GOVPROP: 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.
GOVPROP
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Advances received -€987,285
down €987,285 (-88.1%), from €1.1m to €133,309
- Trade debts +€686,925
up €686,925 (+245.9%), from €279,308 to €966,234
- Debts after one year -€470,879
down €470,879 (-1.6%), from €28.7m to €28.2m
- Current portion of long-term debt +€450,000
up €450,000 (+33.8%), from €1.3m to €1.8m
- Other debts -€378,080
no longer reported in 2025 (was €378,080)
- Gross operating margin +€1.8m
up €1.8m (+115.3%), from €1.6m to €3.4m
- Financial charges +€1.5m
up €1.5m (+2588.8%), from €58,461 to €1.6m
- Depreciation +€968,425
up €968,425 (+2789.7%), from €34,714 to €1.0m
- Other operating charges +€471,210
up €471,210 (+9790.5%), from €4,813 to €476,023
- Taxes -€38,779
no longer reported in 2025 (was €38,779)
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 | €33,574,356 | €33,533,872 | -€40,483 | -0.1% |
| Fixed assets | 21/28 | €32,965,286 | €32,992,034 | +€26,748 | +0.1% |
| Tangible fixed assets | 22/27 | €32,965,286 | €32,992,034 | +€26,748 | +0.1% |
| Land and buildings | 22 | €32,965,286 | €32,588,179 | -€377,107 | -1.1% |
| Furniture and vehicles | 24 | - | €403,855 | +€403,855 | |
| Current assets | 29/58 | €609,070 | €541,839 | -€67,231 | -11.0% |
| Amounts receivable within one year | 40/41 | - | €188,998 | +€188,998 | |
| Trade receivables | 40 | - | €188,998 | +€188,998 | |
| Cash at bank and in hand | 54/58 | €609,070 | €352,841 | -€256,229 | -42.1% |
| Total equity and liabilities | 10/49 | €33,574,356 | €33,533,872 | -€40,483 | -0.1% |
| Equity | 10/15 | €1,662,413 | €1,997,139 | +€334,726 | +20.1% |
| Contributions | 10/11 | €3,500,000 | €3,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,837,587 | -€1,502,861 | +€334,726 | +18.2% |
| Amounts payable | 17/49 | €31,911,943 | €31,536,733 | -€375,210 | -1.2% |
| Amounts payable after more than one year | 17 | €28,706,987 | €28,236,108 | -€470,879 | -1.6% |
| Financial debts | 170/4 | €28,706,987 | €28,236,108 | -€470,879 | -1.6% |
| Amounts payable within one year | 42/48 | €3,146,760 | €2,918,321 | -€228,439 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €1,330,000 | €1,780,000 | +€450,000 | +33.8% |
| Trade debts | 44 | €279,308 | €966,234 | +€686,925 | +245.9% |
| Suppliers | 440/4 | €279,308 | €966,234 | +€686,925 | +245.9% |
| Advances received on contracts in progress | 46 | €1,120,594 | €133,309 | -€987,285 | -88.1% |
| Taxes, remuneration and social security | 45 | €38,779 | €38,779 | = | 0.0% |
| Taxes | 450/3 | €38,779 | €38,779 | = | 0.0% |
| Other amounts payable | 47/48 | €378,080 | - | -€378,080 | |
| Accrued charges and deferred income | 492/3 | €58,196 | €382,304 | +€324,108 | +556.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,714 | €1,003,139 | +€968,425 | +2789.7% |
| Other operating charges | 640/8 | €4,813 | €476,023 | +€471,210 | +9790.5% |
| Gross operating margin | 9900 | €1,572,347 | €3,385,797 | +€1.8m | +115.3% |
| Operating profit (loss) | 9901 | €1,532,820 | €1,906,636 | +€373,816 | +24.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €58,461 | €1,571,911 | +€1.5m | +2588.8% |
| Recurring financial charges | 65 | €58,461 | €1,571,911 | +€1.5m | +2588.8% |
| Profit (loss) for the period before taxes | 9903 | €1,474,359 | €334,726 | -€1.1m | -77.3% |
| Income taxes | 67/77 | €38,779 | - | -€38,779 | |
| Profit (loss) for the period | 9904 | €1,435,581 | €334,726 | -€1.1m | -76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,435,581 | €334,726 | -€1.1m | -76.7% |
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 4 October 2026 via checked.be.