GODERO: 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.
What changed
GODERO
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€54,018
2024 · €67,020-€13,003
Equity
€1.5m
2024 · €1.4m+€54,018
Cash
€49,256
2024 · €76,885-€27,629
Balance sheet total
€1.9m
2024 · €1.8m+€12,067
Largest movements
Assets
- Receivables within one year +€28,771
up €28,771 (+12.9%), from €223,494 to €252,265
- Cash -€27,629
down €27,629 (-35.9%), from €76,885 to €49,256
mainly Investment in fixed assets (net) (-€102,328) and Receivables within one year (-€28,771)
Equity and liabilities
- Profit (loss) carried forward +€64,986
up €64,986 (+12.9%), from €504,520 to €569,506
- Debts after one year -€27,225
down €27,225 (-14.7%), from €185,453 to €158,229
Income statement
- Gross operating margin -€13,034
down €13,034 (-5.6%), from €233,680 to €220,646
- Depreciation +€4,950
up €4,950 (+5.4%), from €91,209 to €96,160
- Taxes -€4,904
down €4,904 (-16.0%), from €30,711 to €25,807
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.
Result 2024
€67,020
Gross operating margin
-€13,034
Depreciation
-€4,950
Other operating charges
-€1,874
Financial income
+€611
Financial charges
+€1,340
Taxes
+€4,904
Result 2025
€54,018
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.
From operations
+€94,694
Investment
-€102,328
Financing
-€19,995
Cash 2024
€76,885
From operations (derived)
+€94,694
Net result for the year
+€54,018
Depreciation
+€96,160
Receivables within one year
-€28,771
Deferred charges and accrued income
-€4,757
Provisions
-€5,648
Trade debts
-€8,354
Other debts
-€10,100
Accrued charges and deferred income
+€2,146
Investment (derived)
-€102,328
Investment in fixed assets (net)
-€102,328
Financing
-€19,995
Debts after one year
-€27,225
Current portion of long-term debt
+€7,230
Cash 2025
€49,256
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,849,271 | €1,861,338 | +€12,067 | +0.7% |
| Fixed assets | 21/28 | €1,541,801 | €1,547,970 | +€6,169 | +0.4% |
| Tangible fixed assets | 22/27 | €1,541,801 | €1,547,970 | +€6,169 | +0.4% |
| Land and buildings | 22 | €1,333,101 | €1,284,386 | -€48,715 | -3.7% |
| Plant, machinery and equipment | 23 | €192,847 | €212,196 | +€19,349 | +10.0% |
| Furniture and vehicles | 24 | €15,854 | €51,388 | +€35,535 | +224.1% |
| Current assets | 29/58 | €307,469 | €313,368 | +€5,899 | +1.9% |
| Amounts receivable within one year | 40/41 | €223,494 | €252,265 | +€28,771 | +12.9% |
| Other amounts receivable | 41 | €223,494 | €252,265 | +€28,771 | +12.9% |
| Cash at bank and in hand | 54/58 | €76,885 | €49,256 | -€27,629 | -35.9% |
| Deferred charges and accrued income | 490/1 | €7,090 | €11,847 | +€4,757 | +67.1% |
| Total equity and liabilities | 10/49 | €1,849,271 | €1,861,338 | +€12,067 | +0.7% |
| Equity | 10/15 | €1,399,619 | €1,453,637 | +€54,018 | +3.9% |
| Contributions | 10/11 | €69,315 | €69,315 | = | 0.0% |
| Capital | 10 | €69,315 | €69,315 | = | 0.0% |
| Issued capital | 100 | €69,315 | €69,315 | = | 0.0% |
| Reserves | 13 | €825,785 | €814,816 | -€10,969 | -1.3% |
| Non-distributable reserves | 130/1 | €452,148 | €452,148 | = | 0.0% |
| Legal reserve | 130 | €6,932 | €6,932 | = | 0.0% |
| Other | 1319 | €445,216 | €445,216 | = | 0.0% |
| Tax-exempt reserves | 132 | €266,908 | €255,939 | -€10,969 | -4.1% |
| Distributable reserves | 133 | €106,729 | €106,729 | = | 0.0% |
| Profit (loss) carried forward | 14 | €504,520 | €569,506 | +€64,986 | +12.9% |
| Provisions and deferred taxes | 16 | €137,437 | €131,789 | -€5,648 | -4.1% |
| Deferred taxes | 168 | €137,437 | €131,789 | -€5,648 | -4.1% |
| Amounts payable | 17/49 | €312,214 | €275,912 | -€36,302 | -11.6% |
| Amounts payable after more than one year | 17 | €185,453 | €158,229 | -€27,225 | -14.7% |
| Financial debts | 170/4 | €185,453 | €158,229 | -€27,225 | -14.7% |
| Amounts payable within one year | 42/48 | €124,485 | €113,262 | -€11,224 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €70,069 | €77,299 | +€7,230 | +10.3% |
| Trade debts | 44 | €14,008 | €5,654 | -€8,354 | -59.6% |
| Suppliers | 440/4 | €14,008 | €5,654 | -€8,354 | -59.6% |
| Taxes, remuneration and social security | 45 | €2,000 | €2,000 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €38,408 | €28,308 | -€10,100 | -26.3% |
| Accrued charges and deferred income | 492/3 | €2,276 | €4,422 | +€2,146 | +94.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,209 | €96,160 | +€4,950 | +5.4% |
| Other operating charges | 640/8 | €55,946 | €57,820 | +€1,874 | +3.3% |
| Gross operating margin | 9900 | €233,680 | €220,646 | -€13,034 | -5.6% |
| Operating profit (loss) | 9901 | €86,525 | €66,667 | -€19,858 | -23.0% |
| Financial income | 75/76B | €12,455 | €13,066 | +€611 | +4.9% |
| Recurring financial income | 75 | €12,455 | €13,066 | +€611 | +4.9% |
| Financial charges | 65/66B | €6,896 | €5,557 | -€1,340 | -19.4% |
| Recurring financial charges | 65 | €6,896 | €5,557 | -€1,340 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €92,084 | €74,177 | -€17,907 | -19.4% |
| Transfer from deferred taxes | 780 | €5,648 | €5,648 | = | 0.0% |
| Income taxes | 67/77 | €30,711 | €25,807 | -€4,904 | -16.0% |
| Profit (loss) for the period | 9904 | €67,020 | €54,018 | -€13,003 | -19.4% |
| Transfer from tax-exempt reserves | 789 | €10,969 | €10,969 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €77,989 | €64,986 | -€13,003 | -16.7% |
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 30 September 2026 via checked.be.