GODDEERIS: 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.
What changed
GODDEERIS
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€160,015
2024 · €811,988-€651,973
Equity
€3.8m
2024 · €3.7m+€160,015
Cash
€406,533
2024 · €233,799+€172,734
Balance sheet total
€10.8m
2024 · €10.2m+€508,707
Largest movements
Assets
- Tangible fixed assets +€695,677
up €695,677 (+172%), from €404,741 to €1.1m
of which Plant, machinery and equipment: +€564,173
- Receivables within one year -€347,495
down €347,495 (-7.8%), from €4.5m to €4.1m
of which Other amounts receivable: -€227,069
- Cash +€172,734
up €172,734 (+73.9%), from €233,799 to €406,533
mainly Short-term financial debts (+€806,119) and Receivables within one year (+€347,495)
Equity and liabilities
- Short-term financial debts +€806,119
up €806,119 (+26.4%), from €3.1m to €3.9m
of which Credit institutions: +€703,872
- Tax, wage and social debts -€197,330
down €197,330 (-42.1%), from €469,089 to €271,759
of which Taxes: -€314,502
- Reserves +€160,015
up €160,015 (+4.5%), from €3.6m to €3.8m
of which Tax-exempt reserves: +€210,500
- Debts after one year -€134,159
down €134,159 (-14.1%), from €949,159 to €815,000
Income statement
- Turnover -€4.5m
down €4.5m (-21.9%), from €20.7m to €16.2m
- Goods and materials -€3.4m
down €3.4m (-23.7%), from €14.3m to €10.9m
of which Purchases: -€3.5m
- Services and other goods -€820,569
down €820,569 (-24.4%), from €3.4m to €2.5m
- Financial charges -€222,728
down €222,728 (-59.2%), from €376,244 to €153,515
- Taxes -€208,819
down €208,819 (-73.0%), from €286,031 to €77,212
of which Taxes: -€551,235
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.
Result 2024
€811,988
Turnover
-€4.5m
Other operating income
-€78,939
Goods and materials
+€3.4m
Services and other goods
+€820,569
Staff costs
-€139,734
Depreciation
-€24,241
Write-downs
-€881
Other operating charges
-€18,576
Other operating items
-€489,546
Financial income
-€12,804
Financial charges
+€222,728
Taxes
+€208,819
Result 2025
€160,015
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€355,715
Investment
-€797,743
Financing
+€614,762
Cash 2024
€233,799
From operations (derived)
+€355,715
Net result for the year
+€160,015
Depreciation
+€102,066
Stocks and contracts
+€79,544
Receivables within one year
+€347,495
Deferred charges and accrued income
-€67,334
Trade debts
-€61,338
Tax, wage and social debts
-€197,330
Other debts
-€2,100
Accrued charges and deferred income
-€5,303
Investment (derived)
-€797,743
Investment in fixed assets (net)
-€797,743
Financing
+€614,762
Debts after one year
-€134,159
Current portion of long-term debt
-€57,198
Short-term financial debts
+€806,119
Cash 2025
€406,533
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,243,794 | €10,752,501 | +€508,707 | +5.0% |
| Fixed assets | 21/28 | €409,461 | €1,105,138 | +€695,677 | +170% |
| Tangible fixed assets | 22/27 | €404,741 | €1,100,419 | +€695,677 | +172% |
| Land and buildings | 22 | €39,926 | €186,381 | +€146,455 | +367% |
| Plant, machinery and equipment | 23 | €201,134 | €765,307 | +€564,173 | +280% |
| Furniture and vehicles | 24 | €162,543 | €148,731 | -€13,812 | -8.5% |
| Other tangible fixed assets | 26 | €1,138 | - | -€1,138 | |
| Financial fixed assets | 28 | €4,719 | €4,719 | = | 0.0% |
| Other financial fixed assets | 284/8 | €4,719 | €4,719 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €4,719 | €4,719 | = | 0.0% |
| Current assets | 29/58 | €9,834,334 | €9,647,363 | -€186,971 | -1.9% |
| Stocks and contracts in progress | 3 | €5,122,013 | €5,042,469 | -€79,544 | -1.6% |
| Stocks | 30/36 | €1,124,008 | €1,054,409 | -€69,599 | -6.2% |
| Raw materials and consumables | 30/31 | €1,124,008 | €1,054,409 | -€69,599 | -6.2% |
| Contracts in progress | 37 | €3,998,005 | €3,988,059 | -€9,945 | -0.2% |
| Amounts receivable within one year | 40/41 | €4,455,518 | €4,108,023 | -€347,495 | -7.8% |
| Trade receivables | 40 | €3,890,533 | €3,770,107 | -€120,426 | -3.1% |
| Other amounts receivable | 41 | €564,985 | €337,916 | -€227,069 | -40.2% |
| Cash at bank and in hand | 54/58 | €233,799 | €406,533 | +€172,734 | +73.9% |
