GOVAL: 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.
GOVAL
Largest movements
- Receivables within one year +€16,949
up €16,949 (+21.7%), from €78,179 to €95,128
- Reserves +€27,710
up €27,710 (+1490.4%), from €1,859 to €29,569
- Other debts -€10,000
no longer reported in 2025 (was €10,000)
- Tax, wage and social debts -€1,348
down €1,348 (-3.1%), from €43,141 to €41,793
- Gross operating margin +€3,642
up €3,642 (+9.3%), from €39,184 to €42,826
- Taxes +€2,915
up €2,915 (+20.0%), from €14,565 to €17,480
- Other operating charges -€788
down €788 (-54.3%), from €1,449 to €662
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 | €80,209 | €96,675 | +€16,467 | +20.5% |
| Fixed assets | 21/28 | €2,029 | €1,226 | -€802 | -39.5% |
| Tangible fixed assets | 22/27 | €2,029 | €1,226 | -€802 | -39.5% |
| Furniture and vehicles | 24 | €2,029 | €1,226 | -€802 | -39.5% |
| Current assets | 29/58 | €78,180 | €95,449 | +€17,269 | +22.1% |
| Amounts receivable within one year | 40/41 | €78,179 | €95,128 | +€16,949 | +21.7% |
| Other amounts receivable | 41 | €78,179 | €95,128 | +€16,949 | +21.7% |
| Cash at bank and in hand | 54/58 | €1 | €321 | +€320 | +30209.4% |
| Total equity and liabilities | 10/49 | €80,209 | €96,675 | +€16,467 | +20.5% |
| Equity | 10/15 | €24,531 | €52,241 | +€27,710 | +113.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €29,569 | +€27,710 | +1490.4% |
| Distributable reserves | 133 | €1,859 | €29,569 | +€27,710 | +1490.4% |
| Profit (loss) carried forward | 14 | €16,475 | €16,475 | = | 0.0% |
| Amounts payable | 17/49 | €55,677 | €44,434 | -€11,243 | -20.2% |
| Amounts payable within one year | 42/48 | €55,677 | €44,035 | -€11,643 | -20.9% |
| Trade debts | 44 | €2,536 | €2,241 | -€295 | -11.6% |
| Suppliers | 440/4 | €2,536 | €2,241 | -€295 | -11.6% |
| Taxes, remuneration and social security | 45 | €43,141 | €41,793 | -€1,348 | -3.1% |
| Taxes | 450/3 | €43,141 | €41,793 | -€1,348 | -3.1% |
| Other amounts payable | 47/48 | €10,000 | - | -€10,000 | |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €802 | €802 | = | 0.0% |
| Other operating charges | 640/8 | €1,449 | €662 | -€788 | -54.3% |
| Gross operating margin | 9900 | €39,184 | €42,826 | +€3,642 | +9.3% |
| Operating profit (loss) | 9901 | €36,932 | €41,362 | +€4,430 | +12.0% |
| Financial income | 75/76B | €4,708 | €4,696 | -€13 | -0.3% |
| Recurring financial income | 75 | €4,708 | €4,696 | -€13 | -0.3% |
| Financial charges | 65/66B | €600 | €867 | +€267 | +44.5% |
| Recurring financial charges | 65 | €600 | €867 | +€267 | +44.5% |
| Profit (loss) for the period before taxes | 9903 | €41,040 | €45,190 | +€4,150 | +10.1% |
| Income taxes | 67/77 | €14,565 | €17,480 | +€2,915 | +20.0% |
| Profit (loss) for the period | 9904 | €26,475 | €27,710 | +€1,235 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,475 | €27,710 | +€1,235 | +4.7% |
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 5 October 2026 via checked.be.