GODARD: 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.
GODARD
Largest movements
- Receivables within one year -€29,404
down €29,404 (-58.4%), from €50,309 to €20,905
of which Trade receivables: -€31,056
- Cash +€19,409
up €19,409 (+146%), from €13,329 to €32,738
mainly Net result for the year (+€35,803) and Receivables within one year (+€29,404)
- Debts after one year -€29,079
down €29,079 (-24.6%), from €118,278 to €89,199
- Profit (loss) carried forward +€10,803
up €10,803 (+9.1%), from €118,876 to €129,679
- Gross operating margin +€8,098
up €8,098 (+12.8%), from €63,196 to €71,294
- Other operating charges -€6,424
down €6,424 (-84.4%), from €7,612 to €1,188
- Taxes +€5,007
up €5,007 (+78.0%), from €6,418 to €11,425
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 | €385,608 | €372,766 | -€12,842 | -3.3% |
| Fixed assets | 21/28 | €319,664 | €318,714 | -€950 | -0.3% |
| Tangible fixed assets | 22/27 | €4,301 | €3,351 | -€950 | -22.1% |
| Furniture and vehicles | 24 | €2,159 | €1,559 | -€600 | -27.8% |
| Other tangible fixed assets | 26 | €2,142 | €1,792 | -€350 | -16.3% |
| Financial fixed assets | 28 | €315,363 | €315,363 | = | 0.0% |
| Current assets | 29/58 | €65,944 | €54,052 | -€11,892 | -18.0% |
| Amounts receivable within one year | 40/41 | €50,309 | €20,905 | -€29,404 | -58.4% |
| Trade receivables | 40 | €49,082 | €18,027 | -€31,056 | -63.3% |
| Other amounts receivable | 41 | €1,227 | €2,879 | +€1,652 | +135% |
| Cash at bank and in hand | 54/58 | €13,329 | €32,738 | +€19,409 | +146% |
| Deferred charges and accrued income | 490/1 | €2,305 | €408 | -€1,897 | -82.3% |
| Total equity and liabilities | 10/49 | €385,608 | €372,766 | -€12,842 | -3.3% |
| Equity | 10/15 | €121,376 | €132,179 | +€10,803 | +8.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,876 | €129,679 | +€10,803 | +9.1% |
| Amounts payable | 17/49 | €264,232 | €240,587 | -€23,645 | -8.9% |
| Amounts payable after more than one year | 17 | €118,278 | €89,199 | -€29,079 | -24.6% |
| Financial debts | 170/4 | €118,278 | €89,199 | -€29,079 | -24.6% |
| Amounts payable within one year | 42/48 | €145,954 | €151,388 | +€5,434 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €33,369 | €31,684 | -€1,685 | -5.0% |
| Trade debts | 44 | €14,095 | €15,352 | +€1,257 | +8.9% |
| Suppliers | 440/4 | €14,095 | €15,352 | +€1,257 | +8.9% |
| Advances received on contracts in progress | 46 | - | €617 | +€617 | |
| Taxes, remuneration and social security | 45 | €19,064 | €20,897 | +€1,833 | +9.6% |
| Taxes | 450/3 | €19,064 | €20,897 | +€1,833 | +9.6% |
| Other amounts payable | 47/48 | €79,426 | €82,838 | +€3,412 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €592 | €950 | +€358 | +60.6% |
| Other operating charges | 640/8 | €7,612 | €1,188 | -€6,424 | -84.4% |
| Non-recurring operating charges | 66A | €4,271 | - | -€4,271 | |
| Gross operating margin | 9900 | €63,196 | €71,294 | +€8,098 | +12.8% |
| Operating profit (loss) | 9901 | €50,721 | €69,155 | +€18,435 | +36.3% |
| Financial charges | 65/66B | €22,534 | €21,928 | -€606 | -2.7% |
| Recurring financial charges | 65 | €22,534 | €21,928 | -€606 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €28,187 | €47,228 | +€19,041 | +67.6% |
| Income taxes | 67/77 | €6,418 | €11,425 | +€5,007 | +78.0% |
| Profit (loss) for the period | 9904 | €21,769 | €35,803 | +€14,034 | +64.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,769 | €35,803 | +€14,034 | +64.5% |
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 16 October 2026 via checked.be.