Golturo: 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.
Golturo
Largest movements
- Current investments +€241,902
up €241,902 (+88.8%), from €272,305 to €514,207
- Stocks and contracts -€94,175
down €94,175 (-100%), from €94,175 to €0
- Tangible fixed assets -€21,560
down €21,560 (-40.7%), from €52,946 to €31,386
of which Plant, machinery and equipment: -€17,737
- Receivables within one year -€16,097
down €16,097 (-3.2%), from €503,509 to €487,412
of which Other amounts receivable: -€25,305
- Reserves +€133,389
up €133,389 (+11.2%), from €1.2m to €1.3m
of which Distributable reserves: +€133,389
- Staff costs -€68,122
down €68,122 (-97.3%), from €70,010 to €1,887
- Financial income -€23,391
down €23,391 (-62.6%), from €37,340 to €13,949
- Taxes +€12,159
up €12,159 (+47.8%), from €25,413 to €37,572
- Depreciation -€8,994
down €8,994 (-25.1%), from €35,849 to €26,855
- Gross operating margin +€8,176
up €8,176 (+4.4%), from €187,851 to €196,027
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.
Derived cash bridge
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 | €1,467,247 | €1,600,332 | +€133,084 | +9.1% |
| Fixed assets | 21/28 | €53,817 | €32,257 | -€21,560 | -40.1% |
| Tangible fixed assets | 22/27 | €52,946 | €31,386 | -€21,560 | -40.7% |
| Plant, machinery and equipment | 23 | €39,049 | €21,312 | -€17,737 | -45.4% |
| Furniture and vehicles | 24 | €13,897 | €10,074 | -€3,823 | -27.5% |
| Financial fixed assets | 28 | €871 | €871 | = | 0.0% |
| Current assets | 29/58 | €1,413,431 | €1,568,075 | +€154,644 | +10.9% |
| Stocks and contracts in progress | 3 | €94,175 | €0 | -€94,175 | -100% |
| Stocks | 30/36 | €94,175 | €0 | -€94,175 | -100% |
| Amounts receivable within one year | 40/41 | €503,509 | €487,412 | -€16,097 | -3.2% |
| Trade receivables | 40 | - | €9,207 | +€9,207 | |
| Other amounts receivable | 41 | €503,509 | €478,204 | -€25,305 | -5.0% |
| Current investments | 50/53 | €272,305 | €514,207 | +€241,902 | +88.8% |
| Cash at bank and in hand | 54/58 | €519,873 | €530,169 | +€10,296 | +2.0% |
| Deferred charges and accrued income | 490/1 | €23,569 | €36,287 | +€12,718 | +54.0% |
| Total equity and liabilities | 10/49 | €1,467,247 | €1,600,332 | +€133,084 | +9.1% |
| Equity | 10/15 | €1,449,678 | €1,583,067 | +€133,389 | +9.2% |
| Contributions | 10/11 | €261,375 | €261,375 | = | 0.0% |
| Capital | 10 | €261,375 | €261,375 | = | 0.0% |
| Issued capital | 100 | €261,375 | €261,375 | = | 0.0% |
| Reserves | 13 | €1,188,303 | €1,321,692 | +€133,389 | +11.2% |
| Non-distributable reserves | 130/1 | €26,138 | €26,138 | = | 0.0% |
| Legal reserve | 130 | €26,138 | €26,138 | = | 0.0% |
| Tax-exempt reserves | 132 | €52,675 | €52,675 | = | 0.0% |
| Distributable reserves | 133 | €1,109,491 | €1,242,880 | +€133,389 | +12.0% |
| Amounts payable | 17/49 | €17,569 | €17,264 | -€305 | -1.7% |
| Amounts payable within one year | 42/48 | €17,569 | €17,264 | -€305 | -1.7% |
| Trade debts | 44 | €5,435 | €4,101 | -€1,335 | -24.6% |
| Suppliers | 440/4 | €5,435 | €4,101 | -€1,335 | -24.6% |
| Taxes, remuneration and social security | 45 | €12,134 | €13,094 | +€960 | +7.9% |
| Taxes | 450/3 | €12,134 | €12,134 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €960 | +€960 | |
| Other amounts payable | 47/48 | €0 | €70 | +€70 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €70,010 | €1,887 | -€68,122 | -97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,849 | €26,855 | -€8,994 | -25.1% |
| Other operating charges | 640/8 | €1,366 | €7,379 | +€6,013 | +440% |
| Non-recurring operating charges | 66A | €1,461 | €0 | -€1,461 | -100% |
| Gross operating margin | 9900 | €187,851 | €196,027 | +€8,176 | +4.4% |
| Operating profit (loss) | 9901 | €79,165 | €159,905 | +€80,740 | +102% |
| Financial income | 75/76B | €37,340 | €13,949 | -€23,391 | -62.6% |
| Recurring financial income | 75 | €37,340 | €13,949 | -€23,391 | -62.6% |
| Financial charges | 65/66B | €614 | €2,893 | +€2,280 | +371% |
| Recurring financial charges | 65 | €614 | €2,893 | +€2,280 | +371% |
| Profit (loss) for the period before taxes | 9903 | €115,892 | €170,960 | +€55,069 | +47.5% |
| Income taxes | 67/77 | €25,413 | €37,572 | +€12,159 | +47.8% |
| Profit (loss) for the period | 9904 | €90,479 | €133,389 | +€42,910 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €90,479 | €133,389 | +€42,910 | +47.4% |
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 14 October 2026 via checked.be.