Golden River: 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 River
Largest movements
- Cash +€33,305
up €33,305 (+10.5%), from €316,546 to €349,851
mainly Net result for the year (+€45,879) and Depreciation (+€12,938)
- Tangible fixed assets +€9,986
up €9,986 (+51.7%), from €19,306 to €29,292
of which Furniture and vehicles: +€15,918
- Reserves +€45,879
up €45,879 (+15.3%), from €300,724 to €346,603
- Gross operating margin -€26,445
down €26,445 (-11.0%), from €240,788 to €214,343
- Staff costs +€19,157
up €19,157 (+16.6%), from €115,507 to €134,664
- Taxes -€18,056
down €18,056 (-50.3%), from €35,884 to €17,828
- Depreciation +€5,652
up €5,652 (+77.6%), from €7,286 to €12,938
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 | €342,030 | €387,653 | +€45,623 | +13.3% |
| Fixed assets | 21/28 | €19,306 | €29,292 | +€9,986 | +51.7% |
| Tangible fixed assets | 22/27 | €19,306 | €29,292 | +€9,986 | +51.7% |
| Plant, machinery and equipment | 23 | €19,306 | €13,374 | -€5,932 | -30.7% |
| Furniture and vehicles | 24 | - | €15,918 | +€15,918 | |
| Current assets | 29/58 | €322,724 | €358,361 | +€35,637 | +11.0% |
| Stocks and contracts in progress | 3 | €3,227 | €5,414 | +€2,187 | +67.8% |
| Stocks | 30/36 | €3,227 | €5,414 | +€2,187 | +67.8% |
| Amounts receivable within one year | 40/41 | €67 | €192 | +€125 | +188% |
| Other amounts receivable | 41 | €67 | €192 | +€125 | +188% |
| Cash at bank and in hand | 54/58 | €316,546 | €349,851 | +€33,305 | +10.5% |
| Deferred charges and accrued income | 490/1 | €2,884 | €2,904 | +€20 | +0.7% |
| Total equity and liabilities | 10/49 | €342,030 | €387,653 | +€45,623 | +13.3% |
| Equity | 10/15 | €310,724 | €356,603 | +€45,879 | +14.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €300,724 | €346,603 | +€45,879 | +15.3% |
| Distributable reserves | 133 | €300,724 | €346,603 | +€45,879 | +15.3% |
| Amounts payable | 17/49 | €31,306 | €31,050 | -€256 | -0.8% |
| Amounts payable within one year | 42/48 | €31,306 | €29,555 | -€1,750 | -5.6% |
| Trade debts | 44 | €3,212 | €3,612 | +€401 | +12.5% |
| Suppliers | 440/4 | €3,212 | €3,612 | +€401 | +12.5% |
| Taxes, remuneration and social security | 45 | €14,782 | €11,779 | -€3,003 | -20.3% |
| Taxes | 450/3 | €4,656 | €1,680 | -€2,976 | -63.9% |
| Remuneration and social security | 454/9 | €10,126 | €10,099 | -€27 | -0.3% |
| Other amounts payable | 47/48 | €13,312 | €14,164 | +€852 | +6.4% |
| Accrued charges and deferred income | 492/3 | - | €1,495 | +€1,495 | |
| Remuneration, social security and pensions | 62 | €115,507 | €134,664 | +€19,157 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,286 | €12,938 | +€5,652 | +77.6% |
| Other operating charges | 640/8 | €2,142 | €2,260 | +€117 | +5.5% |
| Gross operating margin | 9900 | €240,788 | €214,343 | -€26,445 | -11.0% |
| Operating profit (loss) | 9901 | €115,853 | €64,481 | -€51,372 | -44.3% |
| Financial income | 75/76B | €7 | €43 | +€35 | +481% |
| Recurring financial income | 75 | €7 | €43 | +€35 | +481% |
| Financial charges | 65/66B | €1,035 | €817 | -€217 | -21.0% |
| Recurring financial charges | 65 | €1,035 | €817 | -€217 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €114,826 | €63,706 | -€51,119 | -44.5% |
| Income taxes | 67/77 | €35,884 | €17,828 | -€18,056 | -50.3% |
| Profit (loss) for the period | 9904 | €78,942 | €45,879 | -€33,063 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €78,942 | €45,879 | -€33,063 | -41.9% |
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 14 October 2026 via checked.be.