Dr. Johan Van Goethem: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
Dr. Johan Van Goethem
Largest movements
- Current investments +€214,703
up €214,703 (+18.3%), from €1.2m to €1.4m
- Intangible fixed assets -€150,000
down €150,000 (-100%), from €150,000 to €0
- Receivables within one year +€88,920
up €88,920 (+27.0%), from €328,807 to €417,726
of which Trade receivables: +€55,617
- Tangible fixed assets +€57,446
up €57,446 (+39.5%), from €145,400 to €202,846
of which Furniture and vehicles: +€62,079
- Cash +€33,375
up €33,375 (+38.0%), from €87,806 to €121,181
mainly Net result for the year (+€394,678) and Depreciation (+€166,306)
- Reserves +€287,765
up €287,765 (+17.9%), from €1.6m to €1.9m
- Other debts -€44,164
down €44,164 (-17.6%), from €250,888 to €206,723
- Financial income -€96,361
down €96,361 (-80.5%), from €119,749 to €23,389
- Depreciation -€19,878
down €19,878 (-10.7%), from €186,184 to €166,306
- Gross operating margin +€11,788
up €11,788 (+1.6%), from €734,254 to €746,042
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,886,467 | €2,127,997 | +€241,530 | +12.8% |
| Fixed assets | 21/28 | €295,400 | €202,846 | -€92,554 | -31.3% |
| Intangible fixed assets | 21 | €150,000 | €0 | -€150,000 | -100% |
| Tangible fixed assets | 22/27 | €145,400 | €202,846 | +€57,446 | +39.5% |
| Land and buildings | 22 | €103,666 | €99,372 | -€4,295 | -4.1% |
| Plant, machinery and equipment | 23 | €2,472 | €2,133 | -€339 | -13.7% |
| Furniture and vehicles | 24 | €29,581 | €91,661 | +€62,079 | +210% |
| Assets under construction and advance payments | 27 | €9,680 | €9,680 | = | 0.0% |
| Current assets | 29/58 | €1,591,067 | €1,925,151 | +€334,084 | +21.0% |
| Amounts receivable within one year | 40/41 | €328,807 | €417,726 | +€88,920 | +27.0% |
| Trade receivables | 40 | €326,150 | €381,767 | +€55,617 | +17.1% |
| Other amounts receivable | 41 | €2,656 | €35,960 | +€33,303 | +1,254% |
| Current investments | 50/53 | €1,171,541 | €1,386,244 | +€214,703 | +18.3% |
| Cash at bank and in hand | 54/58 | €87,806 | €121,181 | +€33,375 | +38.0% |
| Deferred charges and accrued income | 490/1 | €2,914 | €0 | -€2,914 | -100% |
| Total equity and liabilities | 10/49 | €1,886,467 | €2,127,997 | +€241,530 | +12.8% |
| Equity | 10/15 | €1,622,502 | €1,910,267 | +€287,765 | +17.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,603,902 | €1,891,667 | +€287,765 | +17.9% |
| Distributable reserves | 133 | €1,603,902 | €1,891,667 | +€287,765 | +17.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €263,965 | €217,729 | -€46,235 | -17.5% |
| Amounts payable within one year | 42/48 | €263,965 | €217,729 | -€46,235 | -17.5% |
| Trade debts | 44 | €6,408 | €5,366 | -€1,042 | -16.3% |
| Suppliers | 440/4 | €6,408 | €5,366 | -€1,042 | -16.3% |
| Taxes, remuneration and social security | 45 | €6,669 | €5,640 | -€1,029 | -15.4% |
| Taxes | 450/3 | €6,669 | €5,640 | -€1,029 | -15.4% |
| Other amounts payable | 47/48 | €250,888 | €206,723 | -€44,164 | -17.6% |
| Non-recurring operating income | 76A | - | €464 | +€464 | |
| Remuneration, social security and pensions | 62 | €100 | €0 | -€100 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,184 | €166,306 | -€19,878 | -10.7% |
| Other operating charges | 640/8 | €3,445 | €3,411 | -€33 | -1.0% |
| Non-recurring operating charges | 66A | €1,276 | €0 | -€1,276 | -100% |
| Gross operating margin | 9900 | €734,254 | €746,042 | +€11,788 | +1.6% |
| Operating profit (loss) | 9901 | €543,250 | €576,325 | +€33,075 | +6.1% |
| Financial income | 75/76B | €119,749 | €23,389 | -€96,361 | -80.5% |
| Recurring financial income | 75 | €119,749 | €23,389 | -€96,361 | -80.5% |
| Financial charges | 65/66B | €23,352 | €21,601 | -€1,750 | -7.5% |
| Recurring financial charges | 65 | €23,352 | €21,601 | -€1,750 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €639,648 | €578,113 | -€61,535 | -9.6% |
| Income taxes | 67/77 | €178,466 | €183,435 | +€4,969 | +2.8% |
| Profit (loss) for the period | 9904 | €461,182 | €394,678 | -€66,504 | -14.4% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €461,182 | €394,678 | -€66,504 | -14.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.