Gouverno: 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.
Gouverno
Largest movements
- Receivables within one year +€58,486
up €58,486 (+56.5%), from €103,467 to €161,952
of which Other amounts receivable: +€43,001
- Cash +€47,901
up €47,901 (+16.4%), from €292,571 to €340,472
mainly Net result for the year (+€110,158) and Depreciation (+€5,483)
- Reserves +€99,758
up €99,758 (+31.2%), from €320,084 to €419,842
of which Distributable reserves: +€99,758
- Gross operating margin +€39,576
up €39,576 (+34.1%), from €115,921 to €155,498
- Taxes +€13,285
up €13,285 (+38.6%), from €34,400 to €47,684
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 | €412,670 | €514,273 | +€101,603 | +24.6% |
| Fixed assets | 21/28 | €10,126 | €5,622 | -€4,504 | -44.5% |
| Tangible fixed assets | 22/27 | €10,126 | €5,622 | -€4,504 | -44.5% |
| Plant, machinery and equipment | 23 | €792 | €1,517 | +€724 | +91.5% |
| Furniture and vehicles | 24 | €9,334 | €4,106 | -€5,228 | -56.0% |
| Current assets | 29/58 | €402,544 | €508,651 | +€106,107 | +26.4% |
| Amounts receivable within one year | 40/41 | €103,467 | €161,952 | +€58,486 | +56.5% |
| Trade receivables | 40 | €34,011 | €49,495 | +€15,485 | +45.5% |
| Other amounts receivable | 41 | €69,456 | €112,457 | +€43,001 | +61.9% |
| Cash at bank and in hand | 54/58 | €292,571 | €340,472 | +€47,901 | +16.4% |
| Deferred charges and accrued income | 490/1 | €6,506 | €6,226 | -€280 | -4.3% |
| Total equity and liabilities | 10/49 | €412,670 | €514,273 | +€101,603 | +24.6% |
| Equity | 10/15 | €338,684 | €438,442 | +€99,758 | +29.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €320,084 | €419,842 | +€99,758 | +31.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €320,084 | €419,842 | +€99,758 | +31.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €73,985 | €75,831 | +€1,845 | +2.5% |
| Amounts payable within one year | 42/48 | €73,985 | €75,831 | +€1,845 | +2.5% |
| Trade debts | 44 | €49,557 | €50,655 | +€1,098 | +2.2% |
| Suppliers | 440/4 | €49,557 | €50,655 | +€1,098 | +2.2% |
| Taxes, remuneration and social security | 45 | €23,629 | €24,013 | +€384 | +1.6% |
| Taxes | 450/3 | €23,629 | €24,013 | +€384 | +1.6% |
| Other amounts payable | 47/48 | €800 | €1,163 | +€363 | +45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,581 | €5,483 | -€98 | -1.8% |
| Other operating charges | 640/8 | €1,798 | €1,394 | -€404 | -22.5% |
| Gross operating margin | 9900 | €115,921 | €155,498 | +€39,576 | +34.1% |
| Operating profit (loss) | 9901 | €108,543 | €148,621 | +€40,078 | +36.9% |
| Financial income | 75/76B | €8,274 | €9,460 | +€1,187 | +14.3% |
| Recurring financial income | 75 | €8,274 | €9,460 | +€1,187 | +14.3% |
| Financial charges | 65/66B | €124 | €239 | +€115 | +92.6% |
| Recurring financial charges | 65 | €124 | €239 | +€115 | +92.6% |
| Profit (loss) for the period before taxes | 9903 | €116,693 | €157,842 | +€41,150 | +35.3% |
| Income taxes | 67/77 | €34,400 | €47,684 | +€13,285 | +38.6% |
| Profit (loss) for the period | 9904 | €82,293 | €110,158 | +€27,865 | +33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €82,293 | €110,158 | +€27,865 | +33.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.