GOVETO: 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.
GOVETO
Largest movements
- Tangible fixed assets -€10,053
down €10,053 (-7.0%), from €144,444 to €134,391
- Cash +€6,732
new in 2025: €6,732
- Deferred charges and accrued income +€2,050
new in 2025: €2,050
- Debts after one year -€21,346
down €21,346 (-26.1%), from €81,886 to €60,539
- Other debts +€13,462
up €13,462 (+1,860%), from €724 to €14,186
- Contributions +€6,200
up €6,200 (+50.0%), from €12,400 to €18,600
- Reserves +€4,000
up €4,000 (+12.0%), from €33,327 to €37,327
of which Distributable reserves: +€4,000
- Tax, wage and social debts -€2,471
down €2,471 (-66.8%), from €3,700 to €1,229
- Gross operating margin +€15,691
up €15,691 (+297%), from €5,283 to €20,973
- Financial charges +€1,941
up €1,941 (+103%), from €1,884 to €3,824
- Other operating charges -€1,032
down €1,032 (-42.2%), from €2,445 to €1,413
- Taxes +€748
new in 2025: €748
From the 2023 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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €144,444 | €143,173 | -€1,271 | -0.9% |
| Fixed assets | 21/28 | €144,444 | €134,391 | -€10,053 | -7.0% |
| Tangible fixed assets | 22/27 | €144,444 | €134,391 | -€10,053 | -7.0% |
| Land and buildings | 22 | €144,444 | €134,391 | -€10,053 | -7.0% |
| Current assets | 29/58 | - | €8,782 | +€8,782 | |
| Cash at bank and in hand | 54/58 | - | €6,732 | +€6,732 | |
| Deferred charges and accrued income | 490/1 | - | €2,050 | +€2,050 | |
| Total equity and liabilities | 10/49 | €144,444 | €143,173 | -€1,271 | -0.9% |
| Equity | 10/15 | €46,393 | €56,107 | +€9,714 | +20.9% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €33,327 | €37,327 | +€4,000 | +12.0% |
| Non-distributable reserves | 130/1 | €827 | €827 | = | 0.0% |
| Reserves not available under the articles | 1311 | €827 | €827 | = | 0.0% |
| Distributable reserves | 133 | €32,500 | €36,500 | +€4,000 | +12.3% |
| Profit (loss) carried forward | 14 | €666 | €180 | -€486 | -73.0% |
| Amounts payable | 17/49 | €98,051 | €87,067 | -€10,985 | -11.2% |
| Amounts payable after more than one year | 17 | €81,886 | €60,539 | -€21,346 | -26.1% |
| Financial debts | 170/4 | €81,886 | €60,539 | -€21,346 | -26.1% |
| Amounts payable within one year | 42/48 | €16,166 | €26,177 | +€10,011 | +61.9% |
| Current portion of amounts payable after more than one year | 42 | €11,358 | €10,762 | -€595 | -5.2% |
| Trade debts | 44 | €384 | - | -€384 | |
| Suppliers | 440/4 | €384 | - | -€384 | |
| Taxes, remuneration and social security | 45 | €3,700 | €1,229 | -€2,471 | -66.8% |
| Taxes | 450/3 | €3,700 | €1,229 | -€2,471 | -66.8% |
| Other amounts payable | 47/48 | €724 | €14,186 | +€13,462 | +1,860% |
| Accrued charges and deferred income | 492/3 | - | €350 | +€350 | |
| Remuneration, social security and pensions | 62 | - | €167 | +€167 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,027 | €5,027 | = | 0.0% |
| Other operating charges | 640/8 | €2,445 | €1,413 | -€1,032 | -42.2% |
| Gross operating margin | 9900 | €5,283 | €20,973 | +€15,691 | +297% |
| Operating profit (loss) | 9901 | -€2,189 | €14,367 | +€16,556 | |
| Financial charges | 65/66B | €1,884 | €3,824 | +€1,941 | +103% |
| Recurring financial charges | 65 | €1,884 | €3,824 | +€1,941 | +103% |
| Profit (loss) for the period before taxes | 9903 | -€4,072 | €10,543 | +€14,615 | |
| Income taxes | 67/77 | - | €748 | +€748 | |
| Profit (loss) for the period | 9904 | -€4,072 | €9,795 | +€13,867 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,072 | €9,795 | +€13,867 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.