GODEFROOT: 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.
GODEFROOT
Largest movements
- Tangible fixed assets -€35,041
down €35,041 (-5.3%), from €657,502 to €622,461
of which Land and buildings: -€23,032
- Reserves +€50,500
up €50,500 (+14.7%), from €342,420 to €392,920
of which Distributable reserves: +€50,500
- Advances received -€38,500
down €38,500 (-100.0%), from €38,500 to €0
- Debts after one year -€30,000
down €30,000 (-27.8%), from €108,000 to €78,000
- Trade debts -€11,252
down €11,252 (-92.5%), from €12,165 to €913
- Taxes +€9,558
up €9,558 (+48.7%), from €19,615 to €29,173
- Financial charges -€6,271
down €6,271 (-53.2%), from €11,781 to €5,509
- Gross operating margin +€5,331
up €5,331 (+4.3%), from €122,978 to €128,309
- Depreciation +€1,714
up €1,714 (+5.1%), from €33,327 to €35,041
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 | €680,970 | €650,133 | -€30,837 | -4.5% |
| Fixed assets | 21/28 | €657,576 | €622,535 | -€35,041 | -5.3% |
| Tangible fixed assets | 22/27 | €657,502 | €622,461 | -€35,041 | -5.3% |
| Land and buildings | 22 | €522,683 | €499,652 | -€23,032 | -4.4% |
| Plant, machinery and equipment | 23 | €134,819 | €122,809 | -€12,009 | -8.9% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €23,394 | €27,598 | +€4,204 | +18.0% |
| Amounts receivable within one year | 40/41 | €2,386 | €3,514 | +€1,129 | +47.3% |
| Trade receivables | 40 | €1 | €25 | +€25 | +2732.2% |
| Other amounts receivable | 41 | €2,385 | €3,489 | +€1,104 | +46.3% |
| Cash at bank and in hand | 54/58 | €21,008 | €24,083 | +€3,075 | +14.6% |
| Total equity and liabilities | 10/49 | €680,970 | €650,133 | -€30,837 | -4.5% |
| Equity | 10/15 | €412,925 | €463,453 | +€50,528 | +12.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €342,420 | €392,920 | +€50,500 | +14.7% |
| Non-distributable reserves | 130/1 | €27,000 | €27,000 | = | 0.0% |
| Legal reserve | 130 | €27,000 | €27,000 | = | 0.0% |
| Distributable reserves | 133 | €315,420 | €365,920 | +€50,500 | +16.0% |
| Profit (loss) carried forward | 14 | €505 | €534 | +€28 | +5.6% |
| Amounts payable | 17/49 | €268,045 | €186,679 | -€81,366 | -30.4% |
| Amounts payable after more than one year | 17 | €108,000 | €78,000 | -€30,000 | -27.8% |
| Financial debts | 170/4 | €108,000 | €78,000 | -€30,000 | -27.8% |
| Amounts payable within one year | 42/48 | €160,045 | €108,679 | -€51,366 | -32.1% |
| Trade debts | 44 | €12,165 | €913 | -€11,252 | -92.5% |
| Suppliers | 440/4 | €12,165 | €913 | -€11,252 | -92.5% |
| Advances received on contracts in progress | 46 | €38,500 | €0 | -€38,500 | -100.0% |
| Taxes, remuneration and social security | 45 | €3,489 | €6,395 | +€2,907 | +83.3% |
| Taxes | 450/3 | €3,489 | €6,395 | +€2,907 | +83.3% |
| Other amounts payable | 47/48 | €105,892 | €101,371 | -€4,521 | -4.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,327 | €35,041 | +€1,714 | +5.1% |
| Other operating charges | 640/8 | €7,897 | €8,058 | +€160 | +2.0% |
| Gross operating margin | 9900 | €122,978 | €128,309 | +€5,331 | +4.3% |
| Operating profit (loss) | 9901 | €81,754 | €85,211 | +€3,457 | +4.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €11,781 | €5,509 | -€6,271 | -53.2% |
| Recurring financial charges | 65 | €11,781 | €5,509 | -€6,271 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | €69,973 | €79,701 | +€9,728 | +13.9% |
| Income taxes | 67/77 | €19,615 | €29,173 | +€9,558 | +48.7% |
| Profit (loss) for the period | 9904 | €50,358 | €50,528 | +€171 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €50,358 | €50,528 | +€171 | +0.3% |
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 29 September 2026 via checked.be.