GOUDEN SCHAAR: 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.
GOUDEN SCHAAR
Largest movements
- Current investments +€425,000
up €425,000 (+213%), from €200,000 to €625,000
- Cash -€340,905
down €340,905 (-64.7%), from €526,729 to €185,824
mainly Current investments (-€425,000) and Contributions, distributions and other (-€171,289)
- Intangible fixed assets -€39,732
down €39,732 (-12.6%), from €316,331 to €276,599
- Tangible fixed assets -€34,300
down €34,300 (-10.4%), from €329,707 to €295,407
of which Land and buildings: -€17,341
- Other debts +€100,675
up €100,675 (+39.1%), from €257,562 to €358,237
- Reserves -€78,621
down €78,621 (-6.6%), from €1.2m to €1.1m
of which Distributable reserves: -€78,621
- Tax, wage and social debts +€24,127
up €24,127 (+86.5%), from €27,894 to €52,020
of which Taxes: +€20,477
- Accrued charges and deferred income -€17,831
down €17,831 (-95.1%), from €18,746 to €915
- Depreciation +€12,653
up €12,653 (+16.0%), from €79,098 to €91,751
- Financial income -€7,510
down €7,510 (-43.3%), from €17,342 to €9,832
- Taxes -€7,199
down €7,199 (-15.4%), from €46,665 to €39,466
- Gross operating margin +€6,637
up €6,637 (+1.7%), from €399,485 to €406,122
- Staff costs +€5,936
up €5,936 (+4.0%), from €148,856 to €154,792
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,573,304 | €1,575,553 | +€2,249 | +0.1% |
| Fixed assets | 21/28 | €646,038 | €572,006 | -€74,032 | -11.5% |
| Intangible fixed assets | 21 | €316,331 | €276,599 | -€39,732 | -12.6% |
| Tangible fixed assets | 22/27 | €329,707 | €295,407 | -€34,300 | -10.4% |
| Land and buildings | 22 | €280,897 | €263,556 | -€17,341 | -6.2% |
| Plant, machinery and equipment | 23 | €6,511 | €5,405 | -€1,105 | -17.0% |
| Furniture and vehicles | 24 | €42,300 | €26,446 | -€15,854 | -37.5% |
| Current assets | 29/58 | €927,266 | €1,003,547 | +€76,281 | +8.2% |
| Stocks and contracts in progress | 3 | €166,605 | €164,113 | -€2,492 | -1.5% |
| Stocks | 30/36 | €166,605 | €164,113 | -€2,492 | -1.5% |
| Amounts receivable within one year | 40/41 | €15,275 | €8,715 | -€6,561 | -43.0% |
| Trade receivables | 40 | €3,740 | €8,715 | +€4,974 | +133% |
| Other amounts receivable | 41 | €11,535 | - | -€11,535 | |
| Current investments | 50/53 | €200,000 | €625,000 | +€425,000 | +213% |
| Cash at bank and in hand | 54/58 | €526,729 | €185,824 | -€340,905 | -64.7% |
| Deferred charges and accrued income | 490/1 | €18,657 | €19,896 | +€1,239 | +6.6% |
| Total equity and liabilities | 10/49 | €1,573,304 | €1,575,553 | +€2,249 | +0.1% |
| Equity | 10/15 | €1,205,783 | €1,127,162 | -€78,621 | -6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,185,846 | €1,107,225 | -€78,621 | -6.6% |
| Tax-exempt reserves | 132 | €29,529 | €29,529 | = | 0.0% |
| Distributable reserves | 133 | €1,156,317 | €1,077,696 | -€78,621 | -6.8% |
| Profit (loss) carried forward | 14 | €1,336 | €1,336 | = | 0.0% |
| Amounts payable | 17/49 | €367,521 | €448,391 | +€80,870 | +22.0% |
| Amounts payable after more than one year | 17 | €21,204 | €10,650 | -€10,554 | -49.8% |
| Financial debts | 170/4 | €21,204 | €10,650 | -€10,554 | -49.8% |
| Amounts payable within one year | 42/48 | €327,572 | €436,827 | +€109,255 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | €14,317 | €10,554 | -€3,762 | -26.3% |
| Trade debts | 44 | €27,800 | €16,016 | -€11,784 | -42.4% |
| Suppliers | 440/4 | €27,800 | €16,016 | -€11,784 | -42.4% |
| Taxes, remuneration and social security | 45 | €27,894 | €52,020 | +€24,127 | +86.5% |
| Taxes | 450/3 | €21,229 | €41,706 | +€20,477 | +96.5% |
| Remuneration and social security | 454/9 | €6,664 | €10,314 | +€3,650 | +54.8% |
| Other amounts payable | 47/48 | €257,562 | €358,237 | +€100,675 | +39.1% |
| Accrued charges and deferred income | 492/3 | €18,746 | €915 | -€17,831 | -95.1% |
| Remuneration, social security and pensions | 62 | €148,856 | €154,792 | +€5,936 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,098 | €91,751 | +€12,653 | +16.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €363 | +€363 | |
| Other operating charges | 640/8 | €13,595 | €14,484 | +€889 | +6.5% |
| Gross operating margin | 9900 | €399,485 | €406,122 | +€6,637 | +1.7% |
| Operating profit (loss) | 9901 | €157,937 | €144,733 | -€13,205 | -8.4% |
| Financial income | 75/76B | €17,342 | €9,832 | -€7,510 | -43.3% |
| Recurring financial income | 75 | €17,342 | €9,832 | -€7,510 | -43.3% |
| Financial charges | 65/66B | €21,412 | €22,430 | +€1,018 | +4.8% |
| Recurring financial charges | 65 | €21,412 | €22,430 | +€1,018 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €153,867 | €132,134 | -€21,732 | -14.1% |
| Income taxes | 67/77 | €46,665 | €39,466 | -€7,199 | -15.4% |
| Profit (loss) for the period | 9904 | €107,202 | €92,668 | -€14,534 | -13.6% |
| Transfer from tax-exempt reserves | 789 | €63,150 | - | -€63,150 | |
| Transfer to tax-exempt reserves | 689 | €12,630 | - | -€12,630 | |
| Profit (loss) for the period to be appropriated | 9905 | €157,722 | €92,668 | -€65,054 | -41.2% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.