GOCAR: 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.
GOCAR
Largest movements
- Tangible fixed assets +€148,569
up €148,569 (+825.3%), from €18,002 to €166,571
of which Furniture and vehicles: +€145,655
- Cash +€67,765
up €67,765 (+221.4%), from €30,613 to €98,378
mainly Debts after one year (+€148,678) and Depreciation (+€53,924)
- Receivables within one year -€19,248
down €19,248 (-43.7%), from €44,003 to €24,755
of which Trade receivables: -€20,301
- Debts after one year +€148,678
up €148,678 (+7240.8%), from €2,053 to €150,731
- Reserves +€41,638
new in 2025: €41,638
- Trade debts -€15,593
down €15,593 (-52.7%), from €29,609 to €14,016
- Provisions +€13,879
new in 2025: €13,879
- Profit (loss) carried forward +€9,970
up €9,970, from -€519 to €9,451
- Gross operating margin +€73,301
up €73,301 (+138.0%), from €53,107 to €126,408
- Depreciation +€36,984
up €36,984 (+218.3%), from €16,940 to €53,924
- Financial charges +€5,863
up €5,863 (+1040.7%), from €563 to €6,426
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 | €94,045 | €291,172 | +€197,126 | +209.6% |
| Fixed assets | 21/28 | €18,002 | €166,571 | +€148,569 | +825.3% |
| Tangible fixed assets | 22/27 | €18,002 | €166,571 | +€148,569 | +825.3% |
| Plant, machinery and equipment | 23 | €1,169 | €4,083 | +€2,914 | +249.2% |
| Furniture and vehicles | 24 | €16,833 | €162,488 | +€145,655 | +865.3% |
| Current assets | 29/58 | €76,043 | €124,601 | +€48,558 | +63.9% |
| Amounts receivable within one year | 40/41 | €44,003 | €24,755 | -€19,248 | -43.7% |
| Trade receivables | 40 | €43,088 | €22,787 | -€20,301 | -47.1% |
| Other amounts receivable | 41 | €915 | €1,968 | +€1,053 | +115.1% |
| Cash at bank and in hand | 54/58 | €30,613 | €98,378 | +€67,765 | +221.4% |
| Deferred charges and accrued income | 490/1 | €1,427 | €1,467 | +€40 | +2.8% |
| Total equity and liabilities | 10/49 | €94,045 | €291,172 | +€197,126 | +209.6% |
| Equity | 10/15 | €26,981 | €78,589 | +€51,608 | +191.3% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | - | €41,638 | +€41,638 | |
| Tax-exempt reserves | 132 | - | €41,638 | +€41,638 | |
| Profit (loss) carried forward | 14 | -€519 | €9,451 | +€9,970 | |
| Provisions and deferred taxes | 16 | - | €13,879 | +€13,879 | |
| Deferred taxes | 168 | - | €13,879 | +€13,879 | |
| Amounts payable | 17/49 | €67,064 | €198,703 | +€131,639 | +196.3% |
| Amounts payable after more than one year | 17 | €2,053 | €150,731 | +€148,678 | +7240.8% |
| Financial debts | 170/4 | €2,053 | €150,731 | +€148,678 | +7240.8% |
| Amounts payable within one year | 42/48 | €65,011 | €47,972 | -€17,039 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €29,657 | €28,212 | -€1,445 | -4.9% |
| Trade debts | 44 | €29,609 | €14,016 | -€15,593 | -52.7% |
| Suppliers | 440/4 | €29,609 | €14,016 | -€15,593 | -52.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,745 | €5,745 | = | 0.0% |
| Non-recurring operating income | 76A | - | €68,000 | +€68,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,940 | €53,924 | +€36,984 | +218.3% |
| Other operating charges | 640/8 | €1,028 | €571 | -€458 | -44.5% |
| Gross operating margin | 9900 | €53,107 | €126,408 | +€73,301 | +138.0% |
| Operating profit (loss) | 9901 | €35,139 | €71,913 | +€36,774 | +104.7% |
| Financial charges | 65/66B | €563 | €6,426 | +€5,863 | +1040.7% |
| Recurring financial charges | 65 | €563 | €6,426 | +€5,863 | +1040.7% |
| Profit (loss) for the period before taxes | 9903 | €34,576 | €65,488 | +€30,912 | +89.4% |
| Transfer from deferred taxes | 780 | - | €3,121 | +€3,121 | |
| Transfer to deferred taxes | 680 | - | €17,000 | +€17,000 | |
| Profit (loss) for the period | 9904 | €34,576 | €51,608 | +€17,032 | +49.3% |
| Transfer from tax-exempt reserves | 789 | - | €9,362 | +€9,362 | |
| Transfer to tax-exempt reserves | 689 | - | €51,000 | +€51,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,576 | €9,970 | -€24,606 | -71.2% |
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 8 October 2026 via checked.be.