HET GOUDEN RUND: what changed
What changed
HET GOUDEN RUND
NACE 46.321, Wholesale of meat and meat products, excluding game and poultry
filed annual accounts (NBB)
Net result for the year
-€10,516
2024 · -€5,851-€4,665
Equity
€642,068
2024 · €647,571-€5,503
Cash
€348,851
2024 · €430,292-€81,441
Balance sheet total
€1.6m
2024 · €1.7m-€104,088
Largest movements
Assets
- Cash -€81,441
down €81,441 (-18.9%), from €430,292 to €348,851
mainly Trade debts (-€60,783) and Investment in fixed assets (net) (-€41,653)
- Receivables within one year -€34,228
down €34,228 (-6.2%), from €553,851 to €519,623
of which Other amounts receivable: -€20,611
- Stocks and contracts +€33,557
up €33,557 (+75.9%), from €44,194 to €77,751
- Deferred charges and accrued income -€26,610
down €26,610 (-92.7%), from €28,720 to €2,111
- Intangible fixed assets +€21,171
up €21,171 (+70.4%), from €30,056 to €51,227
Equity and liabilities
- Trade debts -€60,783
down €60,783 (-7.3%), from €837,906 to €777,123
- Debts after one year -€28,524
down €28,524 (-19.2%), from €148,384 to €119,861
Income statement
- Gross operating margin +€17,082
up €17,082 (+4.3%), from €399,881 to €416,963
- Financial income -€12,325
down €12,325 (-68.4%), from €18,031 to €5,705
- Depreciation +€10,715
up €10,715 (+40.7%), from €26,305 to €37,020
- Staff costs -€5,402
down €5,402 (-1.4%), from €377,438 to €372,035
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€5,851
Gross operating margin
+€17,082
Staff costs
+€5,402
Depreciation
-€10,715
Write-downs
-€3,852
Other operating charges
-€1,556
Financial income
-€12,325
Financial charges
+€1,527
Taxes
-€228
Result 2025
-€10,516
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€7,677
Investment
-€41,653
Financing
-€32,111
Cash 2024
€430,292
From operations (derived)
-€7,677
Net result for the year
-€10,516
Depreciation
+€37,020
Stocks and contracts
-€33,557
Receivables within one year
+€34,228
Deferred charges and accrued income
+€26,610
Trade debts
-€60,783
Tax, wage and social debts
-€678
Investment (derived)
-€41,653
Investment in fixed assets (net)
-€41,653
Financing
-€32,111
Debts after one year
-€28,524
Current portion of long-term debt
-€8,600
Contributions, distributions and other
+€5,013
Cash 2025
€348,851
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,735,590 | €1,631,502 | -€104,088 | -6.0% |
| Fixed assets | 21/28 | €678,533 | €683,167 | +€4,634 | +0.7% |
| Intangible fixed assets | 21 | €30,056 | €51,227 | +€21,171 | +70.4% |
| Tangible fixed assets | 22/27 | €648,477 | €631,940 | -€16,537 | -2.6% |
| Land and buildings | 22 | €598,900 | €586,096 | -€12,804 | -2.1% |
| Plant, machinery and equipment | 23 | €7,730 | €4,753 | -€2,977 | -38.5% |
| Furniture and vehicles | 24 | €1,539 | €15,026 | +€13,487 | +876% |
| Leasing and similar rights | 25 | €40,307 | €26,065 | -€14,242 | -35.3% |
| Current assets | 29/58 | €1,057,057 | €948,335 | -€108,722 | -10.3% |
| Stocks and contracts in progress | 3 | €44,194 | €77,751 | +€33,557 | +75.9% |
| Stocks | 30/36 | €44,194 | €77,751 | +€33,557 | +75.9% |
| Amounts receivable within one year | 40/41 | €553,851 | €519,623 | -€34,228 | -6.2% |
| Trade receivables | 40 | €356,257 | €342,640 | -€13,617 | -3.8% |
| Other amounts receivable | 41 | €197,594 | €176,983 | -€20,611 | -10.4% |
| Cash at bank and in hand | 54/58 | €430,292 | €348,851 | -€81,441 | -18.9% |
| Deferred charges and accrued income | 490/1 | €28,720 | €2,111 | -€26,610 | -92.7% |
| Total equity and liabilities | 10/49 | €1,735,590 | €1,631,502 | -€104,088 | -6.0% |
| Equity | 10/15 | €647,571 | €642,068 | -€5,503 | -0.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €228,979 | €218,464 | -€10,516 | -4.6% |
| Non-distributable reserves | 130/1 | €1,859 | €0 | -€1,859 | -100% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100% |
| Distributable reserves | 133 | €227,120 | €218,464 | -€8,656 | -3.8% |
| Investment grants | 15 | - | €5,013 | +€5,013 | |
| Amounts payable | 17/49 | €1,088,019 | €989,434 | -€98,585 | -9.1% |
| Amounts payable after more than one year | 17 | €148,384 | €119,861 | -€28,524 | -19.2% |
| Financial debts | 170/4 | €148,384 | €119,861 | -€28,524 | -19.2% |
| Amounts payable within one year | 42/48 | €939,635 | €869,573 | -€70,061 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €37,124 | €28,524 | -€8,600 | -23.2% |
| Trade debts | 44 | €837,906 | €777,123 | -€60,783 | -7.3% |
| Suppliers | 440/4 | €837,906 | €777,123 | -€60,783 | -7.3% |
| Taxes, remuneration and social security | 45 | €64,605 | €63,926 | -€678 | -1.0% |
| Taxes | 450/3 | €10,662 | €10,008 | -€654 | -6.1% |
| Remuneration and social security | 454/9 | €53,943 | €53,918 | -€25 | 0.0% |
| Non-recurring operating income | 76A | - | €2,303 | +€2,303 | |
| Remuneration, social security and pensions | 62 | €377,438 | €372,035 | -€5,402 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,305 | €37,020 | +€10,715 | +40.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,852 | €0 | +€3,852 | |
| Other operating charges | 640/8 | €11,028 | €12,584 | +€1,556 | +14.1% |
| Gross operating margin | 9900 | €399,881 | €416,963 | +€17,082 | +4.3% |
| Operating profit (loss) | 9901 | -€11,037 | -€4,676 | +€6,362 | +57.6% |
| Financial income | 75/76B | €18,031 | €5,705 | -€12,325 | -68.4% |
| Recurring financial income | 75 | €18,031 | €5,705 | -€12,325 | -68.4% |
| Financial charges | 65/66B | €12,269 | €10,742 | -€1,527 | -12.4% |
| Recurring financial charges | 65 | €12,269 | €10,742 | -€1,527 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,276 | -€9,712 | -€4,437 | -84.1% |
| Income taxes | 67/77 | €575 | €803 | +€228 | +39.6% |
| Profit (loss) for the period | 9904 | -€5,851 | -€10,516 | -€4,665 | -79.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,851 | -€10,516 | -€4,665 | -79.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.