GOLFBUTLER: 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.
GOLFBUTLER
Largest movements
- Cash -€169,268
down €169,268 (-33.4%), from €507,501 to €338,233
mainly Trade debts (-€250,263) and Tax, wage and social debts (-€2,535)
- Stocks and contracts -€21,461
down €21,461 (-5.7%), from €377,442 to €355,981
- Trade debts -€250,263
down €250,263 (-64.1%), from €390,644 to €140,381
- Reserves +€47,000
up €47,000 (+9.0%), from €520,853 to €567,853
of which Distributable reserves: +€47,000
- Depreciation +€4,767
up €4,767 (+102.4%), from €4,657 to €9,424
- Financial income +€3,213
up €3,213 (+53.1%), from €6,050 to €9,263
- Staff costs +€2,721
up €2,721 (+4.1%), from €66,599 to €69,320
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 | €1,076,788 | €873,181 | -€203,607 | -18.9% |
| Fixed assets | 21/28 | €41,263 | €31,839 | -€9,424 | -22.8% |
| Tangible fixed assets | 22/27 | €39,928 | €30,504 | -€9,424 | -23.6% |
| Furniture and vehicles | 24 | €37,596 | €28,978 | -€8,617 | -22.9% |
| Other tangible fixed assets | 26 | €2,333 | €1,526 | -€807 | -34.6% |
| Financial fixed assets | 28 | €1,335 | €1,335 | = | 0.0% |
| Current assets | 29/58 | €1,035,525 | €841,342 | -€194,183 | -18.8% |
| Stocks and contracts in progress | 3 | €377,442 | €355,981 | -€21,461 | -5.7% |
| Stocks | 30/36 | €377,442 | €355,981 | -€21,461 | -5.7% |
| Amounts receivable within one year | 40/41 | €150,582 | €147,128 | -€3,454 | -2.3% |
| Trade receivables | 40 | €132,781 | €130,637 | -€2,144 | -1.6% |
| Other amounts receivable | 41 | €17,801 | €16,491 | -€1,310 | -7.4% |
| Cash at bank and in hand | 54/58 | €507,501 | €338,233 | -€169,268 | -33.4% |
| Total equity and liabilities | 10/49 | €1,076,788 | €873,181 | -€203,607 | -18.9% |
| Equity | 10/15 | €539,644 | €586,461 | +€46,818 | +8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €520,853 | €567,853 | +€47,000 | +9.0% |
| Tax-exempt reserves | 132 | €44,993 | €44,993 | = | 0.0% |
| Distributable reserves | 133 | €475,860 | €522,860 | +€47,000 | +9.9% |
| Profit (loss) carried forward | 14 | €191 | €8 | -€182 | -95.6% |
| Amounts payable | 17/49 | €537,145 | €286,720 | -€250,425 | -46.6% |
| Amounts payable after more than one year | 17 | €77,650 | €77,650 | = | 0.0% |
| Financial debts | 170/4 | €77,650 | €77,650 | = | 0.0% |
| Amounts payable within one year | 42/48 | €459,495 | €209,070 | -€250,425 | -54.5% |
| Trade debts | 44 | €390,644 | €140,381 | -€250,263 | -64.1% |
| Suppliers | 440/4 | €390,644 | €140,381 | -€250,263 | -64.1% |
| Taxes, remuneration and social security | 45 | €14,540 | €12,005 | -€2,535 | -17.4% |
| Taxes | 450/3 | €5,310 | €2,317 | -€2,993 | -56.4% |
| Remuneration and social security | 454/9 | €9,230 | €9,687 | +€457 | +5.0% |
| Other amounts payable | 47/48 | €54,311 | €56,684 | +€2,373 | +4.4% |
| Remuneration, social security and pensions | 62 | €66,599 | €69,320 | +€2,721 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,657 | €9,424 | +€4,767 | +102.4% |
| Other operating charges | 640/8 | €1,512 | €1,581 | +€69 | +4.6% |
| Gross operating margin | 9900 | €139,827 | €139,499 | -€328 | -0.2% |
| Operating profit (loss) | 9901 | €67,059 | €59,174 | -€7,885 | -11.8% |
| Financial income | 75/76B | €6,050 | €9,263 | +€3,213 | +53.1% |
| Recurring financial income | 75 | €6,050 | €9,263 | +€3,213 | +53.1% |
| Financial charges | 65/66B | €6,449 | €5,816 | -€632 | -9.8% |
| Recurring financial charges | 65 | €6,449 | €5,816 | -€632 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €66,661 | €62,621 | -€4,040 | -6.1% |
| Income taxes | 67/77 | €16,081 | €15,803 | -€278 | -1.7% |
| Profit (loss) for the period | 9904 | €50,580 | €46,818 | -€3,762 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €50,580 | €46,818 | -€3,762 | -7.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.