GOLDEN GATE ONE: 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 GATE ONE
Largest movements
- Tangible fixed assets -€244,006
down €244,006 (-3.0%), from €8.1m to €7.9m
- Cash +€155,152
up €155,152 (+14.7%), from €1.1m to €1.2m
mainly Current portion of long-term debt (+€5.3m) and Depreciation (+€256,401)
- Debts after one year -€5.5m
down €5.5m (-100%), from €5.5m to €0
- Current portion of long-term debt +€5.3m
up €5.3m (+2,100%), from €250,000 to €5.5m
- Profit (loss) carried forward +€160,381
up €160,381 (+36.2%), from -€442,531 to -€282,150
- Depreciation -€33,085
down €33,085 (-11.4%), from €289,486 to €256,401
- Gross operating margin +€29,654
up €29,654 (+5.4%), from €552,461 to €582,115
- Other operating charges +€8,115
up €8,115 (+9.9%), from €81,960 to €90,075
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 | €9,589,596 | €9,521,882 | -€67,713 | -0.7% |
| Fixed assets | 21/28 | €8,094,297 | €7,850,292 | -€244,006 | -3.0% |
| Tangible fixed assets | 22/27 | €8,094,297 | €7,850,292 | -€244,006 | -3.0% |
| Land and buildings | 22 | €8,094,297 | €7,850,292 | -€244,006 | -3.0% |
| Current assets | 29/58 | €1,495,299 | €1,671,591 | +€176,292 | +11.8% |
| Amounts receivable within one year | 40/41 | €201,088 | €251,386 | +€50,298 | +25.0% |
| Trade receivables | 40 | €199,693 | €248,259 | +€48,567 | +24.3% |
| Other amounts receivable | 41 | €1,395 | €3,126 | +€1,731 | +124% |
| Cash at bank and in hand | 54/58 | €1,052,608 | €1,207,760 | +€155,152 | +14.7% |
| Deferred charges and accrued income | 490/1 | €241,603 | €212,445 | -€29,158 | -12.1% |
| Total equity and liabilities | 10/49 | €9,589,596 | €9,521,882 | -€67,713 | -0.7% |
| Equity | 10/15 | €3,625,669 | €3,786,050 | +€160,381 | +4.4% |
| Contributions | 10/11 | €4,062,000 | €4,062,000 | = | 0.0% |
| Capital | 10 | €4,062,000 | €4,062,000 | = | 0.0% |
| Issued capital | 100 | €4,062,000 | €4,062,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€442,531 | -€282,150 | +€160,381 | +36.2% |
| Amounts payable | 17/49 | €5,963,927 | €5,735,832 | -€228,094 | -3.8% |
| Amounts payable after more than one year | 17 | €5,500,000 | €0 | -€5.5m | -100% |
| Financial debts | 170/4 | €5,500,000 | €0 | -€5.5m | -100% |
| Amounts payable within one year | 42/48 | €304,968 | €5,566,931 | +€5.3m | +1,725% |
| Current portion of amounts payable after more than one year | 42 | €250,000 | €5,500,000 | +€5.3m | +2,100% |
| Trade debts | 44 | €4,880 | €9,304 | +€4,424 | +90.7% |
| Suppliers | 440/4 | €4,880 | €9,304 | +€4,424 | +90.7% |
| Taxes, remuneration and social security | 45 | €50,089 | €57,627 | +€7,539 | +15.1% |
| Taxes | 450/3 | €50,089 | €57,627 | +€7,539 | +15.1% |
| Accrued charges and deferred income | 492/3 | €158,958 | €168,902 | +€9,943 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €289,486 | €256,401 | -€33,085 | -11.4% |
| Other operating charges | 640/8 | €81,960 | €90,075 | +€8,115 | +9.9% |
| Gross operating margin | 9900 | €552,461 | €582,115 | +€29,654 | +5.4% |
| Operating profit (loss) | 9901 | €181,015 | €235,639 | +€54,624 | +30.2% |
| Financial income | 75/76B | €4,618 | €6,148 | +€1,530 | +33.1% |
| Recurring financial income | 75 | €4,618 | €6,148 | +€1,530 | +33.1% |
| Financial charges | 65/66B | €85,425 | €81,303 | -€4,122 | -4.8% |
| Recurring financial charges | 65 | €85,425 | €81,303 | -€4,122 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €100,208 | €160,484 | +€60,276 | +60.2% |
| Income taxes | 67/77 | -€10 | €103 | +€113 | |
| Profit (loss) for the period | 9904 | €100,218 | €160,381 | +€60,163 | +60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €100,218 | €160,381 | +€60,163 | +60.0% |
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 22 October 2026 via checked.be.