GODEFROIDT PETER: 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.
GODEFROIDT PETER
Largest movements
- Current investments -€330,806
down €330,806 (-32.6%), from €1.0m to €684,964
- Cash +€116,339
up €116,339 (+57.5%), from €202,395 to €318,735
mainly Current investments (+€330,806) and Net result for the year (+€299,279)
- Receivables within one year +€24,530
up €24,530 (+47.2%), from €51,966 to €76,496
of which Trade receivables: +€18,983
- Tangible fixed assets -€17,264
down €17,264 (-5.2%), from €334,908 to €317,644
of which Land and buildings: -€9,886
- Reserves -€198,025
down €198,025 (-19.4%), from €1.0m to €823,957
of which Distributable reserves: -€198,025
- Staff costs +€26,903
up €26,903 (+22.5%), from €119,436 to €146,339
- Taxes -€9,994
down €9,994 (-8.3%), from €119,863 to €109,869
- Financial income -€7,487
down €7,487 (-14.9%), from €50,134 to €42,647
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 | €1,606,159 | €1,398,151 | -€208,008 | -13.0% |
| Fixed assets | 21/28 | €334,908 | €317,644 | -€17,264 | -5.2% |
| Tangible fixed assets | 22/27 | €334,908 | €317,644 | -€17,264 | -5.2% |
| Land and buildings | 22 | €231,883 | €221,997 | -€9,886 | -4.3% |
| Plant, machinery and equipment | 23 | €12,718 | €14,851 | +€2,133 | +16.8% |
| Furniture and vehicles | 24 | €90,307 | €80,796 | -€9,511 | -10.5% |
| Current assets | 29/58 | €1,271,251 | €1,080,507 | -€190,745 | -15.0% |
| Amounts receivable within one year | 40/41 | €51,966 | €76,496 | +€24,530 | +47.2% |
| Trade receivables | 40 | €4,279 | €23,262 | +€18,983 | +443.6% |
| Other amounts receivable | 41 | €47,687 | €53,235 | +€5,547 | +11.6% |
| Current investments | 50/53 | €1,015,769 | €684,964 | -€330,806 | -32.6% |
| Cash at bank and in hand | 54/58 | €202,395 | €318,735 | +€116,339 | +57.5% |
| Deferred charges and accrued income | 490/1 | €1,120 | €312 | -€808 | -72.1% |
| Total equity and liabilities | 10/49 | €1,606,159 | €1,398,151 | -€208,008 | -13.0% |
| Equity | 10/15 | €1,042,022 | €843,997 | -€198,025 | -19.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,021,981 | €823,957 | -€198,025 | -19.4% |
| Tax-exempt reserves | 132 | €83,400 | €83,400 | = | 0.0% |
| Distributable reserves | 133 | €938,581 | €740,557 | -€198,025 | -21.1% |
| Profit (loss) carried forward | 14 | €1,441 | €1,441 | = | 0.0% |
| Amounts payable | 17/49 | €564,137 | €554,153 | -€9,984 | -1.8% |
| Amounts payable within one year | 42/48 | €555,011 | €543,578 | -€11,433 | -2.1% |
| Trade debts | 44 | €9,802 | €157 | -€9,645 | -98.4% |
| Suppliers | 440/4 | €9,802 | €157 | -€9,645 | -98.4% |
| Taxes, remuneration and social security | 45 | €65,796 | €60,285 | -€5,511 | -8.4% |
| Taxes | 450/3 | €52,027 | €43,573 | -€8,454 | -16.2% |
| Remuneration and social security | 454/9 | €13,769 | €16,713 | +€2,944 | +21.4% |
| Other amounts payable | 47/48 | €479,413 | €483,136 | +€3,724 | +0.8% |
| Accrued charges and deferred income | 492/3 | €9,126 | €10,575 | +€1,449 | +15.9% |
| Non-recurring operating income | 76A | €73,475 | €0 | -€73,475 | -100.0% |
| Remuneration, social security and pensions | 62 | €119,436 | €146,339 | +€26,903 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,375 | €44,195 | +€4,820 | +12.2% |
| Other operating charges | 640/8 | €3,111 | €3,603 | +€492 | +15.8% |
| Non-recurring operating charges | 66A | - | €421 | +€421 | |
| Gross operating margin | 9900 | €566,253 | €564,377 | -€1,876 | -0.3% |
| Operating profit (loss) | 9901 | €404,332 | €369,819 | -€34,513 | -8.5% |
| Financial income | 75/76B | €50,134 | €42,647 | -€7,487 | -14.9% |
| Recurring financial income | 75 | €50,134 | €42,647 | -€7,487 | -14.9% |
| Financial charges | 65/66B | -€370 | €3,319 | +€3,689 | |
| Recurring financial charges | 65 | -€370 | €3,319 | +€3,689 | |
| Profit (loss) for the period before taxes | 9903 | €454,836 | €409,147 | -€45,689 | -10.0% |
| Income taxes | 67/77 | €119,863 | €109,869 | -€9,994 | -8.3% |
| Profit (loss) for the period | 9904 | €334,974 | €299,279 | -€35,695 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €334,974 | €299,279 | -€35,695 | -10.7% |
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.