GOLDPRINT: 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.
What changed
GOLDPRINT
NACE 18.120, Other printing
financial year 2025 compared with 2023not consecutivefiled annual accounts (NBB)
Net result for the year
-€564,619
2023 · €284,900-€849,519
Equity
-€928,522
2023 · -€38,218-€890,304
Cash
€258,295
2023 · €7,879+€250,416
Balance sheet total
€3.5m
2023 · €2.7m+€873,128
Largest movements
Assets
- Tangible fixed assets +€598,187
up €598,187 (+63.1%), from €947,463 to €1.5m
of which Assets under construction and advance payments: +€944,859
- Cash +€250,416
up €250,416 (+3,178%), from €7,879 to €258,295
- Receivables within one year +€137,233
up €137,233 (+12.6%), from €1.1m to €1.2m
- Stocks and contracts -€108,017
down €108,017 (-19.1%), from €564,740 to €456,723
of which Contracts in progress: -€57,998
Equity and liabilities
- Current portion of long-term debt +€1.0m
up €1.0m (+407%), from €252,675 to €1.3m
- Profit (loss) carried forward -€890,304
down €890,304 (-47.7%), from -€1.9m to -€2.8m
- Other debts +€879,172
up €879,172 (+110%), from €796,974 to €1.7m
- Trade debts +€605,645
up €605,645 (+139%), from €434,523 to €1.0m
- Short-term financial debts -€468,141
no longer reported in 2025 (was €468,141)
Income statement
- Turnover -€899,322
down €899,322 (-11.6%), from €7.8m to €6.9m
- Goods and materials -€374,492
down €374,492 (-16.3%), from €2.3m to €1.9m
of which Purchases: -€220,392
- Services and other goods +€340,003
up €340,003 (+15.2%), from €2.2m to €2.6m
- Other operating income +€154,192
up €154,192 (+2,816%), from €5,476 to €159,668
From the 2023 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.
Result 2023
€284,900
Turnover
-€899,322
Other operating income
+€154,192
Goods and materials
+€374,492
Services and other goods
-€340,003
Staff costs
-€61,652
Depreciation
+€53,708
Provisions
-€14,436
Other operating charges
-€68,906
Other operating items
-€61,953
Financial income
-€2,689
Financial charges
+€17,278
Taxes
-€228
Result 2025
-€564,619
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,664,002 | €3,537,130 | +€873,128 | +32.8% |
| Fixed assets | 21/28 | €949,312 | €1,547,499 | +€598,187 | +63.0% |
| Tangible fixed assets | 22/27 | €947,463 | €1,545,650 | +€598,187 | +63.1% |
| Plant, machinery and equipment | 23 | €520,527 | €316,766 | -€203,761 | -39.1% |
| Furniture and vehicles | 24 | €8,222 | €13,159 | +€4,937 | +60.0% |
| Leasing and similar rights | 25 | €178,714 | €30,866 | -€147,848 | -82.7% |
| Assets under construction and advance payments | 27 | €240,000 | €1,184,859 | +€944,859 | +394% |
| Financial fixed assets | 28 | €1,849 | €1,849 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,849 | €1,849 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,849 | €1,849 | = | 0.0% |
| Current assets | 29/58 | €1,714,690 | €1,989,631 | +€274,941 | +16.0% |
| Stocks and contracts in progress | 3 | €564,740 | €456,723 | -€108,017 | -19.1% |
| Stocks | 30/36 | €391,653 | €341,634 | -€50,019 | -12.8% |
| Raw materials and consumables | 30/31 | €391,653 | €341,634 | -€50,019 | -12.8% |
| Contracts in progress | 37 | €173,087 | €115,089 | -€57,998 | -33.5% |
| Amounts receivable within one year | 40/41 | €1,090,571 | €1,227,804 | +€137,233 | +12.6% |
| Trade receivables | 40 | €1,090,571 | €1,227,804 | +€137,233 | +12.6% |
| Cash at bank and in hand | 54/58 | €7,879 | €258,295 | +€250,416 | +3,178% |
| Deferred charges and accrued income | 490/1 | €51,500 | €46,809 | -€4,691 | -9.1% |
| Total equity and liabilities | 10/49 | €2,664,002 | €3,537,130 | +€873,128 | +32.8% |
| Equity | 10/15 | -€38,218 | -€928,522 | -€890,304 | -2,330% |
| Contributions | 10/11 | €1,657,339 | €1,657,339 | = | 0.0% |
| Capital | 10 | €1,657,339 | €1,657,339 | = | 0.0% |
| Issued capital | 100 | €1,657,339 | €1,657,339 | = | 0.0% |
| Reserves | 13 | €172,455 | €172,455 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,734 | €60,734 | = | 0.0% |
| Legal reserve | 130 | €60,734 | €60,734 | = | 0.0% |
