HET GULDEN PEERDT: 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.
HET GULDEN PEERDT
Largest movements
- Cash +€49,705
up €49,705 (+152%), from €32,800 to €82,505
mainly Net result for the year (+€48,959) and Tax, wage and social debts (+€8,858)
- Current investments +€8,005
up €8,005 (+613%), from €1,305 to €9,311
- Receivables within one year +€2,224
up €2,224 (+19.3%), from €11,537 to €13,761
of which Trade receivables: +€2,224
- Receivables after one year -€1,316
down €1,316 (-16.1%), from €8,149 to €6,834
- Reserves +€48,959
up €48,959 (+173%), from €28,246 to €77,205
of which Distributable reserves: +€48,959
- Tax, wage and social debts +€8,858
up €8,858 (+68.0%), from €13,020 to €21,878
of which Taxes: +€8,858
- Gross operating margin +€29,644
up €29,644 (+67.5%), from €43,885 to €73,529
- Taxes +€6,954
up €6,954 (+52.9%), from €13,142 to €20,096
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 | €61,526 | €119,531 | +€58,005 | +94.3% |
| Fixed assets | 21/28 | €7,529 | €6,905 | -€624 | -8.3% |
| Tangible fixed assets | 22/27 | €7,529 | €6,905 | -€624 | -8.3% |
| Furniture and vehicles | 24 | €6,647 | €4,654 | -€1,993 | -30.0% |
| Other tangible fixed assets | 26 | €882 | €2,251 | +€1,369 | +155% |
| Current assets | 29/58 | €53,997 | €112,625 | +€58,628 | +109% |
| Amounts receivable after more than one year | 29 | €8,149 | €6,834 | -€1,316 | -16.1% |
| Other amounts receivable | 291 | €8,149 | €6,834 | -€1,316 | -16.1% |
| Amounts receivable within one year | 40/41 | €11,537 | €13,761 | +€2,224 | +19.3% |
| Trade receivables | 40 | €11,537 | €13,761 | +€2,224 | +19.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €1,305 | €9,311 | +€8,005 | +613% |
| Cash at bank and in hand | 54/58 | €32,800 | €82,505 | +€49,705 | +152% |
| Deferred charges and accrued income | 490/1 | €206 | €216 | +€10 | +4.9% |
| Total equity and liabilities | 10/49 | €61,526 | €119,531 | +€58,005 | +94.3% |
| Equity | 10/15 | €48,464 | €97,422 | +€48,959 | +101% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €28,246 | €77,205 | +€48,959 | +173% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €26,386 | €75,345 | +€48,959 | +186% |
| Profit (loss) carried forward | 14 | €14,018 | €14,018 | = | 0.0% |
| Amounts payable | 17/49 | €13,062 | €22,108 | +€9,046 | +69.3% |
| Amounts payable within one year | 42/48 | €13,062 | €22,108 | +€9,046 | +69.3% |
| Trade debts | 44 | €42 | €230 | +€188 | +442% |
| Suppliers | 440/4 | €42 | €230 | +€188 | +442% |
| Taxes, remuneration and social security | 45 | €13,020 | €21,878 | +€8,858 | +68.0% |
| Taxes | 450/3 | €4,695 | €13,553 | +€8,858 | +189% |
| Remuneration and social security | 454/9 | €8,325 | €8,325 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,528 | €4,206 | +€677 | +19.2% |
| Other operating charges | 640/8 | €953 | €526 | -€427 | -44.8% |
| Gross operating margin | 9900 | €43,885 | €73,529 | +€29,644 | +67.5% |
| Operating profit (loss) | 9901 | €39,404 | €68,797 | +€29,393 | +74.6% |
| Financial income | 75/76B | €179 | €328 | +€148 | +82.7% |
| Recurring financial income | 75 | €179 | €328 | +€148 | +82.7% |
| Financial charges | 65/66B | €55 | €70 | +€15 | +27.9% |
| Recurring financial charges | 65 | €55 | €70 | +€15 | +27.9% |
| Profit (loss) for the period before taxes | 9903 | €39,528 | €69,054 | +€29,526 | +74.7% |
| Income taxes | 67/77 | €13,142 | €20,096 | +€6,954 | +52.9% |
| Profit (loss) for the period | 9904 | €26,386 | €48,959 | +€22,573 | +85.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,386 | €48,959 | +€22,573 | +85.5% |
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 29 October 2026 via checked.be.