| Deferred charges and accrued income | 490/1 | €23,005 | €90,339 | +€67,334 | +293% |
| Total equity and liabilities | 10/49 | €10,243,794 | €10,752,501 | +€508,707 | +5.0% |
| Equity | 10/15 | €3,653,642 | €3,813,656 | +€160,015 | +4.4% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €3,591,142 | €3,751,156 | +€160,015 | +4.5% |
| Non-distributable reserves | 130/1 | €56,820 | €56,820 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Other | 1319 | €50,570 | €50,570 | = | 0.0% |
| Tax-exempt reserves | 132 | €111,291 | €321,791 | +€210,500 | +189% |
| Distributable reserves | 133 | €3,423,030 | €3,372,545 | -€50,485 | -1.5% |
| Amounts payable | 17/49 | €6,590,152 | €6,938,844 | +€348,692 | +5.3% |
| Amounts payable after more than one year | 17 | €949,159 | €815,000 | -€134,159 | -14.1% |
| Financial debts | 170/4 | €949,159 | €815,000 | -€134,159 | -14.1% |
| Subordinated loans | 170 | €815,000 | €815,000 | = | 0.0% |
| Other loans | 174 | €134,159 | - | -€134,159 | |
| Amounts payable within one year | 42/48 | €5,623,161 | €6,111,314 | +€488,154 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €120,500 | €63,302 | -€57,198 | -47.5% |
| Financial debts | 43 | €3,054,983 | €3,861,102 | +€806,119 | +26.4% |
| Credit institutions | 430/8 | €3,016,810 | €3,720,683 | +€703,872 | +23.3% |
| Other loans | 439 | €38,173 | €140,420 | +€102,247 | +268% |
| Trade debts | 44 | €1,920,581 | €1,859,243 | -€61,338 | -3.2% |
| Suppliers | 440/4 | €1,920,581 | €1,859,243 | -€61,338 | -3.2% |
| Taxes, remuneration and social security | 45 | €469,089 | €271,759 | -€197,330 | -42.1% |
| Taxes | 450/3 | €356,364 | €41,862 | -€314,502 | -88.3% |
| Remuneration and social security | 454/9 | €112,725 | €229,897 | +€117,172 | +104% |
| Other amounts payable | 47/48 | €58,008 | €55,908 | -€2,100 | -3.6% |
| Accrued charges and deferred income | 492/3 | €17,833 | €12,530 | -€5,303 | -29.7% |
| Operating income | 70/76A | €21,349,590 | €16,256,341 | -€5.1m | -23.9% |
| Turnover | 70 | €20,706,468 | €16,181,704 | -€4.5m | -21.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €479,601 | -€9,945 | -€489,546 | |
| Other operating income | 74 | €163,521 | €84,582 | -€78,939 | -48.3% |
| Operating charges | 60/66A | €19,898,450 | €15,875,916 | -€4.0m | -20.2% |
| Goods for resale, raw materials and consumables | 60 | €14,271,402 | €10,886,006 | -€3.4m | -23.7% |
| Purchases | 600/8 | €14,293,835 | €10,816,407 | -€3.5m | -24.3% |
| Change in stocks: decrease (increase) | 609 | -€22,433 | €69,599 | +€92,032 | |
| Services and other goods | 61 | €3,368,549 | €2,547,980 | -€820,569 | -24.4% |
| Remuneration, social security and pensions | 62 | €2,128,964 | €2,268,698 | +€139,734 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,825 | €102,066 | +€24,241 | +31.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €881 | +€881 | |
| Other operating charges | 640/8 | €51,710 | €70,286 | +€18,576 | +35.9% |
| Operating profit (loss) | 9901 | €1,451,140 | €380,425 | -€1.1m | -73.8% |
| Financial income | 75/76B | €23,121 | €10,317 | -€12,804 | -55.4% |
| Recurring financial income | 75 | €23,121 | €10,317 | -€12,804 | -55.4% |
| Other financial income | 752/9 | €23,121 | €10,317 | -€12,804 | -55.4% |
| Financial charges | 65/66B | €376,244 | €153,515 | -€222,728 | -59.2% |
| Recurring financial charges | 65 | €376,244 | €153,515 | -€222,728 | -59.2% |
| Debt charges | 650 | €351,942 | €152,381 | -€199,561 | -56.7% |
| Other financial charges | 652/9 | €24,302 | €1,135 | -€23,167 | -95.3% |
| Profit (loss) for the period before taxes | 9903 | €1,098,018 | €237,226 | -€860,792 | -78.4% |
| Income taxes | 67/77 | €286,031 | €77,212 | -€208,819 | -73.0% |
| Taxes | 670/3 | €628,447 | €77,212 | -€551,235 | -87.7% |
| Tax adjustments and reversals of tax provisions | 77 | €342,417 | - | -€342,417 | |
| Profit (loss) for the period | 9904 | €811,988 | €160,015 | -€651,973 | -80.3% |
| Transfer to tax-exempt reserves | 689 | - | €210,500 | +€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €811,988 | -€50,485 | -€862,473 |
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.