Govabel: 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.
Govabel
Largest movements
- Cash +€15,217
up €15,217 (+60.8%), from €25,013 to €40,230
mainly Net result for the year (+€63,437) and Depreciation (+€8,323)
- Tangible fixed assets -€8,323
down €8,323 (-11.1%), from €74,903 to €66,581
- Receivables within one year +€2,501
up €2,501 (+95.3%), from €2,625 to €5,126
of which Other amounts receivable: +€5,126
- Profit (loss) carried forward +€63,437
up €63,437 (+27.9%), from -€227,578 to -€164,141
- Debts after one year -€47,503
down €47,503 (-16.0%), from €296,319 to €248,816
- Accrued charges and deferred income -€3,401
down €3,401 (-91.5%), from €3,717 to €316
- Trade debts -€3,137
down €3,137 (-94.6%), from €3,315 to €178
- Gross operating margin +€83,094
up €83,094 (+1006.7%), from €8,254 to €91,348
- Taxes +€16,148
new in 2025: €16,148
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 | €103,041 | €112,437 | +€9,396 | +9.1% |
| Fixed assets | 21/28 | €75,403 | €67,081 | -€8,323 | -11.0% |
| Tangible fixed assets | 22/27 | €74,903 | €66,581 | -€8,323 | -11.1% |
| Land and buildings | 22 | €74,903 | €66,581 | -€8,323 | -11.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €27,638 | €45,356 | +€17,718 | +64.1% |
| Amounts receivable within one year | 40/41 | €2,625 | €5,126 | +€2,501 | +95.3% |
| Trade receivables | 40 | €2,625 | - | -€2,625 | |
| Other amounts receivable | 41 | - | €5,126 | +€5,126 | |
| Cash at bank and in hand | 54/58 | €25,013 | €40,230 | +€15,217 | +60.8% |
| Total equity and liabilities | 10/49 | €103,041 | €112,437 | +€9,396 | +9.1% |
| Equity | 10/15 | -€200,310 | -€136,873 | +€63,437 | +31.7% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €2,479 | €2,479 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€227,578 | -€164,141 | +€63,437 | +27.9% |
| Amounts payable | 17/49 | €303,351 | €249,310 | -€54,042 | -17.8% |
| Amounts payable after more than one year | 17 | €296,319 | €248,816 | -€47,503 | -16.0% |
| Financial debts | 170/4 | €296,319 | €248,816 | -€47,503 | -16.0% |
| Amounts payable within one year | 42/48 | €3,315 | €178 | -€3,137 | -94.6% |
| Trade debts | 44 | €3,315 | €178 | -€3,137 | -94.6% |
| Suppliers | 440/4 | €3,315 | €178 | -€3,137 | -94.6% |
| Accrued charges and deferred income | 492/3 | €3,717 | €316 | -€3,401 | -91.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,323 | €8,323 | = | 0.0% |
| Other operating charges | 640/8 | €2,867 | €2,955 | +€88 | +3.1% |
| Gross operating margin | 9900 | €8,254 | €91,348 | +€83,094 | +1006.7% |
| Operating profit (loss) | 9901 | -€2,936 | €80,070 | +€83,006 | |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €443 | €493 | +€50 | +11.3% |
| Recurring financial charges | 65 | €443 | €493 | +€50 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,378 | €79,586 | +€82,964 | |
| Income taxes | 67/77 | - | €16,148 | +€16,148 | |
| Profit (loss) for the period | 9904 | -€3,378 | €63,437 | +€66,816 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,378 | €63,437 | +€66,816 |
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 7 October 2026 via checked.be.