Dr. Wouter Goovaerts: 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. Wouter Goovaerts
Largest movements
- Receivables within one year +€11,466
up €11,466 (+57.2%), from €20,053 to €31,520
- Cash -€8,460
down €8,460 (-24.0%), from €35,227 to €26,767
mainly Contributions, distributions and other (-€47,000) and Receivables within one year (-€11,466)
- Tangible fixed assets +€2,936
up €2,936 (+134%), from €2,184 to €5,120
of which Furniture and vehicles: +€3,373
- Other debts +€39,875
up €39,875 (+2,282%), from €1,748 to €41,623
- Reserves -€34,001
down €34,001 (-96.2%), from €35,357 to €1,355
- Gross operating margin -€23,283
down €23,283 (-51.5%), from €45,169 to €21,886
- Taxes -€5,159
down €5,159 (-59.4%), from €8,693 to €3,534
- Depreciation +€1,878
up €1,878 (+159%), from €1,182 to €3,060
- Other operating charges +€1,237
up €1,237 (+151%), from €819 to €2,056
- Financial charges -€544
down €544 (-69.4%), from €784 to €240
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 | €57,464 | €63,407 | +€5,943 | +10.3% |
| Fixed assets | 21/28 | €2,184 | €5,120 | +€2,936 | +134% |
| Tangible fixed assets | 22/27 | €2,184 | €5,120 | +€2,936 | +134% |
| Plant, machinery and equipment | 23 | €1,894 | €1,457 | -€437 | -23.1% |
| Furniture and vehicles | 24 | €290 | €3,663 | +€3,373 | +1,161% |
| Current assets | 29/58 | €55,280 | €58,287 | +€3,007 | +5.4% |
| Amounts receivable within one year | 40/41 | €20,053 | €31,520 | +€11,466 | +57.2% |
| Other amounts receivable | 41 | €20,053 | €31,520 | +€11,466 | +57.2% |
| Cash at bank and in hand | 54/58 | €35,227 | €26,767 | -€8,460 | -24.0% |
| Total equity and liabilities | 10/49 | €57,464 | €63,407 | +€5,943 | +10.3% |
| Equity | 10/15 | €53,957 | €19,955 | -€34,001 | -63.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €35,357 | €1,355 | -€34,001 | -96.2% |
| Distributable reserves | 133 | €35,357 | €1,355 | -€34,001 | -96.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,508 | €43,451 | +€39,944 | +1,139% |
| Amounts payable within one year | 42/48 | €3,508 | €43,451 | +€39,944 | +1,139% |
| Trade debts | 44 | €1,585 | €1,783 | +€198 | +12.5% |
| Suppliers | 440/4 | €1,585 | €1,783 | +€198 | +12.5% |
| Taxes, remuneration and social security | 45 | €175 | €46 | -€129 | -73.8% |
| Taxes | 450/3 | €175 | €46 | -€129 | -73.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,748 | €41,623 | +€39,875 | +2,282% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,182 | €3,060 | +€1,878 | +159% |
| Other operating charges | 640/8 | €819 | €2,056 | +€1,237 | +151% |
| Gross operating margin | 9900 | €45,169 | €21,886 | -€23,283 | -51.5% |
| Operating profit (loss) | 9901 | €43,168 | €16,771 | -€26,398 | -61.2% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €784 | €240 | -€544 | -69.4% |
| Recurring financial charges | 65 | €784 | €240 | -€544 | -69.4% |
| Profit (loss) for the period before taxes | 9903 | €42,385 | €16,532 | -€25,852 | -61.0% |
| Income taxes | 67/77 | €8,693 | €3,534 | -€5,159 | -59.4% |
| Profit (loss) for the period | 9904 | €33,692 | €12,999 | -€20,693 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,692 | €12,999 | -€20,693 | -61.4% |
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 25 October 2026 via checked.be.