GOVENTOUT: 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.
GOVENTOUT
Largest movements
- Receivables after one year +€970,000
up €970,000 (+1940.0%), from €50,000 to €1.0m
- Financial fixed assets -€154,000
down €154,000 (-99.9%), from €154,125 to €125
- Cash -€48,573
no longer reported in 2025 (was €48,573)
mainly Receivables after one year (-€970,000) and Debts after one year (-€40,184)
- Tangible fixed assets -€35,484
down €35,484 (-5.7%), from €624,061 to €588,577
of which Land and buildings: -€20,192
- Receivables within one year +€22,455
up €22,455 (+7.4%), from €304,917 to €327,372
of which Other amounts receivable: +€32,471
- Profit (loss) carried forward +€846,526
new in 2025: €846,526
- Debts after one year -€40,184
down €40,184 (-9.5%), from €422,743 to €382,559
- Tax, wage and social debts -€26,264
down €26,264 (-30.8%), from €85,271 to €59,007
- Trade debts -€24,720
down €24,720 (-75.2%), from €32,870 to €8,151
- Financial income +€758,630
up €758,630 (+987.5%), from €76,820 to €835,450
of which Non-recurring financial income: +€746,000
- Gross operating margin -€55,347
down €55,347 (-46.6%), from €118,722 to €63,375
- Taxes -€22,381
down €22,381 (-62.4%), from €35,882 to €13,501
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 | €1,186,983 | €1,940,284 | +€753,301 | +63.5% |
| Fixed assets | 21/28 | €778,186 | €588,702 | -€189,484 | -24.3% |
| Tangible fixed assets | 22/27 | €624,061 | €588,577 | -€35,484 | -5.7% |
| Land and buildings | 22 | €569,870 | €549,678 | -€20,192 | -3.5% |
| Furniture and vehicles | 24 | €46,604 | €33,151 | -€13,453 | -28.9% |
| Leasing and similar rights | 25 | €2,402 | €1,236 | -€1,166 | -48.5% |
| Other tangible fixed assets | 26 | €5,185 | €4,512 | -€673 | -13.0% |
| Financial fixed assets | 28 | €154,125 | €125 | -€154,000 | -99.9% |
| Current assets | 29/58 | €408,797 | €1,351,582 | +€942,785 | +230.6% |
| Amounts receivable after more than one year | 29 | €50,000 | €1,020,000 | +€970,000 | +1940.0% |
| Other amounts receivable | 291 | €50,000 | €1,020,000 | +€970,000 | +1940.0% |
| Amounts receivable within one year | 40/41 | €304,917 | €327,372 | +€22,455 | +7.4% |
| Trade receivables | 40 | €25,984 | €15,968 | -€10,016 | -38.5% |
| Other amounts receivable | 41 | €278,933 | €311,404 | +€32,471 | +11.6% |
| Cash at bank and in hand | 54/58 | €48,573 | - | -€48,573 | |
| Deferred charges and accrued income | 490/1 | €5,307 | €4,210 | -€1,097 | -20.7% |
| Total equity and liabilities | 10/49 | €1,186,983 | €1,940,284 | +€753,301 | +63.5% |
| Equity | 10/15 | €531,310 | €1,368,914 | +€837,605 | +157.6% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €512,310 | €503,388 | -€8,922 | -1.7% |
| Tax-exempt reserves | 132 | €138,998 | €130,076 | -€8,922 | -6.4% |
| Distributable reserves | 133 | €373,312 | €373,312 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €846,526 | +€846,526 | |
| Provisions and deferred taxes | 16 | €68,995 | €64,401 | -€4,594 | -6.7% |
| Deferred taxes | 168 | €68,995 | €64,401 | -€4,594 | -6.7% |
| Amounts payable | 17/49 | €586,679 | €506,969 | -€79,710 | -13.6% |
| Amounts payable after more than one year | 17 | €422,743 | €382,559 | -€40,184 | -9.5% |
| Financial debts | 170/4 | €422,743 | €382,559 | -€40,184 | -9.5% |
| Amounts payable within one year | 42/48 | €163,936 | €124,410 | -€39,526 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €45,794 | €50,651 | +€4,856 | +10.6% |
| Financial debts | 43 | - | €6,602 | +€6,602 | |
| Credit institutions | 430/8 | - | €6,602 | +€6,602 | |
| Trade debts | 44 | €32,870 | €8,151 | -€24,720 | -75.2% |
| Suppliers | 440/4 | €32,870 | €8,151 | -€24,720 | -75.2% |
| Taxes, remuneration and social security | 45 | €85,271 | €59,007 | -€26,264 | -30.8% |
| Taxes | 450/3 | €85,271 | €59,007 | -€26,264 | -30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,137 | €37,956 | -€182 | -0.5% |
| Other operating charges | 640/8 | €2,801 | €2,614 | -€188 | -6.7% |
| Gross operating margin | 9900 | €118,722 | €63,375 | -€55,347 | -46.6% |
| Operating profit (loss) | 9901 | €77,783 | €22,806 | -€54,978 | -70.7% |
| Financial income | 75/76B | €76,820 | €835,450 | +€758,630 | +987.5% |
| Recurring financial income | 75 | €76,820 | €89,450 | +€12,630 | +16.4% |
| Non-recurring financial income | 76B | - | €746,000 | +€746,000 | |
| Financial charges | 65/66B | €11,974 | €11,744 | -€230 | -1.9% |
| Recurring financial charges | 65 | €11,974 | €11,744 | -€230 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €142,629 | €846,511 | +€703,882 | +493.5% |
| Transfer from deferred taxes | 780 | - | €4,594 | +€4,594 | |
| Income taxes | 67/77 | €35,882 | €13,501 | -€22,381 | -62.4% |
| Profit (loss) for the period | 9904 | €106,747 | €837,605 | +€730,857 | +684.7% |
| Transfer from tax-exempt reserves | 789 | - | €8,922 | +€8,922 | |
| Profit (loss) for the period to be appropriated | 9905 | €106,747 | €846,526 | +€739,779 | +693.0% |
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.