GOVIM: 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.
GOVIM
Largest movements
- Cash +€119,991
up €119,991 (+76.0%), from €157,838 to €277,829
mainly Net result for the year (+€123,469) and Depreciation (+€17,443)
- Reserves +€123,469
up €123,469 (+17.0%), from €726,010 to €849,479
- Depreciation +€11,638
up €11,638 (+200%), from €5,805 to €17,443
- Taxes -€5,637
down €5,637 (-35.5%), from €15,894 to €10,257
- Financial income +€1,332
up €1,332 (+1.0%), from €135,308 to €136,640
- Gross operating margin +€1,002
up €1,002 (+2.9%), from €34,474 to €35,476
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 | €5,818,706 | €5,934,571 | +€115,865 | +2.0% |
| Fixed assets | 21/28 | €5,639,919 | €5,625,607 | -€14,312 | -0.3% |
| Tangible fixed assets | 22/27 | €79,183 | €64,871 | -€14,312 | -18.1% |
| Plant, machinery and equipment | 23 | - | €2,686 | +€2,686 | |
| Furniture and vehicles | 24 | €79,183 | €62,185 | -€16,998 | -21.5% |
| Financial fixed assets | 28 | €5,560,736 | €5,560,736 | = | 0.0% |
| Current assets | 29/58 | €178,788 | €308,964 | +€130,177 | +72.8% |
| Amounts receivable within one year | 40/41 | €16,529 | €26,507 | +€9,977 | +60.4% |
| Trade receivables | 40 | €16,335 | €16,335 | = | 0.0% |
| Other amounts receivable | 41 | €194 | €10,172 | +€9,977 | +5,136% |
| Cash at bank and in hand | 54/58 | €157,838 | €277,829 | +€119,991 | +76.0% |
| Deferred charges and accrued income | 490/1 | €4,420 | €4,629 | +€208 | +4.7% |
| Total equity and liabilities | 10/49 | €5,818,706 | €5,934,571 | +€115,865 | +2.0% |
| Equity | 10/15 | €4,816,682 | €4,940,151 | +€123,469 | +2.6% |
| Contributions | 10/11 | €4,044,766 | €4,044,766 | = | 0.0% |
| Reserves | 13 | €726,010 | €849,479 | +€123,469 | +17.0% |
| Distributable reserves | 133 | €726,010 | €849,479 | +€123,469 | +17.0% |
| Profit (loss) carried forward | 14 | €45,907 | €45,907 | = | 0.0% |
| Amounts payable | 17/49 | €1,002,024 | €994,420 | -€7,605 | -0.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,001,966 | €994,344 | -€7,622 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €11,047 | €0 | -€11,047 | -100% |
| Trade debts | 44 | €1,188 | €1,115 | -€73 | -6.1% |
| Suppliers | 440/4 | €1,188 | €1,115 | -€73 | -6.1% |
| Taxes, remuneration and social security | 45 | €10,237 | €13,735 | +€3,498 | +34.2% |
| Taxes | 450/3 | €10,237 | €13,735 | +€3,498 | +34.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €979,494 | €979,494 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €58 | €76 | +€17 | +29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,805 | €17,443 | +€11,638 | +200% |
| Other operating charges | 640/8 | €1,108 | €1,206 | +€98 | +8.8% |
| Gross operating margin | 9900 | €34,474 | €35,476 | +€1,002 | +2.9% |
| Operating profit (loss) | 9901 | €27,561 | €16,827 | -€10,733 | -38.9% |
| Financial income | 75/76B | €135,308 | €136,640 | +€1,332 | +1.0% |
| Recurring financial income | 75 | €135,308 | €136,640 | +€1,332 | +1.0% |
| Financial charges | 65/66B | €19,986 | €19,740 | -€246 | -1.2% |
| Recurring financial charges | 65 | €19,986 | €19,740 | -€246 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €142,882 | €133,726 | -€9,156 | -6.4% |
| Income taxes | 67/77 | €15,894 | €10,257 | -€5,637 | -35.5% |
| Profit (loss) for the period | 9904 | €126,988 | €123,469 | -€3,519 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €126,988 | €123,469 | -€3,519 | -2.8% |
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 24 October 2026 via checked.be.