GOLDEN HM: 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 HM
Largest movements
- Stocks and contracts -€15,420
down €15,420 (-19.7%), from €78,456 to €63,036
- Cash +€2,787
up €2,787 (+214%), from €1,302 to €4,089
mainly Stocks and contracts (+€15,420) and Net result for the year (+€10,705)
- Trade debts -€19,985
down €19,985 (-88.2%), from €22,651 to €2,666
- Profit (loss) carried forward +€10,449
up €10,449 (+50.1%), from -€20,869 to -€10,420
- Other debts -€9,551
down €9,551 (-19.1%), from €50,114 to €40,563
- Tax, wage and social debts +€6,705
up €6,705 (+45.0%), from €14,912 to €21,617
of which Taxes: +€10,038
- Staff costs -€13,778
down €13,778 (-28.3%), from €48,764 to €34,986
- Gross operating margin -€8,925
down €8,925 (-15.4%), from €57,830 to €48,905
- Other operating charges -€1,847
down €1,847 (-43.6%), from €4,241 to €2,394
- Depreciation -€1,511
down €1,511 (-68.3%), from €2,213 to €702
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 | €85,408 | €72,819 | -€12,589 | -14.7% |
| Fixed assets | 21/28 | €1,843 | €1,141 | -€702 | -38.1% |
| Tangible fixed assets | 22/27 | €1,818 | €1,116 | -€702 | -38.6% |
| Plant, machinery and equipment | 23 | €1,573 | €1,116 | -€457 | -29.1% |
| Furniture and vehicles | 24 | €245 | - | -€245 | |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €83,565 | €71,678 | -€11,887 | -14.2% |
| Stocks and contracts in progress | 3 | €78,456 | €63,036 | -€15,420 | -19.7% |
| Stocks | 30/36 | €78,456 | €63,036 | -€15,420 | -19.7% |
| Amounts receivable within one year | 40/41 | €3,807 | €4,553 | +€746 | +19.6% |
| Trade receivables | 40 | €3,306 | - | -€3,306 | |
| Other amounts receivable | 41 | €501 | €4,553 | +€4,052 | +809% |
| Cash at bank and in hand | 54/58 | €1,302 | €4,089 | +€2,787 | +214% |
| Total equity and liabilities | 10/49 | €85,408 | €72,819 | -€12,589 | -14.7% |
| Equity | 10/15 | -€2,269 | €7,973 | +€10,242 | |
| Contributions | 10/11 | €18,600 | €18,393 | -€207 | -1.1% |
| Capital | 10 | €18,600 | €18,393 | -€207 | -1.1% |
| Issued capital | 100 | €18,600 | €18,393 | -€207 | -1.1% |
| Profit (loss) carried forward | 14 | -€20,869 | -€10,420 | +€10,449 | +50.1% |
| Amounts payable | 17/49 | €87,677 | €64,846 | -€22,831 | -26.0% |
| Amounts payable within one year | 42/48 | €87,677 | €64,846 | -€22,831 | -26.0% |
| Trade debts | 44 | €22,651 | €2,666 | -€19,985 | -88.2% |
| Suppliers | 440/4 | €22,651 | €2,666 | -€19,985 | -88.2% |
| Taxes, remuneration and social security | 45 | €14,912 | €21,617 | +€6,705 | +45.0% |
| Taxes | 450/3 | €9,531 | €19,569 | +€10,038 | +105% |
| Remuneration and social security | 454/9 | €5,381 | €2,048 | -€3,333 | -61.9% |
| Other amounts payable | 47/48 | €50,114 | €40,563 | -€9,551 | -19.1% |
| Non-recurring operating income | 76A | €2,906 | - | -€2,906 | |
| Remuneration, social security and pensions | 62 | €48,764 | €34,986 | -€13,778 | -28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,213 | €702 | -€1,511 | -68.3% |
| Other operating charges | 640/8 | €4,241 | €2,394 | -€1,847 | -43.6% |
| Gross operating margin | 9900 | €57,830 | €48,905 | -€8,925 | -15.4% |
| Operating profit (loss) | 9901 | €2,612 | €10,823 | +€8,211 | +314% |
| Financial charges | 65/66B | €151 | €118 | -€33 | -21.9% |
| Recurring financial charges | 65 | €151 | €118 | -€33 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €2,461 | €10,705 | +€8,244 | +335% |
| Profit (loss) for the period | 9904 | €2,461 | €10,705 | +€8,244 | +335% |
| Profit (loss) for the period to be appropriated | 9905 | €2,461 | €10,705 | +€8,244 | +335% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.