GovEst: 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.
GovEst
Largest movements
- Receivables within one year +€187,973
up €187,973 (+10.0%), from €1.9m to €2.1m
- Cash -€141,685
down €141,685 (-85.7%), from €165,298 to €23,613
mainly Receivables within one year (-€187,973) and Deferred charges and accrued income (-€49,056)
- Deferred charges and accrued income +€49,056
new in 2025: €49,056
- Reserves +€355,729
up €355,729 (+17.4%), from €2.0m to €2.4m
- Profit (loss) carried forward -€264,169
down €264,169 (-77.2%), from €341,968 to €77,799
- Financial income -€29,658
down €29,658 (-19.6%), from €151,687 to €122,029
- Taxes -€7,872
down €7,872 (-20.8%), from €37,800 to €29,928
- Gross operating margin +€4,156
up €4,156 (+97.9%), from -€4,244 to -€88
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 | €4,792,730 | €4,888,074 | +€95,344 | +2.0% |
| Fixed assets | 21/28 | €1,325,005 | €1,325,005 | = | 0.0% |
| Financial fixed assets | 28 | €1,325,005 | €1,325,005 | = | 0.0% |
| Current assets | 29/58 | €3,467,725 | €3,563,069 | +€95,344 | +2.7% |
| Amounts receivable after more than one year | 29 | €1,428,000 | €1,428,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,428,000 | €1,428,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,874,427 | €2,062,400 | +€187,973 | +10.0% |
| Other amounts receivable | 41 | €1,874,427 | €2,062,400 | +€187,973 | +10.0% |
| Cash at bank and in hand | 54/58 | €165,298 | €23,613 | -€141,685 | -85.7% |
| Deferred charges and accrued income | 490/1 | - | €49,056 | +€49,056 | |
| Total equity and liabilities | 10/49 | €4,792,730 | €4,888,074 | +€95,344 | +2.0% |
| Equity | 10/15 | €4,791,264 | €4,882,824 | +€91,560 | +1.9% |
| Contributions | 10/11 | €2,405,025 | €2,405,025 | = | 0.0% |
| Reserves | 13 | €2,044,271 | €2,400,000 | +€355,729 | +17.4% |
| Distributable reserves | 133 | €2,044,271 | €2,400,000 | +€355,729 | +17.4% |
| Profit (loss) carried forward | 14 | €341,968 | €77,799 | -€264,169 | -77.2% |
| Amounts payable | 17/49 | €1,466 | €5,250 | +€3,785 | +258.2% |
| Amounts payable within one year | 42/48 | €1,466 | €5,250 | +€3,785 | +258.2% |
| Trade debts | 44 | €666 | €0 | -€666 | -100.0% |
| Suppliers | 440/4 | €666 | €0 | -€666 | -100.0% |
| Taxes, remuneration and social security | 45 | €800 | €5,250 | +€4,450 | +556.3% |
| Taxes | 450/3 | €800 | €5,250 | +€4,450 | +556.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€4,244 | -€88 | +€4,156 | +97.9% |
| Operating profit (loss) | 9901 | -€4,631 | -€487 | +€4,144 | +89.5% |
| Financial income | 75/76B | €151,687 | €122,029 | -€29,658 | -19.6% |
| Recurring financial income | 75 | €151,687 | €122,029 | -€29,658 | -19.6% |
| Financial charges | 65/66B | €27 | €54 | +€27 | +100.0% |
| Recurring financial charges | 65 | €27 | €54 | +€27 | +100.0% |
| Profit (loss) for the period before taxes | 9903 | €147,028 | €121,488 | -€25,541 | -17.4% |
| Income taxes | 67/77 | €37,800 | €29,928 | -€7,872 | -20.8% |
| Profit (loss) for the period | 9904 | €109,228 | €91,560 | -€17,669 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €109,228 | €91,560 | -€17,669 | -16.2% |
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.