GOVAR RENTING: what changed
GOVAR RENTING
Largest movements
- Receivables within one year -€404,856
down €404,856 (-96.8%), from €418,337 to €13,481
of which Other amounts receivable: -€401,008
- Tangible fixed assets -€196,977
down €196,977 (-2.9%), from €6.7m to €6.5m
of which Land and buildings: -€412,605
- Other debts -€3.1m
down €3.1m (-83.9%), from €3.7m to €596,509
- Contributions +€2.0m
up €2.0m (+32,806%), from €6,200 to €2.0m
- Reserves +€375,077
up €375,077 (+13.4%), from €2.8m to €3.2m
of which Distributable reserves: +€379,400
- Trade debts +€280,759
up €280,759 (+12,997%), from €2,160 to €282,919
- Debts after one year -€135,946
down €135,946 (-30.1%), from €451,060 to €315,114
- Gross operating margin +€262,286
up €262,286 (+28.3%), from €927,644 to €1.2m
- Depreciation +€110,081
up €110,081 (+27.6%), from €398,543 to €508,624
- Financial charges +€34,298
up €34,298 (+31.5%), from €108,859 to €143,157
- Other operating charges +€13,135
up €13,135 (+113%), from €11,638 to €24,773
- Taxes +€13,097
up €13,097 (+10.2%), from €128,941 to €142,039
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,165,340 | €6,607,658 | -€557,682 | -7.8% |
| Fixed assets | 21/28 | €6,706,290 | €6,509,313 | -€196,977 | -2.9% |
| Tangible fixed assets | 22/27 | €6,706,290 | €6,509,313 | -€196,977 | -2.9% |
| Land and buildings | 22 | €6,623,034 | €6,210,429 | -€412,605 | -6.2% |
| Plant, machinery and equipment | 23 | €72,118 | €298,884 | +€226,766 | +314% |
| Furniture and vehicles | 24 | €11,137 | €0 | -€11,137 | -100% |
| Current assets | 29/58 | €459,050 | €98,345 | -€360,705 | -78.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €418,337 | €13,481 | -€404,856 | -96.8% |
| Trade receivables | 40 | €7,284 | €3,436 | -€3,848 | -52.8% |
| Other amounts receivable | 41 | €411,053 | €10,045 | -€401,008 | -97.6% |
| Cash at bank and in hand | 54/58 | €12,521 | €76,853 | +€64,333 | +514% |
| Deferred charges and accrued income | 490/1 | €28,193 | €8,010 | -€20,182 | -71.6% |
| Total equity and liabilities | 10/49 | €7,165,340 | €6,607,658 | -€557,682 | -7.8% |
| Equity | 10/15 | €2,804,741 | €5,213,770 | +€2.4m | +85.9% |
| Contributions | 10/11 | €6,200 | €2,040,152 | +€2.0m | +32,806% |
| Reserves | 13 | €2,798,541 | €3,173,618 | +€375,077 | +13.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €104,816 | €100,493 | -€4,323 | -4.1% |
| Distributable reserves | 133 | €2,693,726 | €3,073,125 | +€379,400 | +14.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €20,374 | €18,558 | -€1,816 | -8.9% |
| Deferred taxes | 168 | €20,374 | €18,558 | -€1,816 | -8.9% |
| Amounts payable | 17/49 | €4,340,224 | €1,375,329 | -€3.0m | -68.3% |
| Amounts payable after more than one year | 17 | €451,060 | €315,114 | -€135,946 | -30.1% |
| Financial debts | 170/4 | €451,060 | €315,114 | -€135,946 | -30.1% |
| Amounts payable within one year | 42/48 | €3,827,421 | €988,655 | -€2.8m | -74.2% |
| Current portion of amounts payable after more than one year | 42 | €107,572 | €108,889 | +€1,317 | +1.2% |
| Trade debts | 44 | €2,160 | €282,919 | +€280,759 | +12,997% |
| Suppliers | 440/4 | €2,160 | €282,919 | +€280,759 | +12,997% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,941 | €337 | -€3,604 | -91.5% |
| Taxes | 450/3 | €3,941 | €337 | -€3,604 | -91.5% |
| Other amounts payable | 47/48 | €3,713,747 | €596,509 | -€3.1m | -83.9% |
| Accrued charges and deferred income | 492/3 | €61,743 | €71,561 | +€9,818 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €398,543 | €508,624 | +€110,081 | +27.6% |
| Other operating charges | 640/8 | €11,638 | €24,773 | +€13,135 | +113% |
| Gross operating margin | 9900 | €927,644 | €1,189,930 | +€262,286 | +28.3% |
| Operating profit (loss) | 9901 | €517,463 | €656,533 | +€139,070 | +26.9% |
| Financial income | 75/76B | €4,625 | €1,924 | -€2,702 | -58.4% |
| Recurring financial income | 75 | €4,625 | €1,924 | -€2,702 | -58.4% |
| Financial charges | 65/66B | €108,859 | €143,157 | +€34,298 | +31.5% |
| Recurring financial charges | 65 | €108,859 | €143,157 | +€34,298 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | €413,230 | €515,300 | +€102,070 | +24.7% |
| Transfer from deferred taxes | 780 | €1,451 | €1,816 | +€365 | +25.1% |
| Income taxes | 67/77 | €128,941 | €142,039 | +€13,097 | +10.2% |
| Profit (loss) for the period | 9904 | €285,739 | €375,077 | +€89,338 | +31.3% |
| Transfer from tax-exempt reserves | 789 | €3,454 | €4,323 | +€869 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €289,193 | €379,400 | +€90,206 | +31.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.