Govesto: 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.
Govesto
Largest movements
- Receivables within one year +€41,093
up €41,093 (+32.2%), from €127,638 to €168,731
of which Other amounts receivable: +€56,986
- Cash +€14,152
new in 2025: €14,152
mainly Net result for the year (+€76,663) and Short-term financial debts (+€67,692)
- Reserves +€75,763
up €75,763 (+65.7%), from €115,231 to €190,995
- Short-term financial debts +€67,692
up €67,692 (+926.3%), from €7,308 to €75,000
of which Other loans: +€50,000
- Debts after one year -€56,127
down €56,127 (-11.9%), from €470,613 to €414,485
- Tax, wage and social debts -€28,374
down €28,374 (-90.8%), from €31,258 to €2,883
- Financial income -€25,287
down €25,287 (-67.8%), from €37,310 to €12,023
- Other operating charges -€5,222
down €5,222 (-94.1%), from €5,548 to €326
- Gross operating margin +€2,403
up €2,403 (+2.1%), from €114,795 to €117,198
- Financial charges +€1,748
up €1,748 (+8.3%), from €21,137 to €22,886
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 | €719,181 | €772,198 | +€53,017 | +7.4% |
| Fixed assets | 21/28 | €590,277 | €587,765 | -€2,512 | -0.4% |
| Tangible fixed assets | 22/27 | €10,277 | €7,765 | -€2,512 | -24.4% |
| Plant, machinery and equipment | 23 | €9,190 | €7,113 | -€2,076 | -22.6% |
| Furniture and vehicles | 24 | €1,087 | €652 | -€436 | -40.1% |
| Financial fixed assets | 28 | €580,000 | €580,000 | = | 0.0% |
| Current assets | 29/58 | €128,904 | €184,433 | +€55,529 | +43.1% |
| Amounts receivable within one year | 40/41 | €127,638 | €168,731 | +€41,093 | +32.2% |
| Trade receivables | 40 | €50,021 | €34,128 | -€15,893 | -31.8% |
| Other amounts receivable | 41 | €77,617 | €134,603 | +€56,986 | +73.4% |
| Current investments | 50/53 | €4 | €4 | = | 0.0% |
| Cash at bank and in hand | 54/58 | - | €14,152 | +€14,152 | |
| Deferred charges and accrued income | 490/1 | €1,263 | €1,547 | +€284 | +22.5% |
| Total equity and liabilities | 10/49 | €719,181 | €772,198 | +€53,017 | +7.4% |
| Equity | 10/15 | €120,231 | €195,995 | +€75,763 | +63.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €115,231 | €190,995 | +€75,763 | +65.7% |
| Distributable reserves | 133 | €115,231 | €190,995 | +€75,763 | +65.7% |
| Amounts payable | 17/49 | €598,950 | €576,204 | -€22,746 | -3.8% |
| Amounts payable after more than one year | 17 | €470,613 | €414,485 | -€56,127 | -11.9% |
| Financial debts | 170/4 | €470,613 | €414,485 | -€56,127 | -11.9% |
| Amounts payable within one year | 42/48 | €112,699 | €147,319 | +€34,619 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €54,308 | €56,127 | +€1,819 | +3.3% |
| Financial debts | 43 | €7,308 | €75,000 | +€67,692 | +926.3% |
| Credit institutions | 430/8 | €7,308 | €25,000 | +€17,692 | +242.1% |
| Other loans | 439 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €18,925 | €12,408 | -€6,518 | -34.4% |
| Suppliers | 440/4 | €18,925 | €12,408 | -€6,518 | -34.4% |
| Taxes, remuneration and social security | 45 | €31,258 | €2,883 | -€28,374 | -90.8% |
| Taxes | 450/3 | €31,258 | €2,883 | -€28,374 | -90.8% |
| Other amounts payable | 47/48 | €900 | €900 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €15,638 | €14,400 | -€1,238 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,627 | €2,512 | +€885 | +54.4% |
| Other operating charges | 640/8 | €5,548 | €326 | -€5,222 | -94.1% |
| Gross operating margin | 9900 | €114,795 | €117,198 | +€2,403 | +2.1% |
| Operating profit (loss) | 9901 | €107,619 | €114,360 | +€6,741 | +6.3% |
| Financial income | 75/76B | €37,310 | €12,023 | -€25,287 | -67.8% |
| Recurring financial income | 75 | €37,310 | €12,023 | -€25,287 | -67.8% |
| Financial charges | 65/66B | €21,137 | €22,886 | +€1,748 | +8.3% |
| Recurring financial charges | 65 | €21,137 | €22,886 | +€1,748 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €123,791 | €103,497 | -€20,294 | -16.4% |
| Income taxes | 67/77 | €26,052 | €26,833 | +€782 | +3.0% |
| Profit (loss) for the period | 9904 | €97,739 | €76,663 | -€21,076 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €97,739 | €76,663 | -€21,076 | -21.6% |
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 6 October 2026 via checked.be.