GODEFROID 26: 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.
GODEFROID 26
Largest movements
- Cash -€170,607
down €170,607 (-91.6%), from €186,186 to €15,578
mainly Debts after one year (-€190,085) and Net result for the year (-€51,493)
- Tangible fixed assets -€72,505
down €72,505 (-5.0%), from €1.5m to €1.4m
- Debts after one year -€190,085
down €190,085 (-24.9%), from €763,407 to €573,322
- Profit (loss) carried forward -€51,493
down €51,493 (-41.1%), from €125,203 to €73,710
- Other debts -€46,191
down €46,191 (-9.6%), from €480,344 to €434,153
- Current portion of long-term debt +€39,435
new in 2025: €39,435
- Gross operating margin -€248,136
down €248,136 (-85.3%), from €290,734 to €42,599
- Depreciation +€17,735
up €17,735 (+28.6%), from €62,099 to €79,834
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 | €1,653,567 | €1,412,401 | -€241,167 | -14.6% |
| Fixed assets | 21/28 | €1,451,749 | €1,379,243 | -€72,505 | -5.0% |
| Tangible fixed assets | 22/27 | €1,451,749 | €1,379,243 | -€72,505 | -5.0% |
| Land and buildings | 22 | €1,451,749 | €1,379,243 | -€72,505 | -5.0% |
| Current assets | 29/58 | €201,818 | €33,157 | -€168,661 | -83.6% |
| Current investments | 50/53 | €15,633 | €15,679 | +€46 | +0.3% |
| Cash at bank and in hand | 54/58 | €186,186 | €15,578 | -€170,607 | -91.6% |
| Deferred charges and accrued income | 490/1 | - | €1,900 | +€1,900 | |
| Total equity and liabilities | 10/49 | €1,653,567 | €1,412,401 | -€241,167 | -14.6% |
| Equity | 10/15 | €394,647 | €343,155 | -€51,493 | -13.0% |
| Contributions | 10/11 | €237,544 | €237,544 | = | 0.0% |
| Reserves | 13 | €31,900 | €31,900 | = | 0.0% |
| Distributable reserves | 133 | €31,900 | €31,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,203 | €73,710 | -€51,493 | -41.1% |
| Amounts payable | 17/49 | €1,258,920 | €1,069,246 | -€189,674 | -15.1% |
| Amounts payable after more than one year | 17 | €763,407 | €573,322 | -€190,085 | -24.9% |
| Financial debts | 170/4 | €763,407 | €573,322 | -€190,085 | -24.9% |
| Amounts payable within one year | 42/48 | €490,099 | €483,687 | -€6,412 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | - | €39,435 | +€39,435 | |
| Trade debts | 44 | €9,755 | €10,100 | +€345 | +3.5% |
| Suppliers | 440/4 | €9,755 | €10,100 | +€345 | +3.5% |
| Other amounts payable | 47/48 | €480,344 | €434,153 | -€46,191 | -9.6% |
| Accrued charges and deferred income | 492/3 | €5,414 | €12,237 | +€6,823 | +126.0% |
| Non-recurring operating income | 76A | €278,045 | - | -€278,045 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,099 | €79,834 | +€17,735 | +28.6% |
| Other operating charges | 640/8 | €4,851 | €5,611 | +€760 | +15.7% |
| Gross operating margin | 9900 | €290,734 | €42,599 | -€248,136 | -85.3% |
| Operating profit (loss) | 9901 | €223,785 | -€42,846 | -€266,630 | |
| Financial income | 75/76B | €35 | €46 | +€12 | +34.7% |
| Recurring financial income | 75 | €35 | €46 | +€12 | +34.7% |
| Financial charges | 65/66B | €8,367 | €8,694 | +€327 | +3.9% |
| Recurring financial charges | 65 | €8,367 | €8,694 | +€327 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €215,453 | -€51,493 | -€266,945 | |
| Profit (loss) for the period | 9904 | €215,453 | -€51,493 | -€266,945 | |
| Profit (loss) for the period to be appropriated | 9905 | €215,453 | -€51,493 | -€266,945 |
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 7 October 2026 via checked.be.