| Distributable reserves | 133 | €111,721 | €111,721 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,868,012 | -€2,758,316 | -€890,304 | -47.7% |
| Provisions and deferred taxes | 16 | €9,616 | €31,050 | +€21,434 | +223% |
| Provisions for liabilities and charges | 160/5 | €9,616 | €31,050 | +€21,434 | +223% |
| Other liabilities and charges | 164/5 | €9,616 | €31,050 | +€21,434 | +223% |
| Amounts payable | 17/49 | €2,692,604 | €4,434,602 | +€1.7m | +64.7% |
| Amounts payable after more than one year | 17 | €354,566 | €72,455 | -€282,111 | -79.6% |
| Financial debts | 170/4 | €354,566 | €72,455 | -€282,111 | -79.6% |
| Leasing and similar obligations | 172 | - | €16,257 | +€16,257 | |
| Credit institutions | 173 | €354,566 | €56,198 | -€298,368 | -84.2% |
| Amounts payable within one year | 42/48 | €2,338,038 | €4,357,281 | +€2.0m | +86.4% |
| Current portion of amounts payable after more than one year | 42 | €252,675 | €1,282,254 | +€1.0m | +407% |
| Financial debts | 43 | €468,141 | - | -€468,141 | |
| Credit institutions | 430/8 | €468,141 | - | -€468,141 | |
| Trade debts | 44 | €434,523 | €1,040,168 | +€605,645 | +139% |
| Suppliers | 440/4 | €434,523 | €1,040,168 | +€605,645 | +139% |
| Taxes, remuneration and social security | 45 | €385,725 | €358,713 | -€27,012 | -7.0% |
| Taxes | 450/3 | €114,513 | €126,970 | +€12,457 | +10.9% |
| Remuneration and social security | 454/9 | €271,212 | €231,743 | -€39,469 | -14.6% |
| Other amounts payable | 47/48 | €796,974 | €1,676,146 | +€879,172 | +110% |
| Accrued charges and deferred income | 492/3 | - | €4,866 | +€4,866 | |
| Operating income | 70/76A | €7,752,602 | €6,946,299 | -€806,303 | -10.4% |
| Turnover | 70 | €7,753,242 | €6,853,920 | -€899,322 | -11.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€8,318 | -€69,480 | -€61,162 | -735% |
| Other operating income | 74 | €5,476 | €159,668 | +€154,192 | +2,816% |
| Non-recurring operating income | 76A | €2,202 | €2,191 | -€11 | -0.5% |
| Operating charges | 60/66A | €7,448,751 | €7,506,328 | +€57,577 | +0.8% |
| Goods for resale, raw materials and consumables | 60 | €2,301,351 | €1,926,859 | -€374,492 | -16.3% |
| Purchases | 600/8 | €2,178,536 | €1,958,144 | -€220,392 | -10.1% |
| Change in stocks: decrease (increase) | 609 | €122,815 | -€31,285 | -€154,100 | |
| Services and other goods | 61 | €2,241,247 | €2,581,250 | +€340,003 | +15.2% |
| Remuneration, social security and pensions | 62 | €2,535,978 | €2,597,630 | +€61,652 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €353,180 | €299,472 | -€53,708 | -15.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €9,202 | €23,638 | +€14,436 | +157% |
| Other operating charges | 640/8 | €7,793 | €76,699 | +€68,906 | +884% |
| Non-recurring operating charges | 66A | - | €780 | +€780 | |
| Operating profit (loss) | 9901 | €303,851 | -€560,029 | -€863,880 | |
| Financial income | 75/76B | €55,176 | €52,487 | -€2,689 | -4.9% |
| Recurring financial income | 75 | €55,176 | €52,487 | -€2,689 | -4.9% |
| Other financial income | 752/9 | €55,176 | €52,487 | -€2,689 | -4.9% |
| Financial charges | 65/66B | €73,970 | €56,692 | -€17,278 | -23.4% |
| Recurring financial charges | 65 | €73,970 | €56,692 | -€17,278 | -23.4% |
| Debt charges | 650 | €35,259 | €56,692 | +€21,433 | +60.8% |
| Other financial charges | 652/9 | €38,711 | - | -€38,711 | |
| Profit (loss) for the period before taxes | 9903 | €285,057 | -€564,234 | -€849,291 | |
| Income taxes | 67/77 | €157 | €385 | +€228 | +145% |
| Taxes | 670/3 | €551 | €428 | -€123 | -22.3% |
| Tax adjustments and reversals of tax provisions | 77 | €394 | €43 | -€351 | -89.1% |
| Profit (loss) for the period | 9904 | €284,900 | -€564,619 | -€849,519 | |
| Transfer from tax-exempt reserves | 789 | €23,926 | - | -€23,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €308,826 | -€564,619 | -€873,445 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 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.