GOEDAM: 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
GOEDAM
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€88,471
2024 · €71,902+€16,569
Equity
€722,685
2024 · €732,685-€10,000
Cash
€475,894
2024 · €383,668+€92,226
Balance sheet total
€987,673
2024 · €896,106+€91,567
Largest movements
Assets
- Cash +€92,226
up €92,226 (+24.0%), from €383,668 to €475,894
mainly Net result for the year (+€88,471) and Other debts (+€78,096)
Equity and liabilities
- Other debts +€78,096
up €78,096 (+96.6%), from €80,838 to €158,933
- Trade debts +€17,619
up €17,619 (+25.9%), from €67,928 to €85,546
- Profit (loss) carried forward -€10,000
down €10,000 (-4.8%), from €210,000 to €200,000
Income statement
- Gross operating margin +€19,707
up €19,707 (+9.7%), from €203,411 to €223,118
- Taxes +€2,777
up €2,777 (+25.4%), from €10,922 to €13,699
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
€71,902
Gross operating margin
+€19,707
Staff costs
+€2,125
Depreciation
-€900
Other operating charges
+€44
Financial income
-€303
Financial charges
-€1,326
Taxes
-€2,777
Result 2025
€88,471
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
+€213,013
Investment
-€22,316
Financing
-€98,471
Cash 2024
€383,668
From operations (derived)
+€213,013
Net result for the year
+€88,471
Depreciation
+€21,598
Stocks and contracts
+€7,133
Receivables within one year
-€8,197
Deferred charges and accrued income
+€2,440
Trade debts
+€17,619
Tax, wage and social debts
+€5,893
Other debts
+€78,096
Accrued charges and deferred income
-€40
Investment (derived)
-€22,316
Investment in fixed assets (net)
-€28,316
Current investments
+€6,000
Financing
-€98,471
Contributions, distributions and other
-€98,471
Cash 2025
€475,894
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €896,106 | €987,673 | +€91,567 | +10.2% |
| Fixed assets | 21/28 | €98,778 | €105,495 | +€6,717 | +6.8% |
| Tangible fixed assets | 22/27 | €98,778 | €105,495 | +€6,717 | +6.8% |
| Land and buildings | 22 | €8,924 | €8,924 | = | 0.0% |
| Plant, machinery and equipment | 23 | €76,731 | €84,706 | +€7,975 | +10.4% |
| Furniture and vehicles | 24 | €4,199 | €2,941 | -€1,258 | -30.0% |
| Other tangible fixed assets | 26 | €8,924 | €8,924 | = | 0.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €797,328 | €882,178 | +€84,850 | +10.6% |
| Stocks and contracts in progress | 3 | €199,368 | €192,235 | -€7,133 | -3.6% |
| Stocks | 30/36 | €199,368 | €192,235 | -€7,133 | -3.6% |
| Amounts receivable within one year | 40/41 | €106,927 | €115,124 | +€8,197 | +7.7% |
| Trade receivables | 40 | €100,013 | €108,527 | +€8,514 | +8.5% |
| Other amounts receivable | 41 | €6,914 | €6,597 | -€317 | -4.6% |
| Current investments | 50/53 | €94,000 | €88,000 | -€6,000 | -6.4% |
| Cash at bank and in hand | 54/58 | €383,668 | €475,894 | +€92,226 | +24.0% |
| Deferred charges and accrued income | 490/1 | €13,365 | €10,925 | -€2,440 | -18.3% |
| Total equity and liabilities | 10/49 | €896,106 | €987,673 | +€91,567 | +10.2% |
| Equity | 10/15 | €732,685 | €722,685 | -€10,000 | -1.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €504,093 | €504,093 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,629 | €22,629 | = | 0.0% |
| Distributable reserves | 133 | €481,464 | €481,464 | = | 0.0% |
| Profit (loss) carried forward | 14 | €210,000 | €200,000 | -€10,000 | -4.8% |
| Amounts payable | 17/49 | €163,421 | €264,988 | +€101,567 | +62.2% |
| Amounts payable within one year | 42/48 | €162,672 | €264,279 | +€101,607 | +62.5% |
| Trade debts | 44 | €67,928 | €85,546 | +€17,619 | +25.9% |
| Suppliers | 440/4 | €67,928 | €85,546 | +€17,619 | +25.9% |
| Taxes, remuneration and social security | 45 | €13,906 | €19,799 | +€5,893 | +42.4% |
| Taxes | 450/3 | €15 | €2,032 | +€2,017 | +13,458% |
| Remuneration and social security | 454/9 | €13,891 | €17,766 | +€3,875 | +27.9% |
| Other amounts payable | 47/48 | €80,838 | €158,933 | +€78,096 | +96.6% |
| Accrued charges and deferred income | 492/3 | €749 | €709 | -€40 | -5.3% |
| Remuneration, social security and pensions | 62 | €101,056 | €98,931 | -€2,125 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,698 | €21,598 | +€900 | +4.3% |
| Other operating charges | 640/8 | €360 | €316 | -€44 | -12.3% |
| Gross operating margin | 9900 | €203,411 | €223,118 | +€19,707 | +9.7% |
| Operating profit (loss) | 9901 | €81,297 | €102,272 | +€20,975 | +25.8% |
| Financial income | 75/76B | €3,207 | €2,904 | -€303 | -9.5% |
| Recurring financial income | 75 | €3,207 | €2,904 | -€303 | -9.5% |
| Financial charges | 65/66B | €1,680 | €3,006 | +€1,326 | +78.9% |
| Recurring financial charges | 65 | €1,680 | €3,006 | +€1,326 | +78.9% |
| Profit (loss) for the period before taxes | 9903 | €82,824 | €102,170 | +€19,346 | +23.4% |
| Income taxes | 67/77 | €10,922 | €13,699 | +€2,777 | +25.4% |
| Profit (loss) for the period | 9904 | €71,902 | €88,471 | +€16,569 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,902 | €88,471 | +€16,569 | +23.0% |
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 13 October 2026 via checked.be.