GOLDEN PRETZEL: what changed
GOLDEN PRETZEL
Largest movements
- Receivables within one year -€9,929
down €9,929 (-92.4%), from €10,747 to €817
- Tangible fixed assets +€7,467
up €7,467 (+99.7%), from €7,493 to €14,960
of which Furniture and vehicles: +€10,180
- Cash -€6,064
down €6,064 (-86.0%), from €7,055 to €990
mainly Debts after one year (-€15,100) and Investment in fixed assets (net) (-€11,365)
- Stocks and contracts -€1,659
down €1,659 (-82.0%), from €2,024 to €365
- Debts after one year -€15,100
down €15,100 (-60.4%), from €25,001 to €9,901
- Current portion of long-term debt +€7,661
new in 2025: €7,661
- Profit (loss) carried forward -€5,930
down €5,930 (-59.0%), from -€10,055 to -€15,985
- Trade debts +€2,026
up €2,026 (+54.6%), from €3,714 to €5,740
- Tax, wage and social debts +€1,157
up €1,157 (+33.5%), from €3,457 to €4,614
of which Remuneration and social security: +€2,107
- Staff costs +€16,669
up €16,669 (+90.2%), from €18,476 to €35,146
- Gross operating margin -€2,564
down €2,564 (-7.1%), from €36,361 to €33,797
- Depreciation +€945
up €945 (+32.0%), from €2,953 to €3,898
- Financial charges -€899
down €899 (-43.1%), from €2,088 to €1,188
- Financial income -€679
down €679 (-47.5%), from €1,431 to €752
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 | €34,616 | €24,431 | -€10,185 | -29.4% |
| Fixed assets | 21/28 | €14,791 | €22,259 | +€7,467 | +50.5% |
| Tangible fixed assets | 22/27 | €7,493 | €14,960 | +€7,467 | +99.7% |
| Plant, machinery and equipment | 23 | €6,711 | €3,997 | -€2,713 | -40.4% |
| Furniture and vehicles | 24 | €783 | €10,963 | +€10,180 | +1,301% |
| Financial fixed assets | 28 | €7,298 | €7,298 | = | 0.0% |
| Current assets | 29/58 | €19,825 | €2,173 | -€17,652 | -89.0% |
| Stocks and contracts in progress | 3 | €2,024 | €365 | -€1,659 | -82.0% |
| Stocks | 30/36 | €2,024 | €365 | -€1,659 | -82.0% |
| Amounts receivable within one year | 40/41 | €10,747 | €817 | -€9,929 | -92.4% |
| Other amounts receivable | 41 | €10,747 | €817 | -€9,929 | -92.4% |
| Cash at bank and in hand | 54/58 | €7,055 | €990 | -€6,064 | -86.0% |
| Total equity and liabilities | 10/49 | €34,616 | €24,431 | -€10,185 | -29.4% |
| Equity | 10/15 | €2,445 | -€3,485 | -€5,930 | |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,055 | -€15,985 | -€5,930 | -59.0% |
| Amounts payable | 17/49 | €32,171 | €27,916 | -€4,255 | -13.2% |
| Amounts payable after more than one year | 17 | €25,001 | €9,901 | -€15,100 | -60.4% |
| Financial debts | 170/4 | €25,001 | €9,901 | -€15,100 | -60.4% |
| Amounts payable within one year | 42/48 | €7,171 | €18,015 | +€10,844 | +151% |
| Current portion of amounts payable after more than one year | 42 | - | €7,661 | +€7,661 | |
| Trade debts | 44 | €3,714 | €5,740 | +€2,026 | +54.6% |
| Suppliers | 440/4 | €3,714 | €5,740 | +€2,026 | +54.6% |
| Taxes, remuneration and social security | 45 | €3,457 | €4,614 | +€1,157 | +33.5% |
| Taxes | 450/3 | €991 | €41 | -€950 | -95.9% |
| Remuneration and social security | 454/9 | €2,466 | €4,573 | +€2,107 | +85.5% |
| Remuneration, social security and pensions | 62 | €18,476 | €35,146 | +€16,669 | +90.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,953 | €3,898 | +€945 | +32.0% |
| Other operating charges | 640/8 | €775 | €173 | -€602 | -77.7% |
| Gross operating margin | 9900 | €36,361 | €33,797 | -€2,564 | -7.1% |
| Operating profit (loss) | 9901 | €14,156 | -€5,420 | -€19,576 | |
| Financial income | 75/76B | €1,431 | €752 | -€679 | -47.5% |
| Recurring financial income | 75 | €1,431 | €752 | -€679 | -47.5% |
| Financial charges | 65/66B | €2,088 | €1,188 | -€899 | -43.1% |
| Recurring financial charges | 65 | €2,088 | €1,188 | -€899 | -43.1% |
| Profit (loss) for the period before taxes | 9903 | €13,500 | -€5,856 | -€19,356 | |
| Income taxes | 67/77 | - | €74 | +€74 | |
| Profit (loss) for the period | 9904 | €13,500 | -€5,930 | -€19,430 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,500 | -€5,930 | -€19,430 |
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 3 November 2026 via checked.be.