DIRK VAN GOETHEM: 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.
DIRK VAN GOETHEM
Largest movements
- Receivables after one year -€8,249
down €8,249 (-15.4%), from €53,642 to €45,393
- Debts after one year -€121,918
down €121,918 (-72.1%), from €169,109 to €47,192
- Reserves +€79,285
up €79,285 (+43.1%), from €183,765 to €263,050
- Current portion of long-term debt +€26,754
up €26,754 (+55.8%), from €47,970 to €74,724
- Tax, wage and social debts +€19,169
up €19,169 (+69.7%), from €27,495 to €46,664
of which Taxes: +€19,169
- Trade debts -€14,636
down €14,636 (-82.9%), from €17,657 to €3,022
- Financial income +€49,975
up €49,975 (+2,372%), from €2,107 to €52,081
- Gross operating margin -€43,747
down €43,747 (-39.9%), from €109,701 to €65,954
- Taxes -€6,250
down €6,250 (-22.5%), from €27,825 to €21,576
- Financial charges -€4,351
down €4,351 (-23.4%), from €18,594 to €14,243
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 | €470,786 | €458,967 | -€11,818 | -2.5% |
| Fixed assets | 21/28 | €411,978 | €410,937 | -€1,041 | -0.3% |
| Tangible fixed assets | 22/27 | €1,041 | €0 | -€1,041 | -100% |
| Furniture and vehicles | 24 | €1,041 | €0 | -€1,041 | -100% |
| Financial fixed assets | 28 | €410,937 | €410,937 | = | 0.0% |
| Current assets | 29/58 | €58,808 | €48,030 | -€10,777 | -18.3% |
| Amounts receivable after more than one year | 29 | €53,642 | €45,393 | -€8,249 | -15.4% |
| Other amounts receivable | 291 | €53,642 | €45,393 | -€8,249 | -15.4% |
| Amounts receivable within one year | 40/41 | €721 | €537 | -€183 | -25.5% |
| Trade receivables | 40 | €721 | €537 | -€183 | -25.5% |
| Cash at bank and in hand | 54/58 | €1,500 | €1,000 | -€500 | -33.3% |
| Deferred charges and accrued income | 490/1 | €2,945 | €1,100 | -€1,845 | -62.6% |
| Total equity and liabilities | 10/49 | €470,786 | €458,967 | -€11,818 | -2.5% |
| Equity | 10/15 | €196,165 | €275,450 | +€79,285 | +40.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €183,765 | €263,050 | +€79,285 | +43.1% |
| Distributable reserves | 133 | €183,765 | €263,050 | +€79,285 | +43.1% |
| Amounts payable | 17/49 | €274,620 | €183,517 | -€91,103 | -33.2% |
| Amounts payable after more than one year | 17 | €169,109 | €47,192 | -€121,918 | -72.1% |
| Financial debts | 170/4 | €169,109 | €47,192 | -€121,918 | -72.1% |
| Amounts payable within one year | 42/48 | €105,511 | €136,325 | +€30,814 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €47,970 | €74,724 | +€26,754 | +55.8% |
| Financial debts | 43 | €12,389 | €11,609 | -€780 | -6.3% |
| Credit institutions | 430/8 | €12,389 | €11,609 | -€780 | -6.3% |
| Trade debts | 44 | €17,657 | €3,022 | -€14,636 | -82.9% |
| Suppliers | 440/4 | €17,657 | €3,022 | -€14,636 | -82.9% |
| Taxes, remuneration and social security | 45 | €27,495 | €46,664 | +€19,169 | +69.7% |
| Taxes | 450/3 | €27,495 | €46,664 | +€19,169 | +69.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €306 | +€306 | |
| Remuneration, social security and pensions | 62 | - | -€84 | -€84 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22 | €0 | -€22 | -100% |
| Other operating charges | 640/8 | €2,057 | €1,974 | -€83 | -4.0% |
| Non-recurring operating charges | 66A | €496 | €1,041 | +€546 | +110% |
| Gross operating margin | 9900 | €109,701 | €65,954 | -€43,747 | -39.9% |
| Operating profit (loss) | 9901 | €107,126 | €63,023 | -€44,104 | -41.2% |
| Financial income | 75/76B | €2,107 | €52,081 | +€49,975 | +2,372% |
| Recurring financial income | 75 | €2,107 | €52,081 | +€49,975 | +2,372% |
| Financial charges | 65/66B | €18,594 | €14,243 | -€4,351 | -23.4% |
| Recurring financial charges | 65 | €18,594 | €14,243 | -€4,351 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €90,639 | €100,861 | +€10,221 | +11.3% |
| Income taxes | 67/77 | €27,825 | €21,576 | -€6,250 | -22.5% |
| Profit (loss) for the period | 9904 | €62,814 | €79,285 | +€16,471 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €62,814 | €79,285 | +€16,471 | +26.2% |
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 21 October 2026 via checked.be.