M. Golden Stratton: 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.
M. Golden Stratton
Largest movements
- Tangible fixed assets +€83,560
up €83,560 (+447%), from €18,711 to €102,271
of which Furniture and vehicles: +€84,171
- Receivables within one year -€26,229
down €26,229 (-73.6%), from €35,619 to €9,390
of which Other amounts receivable: -€27,900
- Deferred charges and accrued income -€2,162
down €2,162 (-12.9%), from €16,746 to €14,583
- Debts after one year +€54,493
new in 2025: €54,493
- Other debts -€8,500
down €8,500 (-17.2%), from €49,300 to €40,800
- Current portion of long-term debt +€8,109
up €8,109 (+134%), from €6,032 to €14,141
- Tax, wage and social debts +€4,760
up €4,760 (+21.7%), from €21,973 to €26,732
of which Taxes: +€6,495
- Profit (loss) carried forward -€3,915
down €3,915 (-42.1%), from €9,297 to €5,382
- Gross operating margin -€13,450
down €13,450 (-10.2%), from €132,260 to €118,810
- Taxes -€5,207
down €5,207 (-23.2%), from €22,479 to €17,272
- Depreciation +€5,110
up €5,110 (+124%), from €4,115 to €9,224
- Staff costs +€1,955
up €1,955 (+4.5%), from €43,528 to €45,484
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 | €111,476 | €167,583 | +€56,107 | +50.3% |
| Fixed assets | 21/28 | €43,711 | €127,271 | +€83,560 | +191% |
| Tangible fixed assets | 22/27 | €18,711 | €102,271 | +€83,560 | +447% |
| Plant, machinery and equipment | 23 | - | €2,043 | +€2,043 | |
| Furniture and vehicles | 24 | €1,015 | €85,186 | +€84,171 | +8,294% |
| Other tangible fixed assets | 26 | €17,696 | €15,042 | -€2,654 | -15.0% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €67,765 | €40,312 | -€27,453 | -40.5% |
| Amounts receivable within one year | 40/41 | €35,619 | €9,390 | -€26,229 | -73.6% |
| Trade receivables | 40 | €835 | €2,505 | +€1,670 | +200% |
| Other amounts receivable | 41 | €34,784 | €6,885 | -€27,900 | -80.2% |
| Cash at bank and in hand | 54/58 | €15,401 | €16,339 | +€938 | +6.1% |
| Deferred charges and accrued income | 490/1 | €16,746 | €14,583 | -€2,162 | -12.9% |
| Total equity and liabilities | 10/49 | €111,476 | €167,583 | +€56,107 | +50.3% |
| Equity | 10/15 | €29,757 | €25,842 | -€3,915 | -13.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,297 | €5,382 | -€3,915 | -42.1% |
| Amounts payable | 17/49 | €81,719 | €141,741 | +€60,022 | +73.4% |
| Amounts payable after more than one year | 17 | - | €54,493 | +€54,493 | |
| Financial debts | 170/4 | - | €54,493 | +€54,493 | |
| Amounts payable within one year | 42/48 | €81,719 | €87,248 | +€5,529 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €6,032 | €14,141 | +€8,109 | +134% |
| Trade debts | 44 | €4,415 | €5,575 | +€1,160 | +26.3% |
| Suppliers | 440/4 | €4,415 | €5,575 | +€1,160 | +26.3% |
| Taxes, remuneration and social security | 45 | €21,973 | €26,732 | +€4,760 | +21.7% |
| Taxes | 450/3 | €13,179 | €19,673 | +€6,495 | +49.3% |
| Remuneration and social security | 454/9 | €8,794 | €7,059 | -€1,735 | -19.7% |
| Other amounts payable | 47/48 | €49,300 | €40,800 | -€8,500 | -17.2% |
| Remuneration, social security and pensions | 62 | €43,528 | €45,484 | +€1,955 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,115 | €9,224 | +€5,110 | +124% |
| Other operating charges | 640/8 | €637 | €484 | -€153 | -24.0% |
| Gross operating margin | 9900 | €132,260 | €118,810 | -€13,450 | -10.2% |
| Operating profit (loss) | 9901 | €83,980 | €63,619 | -€20,362 | -24.2% |
| Financial income | 75/76B | €16 | €17 | +€1 | +8.5% |
| Recurring financial income | 75 | €16 | €17 | +€1 | +8.5% |
| Financial charges | 65/66B | €1,226 | €1,556 | +€331 | +27.0% |
| Recurring financial charges | 65 | €1,226 | €1,556 | +€331 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €82,771 | €62,080 | -€20,691 | -25.0% |
| Income taxes | 67/77 | €22,479 | €17,272 | -€5,207 | -23.2% |
| Profit (loss) for the period | 9904 | €60,292 | €44,808 | -€15,484 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €60,292 | €44,808 | -€15,484 | -25.7% |
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 28 October 2026 via checked.be.