GoaX: 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.
GoaX
Largest movements
- Receivables within one year +€21,065
up €21,065 (+12.1%), from €173,800 to €194,865
of which Trade receivables: +€13,356
- Cash +€6,140
up €6,140 (+33.3%), from €18,444 to €24,584
mainly Other debts (+€45,341) and Debts after one year (+€7,661)
- Tangible fixed assets +€4,105
up €4,105 (+43.2%), from €9,505 to €13,610
of which Furniture and vehicles: +€5,423
- Other debts +€45,341
up €45,341 (+33.9%), from €133,801 to €179,143
- Reserves -€29,903
down €29,903 (-68.2%), from €43,865 to €13,961
- Debts after one year +€7,661
up €7,661 (+23.2%), from €33,000 to €40,661
of which Financial debts: +€7,661
- Tax, wage and social debts +€5,515
up €5,515 (+109.2%), from €5,049 to €10,565
of which Taxes: +€8,540
- Current portion of long-term debt +€4,472
new in 2025: €4,472
- Gross operating margin +€16,632
up €16,632 (+38.6%), from -€43,111 to -€26,479
- Financial charges +€4,297
up €4,297, from -€2,516 to €1,781
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 | €250,178 | €282,830 | +€32,652 | +13.1% |
| Fixed assets | 21/28 | €16,305 | €20,885 | +€4,580 | +28.1% |
| Tangible fixed assets | 22/27 | €9,505 | €13,610 | +€4,105 | +43.2% |
| Plant, machinery and equipment | 23 | €329 | €177 | -€151 | -46.0% |
| Furniture and vehicles | 24 | €224 | €5,646 | +€5,423 | +2425.9% |
| Other tangible fixed assets | 26 | €8,953 | €7,787 | -€1,166 | -13.0% |
| Financial fixed assets | 28 | €6,800 | €7,275 | +€475 | +7.0% |
| Current assets | 29/58 | €233,873 | €261,945 | +€28,072 | +12.0% |
| Amounts receivable within one year | 40/41 | €173,800 | €194,865 | +€21,065 | +12.1% |
| Trade receivables | 40 | €107,823 | €121,180 | +€13,356 | +12.4% |
| Other amounts receivable | 41 | €65,977 | €73,685 | +€7,708 | +11.7% |
| Current investments | 50/53 | €25,000 | €25,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,444 | €24,584 | +€6,140 | +33.3% |
| Deferred charges and accrued income | 490/1 | €16,629 | €17,496 | +€867 | +5.2% |
| Total equity and liabilities | 10/49 | €250,178 | €282,830 | +€32,652 | +13.1% |
| Equity | 10/15 | €67,065 | €35,546 | -€31,519 | -47.0% |
| Contributions | 10/11 | €23,200 | €23,200 | = | 0.0% |
| Reserves | 13 | €43,865 | €13,961 | -€29,903 | -68.2% |
| Distributable reserves | 133 | €43,865 | €13,961 | -€29,903 | -68.2% |
| Profit (loss) carried forward | 14 | - | -€1,616 | -€1,616 | |
| Amounts payable | 17/49 | €183,114 | €247,285 | +€64,171 | +35.0% |
| Amounts payable after more than one year | 17 | €33,000 | €40,661 | +€7,661 | +23.2% |
| Financial debts | 170/4 | - | €7,661 | +€7,661 | |
| Other amounts payable | 178/9 | €33,000 | €33,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €150,114 | €206,624 | +€56,510 | +37.6% |
| Current portion of amounts payable after more than one year | 42 | - | €4,472 | +€4,472 | |
| Financial debts | 43 | €8,383 | €12,150 | +€3,767 | +44.9% |
| Credit institutions | 430/8 | €8,383 | €12,150 | +€3,767 | +44.9% |
| Trade debts | 44 | €2,880 | €294 | -€2,585 | -89.8% |
| Suppliers | 440/4 | €2,880 | €294 | -€2,585 | -89.8% |
| Taxes, remuneration and social security | 45 | €5,049 | €10,565 | +€5,515 | +109.2% |
| Taxes | 450/3 | €2,024 | €10,565 | +€8,540 | +421.9% |
| Remuneration and social security | 454/9 | €3,025 | €0 | -€3,025 | -100.0% |
| Other amounts payable | 47/48 | €133,801 | €179,143 | +€45,341 | +33.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,675 | €1,645 | -€29 | -1.8% |
| Other operating charges | 640/8 | €1,460 | €1,580 | +€121 | +8.3% |
| Non-recurring operating charges | 66A | €63 | €0 | -€63 | -100.0% |
| Gross operating margin | 9900 | -€43,111 | -€26,479 | +€16,632 | +38.6% |
| Operating profit (loss) | 9901 | -€46,308 | -€29,704 | +€16,604 | +35.9% |
| Financial income | 75/76B | €289 | €405 | +€116 | +40.0% |
| Recurring financial income | 75 | €289 | €405 | +€116 | +40.0% |
| Financial charges | 65/66B | -€2,516 | €1,781 | +€4,297 | |
| Recurring financial charges | 65 | -€2,516 | €1,781 | +€4,297 | |
| Profit (loss) for the period before taxes | 9903 | -€43,503 | -€31,080 | +€12,423 | +28.6% |
| Income taxes | 67/77 | €394 | €439 | +€45 | +11.3% |
| Profit (loss) for the period | 9904 | -€43,897 | -€31,519 | +€12,378 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,897 | -€31,519 | +€12,378 | +28.2% |
Source: filed annual accounts (NBB), fiscal 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 October 2026 via checked.be.