Dr.E.Govaerts: what changed
Two fiscal 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.
Dr.E.Govaerts
Largest movements
- Cash +€66,906
up €66,906 (+46.1%), from €145,096 to €212,001
mainly Net result for the year (+€155,818) and Depreciation (+€34,374)
- Tangible fixed assets +€55,874
up €55,874 (+13.4%), from €415,540 to €471,414
of which Plant, machinery and equipment: +€62,324
- Receivables within one year +€38,362
up €38,362 (+16.4%), from €233,406 to €271,767
of which Other amounts receivable: +€21,328
- Reserves +€155,818
up €155,818 (+28.4%), from €549,558 to €705,376
of which Distributable reserves: +€157,673
- Tax, wage and social debts +€26,712
up €26,712 (+98.6%), from €27,089 to €53,801
- Debts after one year -€12,855
down €12,855 (-15.3%), from €83,789 to €70,934
- Gross operating margin +€70,252
up €70,252 (+31.9%), from €220,157 to €290,409
- Taxes +€22,174
up €22,174 (+48.9%), from €45,318 to €67,492
- Depreciation -€21,781
down €21,781 (-38.8%), from €56,155 to €34,374
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €796,908 | €957,119 | +€160,211 | +20.1% |
| Fixed assets | 21/28 | €415,540 | €471,414 | +€55,874 | +13.4% |
| Tangible fixed assets | 22/27 | €415,540 | €471,414 | +€55,874 | +13.4% |
| Land and buildings | 22 | €410,632 | €366,139 | -€44,493 | -10.8% |
| Plant, machinery and equipment | 23 | €2,927 | €65,251 | +€62,324 | +2129.0% |
| Furniture and vehicles | 24 | €1,980 | €40,024 | +€38,043 | +1920.9% |
| Current assets | 29/58 | €381,368 | €485,705 | +€104,337 | +27.4% |
| Amounts receivable within one year | 40/41 | €233,406 | €271,767 | +€38,362 | +16.4% |
| Trade receivables | 40 | €95,343 | €112,376 | +€17,034 | +17.9% |
| Other amounts receivable | 41 | €138,063 | €159,391 | +€21,328 | +15.4% |
| Cash at bank and in hand | 54/58 | €145,096 | €212,001 | +€66,906 | +46.1% |
| Deferred charges and accrued income | 490/1 | €2,867 | €1,936 | -€931 | -32.5% |
| Total equity and liabilities | 10/49 | €796,908 | €957,119 | +€160,211 | +20.1% |
| Equity | 10/15 | €555,758 | €711,576 | +€155,818 | +28.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €549,558 | €705,376 | +€155,818 | +28.4% |
| Non-distributable reserves | 130/1 | €1,855 | €0 | -€1,855 | -100.0% |
| Reserves not available under the articles | 1311 | €1,855 | €0 | -€1,855 | -100.0% |
| Distributable reserves | 133 | €547,703 | €705,376 | +€157,673 | +28.8% |
| Amounts payable | 17/49 | €241,151 | €245,544 | +€4,393 | +1.8% |
| Amounts payable after more than one year | 17 | €83,789 | €70,934 | -€12,855 | -15.3% |
| Financial debts | 170/4 | €83,789 | €70,934 | -€12,855 | -15.3% |
| Amounts payable within one year | 42/48 | €155,457 | €172,704 | +€17,247 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €57,424 | €50,053 | -€7,371 | -12.8% |
| Financial debts | 43 | €8,333 | €11,832 | +€3,499 | +42.0% |
| Credit institutions | 430/8 | €8,333 | €11,832 | +€3,499 | +42.0% |
| Trade debts | 44 | €948 | €215 | -€732 | -77.3% |
| Suppliers | 440/4 | €948 | €215 | -€732 | -77.3% |
| Taxes, remuneration and social security | 45 | €27,089 | €53,801 | +€26,712 | +98.6% |
| Taxes | 450/3 | €27,089 | €53,801 | +€26,712 | +98.6% |
| Other amounts payable | 47/48 | €61,663 | €56,802 | -€4,861 | -7.9% |
| Accrued charges and deferred income | 492/3 | €1,905 | €1,905 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,155 | €34,374 | -€21,781 | -38.8% |
| Other operating charges | 640/8 | €5,609 | €5,999 | +€390 | +7.0% |
| Non-recurring operating charges | 66A | - | €23,151 | +€23,151 | |
| Gross operating margin | 9900 | €220,157 | €290,409 | +€70,252 | +31.9% |
| Operating profit (loss) | 9901 | €158,393 | €226,885 | +€68,492 | +43.2% |
| Financial income | 75/76B | €188 | €840 | +€652 | +346.1% |
| Recurring financial income | 75 | €188 | €840 | +€652 | +346.1% |
| Financial charges | 65/66B | €4,256 | €4,415 | +€160 | +3.7% |
| Recurring financial charges | 65 | €4,256 | €4,415 | +€160 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €154,325 | €223,310 | +€68,985 | +44.7% |
| Income taxes | 67/77 | €45,318 | €67,492 | +€22,174 | +48.9% |
| Profit (loss) for the period | 9904 | €109,007 | €155,818 | +€46,811 | +42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €109,007 | €155,818 | +€46,811 | +42.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.