GOED GEMUTST: 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
GOED GEMUTST
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1,050
2024 · €4,038-€5,088
Equity
€58,066
2024 · €63,400-€5,334
Cash
€1,817
2024 · €3,580-€1,763
Balance sheet total
€471,567
2024 · €514,468-€42,901
Largest movements
Assets
- Tangible fixed assets -€40,687
down €40,687 (-8.2%), from €493,603 to €452,916
of which Land and buildings: -€39,385
Equity and liabilities
- Debts after one year -€35,720
down €35,720 (-10.5%), from €338,907 to €303,188
- Investment grants -€8,835
down €8,835 (-6.8%), from €130,123 to €121,287
Income statement
- Financial income -€4,213
down €4,213 (-45.7%), from €9,214 to €5,001
- Gross operating margin +€3,952
up €3,952 (+7.2%), from €54,571 to €58,523
- Taxes +€1,637
up €1,637 (+2843.3%), from €58 to €1,694
- Depreciation -€1,519
down €1,519 (-3.5%), from €43,084 to €41,565
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
€4,038
Gross operating margin
+€3,952
Depreciation
+€1,519
Other operating charges
-€566
Financial income
-€4,213
Financial charges
+€407
Taxes
-€1,637
Deferred taxes and other
-€4,552
Result 2025
-€1,050
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
+€37,583
Investment
-€879
Financing
-€38,467
Cash 2024
€3,580
From operations (derived)
+€37,583
Net result for the year
-€1,050
Depreciation
+€41,565
Receivables within one year
+€586
Deferred charges and accrued income
-€134
Provisions
-€4,552
Trade debts
-€234
Tax, wage and social debts
+€1,622
Other debts
+€1,595
Accrued charges and deferred income
-€1,815
Investment (derived)
-€879
Investment in fixed assets (net)
-€879
Financing
-€38,467
Debts after one year
-€35,720
Current portion of long-term debt
+€1,536
Contributions, distributions and other
-€4,284
Cash 2025
€1,817
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €514,468 | €471,567 | -€42,901 | -8.3% |
| Fixed assets | 21/28 | €493,603 | €452,916 | -€40,687 | -8.2% |
| Tangible fixed assets | 22/27 | €493,603 | €452,916 | -€40,687 | -8.2% |
| Land and buildings | 22 | €491,423 | €452,037 | -€39,385 | -8.0% |
| Plant, machinery and equipment | 23 | - | €879 | +€879 | |
| Furniture and vehicles | 24 | €2,180 | - | -€2,180 | |
| Current assets | 29/58 | €20,866 | €18,651 | -€2,214 | -10.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €17,221 | €16,636 | -€586 | -3.4% |
| Trade receivables | 40 | €1,250 | €1,250 | = | 0.0% |
| Other amounts receivable | 41 | €15,971 | €15,386 | -€586 | -3.7% |
| Cash at bank and in hand | 54/58 | €3,580 | €1,817 | -€1,763 | -49.3% |
| Deferred charges and accrued income | 490/1 | €64 | €199 | +€134 | +208.7% |
| Total equity and liabilities | 10/49 | €514,468 | €471,567 | -€42,901 | -8.3% |
| Equity | 10/15 | €63,400 | €58,066 | -€5,334 | -8.4% |
| Contributions | 10/11 | €9,332 | €9,332 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,055 | -€72,554 | +€3,501 | +4.6% |
| Investment grants | 15 | €130,123 | €121,287 | -€8,835 | -6.8% |
| Provisions and deferred taxes | 16 | €67,033 | €62,481 | -€4,552 | -6.8% |
| Deferred taxes | 168 | €67,033 | €62,481 | -€4,552 | -6.8% |
| Amounts payable | 17/49 | €384,035 | €351,020 | -€33,015 | -8.6% |
| Amounts payable after more than one year | 17 | €338,907 | €303,188 | -€35,720 | -10.5% |
| Financial debts | 170/4 | €338,907 | €303,188 | -€35,720 | -10.5% |
| Amounts payable within one year | 42/48 | €43,313 | €47,832 | +€4,519 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €38,735 | €40,271 | +€1,536 | +4.0% |
| Trade debts | 44 | €4,521 | €4,286 | -€234 | -5.2% |
| Suppliers | 440/4 | €4,521 | €4,286 | -€234 | -5.2% |
| Taxes, remuneration and social security | 45 | €58 | €1,680 | +€1,622 | +2818.3% |
| Taxes | 450/3 | €58 | €1,680 | +€1,622 | +2818.3% |
| Other amounts payable | 47/48 | - | €1,595 | +€1,595 | |
| Accrued charges and deferred income | 492/3 | €1,815 | - | -€1,815 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,084 | €41,565 | -€1,519 | -3.5% |
| Other operating charges | 640/8 | €4,355 | €4,921 | +€566 | +13.0% |
| Gross operating margin | 9900 | €54,571 | €58,523 | +€3,952 | +7.2% |
| Operating profit (loss) | 9901 | €7,132 | €12,037 | +€4,905 | +68.8% |
| Financial income | 75/76B | €9,214 | €5,001 | -€4,213 | -45.7% |
| Recurring financial income | 75 | €9,214 | €5,001 | -€4,213 | -45.7% |
| Financial charges | 65/66B | €16,802 | €16,394 | -€407 | -2.4% |
| Recurring financial charges | 65 | €16,802 | €15,093 | -€1,709 | -10.2% |
| Non-recurring financial charges | 66B | - | €1,302 | +€1,302 | |
| Profit (loss) for the period before taxes | 9903 | -€456 | €644 | +€1,100 | |
| Transfer from deferred taxes | 780 | €4,552 | - | -€4,552 | |
| Income taxes | 67/77 | €58 | €1,694 | +€1,637 | +2843.3% |
| Profit (loss) for the period | 9904 | €4,038 | -€1,050 | -€5,088 | |
| Transfer from tax-exempt reserves | 789 | - | €4,552 | +€4,552 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,038 | €3,501 | -€537 | -13.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.