GODEVIN: 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.
GODEVIN
Largest movements
- Receivables within one year +€703,617
up €703,617 (+138.4%), from €508,289 to €1.2m
of which Other amounts receivable: +€630,638
- Financial fixed assets -€141,993
down €141,993 (-5.4%), from €2.6m to €2.5m
- Reserves +€531,286
up €531,286 (+18.0%), from €2.9m to €3.5m
of which Distributable reserves: +€531,286
- Trade debts +€222,619
up €222,619 (+5780.2%), from €3,851 to €226,471
- Tax, wage and social debts -€191,709
down €191,709 (-80.6%), from €237,759 to €46,050
- Financial income -€2.3m
down €2.3m (-79.6%), from €2.8m to €579,935
of which Non-recurring financial income: -€2.3m
- Taxes -€212,463
down €212,463 (-83.4%), from €254,629 to €42,166
- Gross operating margin +€129,960
up €129,960, from -€101,951 to €28,009
- Financial charges -€78,916
down €78,916 (-99.5%), from €79,311 to €396
of which Non-recurring financial charges: -€78,668
- Other operating charges +€2,034
up €2,034 (+39.9%), from €5,099 to €7,133
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 | €3,248,555 | €3,781,492 | +€532,937 | +16.4% |
| Fixed assets | 21/28 | €2,685,220 | €2,518,273 | -€166,947 | -6.2% |
| Tangible fixed assets | 22/27 | €52,201 | €27,247 | -€24,955 | -47.8% |
| Land and buildings | 22 | €23,690 | €19,865 | -€3,824 | -16.1% |
| Furniture and vehicles | 24 | €28,511 | €7,381 | -€21,130 | -74.1% |
| Financial fixed assets | 28 | €2,633,019 | €2,491,026 | -€141,993 | -5.4% |
| Current assets | 29/58 | €563,335 | €1,263,219 | +€699,885 | +124.2% |
| Amounts receivable within one year | 40/41 | €508,289 | €1,211,906 | +€703,617 | +138.4% |
| Trade receivables | 40 | €14,855 | €87,833 | +€72,978 | +491.3% |
| Other amounts receivable | 41 | €493,434 | €1,124,073 | +€630,638 | +127.8% |
| Cash at bank and in hand | 54/58 | €31,784 | €41,662 | +€9,878 | +31.1% |
| Deferred charges and accrued income | 490/1 | €23,261 | €9,651 | -€13,610 | -58.5% |
| Total equity and liabilities | 10/49 | €3,248,555 | €3,781,492 | +€532,937 | +16.4% |
| Equity | 10/15 | €2,977,685 | €3,508,971 | +€531,286 | +17.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,946,812 | €3,478,098 | +€531,286 | +18.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €2,944,953 | €3,476,239 | +€531,286 | +18.0% |
| Profit (loss) carried forward | 14 | €12,281 | €12,281 | = | 0.0% |
| Amounts payable | 17/49 | €270,870 | €272,521 | +€1,651 | +0.6% |
| Amounts payable within one year | 42/48 | €270,870 | €272,521 | +€1,651 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €29,259 | - | -€29,259 | |
| Trade debts | 44 | €3,851 | €226,471 | +€222,619 | +5780.2% |
| Suppliers | 440/4 | €3,851 | €226,471 | +€222,619 | +5780.2% |
| Taxes, remuneration and social security | 45 | €237,759 | €46,050 | -€191,709 | -80.6% |
| Taxes | 450/3 | €237,759 | €46,050 | -€191,709 | -80.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,541 | €26,963 | -€1,578 | -5.5% |
| Other operating charges | 640/8 | €5,099 | €7,133 | +€2,034 | +39.9% |
| Gross operating margin | 9900 | -€101,951 | €28,009 | +€129,960 | |
| Operating profit (loss) | 9901 | -€135,591 | -€6,087 | +€129,504 | +95.5% |
| Financial income | 75/76B | €2,847,126 | €579,935 | -€2.3m | -79.6% |
| Recurring financial income | 75 | €92,065 | €79,935 | -€12,130 | -13.2% |
| Non-recurring financial income | 76B | €2,755,061 | €500,000 | -€2.3m | -81.9% |
| Financial charges | 65/66B | €79,311 | €396 | -€78,916 | -99.5% |
| Recurring financial charges | 65 | €644 | €396 | -€248 | -38.5% |
| Non-recurring financial charges | 66B | €78,668 | - | -€78,668 | |
| Profit (loss) for the period before taxes | 9903 | €2,632,223 | €573,452 | -€2.1m | -78.2% |
| Income taxes | 67/77 | €254,629 | €42,166 | -€212,463 | -83.4% |
| Profit (loss) for the period | 9904 | €2,377,594 | €531,286 | -€1.8m | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,377,594 | €531,286 | -€1.8m | -77.7% |
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 3 October 2026 via checked.be.