Govaert Consultancy: 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.
Govaert Consultancy
Largest movements
- Cash +€61,628
up €61,628 (+169%), from €36,572 to €98,200
mainly Net result for the year (+€83,430) and Depreciation (+€1,376)
- Receivables within one year +€20,784
up €20,784 (+144%), from €14,399 to €35,183
of which Trade receivables: +€20,609
- Reserves +€83,430
up €83,430 (+188%), from €44,455 to €127,884
- Other debts -€2,480
down €2,480 (-92.0%), from €2,695 to €215
- Gross operating margin +€50,395
up €50,395 (+86.6%), from €58,166 to €108,561
- Taxes +€10,142
up €10,142 (+86.8%), from €11,682 to €21,825
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 | €57,659 | €137,675 | +€80,017 | +139% |
| Fixed assets | 21/28 | €4,351 | €2,975 | -€1,376 | -31.6% |
| Tangible fixed assets | 22/27 | €4,351 | €2,975 | -€1,376 | -31.6% |
| Plant, machinery and equipment | 23 | €1,938 | €1,098 | -€840 | -43.3% |
| Furniture and vehicles | 24 | €2,413 | €1,877 | -€536 | -22.2% |
| Current assets | 29/58 | €53,308 | €134,701 | +€81,393 | +153% |
| Amounts receivable within one year | 40/41 | €14,399 | €35,183 | +€20,784 | +144% |
| Trade receivables | 40 | €14,399 | €35,008 | +€20,609 | +143% |
| Other amounts receivable | 41 | - | €175 | +€175 | |
| Cash at bank and in hand | 54/58 | €36,572 | €98,200 | +€61,628 | +169% |
| Deferred charges and accrued income | 490/1 | €2,337 | €1,318 | -€1,019 | -43.6% |
| Total equity and liabilities | 10/49 | €57,659 | €137,675 | +€80,017 | +139% |
| Equity | 10/15 | €44,555 | €127,984 | +€83,430 | +187% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €44,455 | €127,884 | +€83,430 | +188% |
| Distributable reserves | 133 | €44,455 | €127,884 | +€83,430 | +188% |
| Amounts payable | 17/49 | €13,104 | €9,691 | -€3,413 | -26.0% |
| Amounts payable within one year | 42/48 | €13,104 | €9,691 | -€3,413 | -26.0% |
| Trade debts | 44 | €1,098 | €818 | -€281 | -25.6% |
| Suppliers | 440/4 | €1,098 | €818 | -€281 | -25.6% |
| Taxes, remuneration and social security | 45 | €9,311 | €8,659 | -€652 | -7.0% |
| Taxes | 450/3 | €9,311 | €8,659 | -€652 | -7.0% |
| Other amounts payable | 47/48 | €2,695 | €215 | -€2,480 | -92.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €850 | €1,376 | +€526 | +61.9% |
| Other operating charges | 640/8 | - | €42 | +€42 | |
| Gross operating margin | 9900 | €58,166 | €108,561 | +€50,395 | +86.6% |
| Operating profit (loss) | 9901 | €57,316 | €107,143 | +€49,827 | +86.9% |
| Financial charges | 65/66B | €1,179 | €1,888 | +€710 | +60.2% |
| Recurring financial charges | 65 | €1,179 | €1,888 | +€710 | +60.2% |
| Profit (loss) for the period before taxes | 9903 | €56,137 | €105,254 | +€49,117 | +87.5% |
| Income taxes | 67/77 | €11,682 | €21,825 | +€10,142 | +86.8% |
| Profit (loss) for the period | 9904 | €44,455 | €83,430 | +€38,975 | +87.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,455 | €83,430 | +€38,975 | +87.7% |
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 21 October 2026 via checked.be.