GOED GEMUTST: 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.
GOED GEMUTST
Largest movements
- Receivables within one year +€10,572
up €10,572 (+164%), from €6,452 to €17,024
of which Other amounts receivable: +€9,594
- Deferred charges and accrued income -€4,840
down €4,840 (-33.3%), from €14,520 to €9,680
- Cash +€3,880
up €3,880 (+13.7%), from €28,361 to €32,241
mainly Net result for the year (+€81,288) and Tax, wage and social debts (+€18,893)
- Tangible fixed assets +€2,893
up €2,893 (+8.2%), from €35,482 to €38,375
of which Furniture and vehicles: +€4,864
- Profit (loss) carried forward +€81,288
up €81,288 (+38.6%), from -€210,454 to -€129,166
- Trade debts -€43,129
down €43,129 (-33.4%), from €129,298 to €86,169
- Debts after one year -€27,548
down €27,548 (-54.4%), from €50,654 to €23,106
- Tax, wage and social debts +€18,893
up €18,893 (+23.1%), from €81,668 to €100,561
of which Remuneration and social security: +€19,729
- Current portion of long-term debt -€15,572
no longer reported in 2025 (was €15,572)
- Gross operating margin +€57,804
up €57,804 (+9.2%), from €627,268 to €685,072
- Staff costs -€56,767
down €56,767 (-8.8%), from €646,077 to €589,310
- Purchases and services +€52,243
up €52,243 (+27.9%), from €187,571 to €239,814
- Turnover +€7,948
up €7,948 (+3.3%), from €238,596 to €246,544
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,815 | €97,320 | +€12,505 | +14.7% |
| Fixed assets | 21/28 | €35,482 | €38,375 | +€2,893 | +8.2% |
| Tangible fixed assets | 22/27 | €35,482 | €38,375 | +€2,893 | +8.2% |
| Plant, machinery and equipment | 23 | €2,040 | €4,365 | +€2,325 | +114% |
| Furniture and vehicles | 24 | €2,597 | €7,461 | +€4,864 | +187% |
| Other tangible fixed assets | 26 | €30,845 | €26,549 | -€4,296 | -13.9% |
| Current assets | 29/58 | €49,333 | €58,945 | +€9,612 | +19.5% |
| Amounts receivable within one year | 40/41 | €6,452 | €17,024 | +€10,572 | +164% |
| Trade receivables | 40 | €6,117 | €7,095 | +€978 | +16.0% |
| Other amounts receivable | 41 | €335 | €9,929 | +€9,594 | +2,864% |
| Cash at bank and in hand | 54/58 | €28,361 | €32,241 | +€3,880 | +13.7% |
| Deferred charges and accrued income | 490/1 | €14,520 | €9,680 | -€4,840 | -33.3% |
| Total equity and liabilities | 10/49 | €84,815 | €97,320 | +€12,505 | +14.7% |
| Equity | 10/15 | -€210,454 | -€129,166 | +€81,288 | +38.6% |
| Profit (loss) carried forward | 14 | -€210,454 | -€129,166 | +€81,288 | +38.6% |
| Amounts payable | 17/49 | €295,269 | €226,486 | -€68,783 | -23.3% |
| Amounts payable after more than one year | 17 | €50,654 | €23,106 | -€27,548 | -54.4% |
| Financial debts | 170/4 | €50,654 | €23,106 | -€27,548 | -54.4% |
| Amounts payable within one year | 42/48 | €244,615 | €203,380 | -€41,235 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €15,572 | - | -€15,572 | |
| Trade debts | 44 | €129,298 | €86,169 | -€43,129 | -33.4% |
| Suppliers | 440/4 | €129,298 | €86,169 | -€43,129 | -33.4% |
| Advances received on contracts in progress | 46 | €14,850 | €16,650 | +€1,800 | +12.1% |
| Taxes, remuneration and social security | 45 | €81,668 | €100,561 | +€18,893 | +23.1% |
| Taxes | 450/3 | €1,162 | €326 | -€836 | -71.9% |
| Remuneration and social security | 454/9 | €80,506 | €100,235 | +€19,729 | +24.5% |
| Other amounts payable | 47/48 | €3,227 | - | -€3,227 | |
| Turnover | 70 | €238,596 | €246,544 | +€7,948 | +3.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €187,571 | €239,814 | +€52,243 | +27.9% |
| Remuneration, social security and pensions | 62 | €646,077 | €589,310 | -€56,767 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,982 | €6,982 | = | 0.0% |
| Other operating charges | 640/8 | €860 | €2,210 | +€1,350 | +157% |
| Gross operating margin | 9900 | €627,268 | €685,072 | +€57,804 | +9.2% |
| Operating profit (loss) | 9901 | -€26,651 | €86,570 | +€113,221 | |
| Financial charges | 65/66B | €6,868 | €5,132 | -€1,736 | -25.3% |
| Recurring financial charges | 65 | €6,868 | €5,132 | -€1,736 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | -€33,519 | €81,438 | +€114,957 | |
| Income taxes | 67/77 | €176 | €150 | -€26 | -14.8% |
| Profit (loss) for the period | 9904 | -€33,695 | €81,288 | +€114,983 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,695 | €81,288 | +€114,983 |
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 15 October 2026 via checked.be.