GODEFROID: 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
GODEFROID
NACE 10.711, Manufacture of food products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€91,035
2024 · €97,023-€188,058
Equity
€586,433
2024 · €683,082-€96,649
Cash
€147,647
2024 · €193,244-€45,597
Balance sheet total
€2.4m
2024 · €2.4m-€9,650
Largest movements
Assets
- Cash -€45,597
down €45,597 (-23.6%), from €193,244 to €147,647
mainly Investment in fixed assets (net) (-€248,733) and Debts after one year (-€112,026)
- Receivables within one year +€44,069
up €44,069 (+18.1%), from €242,902 to €286,972
of which Trade receivables: +€27,722
- Intangible fixed assets -€27,600
down €27,600 (-66.7%), from €41,400 to €13,800
Equity and liabilities
- Debts after one year -€112,026
down €112,026 (-17.0%), from €657,335 to €545,309
- Trade debts +€95,443
up €95,443 (+44.7%), from €213,631 to €309,074
- Tax, wage and social debts +€95,212
up €95,212 (+33.8%), from €281,666 to €376,878
of which Remuneration and social security: +€65,795
- Profit (loss) carried forward -€91,035
down €91,035, from €473 to -€90,562
Income statement
- Staff costs +€100,405
up €100,405 (+4.6%), from €2.2m to €2.3m
- Gross operating margin -€76,883
down €76,883 (-3.0%), from €2.6m to €2.5m
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
€97,023
Gross operating margin
-€76,883
Staff costs
-€100,405
Depreciation
-€5,678
Write-downs
-€72
Other operating charges
-€2,000
Financial income
-€6,425
Financial charges
-€1,710
Taxes
+€5,115
Result 2025
-€91,035
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.
From operations
+€294,808
Investment
-€226,242
Financing
-€114,163
Cash 2024
€193,244
From operations (derived)
+€294,808
Net result for the year
-€91,035
Depreciation
+€264,042
Stocks and contracts
-€16,831
Receivables within one year
-€44,069
Deferred charges and accrued income
-€12,847
Trade debts
+€95,443
Tax, wage and social debts
+€95,212
Other debts
+€4,893
Investment (derived)
-€226,242
Investment in fixed assets (net)
-€248,733
Current investments
+€22,491
Financing
-€114,163
Debts after one year
-€112,026
Current portion of long-term debt
+€3,094
Short-term financial debts
+€383
Contributions, distributions and other
-€5,614
Cash 2025
€147,647
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,410,566 | €2,400,916 | -€9,650 | -0.4% |
| Fixed assets | 21/28 | €1,543,729 | €1,528,420 | -€15,309 | -1.0% |
| Intangible fixed assets | 21 | €41,400 | €13,800 | -€27,600 | -66.7% |
| Tangible fixed assets | 22/27 | €1,501,132 | €1,513,263 | +€12,131 | +0.8% |
| Land and buildings | 22 | €1,057,819 | €1,033,098 | -€24,721 | -2.3% |
| Plant, machinery and equipment | 23 | €327,309 | €353,741 | +€26,432 | +8.1% |
| Furniture and vehicles | 24 | €59,315 | €95,750 | +€36,435 | +61.4% |
| Other tangible fixed assets | 26 | €56,689 | €30,675 | -€26,014 | -45.9% |
| Financial fixed assets | 28 | €1,197 | €1,357 | +€160 | +13.4% |
| Current assets | 29/58 | €866,837 | €872,496 | +€5,659 | +0.7% |
| Stocks and contracts in progress | 3 | €99,860 | €116,691 | +€16,831 | +16.9% |
| Stocks | 30/36 | €99,860 | €116,691 | +€16,831 | +16.9% |
| Amounts receivable within one year | 40/41 | €242,902 | €286,972 | +€44,069 | +18.1% |
| Trade receivables | 40 | €216,948 | €244,670 | +€27,722 | +12.8% |
| Other amounts receivable | 41 | €25,954 | €42,301 | +€16,347 | +63.0% |
| Current investments | 50/53 | €326,550 | €304,059 | -€22,491 | -6.9% |
| Cash at bank and in hand | 54/58 | €193,244 | €147,647 | -€45,597 | -23.6% |
| Deferred charges and accrued income | 490/1 | €4,280 | €17,127 | +€12,847 | +300.1% |
| Total equity and liabilities | 10/49 | €2,410,566 | €2,400,916 | -€9,650 | -0.4% |
| Equity | 10/15 | €683,082 | €586,433 | -€96,649 | -14.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €587,397 | €587,397 | = | 0.0% |
| Non-distributable reserves | 130/1 | €152,897 | €152,897 | = | 0.0% |
| Reserves not available under the articles | 1311 | €152,897 | €152,897 | = | 0.0% |
| Distributable reserves | 133 | €434,500 | €434,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €473 | -€90,562 | -€91,035 | |
| Investment grants | 15 | €33,239 | €27,625 | -€5,614 | -16.9% |
| Amounts payable | 17/49 | €1,727,484 | €1,814,483 | +€86,999 | +5.0% |
| Amounts payable after more than one year | 17 | €657,335 | €545,309 | -€112,026 | -17.0% |
| Financial debts | 170/4 | €657,335 | €545,309 | -€112,026 | -17.0% |
| Amounts payable within one year | 42/48 | €1,070,149 | €1,269,174 | +€199,025 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €108,932 | €112,026 | +€3,094 | +2.8% |
| Financial debts | 43 | €38,252 | €38,635 | +€383 | +1.0% |
| Credit institutions | 430/8 | €38,252 | €38,635 | +€383 | +1.0% |
| Trade debts | 44 | €213,631 | €309,074 | +€95,443 | +44.7% |
| Suppliers | 440/4 | €213,631 | €309,074 | +€95,443 | +44.7% |
| Taxes, remuneration and social security | 45 | €281,666 | €376,878 | +€95,212 | +33.8% |
| Taxes | 450/3 | €17,962 | €47,378 | +€29,417 | +163.8% |
| Remuneration and social security | 454/9 | €263,705 | €329,499 | +€65,795 | +25.0% |
| Other amounts payable | 47/48 | €427,668 | €432,561 | +€4,893 | +1.1% |
| Non-recurring operating income | 76A | €16,102 | €16,201 | +€99 | +0.6% |
| Remuneration, social security and pensions | 62 | €2,192,230 | €2,292,634 | +€100,405 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €258,364 | €264,042 | +€5,678 | +2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€72 | €0 | +€72 | |
| Other operating charges | 640/8 | €25,419 | €27,419 | +€2,000 | +7.9% |
| Gross operating margin | 9900 | €2,573,114 | €2,496,231 | -€76,883 | -3.0% |
| Operating profit (loss) | 9901 | €97,174 | -€87,864 | -€185,038 | |
| Financial income | 75/76B | €29,479 | €23,054 | -€6,425 | -21.8% |
| Recurring financial income | 75 | €29,479 | €23,054 | -€6,425 | -21.8% |
| Financial charges | 65/66B | €23,855 | €25,565 | +€1,710 | +7.2% |
| Recurring financial charges | 65 | €23,855 | €25,565 | +€1,710 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €102,798 | -€90,375 | -€193,173 | |
| Income taxes | 67/77 | €5,775 | €660 | -€5,115 | -88.6% |
| Profit (loss) for the period | 9904 | €97,023 | -€91,035 | -€188,058 | |
| Profit (loss) for the period to be appropriated | 9905 | €97,023 | -€91,035 | -€188,058 |
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 10 October 2026 via checked.be.