GODECOR: 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.
GODECOR
Largest movements
- Cash +€74,278
up €74,278 (+29.9%), from €248,190 to €322,468
mainly Net result for the year (+€68,612) and Other debts (+€57,281)
- Tangible fixed assets -€27,664
down €27,664 (-7.3%), from €381,479 to €353,815
of which Land and buildings: -€19,208
- Receivables within one year -€25,808
down €25,808 (-26.5%), from €97,344 to €71,535
of which Other amounts receivable: -€26,174
- Stocks and contracts +€15,296
up €15,296 (+24.4%), from €62,632 to €77,927
- Other debts +€57,281
up €57,281 (+38.0%), from €150,835 to €208,116
- Tax, wage and social debts -€27,840
down €27,840 (-40.1%), from €69,457 to €41,617
of which Remuneration and social security: -€18,326
- Debts after one year -€16,462
down €16,462 (-18.1%), from €90,814 to €74,352
- Reserves +€14,612
up €14,612 (+5.1%), from €287,250 to €301,861
of which Distributable reserves: +€14,612
- Staff costs -€49,192
down €49,192 (-9.2%), from €535,824 to €486,633
- Taxes +€23,871
up €23,871 (+215.7%), from €11,065 to €34,937
- Gross operating margin +€16,391
up €16,391 (+2.6%), from €631,957 to €648,348
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 | €815,577 | €847,769 | +€32,191 | +3.9% |
| Fixed assets | 21/28 | €381,479 | €353,815 | -€27,664 | -7.3% |
| Tangible fixed assets | 22/27 | €381,479 | €353,815 | -€27,664 | -7.3% |
| Land and buildings | 22 | €243,325 | €224,117 | -€19,208 | -7.9% |
| Plant, machinery and equipment | 23 | €45,059 | €39,510 | -€5,549 | -12.3% |
| Furniture and vehicles | 24 | €14,417 | €9,895 | -€4,521 | -31.4% |
| Leasing and similar rights | 25 | €78,678 | €80,292 | +€1,614 | +2.1% |
| Current assets | 29/58 | €434,098 | €493,954 | +€59,855 | +13.8% |
| Stocks and contracts in progress | 3 | €62,632 | €77,927 | +€15,296 | +24.4% |
| Stocks | 30/36 | €62,632 | €77,927 | +€15,296 | +24.4% |
| Amounts receivable within one year | 40/41 | €97,344 | €71,535 | -€25,808 | -26.5% |
| Trade receivables | 40 | €70,551 | €70,917 | +€366 | +0.5% |
| Other amounts receivable | 41 | €26,793 | €618 | -€26,174 | -97.7% |
| Cash at bank and in hand | 54/58 | €248,190 | €322,468 | +€74,278 | +29.9% |
| Deferred charges and accrued income | 490/1 | €25,933 | €22,024 | -€3,910 | -15.1% |
| Total equity and liabilities | 10/49 | €815,577 | €847,769 | +€32,191 | +3.9% |
| Equity | 10/15 | €350,250 | €364,861 | +€14,612 | +4.2% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €287,250 | €301,861 | +€14,612 | +5.1% |
| Tax-exempt reserves | 132 | €2,925 | €2,925 | = | 0.0% |
| Distributable reserves | 133 | €284,325 | €298,936 | +€14,612 | +5.1% |
| Amounts payable | 17/49 | €465,328 | €482,907 | +€17,579 | +3.8% |
| Amounts payable after more than one year | 17 | €90,814 | €74,352 | -€16,462 | -18.1% |
| Financial debts | 170/4 | €90,814 | €74,352 | -€16,462 | -18.1% |
| Amounts payable within one year | 42/48 | €361,938 | €397,438 | +€35,500 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €16,392 | €16,462 | +€70 | +0.4% |
| Trade debts | 44 | €125,254 | €131,243 | +€5,989 | +4.8% |
| Suppliers | 440/4 | €125,254 | €131,243 | +€5,989 | +4.8% |
| Taxes, remuneration and social security | 45 | €69,457 | €41,617 | -€27,840 | -40.1% |
| Taxes | 450/3 | €49,082 | €39,567 | -€9,515 | -19.4% |
| Remuneration and social security | 454/9 | €20,376 | €2,050 | -€18,326 | -89.9% |
| Other amounts payable | 47/48 | €150,835 | €208,116 | +€57,281 | +38.0% |
| Accrued charges and deferred income | 492/3 | €12,576 | €11,117 | -€1,458 | -11.6% |
| Remuneration, social security and pensions | 62 | €535,824 | €486,633 | -€49,192 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,260 | €44,922 | -€6,338 | -12.4% |
| Other operating charges | 640/8 | €3,172 | €3,125 | -€48 | -1.5% |
| Gross operating margin | 9900 | €631,957 | €648,348 | +€16,391 | +2.6% |
| Operating profit (loss) | 9901 | €41,700 | €113,668 | +€71,968 | +172.6% |
| Financial income | 75/76B | €6,008 | €4,866 | -€1,143 | -19.0% |
| Recurring financial income | 75 | €6,008 | €4,866 | -€1,143 | -19.0% |
| Financial charges | 65/66B | €16,447 | €14,986 | -€1,461 | -8.9% |
| Recurring financial charges | 65 | €16,447 | €14,986 | -€1,461 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €31,261 | €103,548 | +€72,287 | +231.2% |
| Income taxes | 67/77 | €11,065 | €34,937 | +€23,871 | +215.7% |
| Profit (loss) for the period | 9904 | €20,196 | €68,612 | +€48,415 | +239.7% |
| Profit (loss) for the period to be appropriated | 9905 | €20,196 | €68,612 | +€48,415 | +239.7% |
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 3 October 2026 via checked.be.