Golf Premium Development: 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.
Golf Premium Development
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Cash -€151,356
down €151,356 (-62.4%), from €242,518 to €91,162
mainly Current investments (-€200,000) and Contributions, distributions and other (-€45,463)
- Receivables within one year +€15,919
up €15,919 (+102.4%), from €15,552 to €31,471
of which Trade receivables: +€26,722
- Other debts +€26,627
up €26,627 (+86.1%), from €30,918 to €57,545
- Reserves +€22,401
up €22,401 (+9.6%), from €233,532 to €255,933
- Tax, wage and social debts +€6,717
up €6,717 (+112.4%), from €5,975 to €12,692
of which Remuneration and social security: +€4,197
- Trade debts +€5,372
up €5,372 (+86.5%), from €6,208 to €11,580
- Gross operating margin +€13,170
up €13,170 (+29.2%), from €45,044 to €58,214
- Staff costs +€12,039
new in 2025: €12,039
- Financial income +€9,007
up €9,007 (+27.2%), from €33,062 to €42,068
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.
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 | €351,632 | €412,750 | +€61,118 | +17.4% |
| Fixed assets | 21/28 | €91,167 | €87,346 | -€3,821 | -4.2% |
| Tangible fixed assets | 22/27 | €13,814 | €9,993 | -€3,821 | -27.7% |
| Furniture and vehicles | 24 | €13,814 | €9,993 | -€3,821 | -27.7% |
| Financial fixed assets | 28 | €77,353 | €77,353 | = | 0.0% |
| Current assets | 29/58 | €260,466 | €325,404 | +€64,938 | +24.9% |
| Amounts receivable within one year | 40/41 | €15,552 | €31,471 | +€15,919 | +102.4% |
| Trade receivables | 40 | €4,749 | €31,471 | +€26,722 | +562.7% |
| Other amounts receivable | 41 | €10,803 | - | -€10,803 | |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €242,518 | €91,162 | -€151,356 | -62.4% |
| Deferred charges and accrued income | 490/1 | €2,396 | €2,771 | +€375 | +15.7% |
| Total equity and liabilities | 10/49 | €351,632 | €412,750 | +€61,118 | +17.4% |
| Equity | 10/15 | €308,532 | €330,933 | +€22,401 | +7.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Outside capital | 11 | €75,000 | €75,000 | = | 0.0% |
| Other | 1109/19 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €233,532 | €255,933 | +€22,401 | +9.6% |
| Distributable reserves | 133 | €233,532 | €255,933 | +€22,401 | +9.6% |
| Amounts payable | 17/49 | €43,100 | €81,817 | +€38,717 | +89.8% |
| Amounts payable within one year | 42/48 | €43,100 | €81,817 | +€38,717 | +89.8% |
| Trade debts | 44 | €6,208 | €11,580 | +€5,372 | +86.5% |
| Suppliers | 440/4 | €6,208 | €11,580 | +€5,372 | +86.5% |
| Taxes, remuneration and social security | 45 | €5,975 | €12,692 | +€6,717 | +112.4% |
| Taxes | 450/3 | €5,975 | €8,495 | +€2,520 | +42.2% |
| Remuneration and social security | 454/9 | - | €4,197 | +€4,197 | |
| Other amounts payable | 47/48 | €30,918 | €57,545 | +€26,627 | +86.1% |
| Remuneration, social security and pensions | 62 | - | €12,039 | +€12,039 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,329 | €7,722 | +€393 | +5.4% |
| Other operating charges | 640/8 | €488 | €503 | +€14 | +2.9% |
| Gross operating margin | 9900 | €45,044 | €58,214 | +€13,170 | +29.2% |
| Operating profit (loss) | 9901 | €37,227 | €37,951 | +€724 | +1.9% |
| Financial income | 75/76B | €33,062 | €42,068 | +€9,007 | +27.2% |
| Recurring financial income | 75 | €33,062 | €42,068 | +€9,007 | +27.2% |
| Financial charges | 65/66B | €45 | €55 | +€10 | +22.1% |
| Recurring financial charges | 65 | €45 | €55 | +€10 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €70,244 | €79,964 | +€9,720 | +13.8% |
| Income taxes | 67/77 | €11,994 | €12,100 | +€106 | +0.9% |
| Profit (loss) for the period | 9904 | €58,250 | €67,864 | +€9,614 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,250 | €67,864 | +€9,614 | +16.5% |
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 30 September 2026 via checked.be.