Dr. Vincent Godschalx: 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.
Dr. Vincent Godschalx
Largest movements
- Cash +€51,432
up €51,432 (+303%), from €16,995 to €68,427
mainly Net result for the year (+€49,002) and Tax, wage and social debts (+€3,320)
- Receivables within one year +€722
up €722 (+83.6%), from €863 to €1,585
of which Other amounts receivable: +€1,319
- Reserves +€49,002
up €49,002 (+343%), from €14,300 to €63,302
- Tax, wage and social debts +€3,320
up €3,320 (+373%), from €890 to €4,210
- Gross operating margin +€44,386
up €44,386 (+244%), from €18,205 to €62,591
- Taxes +€9,431
up €9,431 (+242%), from €3,890 to €13,320
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 | €17,858 | €70,012 | +€52,154 | +292% |
| Current assets | 29/58 | €17,858 | €70,012 | +€52,154 | +292% |
| Amounts receivable within one year | 40/41 | €863 | €1,585 | +€722 | +83.6% |
| Trade receivables | 40 | €600 | €3 | -€597 | -99.5% |
| Other amounts receivable | 41 | €263 | €1,582 | +€1,319 | +502% |
| Cash at bank and in hand | 54/58 | €16,995 | €68,427 | +€51,432 | +303% |
| Total equity and liabilities | 10/49 | €17,858 | €70,012 | +€52,154 | +292% |
| Equity | 10/15 | €16,800 | €65,802 | +€49,002 | +292% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €14,300 | €63,302 | +€49,002 | +343% |
| Distributable reserves | 133 | €14,300 | €63,302 | +€49,002 | +343% |
| Amounts payable | 17/49 | €1,058 | €4,210 | +€3,152 | +298% |
| Amounts payable within one year | 42/48 | €1,058 | €4,210 | +€3,152 | +298% |
| Trade debts | 44 | €168 | €0 | -€168 | -100% |
| Suppliers | 440/4 | €168 | €0 | -€168 | -100% |
| Taxes, remuneration and social security | 45 | €890 | €4,210 | +€3,320 | +373% |
| Taxes | 450/3 | €890 | €4,210 | +€3,320 | +373% |
| Other operating charges | 640/8 | - | €276 | +€276 | |
| Gross operating margin | 9900 | €18,205 | €62,591 | +€44,386 | +244% |
| Operating profit (loss) | 9901 | €18,205 | €62,316 | +€44,111 | +242% |
| Financial income | 75/76B | €2 | €51 | +€49 | +2,054% |
| Recurring financial income | 75 | €2 | €51 | +€49 | +2,054% |
| Financial charges | 65/66B | €18 | €45 | +€27 | +157% |
| Recurring financial charges | 65 | €18 | €45 | +€27 | +157% |
| Profit (loss) for the period before taxes | 9903 | €18,190 | €62,322 | +€44,132 | +243% |
| Income taxes | 67/77 | €3,890 | €13,320 | +€9,431 | +242% |
| Profit (loss) for the period | 9904 | €14,300 | €49,002 | +€34,701 | +243% |
| Profit (loss) for the period to be appropriated | 9905 | €14,300 | €49,002 | +€34,701 | +243% |
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 1 November 2026 via checked.be.