PROFESSIONAL GOLF MANAGEMENT: 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.
PROFESSIONAL GOLF MANAGEMENT
Largest movements
- Receivables after one year -€24,028
down €24,028 (-78.0%), from €30,805 to €6,777
- Cash -€5,908
down €5,908 (-1.8%), from €328,984 to €323,075
mainly Net result for the year (-€34,800) and Receivables within one year (-€5,806)
- Receivables within one year +€5,806
up €5,806 (+49.2%), from €11,805 to €17,611
of which Trade receivables: +€7,852
- Profit (loss) carried forward -€34,800
down €34,800 (-120%), from -€28,888 to -€63,688
- Other debts +€10,709
up €10,709 (+18.4%), from €58,084 to €68,793
- Gross operating margin +€72,890
up €72,890 (+70.9%), from -€102,809 to -€29,919
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 | €391,373 | €368,340 | -€23,033 | -5.9% |
| Fixed assets | 21/28 | €11,572 | €11,572 | = | 0.0% |
| Financial fixed assets | 28 | €11,572 | €11,572 | = | 0.0% |
| Current assets | 29/58 | €379,801 | €356,768 | -€23,033 | -6.1% |
| Amounts receivable after more than one year | 29 | €30,805 | €6,777 | -€24,028 | -78.0% |
| Other amounts receivable | 291 | €30,805 | €6,777 | -€24,028 | -78.0% |
| Amounts receivable within one year | 40/41 | €11,805 | €17,611 | +€5,806 | +49.2% |
| Trade receivables | 40 | €9,016 | €16,868 | +€7,852 | +87.1% |
| Other amounts receivable | 41 | €2,789 | €743 | -€2,046 | -73.4% |
| Cash at bank and in hand | 54/58 | €328,984 | €323,075 | -€5,908 | -1.8% |
| Deferred charges and accrued income | 490/1 | €8,208 | €9,306 | +€1,098 | +13.4% |
| Total equity and liabilities | 10/49 | €391,373 | €368,340 | -€23,033 | -5.9% |
| Equity | 10/15 | €312,753 | €277,953 | -€34,800 | -11.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €323,049 | €323,049 | = | 0.0% |
| Distributable reserves | 133 | €323,049 | €323,049 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,888 | -€63,688 | -€34,800 | -120% |
| Amounts payable | 17/49 | €78,620 | €90,387 | +€11,767 | +15.0% |
| Amounts payable within one year | 42/48 | €74,740 | €86,345 | +€11,605 | +15.5% |
| Trade debts | 44 | €16,225 | €16,961 | +€736 | +4.5% |
| Suppliers | 440/4 | €16,225 | €16,961 | +€736 | +4.5% |
| Taxes, remuneration and social security | 45 | €431 | €591 | +€160 | +37.0% |
| Taxes | 450/3 | €431 | €591 | +€160 | +37.0% |
| Other amounts payable | 47/48 | €58,084 | €68,793 | +€10,709 | +18.4% |
| Accrued charges and deferred income | 492/3 | €3,880 | €4,042 | +€162 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €535 | €573 | +€38 | +7.0% |
| Gross operating margin | 9900 | -€102,809 | -€29,919 | +€72,890 | +70.9% |
| Operating profit (loss) | 9901 | -€103,344 | -€30,492 | +€72,852 | +70.5% |
| Financial income | 75/76B | €1,257 | €1,249 | -€9 | -0.7% |
| Recurring financial income | 75 | €1,257 | €1,249 | -€9 | -0.7% |
| Financial charges | 65/66B | €4,611 | €5,557 | +€946 | +20.5% |
| Recurring financial charges | 65 | €4,611 | €5,557 | +€946 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | -€106,697 | -€34,800 | +€71,897 | +67.4% |
| Profit (loss) for the period | 9904 | -€106,697 | -€34,800 | +€71,897 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€106,697 | -€34,800 | +€71,897 | +67.4% |
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 23 October 2026 via checked.be.