GODAM: 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.
GODAM
Largest movements
- Cash +€141,764
up €141,764 (+10.2%), from €1.4m to €1.5m
mainly Other debts (+€826,515) and Net result for the year (+€282,382)
- Receivables within one year -€134,836
down €134,836 (-19.9%), from €678,515 to €543,678
- Stocks and contracts +€93,305
up €93,305 (+7.1%), from €1.3m to €1.4m
- Other debts +€826,515
up €826,515 (+80.7%), from €1.0m to €1.9m
- Reserves -€754,207
down €754,207 (-27.8%), from €2.7m to €2.0m
of which Distributable reserves: -€754,207
- Trade debts +€46,170
up €46,170 (+96.6%), from €47,783 to €93,953
- Gross operating margin +€181,298
up €181,298 (+41.8%), from €434,240 to €615,538
- Write-downs +€62,303
up €62,303, from -€1,348 to €60,955
- Staff costs +€29,517
up €29,517 (+49.0%), from €60,189 to €89,706
- Financial charges +€9,814
up €9,814 (+14.0%), from €70,171 to €79,985
- Depreciation -€6,620
down €6,620 (-9.6%), from €68,643 to €62,023
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 | €3,987,947 | €4,097,713 | +€109,766 | +2.8% |
| Fixed assets | 21/28 | €601,362 | €602,444 | +€1,081 | +0.2% |
| Tangible fixed assets | 22/27 | €557,042 | €558,123 | +€1,081 | +0.2% |
| Land and buildings | 22 | €428,668 | €412,301 | -€16,367 | -3.8% |
| Plant, machinery and equipment | 23 | €19,847 | €19,533 | -€315 | -1.6% |
| Furniture and vehicles | 24 | €107,049 | €83,435 | -€23,615 | -22.1% |
| Other tangible fixed assets | 26 | €1,478 | €42,855 | +€41,378 | +2800.1% |
| Financial fixed assets | 28 | €44,320 | €44,320 | = | 0.0% |
| Current assets | 29/58 | €3,386,585 | €3,495,269 | +€108,684 | +3.2% |
| Stocks and contracts in progress | 3 | €1,321,940 | €1,415,245 | +€93,305 | +7.1% |
| Stocks | 30/36 | €1,321,940 | €1,415,245 | +€93,305 | +7.1% |
| Amounts receivable within one year | 40/41 | €678,515 | €543,678 | -€134,836 | -19.9% |
| Trade receivables | 40 | €678,515 | €543,678 | -€134,836 | -19.9% |
| Cash at bank and in hand | 54/58 | €1,384,326 | €1,526,090 | +€141,764 | +10.2% |
| Deferred charges and accrued income | 490/1 | €1,803 | €10,255 | +€8,452 | +468.7% |
| Total equity and liabilities | 10/49 | €3,987,947 | €4,097,713 | +€109,766 | +2.8% |
| Equity | 10/15 | €2,831,957 | €2,077,750 | -€754,207 | -26.6% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €2,713,357 | €1,959,150 | -€754,207 | -27.8% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €2,713,357 | €1,959,150 | -€754,207 | -27.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,155,990 | €2,019,963 | +€863,973 | +74.7% |
| Amounts payable within one year | 42/48 | €1,149,436 | €2,019,963 | +€870,526 | +75.7% |
| Trade debts | 44 | €47,783 | €93,953 | +€46,170 | +96.6% |
| Suppliers | 440/4 | €47,783 | €93,953 | +€46,170 | +96.6% |
| Advances received on contracts in progress | 46 | €2,163 | €5,775 | +€3,612 | +166.9% |
| Taxes, remuneration and social security | 45 | €74,676 | €68,906 | -€5,770 | -7.7% |
| Taxes | 450/3 | €66,419 | €56,557 | -€9,862 | -14.8% |
| Remuneration and social security | 454/9 | €8,258 | €12,350 | +€4,092 | +49.6% |
| Other amounts payable | 47/48 | €1,024,814 | €1,851,329 | +€826,515 | +80.7% |
| Accrued charges and deferred income | 492/3 | €6,554 | €0 | -€6,554 | -100.0% |
| Non-recurring operating income | 76A | €5,401 | €0 | -€5,401 | -100.0% |
| Remuneration, social security and pensions | 62 | €60,189 | €89,706 | +€29,517 | +49.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,643 | €62,023 | -€6,620 | -9.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,348 | €60,955 | +€62,303 | |
| Other operating charges | 640/8 | €16,409 | €16,450 | +€41 | +0.3% |
| Gross operating margin | 9900 | €434,240 | €615,538 | +€181,298 | +41.8% |
| Operating profit (loss) | 9901 | €290,346 | €386,404 | +€96,058 | +33.1% |
| Financial income | 75/76B | €99,183 | €102,062 | +€2,879 | +2.9% |
| Recurring financial income | 75 | €99,183 | €102,062 | +€2,879 | +2.9% |
| Financial charges | 65/66B | €70,171 | €79,985 | +€9,814 | +14.0% |
| Recurring financial charges | 65 | €70,171 | €79,985 | +€9,814 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €319,358 | €408,480 | +€89,122 | +27.9% |
| Income taxes | 67/77 | €131,205 | €126,099 | -€5,107 | -3.9% |
| Profit (loss) for the period | 9904 | €188,152 | €282,382 | +€94,229 | +50.1% |
| Transfer from tax-exempt reserves | 789 | €105,250 | €0 | -€105,250 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €293,402 | €282,382 | -€11,021 | -3.8% |
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.