GOEDERS: 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.
GOEDERS
Largest movements
- Cash +€209,773
up €209,773 (+82.5%), from €254,252 to €464,025
mainly Net result for the year (+€140,263) and Receivables within one year (+€91,932)
- Receivables within one year -€91,932
down €91,932 (-49.6%), from €185,500 to €93,568
of which Trade receivables: -€89,212
- Reserves +€140,263
up €140,263 (+104.3%), from €134,455 to €274,718
of which Distributable reserves: +€140,263
- Trade debts +€34,912
up €34,912 (+35.9%), from €97,381 to €132,294
- Debts after one year -€31,850
down €31,850 (-11.1%), from €287,734 to €255,884
- Staff costs +€54,623
up €54,623 (+40.7%), from €134,068 to €188,691
- Gross operating margin +€36,661
up €36,661 (+8.4%), from €435,102 to €471,763
- Taxes +€17,435
up €17,435 (+33.1%), from €52,666 to €70,101
- Other operating charges -€6,543
down €6,543 (-45.1%), from €14,512 to €7,969
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 | €718,698 | €845,209 | +€126,511 | +17.6% |
| Fixed assets | 21/28 | €213,298 | €220,013 | +€6,716 | +3.1% |
| Tangible fixed assets | 22/27 | €213,298 | €220,013 | +€6,716 | +3.1% |
| Land and buildings | 22 | €111,965 | €106,577 | -€5,387 | -4.8% |
| Plant, machinery and equipment | 23 | €73,700 | €75,887 | +€2,187 | +3.0% |
| Furniture and vehicles | 24 | €27,634 | €37,549 | +€9,916 | +35.9% |
| Current assets | 29/58 | €505,400 | €625,196 | +€119,796 | +23.7% |
| Stocks and contracts in progress | 3 | €64,757 | €64,442 | -€315 | -0.5% |
| Stocks | 30/36 | €64,757 | €64,442 | -€315 | -0.5% |
| Amounts receivable within one year | 40/41 | €185,500 | €93,568 | -€91,932 | -49.6% |
| Trade receivables | 40 | €182,293 | €93,082 | -€89,212 | -48.9% |
| Other amounts receivable | 41 | €3,206 | €486 | -€2,720 | -84.8% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €254,252 | €464,025 | +€209,773 | +82.5% |
| Deferred charges and accrued income | 490/1 | €890 | €3,160 | +€2,270 | +255.0% |
| Total equity and liabilities | 10/49 | €718,698 | €845,209 | +€126,511 | +17.6% |
| Equity | 10/15 | €197,175 | €329,799 | +€132,625 | +67.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €134,455 | €274,718 | +€140,263 | +104.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €247 | €247 | = | 0.0% |
| Distributable reserves | 133 | €132,348 | €272,611 | +€140,263 | +106.0% |
| Investment grants | 15 | €44,120 | €36,482 | -€7,639 | -17.3% |
| Amounts payable | 17/49 | €521,523 | €515,410 | -€6,113 | -1.2% |
| Amounts payable after more than one year | 17 | €287,734 | €255,884 | -€31,850 | -11.1% |
| Financial debts | 170/4 | €287,734 | €255,884 | -€31,850 | -11.1% |
| Amounts payable within one year | 42/48 | €233,389 | €259,126 | +€25,737 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €64,381 | €57,523 | -€6,858 | -10.7% |
| Trade debts | 44 | €97,381 | €132,294 | +€34,912 | +35.9% |
| Suppliers | 440/4 | €97,381 | €132,294 | +€34,912 | +35.9% |
| Taxes, remuneration and social security | 45 | €64,736 | €68,889 | +€4,153 | +6.4% |
| Taxes | 450/3 | €52,345 | €40,643 | -€11,702 | -22.4% |
| Remuneration and social security | 454/9 | €12,391 | €28,246 | +€15,855 | +128.0% |
| Other amounts payable | 47/48 | €6,890 | €420 | -€6,471 | -93.9% |
| Accrued charges and deferred income | 492/3 | €400 | €400 | = | 0.0% |
| Non-recurring operating income | 76A | €1,587 | €6,270 | +€4,682 | +295.0% |
| Remuneration, social security and pensions | 62 | €134,068 | €188,691 | +€54,623 | +40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,626 | €52,781 | -€1,844 | -3.4% |
| Other operating charges | 640/8 | €14,512 | €7,969 | -€6,543 | -45.1% |
| Non-recurring operating charges | 66A | €151 | €928 | +€777 | +514.4% |
| Gross operating margin | 9900 | €435,102 | €471,763 | +€36,661 | +8.4% |
| Operating profit (loss) | 9901 | €231,745 | €221,393 | -€10,352 | -4.5% |
| Financial income | 75/76B | €7,639 | €7,639 | = | 0.0% |
| Recurring financial income | 75 | €7,639 | €7,639 | = | 0.0% |
| Financial charges | 65/66B | €18,511 | €18,668 | +€158 | +0.9% |
| Recurring financial charges | 65 | €18,511 | €18,668 | +€158 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €220,873 | €210,364 | -€10,509 | -4.8% |
| Income taxes | 67/77 | €52,666 | €70,101 | +€17,435 | +33.1% |
| Profit (loss) for the period | 9904 | €168,207 | €140,263 | -€27,944 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €168,207 | €140,263 | -€27,944 | -16.6% |
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 6 October 2026 via checked.be.