GOLDEN SET: 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 SET
Largest movements
- Cash +€14,398
up €14,398 (+241%), from €5,972 to €20,370
mainly Short-term financial debts (+€203,708) and Depreciation (+€54,068)
- Short-term financial debts +€203,708
new in 2025: €203,708
- Other debts -€120,351
down €120,351 (-25.4%), from €473,709 to €353,358
- Debts after one year -€49,882
down €49,882 (-11.7%), from €426,888 to €377,006
- Profit (loss) carried forward -€19,751
down €19,751 (-11.1%), from -€177,233 to -€196,984
- Gross operating margin +€5,013
up €5,013 (+9.7%), from €51,427 to €56,439
- Financial charges +€3,215
up €3,215 (+18.1%), from €17,795 to €21,011
- Depreciation +€3,127
up €3,127 (+6.1%), from €50,941 to €54,068
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 | €1,026,498 | €1,041,711 | +€15,213 | +1.5% |
| Fixed assets | 21/28 | €1,015,678 | €1,013,816 | -€1,862 | -0.2% |
| Tangible fixed assets | 22/27 | €1,015,678 | €1,013,816 | -€1,862 | -0.2% |
| Land and buildings | 22 | €993,240 | €996,287 | +€3,047 | +0.3% |
| Plant, machinery and equipment | 23 | €9,698 | €7,719 | -€1,979 | -20.4% |
| Furniture and vehicles | 24 | €12,740 | €9,810 | -€2,931 | -23.0% |
| Current assets | 29/58 | €10,819 | €27,894 | +€17,075 | +158% |
| Amounts receivable within one year | 40/41 | €4,317 | €7,009 | +€2,692 | +62.4% |
| Trade receivables | 40 | €2,443 | €2,727 | +€283 | +11.6% |
| Other amounts receivable | 41 | €1,873 | €4,282 | +€2,409 | +129% |
| Cash at bank and in hand | 54/58 | €5,972 | €20,370 | +€14,398 | +241% |
| Deferred charges and accrued income | 490/1 | €531 | €516 | -€15 | -2.9% |
| Total equity and liabilities | 10/49 | €1,026,498 | €1,041,711 | +€15,213 | +1.5% |
| Equity | 10/15 | €72,767 | €53,016 | -€19,751 | -27.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€177,233 | -€196,984 | -€19,751 | -11.1% |
| Amounts payable | 17/49 | €953,731 | €988,695 | +€34,964 | +3.7% |
| Amounts payable after more than one year | 17 | €426,888 | €377,006 | -€49,882 | -11.7% |
| Financial debts | 170/4 | €426,888 | €377,006 | -€49,882 | -11.7% |
| Amounts payable within one year | 42/48 | €526,843 | €611,688 | +€84,845 | +16.1% |
| Current portion of amounts payable after more than one year | 42 | €49,384 | €49,882 | +€498 | +1.0% |
| Financial debts | 43 | - | €203,708 | +€203,708 | |
| Other loans | 439 | - | €203,708 | +€203,708 | |
| Trade debts | 44 | €0 | €990 | +€990 | |
| Suppliers | 440/4 | €0 | €990 | +€990 | |
| Taxes, remuneration and social security | 45 | €3,750 | €3,750 | = | 0.0% |
| Taxes | 450/3 | €3,750 | €3,750 | = | 0.0% |
| Other amounts payable | 47/48 | €473,709 | €353,358 | -€120,351 | -25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,941 | €54,068 | +€3,127 | +6.1% |
| Other operating charges | 640/8 | €1,447 | €1,293 | -€154 | -10.6% |
| Gross operating margin | 9900 | €51,427 | €56,439 | +€5,013 | +9.7% |
| Operating profit (loss) | 9901 | -€961 | €1,079 | +€2,040 | |
| Financial income | 75/76B | - | €181 | +€181 | |
| Recurring financial income | 75 | - | €181 | +€181 | |
| Financial charges | 65/66B | €17,795 | €21,011 | +€3,215 | +18.1% |
| Recurring financial charges | 65 | €17,795 | €21,011 | +€3,215 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | -€18,756 | -€19,751 | -€994 | -5.3% |
| Profit (loss) for the period | 9904 | -€18,756 | -€19,751 | -€994 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,756 | -€19,751 | -€994 | -5.3% |
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.