GOVIAN: 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.
GOVIAN
Largest movements
- Cash +€62,898
up €62,898 (+346%), from €18,170 to €81,069
mainly Trade debts (+€118,603) and Debts after one year (+€33,665)
- Receivables within one year +€50,353
up €50,353 (+214%), from €23,482 to €73,835
of which Trade receivables: +€50,467
- Tangible fixed assets +€49,445
up €49,445 (+179%), from €27,634 to €77,080
of which Furniture and vehicles: +€39,761
- Trade debts +€118,603
up €118,603 (+394%), from €30,117 to €148,720
- Debts after one year +€33,665
new in 2025: €33,665
- Tax, wage and social debts +€17,114
up €17,114 (+32.0%), from €53,421 to €70,535
of which Taxes: +€12,565
- Profit (loss) carried forward +€16,707
up €16,707 (+50.1%), from -€33,374 to -€16,667
- Accrued charges and deferred income -€16,171
no longer reported in 2025 (was €16,171)
- Gross operating margin +€46,852
up €46,852 (+16.6%), from €282,970 to €329,821
- Depreciation +€16,875
up €16,875 (+187%), from €9,046 to €25,921
- Staff costs +€14,206
up €14,206 (+5.4%), from €261,590 to €275,796
- Financial charges +€6,180
up €6,180 (+127%), from €4,874 to €11,054
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.
Derived cash bridge
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 | €93,241 | €257,211 | +€163,971 | +176% |
| Fixed assets | 21/28 | €34,396 | €83,841 | +€49,445 | +144% |
| Tangible fixed assets | 22/27 | €27,634 | €77,080 | +€49,445 | +179% |
| Plant, machinery and equipment | 23 | €19,369 | €23,790 | +€4,421 | +22.8% |
| Furniture and vehicles | 24 | €829 | €40,590 | +€39,761 | +4,793% |
| Other tangible fixed assets | 26 | €7,436 | €12,699 | +€5,263 | +70.8% |
| Financial fixed assets | 28 | €6,762 | €6,762 | = | 0.0% |
| Current assets | 29/58 | €58,845 | €173,370 | +€114,525 | +195% |
| Stocks and contracts in progress | 3 | €17,135 | €17,135 | = | 0.0% |
| Stocks | 30/36 | €17,135 | €17,135 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,482 | €73,835 | +€50,353 | +214% |
| Trade receivables | 40 | €23,303 | €73,770 | +€50,467 | +217% |
| Other amounts receivable | 41 | €179 | €65 | -€114 | -63.6% |
| Current investments | 50/53 | - | €1,200 | +€1,200 | |
| Cash at bank and in hand | 54/58 | €18,170 | €81,069 | +€62,898 | +346% |
| Deferred charges and accrued income | 490/1 | €57 | €131 | +€74 | +130% |
| Total equity and liabilities | 10/49 | €93,241 | €257,211 | +€163,971 | +176% |
| Equity | 10/15 | -€13,374 | €3,333 | +€16,707 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,374 | -€16,667 | +€16,707 | +50.1% |
| Amounts payable | 17/49 | €106,614 | €253,878 | +€147,264 | +138% |
| Amounts payable after more than one year | 17 | - | €33,665 | +€33,665 | |
| Financial debts | 170/4 | - | €33,665 | +€33,665 | |
| Amounts payable within one year | 42/48 | €90,443 | €220,213 | +€129,769 | +143% |
| Trade debts | 44 | €30,117 | €148,720 | +€118,603 | +394% |
| Suppliers | 440/4 | €30,117 | €148,720 | +€118,603 | +394% |
| Taxes, remuneration and social security | 45 | €53,421 | €70,535 | +€17,114 | +32.0% |
| Taxes | 450/3 | €15,576 | €28,140 | +€12,565 | +80.7% |
| Remuneration and social security | 454/9 | €37,845 | €42,394 | +€4,549 | +12.0% |
| Other amounts payable | 47/48 | €6,906 | €958 | -€5,948 | -86.1% |
| Accrued charges and deferred income | 492/3 | €16,171 | - | -€16,171 | |
| Remuneration, social security and pensions | 62 | €261,590 | €275,796 | +€14,206 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,046 | €25,921 | +€16,875 | +187% |
| Other operating charges | 640/8 | €1,482 | €344 | -€1,138 | -76.8% |
| Gross operating margin | 9900 | €282,970 | €329,821 | +€46,852 | +16.6% |
| Operating profit (loss) | 9901 | €10,852 | €27,760 | +€16,909 | +156% |
| Financial income | 75/76B | €199 | - | -€199 | |
| Recurring financial income | 75 | €199 | - | -€199 | |
| Financial charges | 65/66B | €4,874 | €11,054 | +€6,180 | +127% |
| Recurring financial charges | 65 | €4,874 | €11,054 | +€6,180 | +127% |
| Profit (loss) for the period before taxes | 9903 | €6,177 | €16,707 | +€10,530 | +170% |
| Profit (loss) for the period | 9904 | €6,177 | €16,707 | +€10,530 | +170% |
| Profit (loss) for the period to be appropriated | 9905 | €6,177 | €16,707 | +€10,530 | +170% |
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 19 October 2026 via checked.be.