GODEFROID Olivier: 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 Olivier
Largest movements
- Cash +€243,276
up €243,276 (+97.1%), from €250,622 to €493,898
mainly Net result for the year (+€188,223) and Current investments (+€88,000)
- Current investments -€88,000
down €88,000 (-59.1%), from €149,000 to €61,000
- Deferred charges and accrued income +€32,403
up €32,403 (+40.5%), from €80,014 to €112,417
- Tangible fixed assets -€18,991
down €18,991 (-5.1%), from €371,045 to €352,054
of which Land and buildings: -€13,717
- Receivables within one year -€14,487
down €14,487 (-98.5%), from €14,707 to €220
of which Other amounts receivable: -€14,707
- Reserves +€188,223
up €188,223 (+36.9%), from €509,964 to €698,186
- Debts after one year -€20,020
down €20,020 (-9.8%), from €204,095 to €184,075
- Other debts -€14,953
down €14,953 (-27.3%), from €54,734 to €39,781
- Gross operating margin +€87,747
up €87,747 (+39.5%), from €221,980 to €309,727
- Taxes +€27,719
up €27,719 (+50.1%), from €55,293 to €83,012
- Depreciation +€4,325
up €4,325 (+18.4%), from €23,536 to €27,861
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 | €865,389 | €1,019,589 | +€154,201 | +17.8% |
| Fixed assets | 21/28 | €371,045 | €352,054 | -€18,991 | -5.1% |
| Tangible fixed assets | 22/27 | €371,045 | €352,054 | -€18,991 | -5.1% |
| Land and buildings | 22 | €291,034 | €277,317 | -€13,717 | -4.7% |
| Plant, machinery and equipment | 23 | €64,342 | €61,067 | -€3,276 | -5.1% |
| Furniture and vehicles | 24 | €15,669 | €13,670 | -€1,999 | -12.8% |
| Current assets | 29/58 | €494,343 | €667,535 | +€173,192 | +35.0% |
| Amounts receivable within one year | 40/41 | €14,707 | €220 | -€14,487 | -98.5% |
| Trade receivables | 40 | - | €220 | +€220 | |
| Other amounts receivable | 41 | €14,707 | - | -€14,707 | |
| Current investments | 50/53 | €149,000 | €61,000 | -€88,000 | -59.1% |
| Cash at bank and in hand | 54/58 | €250,622 | €493,898 | +€243,276 | +97.1% |
| Deferred charges and accrued income | 490/1 | €80,014 | €112,417 | +€32,403 | +40.5% |
| Total equity and liabilities | 10/49 | €865,389 | €1,019,589 | +€154,201 | +17.8% |
| Equity | 10/15 | €558,752 | €746,975 | +€188,223 | +33.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €509,964 | €698,186 | +€188,223 | +36.9% |
| Distributable reserves | 133 | €509,964 | €698,186 | +€188,223 | +36.9% |
| Profit (loss) carried forward | 14 | €36,389 | €36,389 | = | 0.0% |
| Amounts payable | 17/49 | €306,636 | €272,614 | -€34,022 | -11.1% |
| Amounts payable after more than one year | 17 | €204,095 | €184,075 | -€20,020 | -9.8% |
| Financial debts | 170/4 | €204,095 | €184,075 | -€20,020 | -9.8% |
| Amounts payable within one year | 42/48 | €102,541 | €88,539 | -€14,002 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €24,991 | €25,814 | +€824 | +3.3% |
| Trade debts | 44 | €1,689 | €2,951 | +€1,262 | +74.7% |
| Suppliers | 440/4 | €1,689 | €2,951 | +€1,262 | +74.7% |
| Taxes, remuneration and social security | 45 | €21,128 | €19,993 | -€1,135 | -5.4% |
| Taxes | 450/3 | €21,128 | €19,993 | -€1,135 | -5.4% |
| Other amounts payable | 47/48 | €54,734 | €39,781 | -€14,953 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,536 | €27,861 | +€4,325 | +18.4% |
| Other operating charges | 640/8 | €2,295 | €2,257 | -€39 | -1.7% |
| Gross operating margin | 9900 | €221,980 | €309,727 | +€87,747 | +39.5% |
| Operating profit (loss) | 9901 | €196,149 | €279,609 | +€83,460 | +42.5% |
| Financial income | 75/76B | €59 | €1,893 | +€1,834 | +3,126% |
| Recurring financial income | 75 | €59 | €1,893 | +€1,834 | +3,126% |
| Financial charges | 65/66B | €11,331 | €10,267 | -€1,064 | -9.4% |
| Recurring financial charges | 65 | €11,331 | €10,267 | -€1,064 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €184,877 | €271,235 | +€86,358 | +46.7% |
| Income taxes | 67/77 | €55,293 | €83,012 | +€27,719 | +50.1% |
| Profit (loss) for the period | 9904 | €129,584 | €188,223 | +€58,639 | +45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €129,584 | €188,223 | +€58,639 | +45.3% |
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 20 October 2026 via checked.be.