GOLDEN LINING: 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 LINING
Largest movements
- Stocks and contracts +€26,015
up €26,015 (+27.4%), from €95,060 to €121,075
- Tangible fixed assets -€13,102
down €13,102 (-9.3%), from €141,351 to €128,249
of which Land and buildings: -€7,527
- Other debts +€136,865
up €136,865 (+123%), from €111,491 to €248,356
- Reserves -€111,904
down €111,904 (-100%), from €111,904 to €0
- Tax, wage and social debts -€12,657
down €12,657 (-42.9%), from €29,473 to €16,816
of which Remuneration and social security: -€7,178
- Debts after one year -€7,597
down €7,597 (-7.9%), from €95,825 to €88,227
- Trade debts +€6,773
up €6,773 (+89.8%), from €7,538 to €14,311
- Gross operating margin -€6,116
down €6,116 (-6.3%), from €96,700 to €90,584
- Taxes -€1,212
down €1,212 (-7.6%), from €15,914 to €14,702
- Financial charges +€1,167
up €1,167 (+29.1%), from €4,005 to €5,172
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 | €366,698 | €378,307 | +€11,610 | +3.2% |
| Fixed assets | 21/28 | €141,351 | €128,249 | -€13,102 | -9.3% |
| Tangible fixed assets | 22/27 | €141,351 | €128,249 | -€13,102 | -9.3% |
| Land and buildings | 22 | €125,086 | €117,559 | -€7,527 | -6.0% |
| Plant, machinery and equipment | 23 | €9,485 | €6,288 | -€3,196 | -33.7% |
| Furniture and vehicles | 24 | €6,781 | €4,402 | -€2,378 | -35.1% |
| Current assets | 29/58 | €225,346 | €250,058 | +€24,712 | +11.0% |
| Stocks and contracts in progress | 3 | €95,060 | €121,075 | +€26,015 | +27.4% |
| Stocks | 30/36 | €95,060 | €121,075 | +€26,015 | +27.4% |
| Amounts receivable within one year | 40/41 | €2,871 | €510 | -€2,361 | -82.2% |
| Trade receivables | 40 | €785 | €0 | -€785 | -100% |
| Other amounts receivable | 41 | €2,086 | €510 | -€1,577 | -75.6% |
| Cash at bank and in hand | 54/58 | €122,628 | €125,816 | +€3,189 | +2.6% |
| Deferred charges and accrued income | 490/1 | €4,788 | €2,657 | -€2,130 | -44.5% |
| Total equity and liabilities | 10/49 | €366,698 | €378,307 | +€11,610 | +3.2% |
| Equity | 10/15 | €114,904 | €3,000 | -€111,904 | -97.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €111,904 | €0 | -€111,904 | -100% |
| Distributable reserves | 133 | €111,904 | €0 | -€111,904 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €251,794 | €375,307 | +€123,513 | +49.1% |
| Amounts payable after more than one year | 17 | €95,825 | €88,227 | -€7,597 | -7.9% |
| Financial debts | 170/4 | €95,825 | €88,227 | -€7,597 | -7.9% |
| Amounts payable within one year | 42/48 | €155,969 | €287,080 | +€131,110 | +84.1% |
| Current portion of amounts payable after more than one year | 42 | €7,467 | €7,597 | +€130 | +1.7% |
| Trade debts | 44 | €7,538 | €14,311 | +€6,773 | +89.8% |
| Suppliers | 440/4 | €7,538 | €14,311 | +€6,773 | +89.8% |
| Taxes, remuneration and social security | 45 | €29,473 | €16,816 | -€12,657 | -42.9% |
| Taxes | 450/3 | €13,362 | €7,882 | -€5,479 | -41.0% |
| Remuneration and social security | 454/9 | €16,111 | €8,934 | -€7,178 | -44.6% |
| Other amounts payable | 47/48 | €111,491 | €248,356 | +€136,865 | +123% |
| Remuneration, social security and pensions | 62 | €187 | €0 | -€187 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,181 | €16,695 | +€514 | +3.2% |
| Other operating charges | 640/8 | €1,180 | €2,140 | +€960 | +81.4% |
| Gross operating margin | 9900 | €96,700 | €90,584 | -€6,116 | -6.3% |
| Operating profit (loss) | 9901 | €79,152 | €71,749 | -€7,403 | -9.4% |
| Financial income | 75/76B | €436 | €1,009 | +€573 | +131% |
| Recurring financial income | 75 | €436 | €1,009 | +€573 | +131% |
| Financial charges | 65/66B | €4,005 | €5,172 | +€1,167 | +29.1% |
| Recurring financial charges | 65 | €4,005 | €5,172 | +€1,167 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €75,583 | €67,586 | -€7,997 | -10.6% |
| Income taxes | 67/77 | €15,914 | €14,702 | -€1,212 | -7.6% |
| Profit (loss) for the period | 9904 | €59,669 | €52,884 | -€6,785 | -11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,669 | €52,884 | -€6,785 | -11.4% |
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.