GOA: 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.
GOA
Largest movements
- Receivables within one year +€103,443
up €103,443 (+165.3%), from €62,586 to €166,028
of which Other amounts receivable: +€105,699
- Cash -€21,530
down €21,530 (-14.8%), from €145,773 to €124,242
mainly Receivables within one year (-€103,443) and Contributions, distributions and other (-€14,118)
- Tangible fixed assets +€4,270
up €4,270 (+217.6%), from €1,962 to €6,232
of which Other tangible fixed assets: +€4,270
- Reserves +€77,851
up €77,851 (+37.7%), from €206,304 to €284,156
- Tax, wage and social debts +€8,545
up €8,545 (+794.3%), from €1,076 to €9,620
- Gross operating margin +€13,475
up €13,475 (+12.1%), from €111,252 to €124,727
- Taxes +€3,427
up €3,427 (+16.3%), from €21,076 to €24,503
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.
Cash bridge derived
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 | €211,140 | €297,322 | +€86,182 | +40.8% |
| Fixed assets | 21/28 | €1,962 | €6,232 | +€4,270 | +217.6% |
| Tangible fixed assets | 22/27 | €1,962 | €6,232 | +€4,270 | +217.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Other tangible fixed assets | 26 | €1,962 | €6,232 | +€4,270 | +217.6% |
| Current assets | 29/58 | €209,178 | €291,090 | +€81,912 | +39.2% |
| Amounts receivable within one year | 40/41 | €62,586 | €166,028 | +€103,443 | +165.3% |
| Trade receivables | 40 | €24,506 | €22,250 | -€2,256 | -9.2% |
| Other amounts receivable | 41 | €38,079 | €143,779 | +€105,699 | +277.6% |
| Cash at bank and in hand | 54/58 | €145,773 | €124,242 | -€21,530 | -14.8% |
| Deferred charges and accrued income | 490/1 | €819 | €819 | = | 0.0% |
| Total equity and liabilities | 10/49 | €211,140 | €297,322 | +€86,182 | +40.8% |
| Equity | 10/15 | €208,304 | €286,156 | +€77,851 | +37.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €206,304 | €284,156 | +€77,851 | +37.7% |
| Distributable reserves | 133 | €206,304 | €284,156 | +€77,851 | +37.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,836 | €11,167 | +€8,331 | +293.8% |
| Amounts payable within one year | 42/48 | €2,836 | €11,167 | +€8,331 | +293.8% |
| Trade debts | 44 | €218 | €190 | -€29 | -13.2% |
| Suppliers | 440/4 | €218 | €190 | -€29 | -13.2% |
| Taxes, remuneration and social security | 45 | €1,076 | €9,620 | +€8,545 | +794.3% |
| Taxes | 450/3 | €1,076 | €9,620 | +€8,545 | +794.3% |
| Other amounts payable | 47/48 | €1,542 | €1,357 | -€185 | -12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €378 | €609 | +€231 | +61.3% |
| Other operating charges | 640/8 | €6,365 | €5,686 | -€679 | -10.7% |
| Gross operating margin | 9900 | €111,252 | €124,727 | +€13,475 | +12.1% |
| Operating profit (loss) | 9901 | €104,509 | €118,432 | +€13,923 | +13.3% |
| Financial income | 75/76B | €7 | €4 | -€4 | -49.2% |
| Recurring financial income | 75 | €7 | €4 | -€4 | -49.2% |
| Financial charges | 65/66B | €2,454 | €1,964 | -€490 | -20.0% |
| Recurring financial charges | 65 | €2,454 | €1,964 | -€490 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €102,062 | €116,472 | +€14,410 | +14.1% |
| Income taxes | 67/77 | €21,076 | €24,503 | +€3,427 | +16.3% |
| Profit (loss) for the period | 9904 | €80,986 | €91,969 | +€10,983 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,986 | €91,969 | +€10,983 | +13.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.