GOCAL: 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.
GOCAL
Largest movements
- Cash +€53,524
up €53,524 (+16.1%), from €331,590 to €385,114
mainly Net result for the year (+€46,051) and Depreciation (+€10,835)
- Tangible fixed assets -€10,835
down €10,835 (-34.5%), from €31,450 to €20,615
of which Furniture and vehicles: -€10,319
- Reserves +€46,051
up €46,051 (+18.0%), from €255,199 to €301,250
- Gross operating margin -€10,220
down €10,220 (-12.4%), from €82,214 to €71,995
- Taxes -€2,691
down €2,691 (-13.3%), from €20,217 to €17,526
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 | €391,129 | €438,287 | +€47,158 | +12.1% |
| Fixed assets | 21/28 | €33,400 | €22,565 | -€10,835 | -32.4% |
| Tangible fixed assets | 22/27 | €31,450 | €20,615 | -€10,835 | -34.5% |
| Furniture and vehicles | 24 | €29,997 | €19,678 | -€10,319 | -34.4% |
| Other tangible fixed assets | 26 | €1,453 | €937 | -€515 | -35.5% |
| Financial fixed assets | 28 | €1,950 | €1,950 | = | 0.0% |
| Current assets | 29/58 | €357,730 | €415,722 | +€57,992 | +16.2% |
| Amounts receivable within one year | 40/41 | €24,868 | €25,879 | +€1,012 | +4.1% |
| Trade receivables | 40 | €20,572 | €21,328 | +€756 | +3.7% |
| Other amounts receivable | 41 | €4,296 | €4,552 | +€256 | +6.0% |
| Cash at bank and in hand | 54/58 | €331,590 | €385,114 | +€53,524 | +16.1% |
| Deferred charges and accrued income | 490/1 | €1,272 | €4,729 | +€3,457 | +272% |
| Total equity and liabilities | 10/49 | €391,129 | €438,287 | +€47,158 | +12.1% |
| Equity | 10/15 | €374,511 | €420,562 | +€46,051 | +12.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €255,199 | €301,250 | +€46,051 | +18.0% |
| Distributable reserves | 133 | €255,199 | €301,250 | +€46,051 | +18.0% |
| Profit (loss) carried forward | 14 | €100,712 | €100,712 | = | 0.0% |
| Amounts payable | 17/49 | €16,618 | €17,725 | +€1,107 | +6.7% |
| Amounts payable within one year | 42/48 | €16,618 | €17,725 | +€1,107 | +6.7% |
| Trade debts | 44 | €5,202 | €5,930 | +€728 | +14.0% |
| Suppliers | 440/4 | €5,202 | €5,930 | +€728 | +14.0% |
| Taxes, remuneration and social security | 45 | €8,936 | €9,315 | +€379 | +4.2% |
| Taxes | 450/3 | €7,386 | €7,765 | +€379 | +5.1% |
| Remuneration and social security | 454/9 | €1,550 | €1,550 | = | 0.0% |
| Other amounts payable | 47/48 | €2,480 | €2,480 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,835 | €10,835 | = | 0.0% |
| Other operating charges | 640/8 | €1,062 | €930 | -€132 | -12.5% |
| Gross operating margin | 9900 | €82,214 | €71,995 | -€10,220 | -12.4% |
| Operating profit (loss) | 9901 | €70,318 | €60,231 | -€10,087 | -14.3% |
| Financial income | 75/76B | €3,152 | €3,605 | +€453 | +14.4% |
| Recurring financial income | 75 | €3,152 | €3,605 | +€453 | +14.4% |
| Financial charges | 65/66B | €83 | €258 | +€176 | +212% |
| Recurring financial charges | 65 | €83 | €258 | +€176 | +212% |
| Profit (loss) for the period before taxes | 9903 | €73,387 | €63,577 | -€9,810 | -13.4% |
| Income taxes | 67/77 | €20,217 | €17,526 | -€2,691 | -13.3% |
| Profit (loss) for the period | 9904 | €53,169 | €46,051 | -€7,119 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €53,169 | €46,051 | -€7,119 | -13.4% |
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 23 October 2026 via checked.be.