GOLDEN TRANSPORT: what changed
GOLDEN TRANSPORT
Largest movements
- Receivables within one year +€27,042
up €27,042 (+24.5%), from €110,349 to €137,391
of which Trade receivables: +€54,775
- Cash -€21,315
down €21,315 (-89.5%), from €23,814 to €2,499
mainly Investment in fixed assets (net) (-€83,037) and Net result for the year (-€66,420)
- Tangible fixed assets +€21,008
up €21,008 (+10.6%), from €198,653 to €219,662
- Tax, wage and social debts +€69,609
up €69,609 (+733%), from €9,501 to €79,110
of which Remuneration and social security: +€68,389
- Profit (loss) carried forward -€66,420
down €66,420 (-64.2%), from €103,381 to €36,961
- Current portion of long-term debt +€16,404
up €16,404 (+29.7%), from €55,182 to €71,587
- Debts after one year +€3,930
up €3,930 (+3.2%), from €124,620 to €128,549
- Staff costs +€74,662
up €74,662 (+82.8%), from €90,203 to €164,865
- Gross operating margin +€33,360
up €33,360 (+20.9%), from €159,718 to €193,078
- Depreciation +€21,282
up €21,282 (+52.6%), from €40,429 to €61,711
- Other operating charges -€10,203
down €10,203 (-76.6%), from €13,328 to €3,125
- Taxes +€2,162
new in 2025: €2,162
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 | €332,825 | €359,870 | +€27,045 | +8.1% |
| Fixed assets | 21/28 | €198,653 | €219,979 | +€21,326 | +10.7% |
| Tangible fixed assets | 22/27 | €198,653 | €219,662 | +€21,008 | +10.6% |
| Furniture and vehicles | 24 | €198,653 | €219,662 | +€21,008 | +10.6% |
| Financial fixed assets | 28 | - | €318 | +€318 | |
| Current assets | 29/58 | €134,171 | €139,890 | +€5,719 | +4.3% |
| Amounts receivable within one year | 40/41 | €110,349 | €137,391 | +€27,042 | +24.5% |
| Trade receivables | 40 | €44,372 | €99,147 | +€54,775 | +123% |
| Other amounts receivable | 41 | €65,977 | €38,244 | -€27,734 | -42.0% |
| Cash at bank and in hand | 54/58 | €23,814 | €2,499 | -€21,315 | -89.5% |
| Deferred charges and accrued income | 490/1 | €8 | - | -€8 | |
| Total equity and liabilities | 10/49 | €332,825 | €359,870 | +€27,045 | +8.1% |
| Equity | 10/15 | €123,841 | €57,421 | -€66,420 | -53.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,381 | €36,961 | -€66,420 | -64.2% |
| Amounts payable | 17/49 | €208,984 | €302,449 | +€93,465 | +44.7% |
| Amounts payable after more than one year | 17 | €124,620 | €128,549 | +€3,930 | +3.2% |
| Financial debts | 170/4 | €124,620 | €128,549 | +€3,930 | +3.2% |
| Amounts payable within one year | 42/48 | €84,364 | €173,899 | +€89,535 | +106% |
| Current portion of amounts payable after more than one year | 42 | €55,182 | €71,587 | +€16,404 | +29.7% |
| Trade debts | 44 | €19,681 | €23,202 | +€3,522 | +17.9% |
| Suppliers | 440/4 | €19,681 | €23,202 | +€3,522 | +17.9% |
| Taxes, remuneration and social security | 45 | €9,501 | €79,110 | +€69,609 | +733% |
| Taxes | 450/3 | €6,787 | €8,007 | +€1,220 | +18.0% |
| Remuneration and social security | 454/9 | €2,714 | €71,103 | +€68,389 | +2,520% |
| Remuneration, social security and pensions | 62 | €90,203 | €164,865 | +€74,662 | +82.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,429 | €61,711 | +€21,282 | +52.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €271 | - | -€271 | |
| Other operating charges | 640/8 | €13,328 | €3,125 | -€10,203 | -76.6% |
| Non-recurring operating charges | 66A | - | €19,835 | +€19,835 | |
| Gross operating margin | 9900 | €159,718 | €193,078 | +€33,360 | +20.9% |
| Operating profit (loss) | 9901 | €15,486 | -€56,459 | -€71,944 | |
| Financial charges | 65/66B | €7,330 | €7,799 | +€469 | +6.4% |
| Recurring financial charges | 65 | €7,330 | €7,799 | +€469 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €8,156 | -€64,257 | -€72,413 | |
| Income taxes | 67/77 | - | €2,162 | +€2,162 | |
| Profit (loss) for the period | 9904 | €8,156 | -€66,420 | -€74,575 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,156 | -€66,420 | -€74,575 |
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 5 November 2026 via checked.be.