Goldline: what changed
Two fiscal 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.
Goldline
Largest movements
- Stocks and contracts -€395,334
down €395,334 (-45.2%), from €874,166 to €478,832
- Cash +€54,781
up €54,781 (+279.3%), from €19,612 to €74,393
mainly Stocks and contracts (+€395,334) and Depreciation (+€18,638)
- Short-term financial debts -€337,000
down €337,000 (-28.0%), from €1.2m to €865,000
- Gross operating margin -€50,589
down €50,589 (-33.1%), from €152,945 to €102,356
- Financial charges +€45,415
up €45,415 (+145.1%), from €31,295 to €76,710
- Other operating charges -€43,735
down €43,735 (-87.5%), from €49,973 to €6,238
- Taxes -€14,001
down €14,001 (-98.5%), from €14,214 to €213
- Depreciation +€3,819
up €3,819 (+25.8%), from €14,819 to €18,638
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.
Cash bridge derived
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 | €1,828,959 | €1,494,753 | -€334,206 | -18.3% |
| Fixed assets | 21/28 | €835,181 | €841,528 | +€6,347 | +0.8% |
| Tangible fixed assets | 22/27 | €835,181 | €841,528 | +€6,347 | +0.8% |
| Land and buildings | 22 | €835,181 | €841,528 | +€6,347 | +0.8% |
| Current assets | 29/58 | €993,779 | €653,226 | -€340,553 | -34.3% |
| Stocks and contracts in progress | 3 | €874,166 | €478,832 | -€395,334 | -45.2% |
| Stocks | 30/36 | €874,166 | €478,832 | -€395,334 | -45.2% |
| Amounts receivable within one year | 40/41 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 41 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,612 | €74,393 | +€54,781 | +279.3% |
| Total equity and liabilities | 10/49 | €1,828,959 | €1,494,753 | -€334,206 | -18.3% |
| Equity | 10/15 | €50,643 | €51,200 | +€557 | +1.1% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,643 | €43,200 | +€557 | +1.3% |
| Amounts payable | 17/49 | €1,778,316 | €1,443,553 | -€334,763 | -18.8% |
| Amounts payable within one year | 42/48 | €1,778,316 | €1,443,553 | -€334,763 | -18.8% |
| Financial debts | 43 | €1,202,000 | €865,000 | -€337,000 | -28.0% |
| Credit institutions | 430/8 | €1,202,000 | €865,000 | -€337,000 | -28.0% |
| Trade debts | 44 | €2,301 | €18,539 | +€16,238 | +705.7% |
| Suppliers | 440/4 | €2,301 | €18,539 | +€16,238 | +705.7% |
| Taxes, remuneration and social security | 45 | €14,214 | €213 | -€14,001 | -98.5% |
| Taxes | 450/3 | €14,214 | €213 | -€14,001 | -98.5% |
| Other amounts payable | 47/48 | €559,801 | €559,801 | = | 0.0% |
| Non-recurring operating income | 76A | - | €30,000 | +€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,819 | €18,638 | +€3,819 | +25.8% |
| Other operating charges | 640/8 | €49,973 | €6,238 | -€43,735 | -87.5% |
| Gross operating margin | 9900 | €152,945 | €102,356 | -€50,589 | -33.1% |
| Operating profit (loss) | 9901 | €88,153 | €77,479 | -€10,673 | -12.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €31,295 | €76,710 | +€45,415 | +145.1% |
| Recurring financial charges | 65 | €31,295 | €76,710 | +€45,415 | +145.1% |
| Profit (loss) for the period before taxes | 9903 | €56,858 | €770 | -€56,087 | -98.6% |
| Income taxes | 67/77 | €14,214 | €213 | -€14,001 | -98.5% |
| Profit (loss) for the period | 9904 | €42,643 | €557 | -€42,086 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,643 | €557 | -€42,086 | -98.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.