GOVEMED: 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.
What changed
GOVEMED
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€48,302
2024 · €46,431+€1,871
Equity
€2.1m
2024 · €2.0m+€48,302
Cash
€2,211
2024 · €9,526-€7,316
Balance sheet total
€3.0m
2024 · €3.0m-€32,618
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€80,703
down €80,703 (-12.9%), from €625,000 to €544,297
- Reserves +€48,302
up €48,302 (+10.4%), from €465,732 to €514,034
of which Distributable reserves: +€48,302
- Current portion of long-term debt +€35,999
up €35,999 (+286%), from €12,584 to €48,583
Income statement
- Financial charges +€10,420
up €10,420 (+57.6%), from €18,082 to €28,502
- Gross operating margin +€9,656
up €9,656 (+8.6%), from €112,323 to €121,979
- Depreciation -€3,098
down €3,098 (-12.0%), from €25,805 to €22,707
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.
Result 2024
€46,431
Gross operating margin
+€9,656
Depreciation
+€3,098
Other operating charges
-€423
Financial income
+€74
Financial charges
-€10,420
Taxes
-€113
Result 2025
€48,302
raises the resultlowers the result
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.
From operations
+€41,814
Investment
-€4,430
Financing
-€44,700
Cash 2024
€9,526
From operations (derived)
+€41,814
Net result for the year
+€48,302
Depreciation
+€22,707
Receivables within one year
+€7,316
Deferred charges and accrued income
-€290
Trade debts
-€8,333
Tax, wage and social debts
-€3,014
Other debts
-€24,874
Investment (derived)
-€4,430
Investment in fixed assets (net)
-€4,430
Financing
-€44,700
Debts after one year
-€80,703
Current portion of long-term debt
+€35,999
Short-term financial debts
+€4
Cash 2025
€2,211
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,041,803 | €3,009,185 | -€32,618 | -1.1% |
| Fixed assets | 21/28 | €2,973,189 | €2,954,912 | -€18,277 | -0.6% |
| Tangible fixed assets | 22/27 | €556,811 | €538,535 | -€18,277 | -3.3% |
| Land and buildings | 22 | €544,114 | €529,786 | -€14,328 | -2.6% |
| Plant, machinery and equipment | 23 | - | €4,317 | +€4,317 | |
| Furniture and vehicles | 24 | €12,698 | €4,432 | -€8,265 | -65.1% |
| Financial fixed assets | 28 | €2,416,378 | €2,416,378 | = | 0.0% |
| Current assets | 29/58 | €68,614 | €54,273 | -€14,342 | -20.9% |
| Amounts receivable within one year | 40/41 | €56,917 | €49,601 | -€7,316 | -12.9% |
| Trade receivables | 40 | €6,604 | €6,945 | +€341 | +5.2% |
| Other amounts receivable | 41 | €50,313 | €42,656 | -€7,657 | -15.2% |
| Cash at bank and in hand | 54/58 | €9,526 | €2,211 | -€7,316 | -76.8% |
| Deferred charges and accrued income | 490/1 | €2,171 | €2,461 | +€290 | +13.4% |
| Total equity and liabilities | 10/49 | €3,041,803 | €3,009,185 | -€32,618 | -1.1% |
| Equity | 10/15 | €2,029,084 | €2,077,386 | +€48,302 | +2.4% |
| Contributions | 10/11 | €1,465,000 | €1,465,000 | = | 0.0% |
| Reserves | 13 | €465,732 | €514,034 | +€48,302 | +10.4% |
| Non-distributable reserves | 130/1 | €19,175 | €19,175 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,175 | €19,175 | = | 0.0% |
| Distributable reserves | 133 | €446,557 | €494,859 | +€48,302 | +10.8% |
| Profit (loss) carried forward | 14 | €98,352 | €98,352 | = | 0.0% |
| Amounts payable | 17/49 | €1,012,720 | €931,799 | -€80,921 | -8.0% |
| Amounts payable after more than one year | 17 | €625,000 | €544,297 | -€80,703 | -12.9% |
| Financial debts | 170/4 | €625,000 | €544,297 | -€80,703 | -12.9% |
| Amounts payable within one year | 42/48 | €387,720 | €387,501 | -€218 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €12,584 | €48,583 | +€35,999 | +286% |
| Financial debts | 43 | €5,109 | €5,113 | +€4 | +0.1% |
| Credit institutions | 430/8 | €5,109 | €5,113 | +€4 | +0.1% |
| Trade debts | 44 | €13,128 | €4,795 | -€8,333 | -63.5% |
| Suppliers | 440/4 | €13,128 | €4,795 | -€8,333 | -63.5% |
| Taxes, remuneration and social security | 45 | €6,233 | €3,219 | -€3,014 | -48.4% |
| Taxes | 450/3 | €6,233 | €3,219 | -€3,014 | -48.4% |
| Other amounts payable | 47/48 | €350,666 | €325,791 | -€24,874 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,805 | €22,707 | -€3,098 | -12.0% |
| Other operating charges | 640/8 | €3,958 | €4,381 | +€423 | +10.7% |
| Gross operating margin | 9900 | €112,323 | €121,979 | +€9,656 | +8.6% |
| Operating profit (loss) | 9901 | €82,560 | €94,891 | +€12,331 | +14.9% |
| Financial income | 75/76B | €59 | €133 | +€74 | +125% |
| Recurring financial income | 75 | €59 | €133 | +€74 | +125% |
| Financial charges | 65/66B | €18,082 | €28,502 | +€10,420 | +57.6% |
| Recurring financial charges | 65 | €18,082 | €28,502 | +€10,420 | +57.6% |
| Profit (loss) for the period before taxes | 9903 | €64,537 | €66,522 | +€1,984 | +3.1% |
| Income taxes | 67/77 | €18,106 | €18,219 | +€113 | +0.6% |
| Profit (loss) for the period | 9904 | €46,431 | €48,302 | +€1,871 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,431 | €48,302 | +€1,871 | +4.0% |
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 29 October 2026 via checked.be.