GOED-A: 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.
What changed
GOED-A
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€489,521
2024 · €643,734-€154,214
Equity
€2.6m
2024 · €2.1m+€489,521
Cash
€193,684
2024 · €214,058-€20,375
Balance sheet total
€14.5m
2024 · €14.9m-€389,410
Largest movements
Assets
- Tangible fixed assets -€489,291
down €489,291 (-3.4%), from €14.3m to €13.8m
of which Land and buildings: -€443,708
Equity and liabilities
- Debts after one year -€1.0m
down €1.0m (-8.8%), from €11.7m to €10.6m
- Profit (loss) carried forward +€489,521
up €489,521 (+24.2%), from €2.0m to €2.5m
Income statement
- Taxes +€125,601
up €125,601 (+89.7%), from €140,000 to €265,601
- Staff costs +€54,103
up €54,103 (+210%), from €25,743 to €79,846
- Gross operating margin +€40,750
up €40,750 (+2.4%), from €1.7m to €1.7m
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
€643,734
Gross operating margin
+€40,750
Staff costs
-€54,103
Depreciation
-€10,054
Write-downs
-€2,563
Other operating charges
-€15,356
Financial income
+€284
Financial charges
+€12,429
Taxes
-€125,601
Result 2025
€489,521
raises the resultlowers the result
Derived cash bridge
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
+€1.0m
Investment
-€61,730
Financing
-€985,381
Cash 2024
€214,058
From operations (derived)
+€1.0m
Net result for the year
+€489,521
Depreciation
+€551,237
Receivables within one year
-€120,144
Deferred charges and accrued income
-€328
Trade debts
+€51,034
Tax, wage and social debts
+€39,395
Other debts
+€4,035
Accrued charges and deferred income
+€11,987
Investment (derived)
-€61,730
Investment in fixed assets (net)
-€61,730
Financing
-€985,381
Debts after one year
-€1.0m
Current portion of long-term debt
+€38,020
Cash 2025
€193,684
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,927,660 | €14,538,250 | -€389,410 | -2.6% |
| Fixed assets | 21/28 | €14,450,282 | €13,960,775 | -€489,507 | -3.4% |
| Tangible fixed assets | 22/27 | €14,300,066 | €13,810,775 | -€489,291 | -3.4% |
| Land and buildings | 22 | €13,689,432 | €13,245,724 | -€443,708 | -3.2% |
| Plant, machinery and equipment | 23 | €610,634 | €564,271 | -€46,363 | -7.6% |
| Furniture and vehicles | 24 | - | €780 | +€780 | |
| Financial fixed assets | 28 | €150,216 | €150,000 | -€216 | -0.1% |
| Current assets | 29/58 | €477,378 | €577,475 | +€100,097 | +21.0% |
| Amounts receivable within one year | 40/41 | €237,909 | €358,053 | +€120,144 | +50.5% |
| Trade receivables | 40 | €187,909 | €358,053 | +€170,144 | +90.5% |
| Other amounts receivable | 41 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €214,058 | €193,684 | -€20,375 | -9.5% |
| Deferred charges and accrued income | 490/1 | €25,410 | €25,738 | +€328 | +1.3% |
| Total equity and liabilities | 10/49 | €14,927,660 | €14,538,250 | -€389,410 | -2.6% |
| Equity | 10/15 | €2,066,418 | €2,555,939 | +€489,521 | +23.7% |
| Contributions | 10/11 | €47,146 | €47,146 | = | 0.0% |
| Reserves | 13 | €374 | €374 | = | 0.0% |
| Distributable reserves | 133 | €374 | €374 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,018,898 | €2,508,419 | +€489,521 | +24.2% |
| Amounts payable | 17/49 | €12,861,242 | €11,982,311 | -€878,931 | -6.8% |
| Amounts payable after more than one year | 17 | €11,671,055 | €10,647,653 | -€1.0m | -8.8% |
| Financial debts | 170/4 | €11,671,055 | €10,647,653 | -€1.0m | -8.8% |
| Amounts payable within one year | 42/48 | €1,157,634 | €1,290,119 | +€132,484 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €985,381 | €1,023,402 | +€38,020 | +3.9% |
| Trade debts | 44 | €73,932 | €124,966 | +€51,034 | +69.0% |
| Suppliers | 440/4 | €73,932 | €124,966 | +€51,034 | +69.0% |
| Taxes, remuneration and social security | 45 | €28,759 | €68,154 | +€39,395 | +137% |
| Taxes | 450/3 | €23,012 | €54,572 | +€31,560 | +137% |
| Remuneration and social security | 454/9 | €5,746 | €13,582 | +€7,836 | +136% |
| Other amounts payable | 47/48 | €69,562 | €73,597 | +€4,035 | +5.8% |
| Accrued charges and deferred income | 492/3 | €32,552 | €44,539 | +€11,987 | +36.8% |
| Remuneration, social security and pensions | 62 | €25,743 | €79,846 | +€54,103 | +210% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €541,183 | €551,237 | +€10,054 | +1.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,563 | +€2,563 | |
| Other operating charges | 640/8 | €162,752 | €178,109 | +€15,356 | +9.4% |
| Gross operating margin | 9900 | €1,682,358 | €1,723,108 | +€40,750 | +2.4% |
| Operating profit (loss) | 9901 | €952,680 | €911,354 | -€41,326 | -4.3% |
| Financial income | 75/76B | €124 | €408 | +€284 | +229% |
| Recurring financial income | 75 | €124 | €408 | +€284 | +229% |
| Financial charges | 65/66B | €169,069 | €156,640 | -€12,429 | -7.4% |
| Recurring financial charges | 65 | €169,069 | €156,640 | -€12,429 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €783,734 | €755,122 | -€28,613 | -3.7% |
| Income taxes | 67/77 | €140,000 | €265,601 | +€125,601 | +89.7% |
| Profit (loss) for the period | 9904 | €643,734 | €489,521 | -€154,214 | -24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €643,734 | €489,521 | -€154,214 | -24.0% |
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 18 October 2026 via checked.be.