GOLOVAN: 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.
GOLOVAN
Largest movements
- Stocks and contracts -€93,803
down €93,803 (-6.9%), from €1.4m to €1.3m
- Trade debts -€108,027
down €108,027 (-9.4%), from €1.1m to €1.0m
- Gross operating margin +€5,569
up €5,569 (+106.3%), from €5,240 to €10,809
- Other operating charges +€2,550
up €2,550 (+2161.1%), from €118 to €2,668
- Financial charges +€2,036
up €2,036 (+160.9%), from €1,266 to €3,301
- Taxes +€291
up €291 (+18.7%), from €1,559 to €1,851
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 | €1,390,925 | €1,296,670 | -€94,255 | -6.8% |
| Fixed assets | 21/28 | €977 | €475 | -€501 | -51.3% |
| Tangible fixed assets | 22/27 | €977 | €475 | -€501 | -51.3% |
| Furniture and vehicles | 24 | €977 | €475 | -€501 | -51.3% |
| Current assets | 29/58 | €1,389,948 | €1,296,195 | -€93,753 | -6.7% |
| Stocks and contracts in progress | 3 | €1,359,996 | €1,266,193 | -€93,803 | -6.9% |
| Stocks | 30/36 | €1,359,996 | €1,266,193 | -€93,803 | -6.9% |
| Amounts receivable within one year | 40/41 | €581 | €204 | -€377 | -64.8% |
| Other amounts receivable | 41 | €581 | €204 | -€377 | -64.8% |
| Cash at bank and in hand | 54/58 | €29,371 | €29,798 | +€427 | +1.5% |
| Total equity and liabilities | 10/49 | €1,390,925 | €1,296,670 | -€94,255 | -6.8% |
| Equity | 10/15 | €79,439 | €81,974 | +€2,535 | +3.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,988 | €61,523 | +€2,535 | +4.3% |
| Amounts payable | 17/49 | €1,311,486 | €1,214,696 | -€96,790 | -7.4% |
| Amounts payable within one year | 42/48 | €1,311,486 | €1,214,696 | -€96,790 | -7.4% |
| Trade debts | 44 | €1,145,149 | €1,037,122 | -€108,027 | -9.4% |
| Suppliers | 440/4 | €1,145,149 | €1,037,122 | -€108,027 | -9.4% |
| Taxes, remuneration and social security | 45 | €1,520 | €3,356 | +€1,836 | +120.8% |
| Taxes | 450/3 | €1,520 | €3,356 | +€1,836 | +120.8% |
| Other amounts payable | 47/48 | €164,817 | €174,217 | +€9,400 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €501 | €501 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €2,668 | +€2,550 | +2161.1% |
| Gross operating margin | 9900 | €5,240 | €10,809 | +€5,569 | +106.3% |
| Operating profit (loss) | 9901 | €4,621 | €7,640 | +€3,019 | +65.3% |
| Financial income | 75/76B | €126 | €47 | -€78 | -62.2% |
| Recurring financial income | 75 | €126 | €47 | -€78 | -62.2% |
| Financial charges | 65/66B | €1,266 | €3,301 | +€2,036 | +160.9% |
| Recurring financial charges | 65 | €1,266 | €3,301 | +€2,036 | +160.9% |
| Profit (loss) for the period before taxes | 9903 | €3,481 | €4,386 | +€905 | +26.0% |
| Income taxes | 67/77 | €1,559 | €1,851 | +€291 | +18.7% |
| Profit (loss) for the period | 9904 | €1,921 | €2,535 | +€614 | +32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,921 | €2,535 | +€614 | +32.0% |
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.