348
down €30,348 (-55.5%), from €54,719 to €24,371
- Purchases and services +€28,663
up €28,663 (+24.1%), from €119,038 to €147,701
- Taxes +€6,965
up €6,965 (+103%), from €6,756 to €13,721
- Gross operating margin +€2,680
up €2,680 (+2.3%), from €114,547 to €117,227
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 | €1,000,161 | €1,039,412 | +€39,250 | +3.9% |
| Fixed assets | 21/28 | €973,718 | €953,591 | -€20,127 | -2.1% |
| Tangible fixed assets | 22/27 | €973,718 | €953,591 | -€20,127 | -2.1% |
| Land and buildings | 22 | €947,242 | €929,428 | -€17,814 | -1.9% |
| Plant, machinery and equipment | 23 | €14,998 | €13,121 | -€1,877 | -12.5% |
| Other tangible fixed assets | 26 | €11,478 | €11,042 | -€436 | -3.8% |
| Current assets | 29/58 | €26,443 | €85,820 | +€59,377 | +225% |
| Amounts receivable after more than one year | 29 | - | €19,500 | +€19,500 | |
| Trade receivables | 290 | - | €19,500 | +€19,500 | |
| Amounts receivable within one year | 40/41 | €4,422 | €21,426 | +€17,004 | +384% |
| Trade receivables | 40 | €4,422 | €21,426 | +€17,004 | +384% |
| Cash at bank and in hand | 54/58 | €21,413 | €43,900 | +€22,486 | +105% |
| Deferred charges and accrued income | 490/1 | €607 | €995 | +€387 | +63.8% |
| Total equity and liabilities | 10/49 | €1,000,161 | €1,039,412 | +€39,250 | +3.9% |
| Equity | 10/15 | €312,494 | €181,431 | -€131,063 | -41.9% |
| Contributions | 10/11 | €250,000 | €75,000 | -€175,000 | -70.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,634 | €104,571 | +€43,937 | +72.5% |
| Amounts payable | 17/49 | €687,667 | €857,981 | +€170,314 | +24.8% |
| Amounts payable after more than one year | 17 | €570,723 | €746,203 | +€175,480 | +30.7% |
| Financial debts | 170/4 | €570,723 | €537,101 | -€33,622 | -5.9% |
| Other amounts payable | 178/9 | - | €209,101 | +€209,101 | |
| Amounts payable within one year | 42/48 | €116,944 | €111,778 | -€5,166 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €35,270 | €46,914 | +€11,644 | +33.0% |
| Trade debts | 44 | €11,521 | €22,665 | +€11,143 | +96.7% |
| Suppliers | 440/4 | €11,521 | €22,665 | +€11,143 | +96.7% |
| Taxes, remuneration and social security | 45 | €24,110 | €15,947 | -€8,163 | -33.9% |
| Taxes | 450/3 | €14,544 | €7,758 | -€6,786 | -46.7% |
| Remuneration and social security | 454/9 | €9,566 | €8,188 | -€1,377 | -14.4% |
| Other amounts payable | 47/48 | €46,042 | €26,252 | -€19,790 | -43.0% |
| Turnover | 70 | €233,585 | €264,294 | +€30,709 | +13.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €119,038 | €147,701 | +€28,663 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,504 | €27,418 | +€914 | +3.4% |
| Other operating charges | 640/8 | €7,551 | €7,780 | +€229 | +3.0% |
| Gross operating margin | 9900 | €114,547 | €117,227 | +€2,680 | +2.3% |
| Operating profit (loss) | 9901 | €80,493 | €82,029 | +€1,537 | +1.9% |
| Financial charges | 65/66B | €54,719 | €24,371 | -€30,348 | -55.5% |
| Recurring financial charges | 65 | €54,719 | €24,371 | -€30,348 | -55.5% |
| Profit (loss) for the period before taxes | 9903 | €25,773 | €57,658 | +€31,885 | +124% |
| Income taxes | 67/77 | €6,756 | €13,721 | +€6,965 | +103% |
| Profit (loss) for the period | 9904 | €19,017 | €43,937 | +€24,920 | +131% |
| Profit (loss) for the period to be appropriated | 9905 | €19,017 | €43,937 | +€24,920 | +131% |
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 4 November 2026 via checked.be.