GODEFROID MAAIKE: 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.
GODEFROID MAAIKE
Largest movements
- Cash -€36,115
down €36,115 (-30.4%), from €118,721 to €82,606
mainly Contributions, distributions and other (-€175,000) and Investment in fixed assets (net) (-€4,084)
- Receivables within one year -€6,860
down €6,860 (-51.5%), from €13,320 to €6,460
of which Other amounts receivable: -€5,790
- Tangible fixed assets -€3,684
down €3,684 (-2.7%), from €138,699 to €135,015
of which Land and buildings: -€6,276
- Reserves -€96,049
down €96,049 (-77.6%), from €123,798 to €27,749
- Other debts +€42,511
up €42,511 (+39.6%), from €107,218 to €149,729
- Tax, wage and social debts +€8,157
up €8,157 (+43.5%), from €18,750 to €26,907
- Short-term financial debts -€3,379
no longer reported in 2025 (was €3,379)
- Gross operating margin +€5,584
up €5,584 (+5.3%), from €105,491 to €111,075
- Taxes +€1,441
up €1,441 (+7.5%), from €19,216 to €20,657
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 | €273,149 | €225,746 | -€47,403 | -17.4% |
| Fixed assets | 21/28 | €138,699 | €135,015 | -€3,684 | -2.7% |
| Tangible fixed assets | 22/27 | €138,699 | €135,015 | -€3,684 | -2.7% |
| Land and buildings | 22 | €134,142 | €127,866 | -€6,276 | -4.7% |
| Plant, machinery and equipment | 23 | €2,978 | €6,156 | +€3,178 | +107% |
| Furniture and vehicles | 24 | €1,578 | €992 | -€586 | -37.1% |
| Current assets | 29/58 | €134,450 | €90,731 | -€43,719 | -32.5% |
| Amounts receivable within one year | 40/41 | €13,320 | €6,460 | -€6,860 | -51.5% |
| Trade receivables | 40 | €7,530 | €6,460 | -€1,070 | -14.2% |
| Other amounts receivable | 41 | €5,790 | - | -€5,790 | |
| Cash at bank and in hand | 54/58 | €118,721 | €82,606 | -€36,115 | -30.4% |
| Deferred charges and accrued income | 490/1 | €2,409 | €1,666 | -€744 | -30.9% |
| Total equity and liabilities | 10/49 | €273,149 | €225,746 | -€47,403 | -17.4% |
| Equity | 10/15 | €142,398 | €46,349 | -€96,049 | -67.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €123,798 | €27,749 | -€96,049 | -77.6% |
| Distributable reserves | 133 | €123,798 | €27,749 | -€96,049 | -77.6% |
| Amounts payable | 17/49 | €130,751 | €179,397 | +€48,646 | +37.2% |
| Amounts payable within one year | 42/48 | €130,287 | €179,397 | +€49,110 | +37.7% |
| Financial debts | 43 | €3,379 | - | -€3,379 | |
| Credit institutions | 430/8 | €3,379 | - | -€3,379 | |
| Trade debts | 44 | €939 | €2,761 | +€1,822 | +194% |
| Suppliers | 440/4 | €939 | €2,761 | +€1,822 | +194% |
| Taxes, remuneration and social security | 45 | €18,750 | €26,907 | +€8,157 | +43.5% |
| Taxes | 450/3 | €18,750 | €26,907 | +€8,157 | +43.5% |
| Other amounts payable | 47/48 | €107,218 | €149,729 | +€42,511 | +39.6% |
| Accrued charges and deferred income | 492/3 | €464 | - | -€464 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,415 | €7,768 | +€352 | +4.8% |
| Other operating charges | 640/8 | €1,105 | €1,042 | -€63 | -5.7% |
| Gross operating margin | 9900 | €105,491 | €111,075 | +€5,584 | +5.3% |
| Operating profit (loss) | 9901 | €96,970 | €102,265 | +€5,295 | +5.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,500 | €2,657 | -€843 | -24.1% |
| Recurring financial charges | 65 | €3,500 | €2,657 | -€843 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €93,470 | €99,608 | +€6,138 | +6.6% |
| Income taxes | 67/77 | €19,216 | €20,657 | +€1,441 | +7.5% |
| Profit (loss) for the period | 9904 | €74,254 | €78,951 | +€4,697 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €74,254 | €78,951 | +€4,697 | +6.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.