Golden NN: 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.
What changed
Golden NN
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€118,073
2024 · -€3,456+€121,529
Equity
€909,627
2024 · €545,338+€364,290
Cash
€21,606
2024 · €19,794+€1,812
Balance sheet total
€13.8m
2024 · €7.3m+€6.5m
Largest movements
Assets
- Receivables after one year +€13.0m
new in 2025: €13.0m
- Tangible fixed assets -€7.3m
down €7.3m (-100%), from €7.3m to €0
- Receivables within one year +€772,211
up €772,211 (+2,966%), from €26,038 to €798,249
of which Other amounts receivable: +€770,385
Equity and liabilities
- Debts after one year +€3.6m
up €3.6m (+58.2%), from €6.2m to €9.7m
- Trade debts +€2.0m
up €2.0m (+554%), from €364,178 to €2.4m
- Provisions +€246,970
new in 2025: €246,970
- Investment grants +€246,217
up €246,217 (+49.8%), from €494,692 to €740,909
- Accrued charges and deferred income +€200,744
up €200,744 (+80.8%), from €248,423 to €449,168
Income statement
- Other operating income +€437,383
new in 2025: €437,383
- Goods and materials -€420,514
down €420,514 (-7.7%), from €5.5m to €5.1m
- Services and other goods +€260,702
up €260,702 (+12,052%), from €2,163 to €262,865
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.
Result 2024
-€3,456
Other operating charges
-€613
Other operating items
+€212,017
Financial income
+€2,089
Financial charges
-€53,295
Taxes
-€39,046
Deferred taxes and other
+€376
Result 2025
€118,073
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€11.1m
Investment
+€7.3m
Financing
+€3.8m
Cash 2024
€19,794
From operations (derived)
-€11.1m
Net result for the year
+€118,073
Receivables after one year
-€13.0m
Receivables within one year
-€772,211
Deferred charges and accrued income
-€15,295
Provisions
+€246,970
Trade debts
+€2.0m
Tax, wage and social debts
+€39,046
Other debts
+€41,031
Accrued charges and deferred income
+€200,744
Investment (derived)
+€7.3m
Investment in fixed assets (net)
+€7.3m
Financing
+€3.8m
Debts after one year
+€3.6m
Contributions, distributions and other
+€246,217
Cash 2025
€21,606
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,308,885 | €13,797,952 | +€6.5m | +88.8% |
| Fixed assets | 21/28 | €7,251,608 | €0 | -€7.3m | -100% |
| Tangible fixed assets | 22/27 | €7,251,608 | €0 | -€7.3m | -100% |
| Assets under construction and advance payments | 27 | €7,251,608 | €0 | -€7.3m | -100% |
| Current assets | 29/58 | €57,277 | €13,797,952 | +€13.7m | +23,990% |
| Amounts receivable after more than one year | 29 | - | €12,951,357 | +€13.0m | |
| Other amounts receivable | 291 | - | €12,951,357 | +€13.0m | |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €26,038 | €798,249 | +€772,211 | +2,966% |
| Trade receivables | 40 | - | €1,826 | +€1,826 | |
| Other amounts receivable | 41 | €26,038 | €796,422 | +€770,385 | +2,959% |
| Cash at bank and in hand | 54/58 | €19,794 | €21,606 | +€1,812 | +9.2% |
| Deferred charges and accrued income | 490/1 | €11,446 | €26,741 | +€15,295 | +134% |
| Total equity and liabilities | 10/49 | €7,308,885 | €13,797,952 | +€6.5m | +88.8% |
| Equity | 10/15 | €545,338 | €909,627 | +€364,290 | +66.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,854 | €107,219 | +€118,073 | |
| Investment grants | 15 | €494,692 | €740,909 | +€246,217 | +49.8% |
| Provisions and deferred taxes | 16 | - | €246,970 | +€246,970 | |
| Deferred taxes | 168 | - | €246,970 | +€246,970 | |
| Amounts payable | 17/49 | €6,763,548 | €12,641,355 | +€5.9m | +86.9% |
| Amounts payable after more than one year | 17 | €6,150,946 | €9,730,191 | +€3.6m | +58.2% |
| Financial debts | 170/4 | €6,150,946 | €9,730,191 | +€3.6m | +58.2% |
| Credit institutions | 173 | €3,792,446 | €7,371,691 | +€3.6m | +94.4% |
| Other loans | 174 | €2,358,500 | €2,358,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €364,178 | €2,461,996 | +€2.1m | +576% |
| Trade debts | 44 | €364,178 | €2,381,919 | +€2.0m | +554% |
| Suppliers | 440/4 | €364,178 | €2,381,919 | +€2.0m | +554% |
| Taxes, remuneration and social security | 45 | - | €39,046 | +€39,046 | |
| Taxes | 450/3 | - | €39,046 | +€39,046 | |
| Other amounts payable | 47/48 | - | €41,031 | +€41,031 | |
| Accrued charges and deferred income | 492/3 | €248,423 | €449,168 | +€200,744 | +80.8% |
| Operating income | 70/76A | €5,494,014 | €5,546,217 | +€52,204 | +1.0% |
| Own construction capitalised | 72 | €5,494,014 | €5,108,834 | -€385,179 | -7.0% |
| Other operating income | 74 | - | €437,383 | +€437,383 | |
| Operating charges | 60/66A | €5,480,690 | €5,321,490 | -€159,200 | -2.9% |
| Goods for resale, raw materials and consumables | 60 | €5,478,014 | €5,057,499 | -€420,514 | -7.7% |
| Purchases | 600/8 | €5,478,014 | €5,057,499 | -€420,514 | -7.7% |
| Services and other goods | 61 | €2,163 | €262,865 | +€260,702 | +12,052% |
| Other operating charges | 640/8 | €513 | €1,126 | +€613 | +119% |
| Operating profit (loss) | 9901 | €13,324 | €224,727 | +€211,404 | +1,587% |
| Financial income | 75/76B | - | €2,089 | +€2,089 | |
| Recurring financial income | 75 | - | €2,089 | +€2,089 | |
| Income from current assets | 751 | - | €960 | +€960 | |
| Other financial income | 752/9 | - | €1,129 | +€1,129 | |
| Financial charges | 65/66B | €16,779 | €70,074 | +€53,295 | +318% |
| Recurring financial charges | 65 | €16,779 | €70,074 | +€53,295 | +318% |
| Debt charges | 650 | €16,000 | €17,821 | +€1,821 | +11.4% |
| Other financial charges | 652/9 | €779 | €52,253 | +€51,474 | +6,608% |
| Profit (loss) for the period before taxes | 9903 | -€3,456 | €156,742 | +€160,198 | |
| Transfer from deferred taxes | 780 | - | €376 | +€376 | |
| Income taxes | 67/77 | - | €39,046 | +€39,046 | |
| Taxes | 670/3 | - | €39,046 | +€39,046 | |
| Profit (loss) for the period | 9904 | -€3,456 | €118,073 | +€121,529 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,456 | €118,073 | +€121,529 |
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 28 October 2026 via checked.be.