GOVR: 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.
GOVR
Largest movements
- Receivables within one year -€23,939
down €23,939 (-77.2%), from €31,014 to €7,075
- Tangible fixed assets -€13,546
down €13,546 (-76.3%), from €17,756 to €4,210
- Deferred charges and accrued income +€539
up €539 (+21.1%), from €2,558 to €3,096
- Profit (loss) carried forward -€30,574
down €30,574 (-61.7%), from -€49,590 to -€80,164
- Current portion of long-term debt -€14,408
no longer reported in 2025 (was €14,408)
- Trade debts +€5,937
up €5,937 (+282%), from €2,102 to €8,039
- Tax, wage and social debts +€2,838
up €2,838 (+40.8%), from €6,962 to €9,800
of which Remuneration and social security: +€3,615
- Other debts -€1,039
down €1,039 (-1.9%), from €53,858 to €52,819
- Gross operating margin -€29,853
down €29,853 (-40.5%), from €73,682 to €43,829
- Staff costs +€5,929
up €5,929 (+11.7%), from €50,566 to €56,495
- Depreciation -€1,240
down €1,240 (-7.0%), from €17,685 to €16,444
- Financial charges -€903
down €903 (-51.0%), from €1,771 to €868
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,327 | €14,382 | -€36,946 | -72.0% |
| Fixed assets | 21/28 | €17,756 | €4,210 | -€13,546 | -76.3% |
| Tangible fixed assets | 22/27 | €17,756 | €4,210 | -€13,546 | -76.3% |
| Furniture and vehicles | 24 | €17,756 | €4,210 | -€13,546 | -76.3% |
| Current assets | 29/58 | €33,572 | €10,172 | -€23,400 | -69.7% |
| Amounts receivable within one year | 40/41 | €31,014 | €7,075 | -€23,939 | -77.2% |
| Trade receivables | 40 | €31,014 | €7,075 | -€23,939 | -77.2% |
| Deferred charges and accrued income | 490/1 | €2,558 | €3,096 | +€539 | +21.1% |
| Total equity and liabilities | 10/49 | €51,327 | €14,382 | -€36,946 | -72.0% |
| Equity | 10/15 | -€30,990 | -€61,564 | -€30,574 | -98.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,590 | -€80,164 | -€30,574 | -61.7% |
| Amounts payable | 17/49 | €82,317 | €75,945 | -€6,372 | -7.7% |
| Amounts payable within one year | 42/48 | €82,317 | €75,945 | -€6,372 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €14,408 | - | -€14,408 | |
| Financial debts | 43 | €4,987 | €5,288 | +€301 | +6.0% |
| Credit institutions | 430/8 | €4,987 | €5,288 | +€301 | +6.0% |
| Trade debts | 44 | €2,102 | €8,039 | +€5,937 | +282% |
| Suppliers | 440/4 | €2,102 | €8,039 | +€5,937 | +282% |
| Taxes, remuneration and social security | 45 | €6,962 | €9,800 | +€2,838 | +40.8% |
| Taxes | 450/3 | €6,067 | €5,290 | -€777 | -12.8% |
| Remuneration and social security | 454/9 | €895 | €4,510 | +€3,615 | +404% |
| Other amounts payable | 47/48 | €53,858 | €52,819 | -€1,039 | -1.9% |
| Remuneration, social security and pensions | 62 | €50,566 | €56,495 | +€5,929 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,685 | €16,444 | -€1,240 | -7.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €73,682 | €43,829 | -€29,853 | -40.5% |
| Operating profit (loss) | 9901 | €5,044 | -€29,510 | -€34,555 | |
| Financial income | 75/76B | €42 | - | -€42 | |
| Recurring financial income | 75 | €42 | - | -€42 | |
| Financial charges | 65/66B | €1,771 | €868 | -€903 | -51.0% |
| Recurring financial charges | 65 | €1,771 | €868 | -€903 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | €3,316 | -€30,379 | -€33,694 | |
| Income taxes | 67/77 | €188 | €195 | +€8 | +4.1% |
| Profit (loss) for the period | 9904 | €3,128 | -€30,574 | -€33,702 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,128 | -€30,574 | -€33,702 |
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.