GOLFBAR: 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.
GOLFBAR
Largest movements
- Cash -€13,754
down €13,754 (-10.1%), from €135,558 to €121,804
mainly Investment in fixed assets (net) (-€18,872) and Stocks and contracts (-€8,345)
- Tangible fixed assets +€13,011
up €13,011 (+59.7%), from €21,792 to €34,804
of which Plant, machinery and equipment: +€16,429
- Stocks and contracts +€8,345
up €8,345 (+11.4%), from €73,454 to €81,799
- Receivables within one year -€6,446
down €6,446 (-33.9%), from €18,999 to €12,553
of which Trade receivables: -€7,522
- Other debts +€6,450
up €6,450 (+14.3%), from €45,095 to €51,545
- Profit (loss) carried forward -€4,655
down €4,655 (-2.9%), from €160,407 to €155,752
- Gross operating margin -€12,594
down €12,594 (-98.0%), from €12,853 to €259
- Taxes -€2,249
down €2,249 (-93.4%), from €2,408 to €159
- Depreciation +€1,837
up €1,837 (+45.6%), from €4,024 to €5,861
- Financial income +€878
up €878 (+84.1%), from €1,045 to €1,923
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 | €252,887 | €254,030 | +€1,144 | +0.5% |
| Fixed assets | 21/28 | €21,792 | €34,804 | +€13,011 | +59.7% |
| Tangible fixed assets | 22/27 | €21,792 | €34,804 | +€13,011 | +59.7% |
| Plant, machinery and equipment | 23 | €2,220 | €18,648 | +€16,429 | +740.2% |
| Furniture and vehicles | 24 | €624 | €285 | -€339 | -54.3% |
| Other tangible fixed assets | 26 | €18,949 | €15,871 | -€3,079 | -16.2% |
| Current assets | 29/58 | €231,094 | €219,227 | -€11,868 | -5.1% |
| Stocks and contracts in progress | 3 | €73,454 | €81,799 | +€8,345 | +11.4% |
| Stocks | 30/36 | €73,454 | €81,799 | +€8,345 | +11.4% |
| Amounts receivable within one year | 40/41 | €18,999 | €12,553 | -€6,446 | -33.9% |
| Trade receivables | 40 | €12,641 | €5,119 | -€7,522 | -59.5% |
| Other amounts receivable | 41 | €6,358 | €7,434 | +€1,076 | +16.9% |
| Cash at bank and in hand | 54/58 | €135,558 | €121,804 | -€13,754 | -10.1% |
| Deferred charges and accrued income | 490/1 | €3,084 | €3,071 | -€13 | -0.4% |
| Total equity and liabilities | 10/49 | €252,887 | €254,030 | +€1,144 | +0.5% |
| Equity | 10/15 | €193,872 | €187,234 | -€6,638 | -3.4% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €13,633 | €11,650 | -€1,983 | -14.5% |
| Distributable reserves | 133 | €13,633 | €11,650 | -€1,983 | -14.5% |
| Profit (loss) carried forward | 14 | €160,407 | €155,752 | -€4,655 | -2.9% |
| Amounts payable | 17/49 | €59,015 | €66,797 | +€7,782 | +13.2% |
| Amounts payable within one year | 42/48 | €59,015 | €66,797 | +€7,782 | +13.2% |
| Trade debts | 44 | €12,741 | €13,460 | +€719 | +5.6% |
| Suppliers | 440/4 | €12,741 | €13,460 | +€719 | +5.6% |
| Taxes, remuneration and social security | 45 | €1,179 | €1,792 | +€613 | +52.0% |
| Taxes | 450/3 | €1,179 | €1,792 | +€613 | +52.0% |
| Other amounts payable | 47/48 | €45,095 | €51,545 | +€6,450 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,024 | €5,861 | +€1,837 | +45.6% |
| Other operating charges | 640/8 | €540 | €627 | +€86 | +16.0% |
| Gross operating margin | 9900 | €12,853 | €259 | -€12,594 | -98.0% |
| Operating profit (loss) | 9901 | €8,288 | -€6,229 | -€14,517 | |
| Financial income | 75/76B | €1,045 | €1,923 | +€878 | +84.1% |
| Recurring financial income | 75 | €1,045 | €1,923 | +€878 | +84.1% |
| Financial charges | 65/66B | €2,122 | €2,173 | +€52 | +2.4% |
| Recurring financial charges | 65 | €2,122 | €2,173 | +€52 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €7,211 | -€6,480 | -€13,691 | |
| Income taxes | 67/77 | €2,408 | €159 | -€2,249 | -93.4% |
| Profit (loss) for the period | 9904 | €4,803 | -€6,638 | -€11,442 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,803 | -€6,638 | -€11,442 |
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 3 October 2026 via checked.be.