GOVERS JEF: 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.
GOVERS JEF
Largest movements
- Cash +€182,876
up €182,876 (+116.8%), from €156,543 to €339,419
mainly Current investments (+€150,000) and Net result for the year (+€46,057)
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Tangible fixed assets +€25,826
up €25,826 (+1514.0%), from €1,706 to €27,532
of which Furniture and vehicles: +€26,206
- Reserves +€46,057
up €46,057 (+16.0%), from €287,210 to €333,267
- Trade debts -€9,213
down €9,213 (-87.8%), from €10,493 to €1,280
- Tax, wage and social debts +€6,638
new in 2025: €6,638
- Debts after one year +€6,024
new in 2025: €6,024
- Current portion of long-term debt +€4,968
new in 2025: €4,968
- Gross operating margin +€39,137
up €39,137 (+132.6%), from €29,512 to €68,649
- Taxes +€11,594
up €11,594 (+146.2%), from €7,929 to €19,524
- Depreciation +€5,632
up €5,632 (+2900.7%), from €194 to €5,826
- Financial income +€3,753
up €3,753 (+415.4%), from €904 to €4,657
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 | €321,369 | €375,569 | +€54,200 | +16.9% |
| Fixed assets | 21/28 | €1,706 | €27,532 | +€25,826 | +1514.0% |
| Tangible fixed assets | 22/27 | €1,706 | €27,532 | +€25,826 | +1514.0% |
| Plant, machinery and equipment | 23 | €1,706 | €1,326 | -€380 | -22.3% |
| Furniture and vehicles | 24 | - | €26,206 | +€26,206 | |
| Current assets | 29/58 | €319,663 | €348,037 | +€28,374 | +8.9% |
| Stocks and contracts in progress | 3 | €2,936 | €2,859 | -€77 | -2.6% |
| Stocks | 30/36 | €2,936 | €2,859 | -€77 | -2.6% |
| Amounts receivable within one year | 40/41 | €7,221 | €3,473 | -€3,748 | -51.9% |
| Trade receivables | 40 | €1,306 | €2,439 | +€1,133 | +86.7% |
| Other amounts receivable | 41 | €5,915 | €1,034 | -€4,881 | -82.5% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €156,543 | €339,419 | +€182,876 | +116.8% |
| Deferred charges and accrued income | 490/1 | €2,962 | €2,285 | -€677 | -22.9% |
| Total equity and liabilities | 10/49 | €321,369 | €375,569 | +€54,200 | +16.9% |
| Equity | 10/15 | €289,210 | €335,267 | +€46,057 | +15.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €287,210 | €333,267 | +€46,057 | +16.0% |
| Distributable reserves | 133 | €287,210 | €333,267 | +€46,057 | +16.0% |
| Amounts payable | 17/49 | €32,159 | €40,303 | +€8,143 | +25.3% |
| Amounts payable after more than one year | 17 | - | €6,024 | +€6,024 | |
| Financial debts | 170/4 | - | €6,024 | +€6,024 | |
| Amounts payable within one year | 42/48 | €32,159 | €34,279 | +€2,120 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | - | €4,968 | +€4,968 | |
| Trade debts | 44 | €10,493 | €1,280 | -€9,213 | -87.8% |
| Suppliers | 440/4 | €10,493 | €1,280 | -€9,213 | -87.8% |
| Taxes, remuneration and social security | 45 | - | €6,638 | +€6,638 | |
| Taxes | 450/3 | - | €6,638 | +€6,638 | |
| Other amounts payable | 47/48 | €21,666 | €21,392 | -€274 | -1.3% |
| Remuneration, social security and pensions | 62 | €629 | €554 | -€75 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194 | €5,826 | +€5,632 | +2900.7% |
| Other operating charges | 640/8 | €280 | €391 | +€111 | +39.7% |
| Gross operating margin | 9900 | €29,512 | €68,649 | +€39,137 | +132.6% |
| Operating profit (loss) | 9901 | €28,409 | €61,878 | +€33,469 | +117.8% |
| Financial income | 75/76B | €904 | €4,657 | +€3,753 | +415.4% |
| Recurring financial income | 75 | €904 | €4,657 | +€3,753 | +415.4% |
| Financial charges | 65/66B | €531 | €955 | +€423 | +79.7% |
| Recurring financial charges | 65 | €531 | €955 | +€423 | +79.7% |
| Profit (loss) for the period before taxes | 9903 | €28,781 | €65,581 | +€36,799 | +127.9% |
| Income taxes | 67/77 | €7,929 | €19,524 | +€11,594 | +146.2% |
| Profit (loss) for the period | 9904 | €20,852 | €46,057 | +€25,205 | +120.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,852 | €46,057 | +€25,205 | +120.9% |
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 10 October 2026 via checked.be.