DE SUTTER - GOETHALS: 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.
DE SUTTER - GOETHALS
Largest movements
- Receivables within one year -€299,929
down €299,929 (-20.6%), from €1.5m to €1.2m
of which Trade receivables: -€272,465
- Cash +€213,934
up €213,934 (+21.9%), from €975,092 to €1.2m
mainly Receivables within one year (+€299,929) and Accrued charges and deferred income (+€118,945)
- Tangible fixed assets +€68,217
up €68,217 (+442%), from €15,419 to €83,636
- Trade debts -€126,288
down €126,288 (-56.4%), from €224,001 to €97,713
- Accrued charges and deferred income +€118,945
up €118,945 (+23.1%), from €514,818 to €633,763
- Gross operating margin -€296,231
down €296,231 (-32.0%), from €924,523 to €628,292
- Write-downs +€12,214
up €12,214, from -€12,214 to €0
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 | €2,447,739 | €2,427,812 | -€19,927 | -0.8% |
| Fixed assets | 21/28 | €15,419 | €83,636 | +€68,217 | +442% |
| Tangible fixed assets | 22/27 | €15,419 | €83,636 | +€68,217 | +442% |
| Plant, machinery and equipment | 23 | €15,419 | €83,636 | +€68,217 | +442% |
| Current assets | 29/58 | €2,432,320 | €2,344,177 | -€88,144 | -3.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,452,832 | €1,152,903 | -€299,929 | -20.6% |
| Trade receivables | 40 | €1,403,486 | €1,131,020 | -€272,465 | -19.4% |
| Other amounts receivable | 41 | €49,347 | €21,883 | -€27,463 | -55.7% |
| Cash at bank and in hand | 54/58 | €975,092 | €1,189,026 | +€213,934 | +21.9% |
| Deferred charges and accrued income | 490/1 | €4,396 | €2,248 | -€2,148 | -48.9% |
| Total equity and liabilities | 10/49 | €2,447,739 | €2,427,812 | -€19,927 | -0.8% |
| Equity | 10/15 | €1,606,979 | €1,618,096 | +€11,117 | +0.7% |
| Contributions | 10/11 | €23,929 | €23,929 | = | 0.0% |
| Reserves | 13 | €1,583,050 | €1,594,167 | +€11,117 | +0.7% |
| Distributable reserves | 133 | €1,583,050 | €1,594,167 | +€11,117 | +0.7% |
| Amounts payable | 17/49 | €840,760 | €809,716 | -€31,044 | -3.7% |
| Amounts payable within one year | 42/48 | €325,942 | €175,953 | -€149,989 | -46.0% |
| Trade debts | 44 | €224,001 | €97,713 | -€126,288 | -56.4% |
| Suppliers | 440/4 | €224,001 | €97,713 | -€126,288 | -56.4% |
| Taxes, remuneration and social security | 45 | €51,245 | €46,179 | -€5,066 | -9.9% |
| Taxes | 450/3 | €5,303 | €19,589 | +€14,286 | +269% |
| Remuneration and social security | 454/9 | €45,943 | €26,590 | -€19,352 | -42.1% |
| Other amounts payable | 47/48 | €50,696 | €32,061 | -€18,635 | -36.8% |
| Accrued charges and deferred income | 492/3 | €514,818 | €633,763 | +€118,945 | +23.1% |
| Remuneration, social security and pensions | 62 | €569,281 | €573,555 | +€4,273 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,634 | €7,364 | +€3,730 | +103% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€12,214 | €0 | +€12,214 | |
| Other operating charges | 640/8 | €33,084 | €38,344 | +€5,260 | +15.9% |
| Non-recurring operating charges | 66A | €2,848 | €1,106 | -€1,742 | -61.2% |
| Gross operating margin | 9900 | €924,523 | €628,292 | -€296,231 | -32.0% |
| Operating profit (loss) | 9901 | €327,890 | €7,924 | -€319,966 | -97.6% |
| Financial income | 75/76B | €2,407 | €4,233 | +€1,826 | +75.9% |
| Recurring financial income | 75 | €2,407 | €4,233 | +€1,826 | +75.9% |
| Financial charges | 65/66B | €997 | €1,040 | +€43 | +4.3% |
| Recurring financial charges | 65 | €997 | €1,040 | +€43 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €329,300 | €11,117 | -€318,183 | -96.6% |
| Profit (loss) for the period | 9904 | €329,300 | €11,117 | -€318,183 | -96.6% |
| Profit (loss) for the period to be appropriated | 9905 | €329,300 | €11,117 | -€318,183 | -96.6% |
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 14 October 2026 via checked.be.