Godratex: 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.
Godratex
Largest movements
- Stocks and contracts -€19,000
down €19,000 (-72.9%), from €26,069 to €7,069
- Cash +€13,490
up €13,490 (+188.8%), from €7,145 to €20,635
mainly Stocks and contracts (+€19,000) and Depreciation (+€6,685)
- Intangible fixed assets -€5,697
no longer reported in 2025 (was €5,697)
- Receivables within one year +€4,589
up €4,589 (+30.6%), from €14,995 to €19,584
of which Trade receivables: +€3,372
- Deferred charges and accrued income +€1,065
up €1,065 (+48.7%), from €2,189 to €3,255
- Debts after one year -€8,229
down €8,229 (-66.3%), from €12,402 to €4,174
- Trade debts +€1,456
up €1,456 (+1875.3%), from €78 to €1,533
- Gross operating margin +€10,730
up €10,730, from -€1,391 to €9,339
- Taxes -€2,455
down €2,455 (-93.0%), from €2,639 to €183
- Financial charges -€585
down €585 (-45.3%), from €1,291 to €706
- Depreciation -€279
down €279 (-4.0%), from €6,964 to €6,685
- Staff costs +€126
up €126 (+13.4%), from €942 to €1,068
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 | €58,997 | €52,456 | -€6,541 | -11.1% |
| Fixed assets | 21/28 | €8,598 | €1,913 | -€6,685 | -77.7% |
| Intangible fixed assets | 21 | €5,697 | - | -€5,697 | |
| Tangible fixed assets | 22/27 | €2,901 | €1,913 | -€988 | -34.0% |
| Furniture and vehicles | 24 | €2,901 | €1,913 | -€988 | -34.0% |
| Current assets | 29/58 | €50,399 | €50,543 | +€144 | +0.3% |
| Stocks and contracts in progress | 3 | €26,069 | €7,069 | -€19,000 | -72.9% |
| Stocks | 30/36 | €26,069 | €7,069 | -€19,000 | -72.9% |
| Amounts receivable within one year | 40/41 | €14,995 | €19,584 | +€4,589 | +30.6% |
| Trade receivables | 40 | €14,995 | €18,367 | +€3,372 | +22.5% |
| Other amounts receivable | 41 | - | €1,217 | +€1,217 | |
| Cash at bank and in hand | 54/58 | €7,145 | €20,635 | +€13,490 | +188.8% |
| Deferred charges and accrued income | 490/1 | €2,189 | €3,255 | +€1,065 | +48.7% |
| Total equity and liabilities | 10/49 | €58,997 | €52,456 | -€6,541 | -11.1% |
| Equity | 10/15 | €38,107 | €38,386 | +€279 | +0.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €31,859 | €31,859 | = | 0.0% |
| 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 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,344 | -€12,066 | +€279 | +2.3% |
| Amounts payable | 17/49 | €20,890 | €14,071 | -€6,819 | -32.6% |
| Amounts payable after more than one year | 17 | €12,402 | €4,174 | -€8,229 | -66.3% |
| Financial debts | 170/4 | €12,402 | €4,174 | -€8,229 | -66.3% |
| Amounts payable within one year | 42/48 | €8,487 | €9,897 | +€1,410 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €8,074 | €8,229 | +€155 | +1.9% |
| Trade debts | 44 | €78 | €1,533 | +€1,456 | +1875.3% |
| Suppliers | 440/4 | €78 | €1,533 | +€1,456 | +1875.3% |
| Taxes, remuneration and social security | 45 | €298 | €85 | -€213 | -71.5% |
| Taxes | 450/3 | €298 | €85 | -€213 | -71.5% |
| Other amounts payable | 47/48 | €38 | €50 | +€12 | +31.4% |
| Remuneration, social security and pensions | 62 | €942 | €1,068 | +€126 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,964 | €6,685 | -€279 | -4.0% |
| Other operating charges | 640/8 | €862 | €950 | +€88 | +10.2% |
| Gross operating margin | 9900 | -€1,391 | €9,339 | +€10,730 | |
| Operating profit (loss) | 9901 | -€10,160 | €636 | +€10,796 | |
| Financial income | 75/76B | €412 | €532 | +€120 | +29.0% |
| Recurring financial income | 75 | €412 | €532 | +€120 | +29.0% |
| Financial charges | 65/66B | €1,291 | €706 | -€585 | -45.3% |
| Recurring financial charges | 65 | €1,291 | €706 | -€585 | -45.3% |
| Profit (loss) for the period before taxes | 9903 | -€11,039 | €462 | +€11,501 | |
| Income taxes | 67/77 | €2,639 | €183 | -€2,455 | -93.0% |
| Profit (loss) for the period | 9904 | -€13,677 | €279 | +€13,956 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,677 | €279 | +€13,956 |
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 2 October 2026 via checked.be.