GOEDERT SERGE: 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.
GOEDERT SERGE
Largest movements
- Cash +€262,442
up €262,442 (+21.5%), from €1.2m to €1.5m
mainly Net result for the year (+€304,929) and Depreciation (+€202,173)
- Receivables within one year -€118,122
down €118,122 (-31.0%), from €381,218 to €263,095
of which Trade receivables: -€118,677
- Tangible fixed assets -€91,160
down €91,160 (-12.0%), from €761,487 to €670,327
of which Leasing and similar rights: -€63,650
- Reserves +€199,666
up €199,666 (+14.5%), from €1.4m to €1.6m
of which Tax-exempt reserves: +€123,880
- Tax, wage and social debts -€156,207
down €156,207 (-47.5%), from €329,069 to €172,862
of which Taxes: -€168,541
- Current portion of long-term debt -€102,666
down €102,666 (-66.2%), from €155,039 to €52,373
- Other debts +€98,596
up €98,596 (+47.1%), from €209,297 to €307,893
- Accrued charges and deferred income -€79,812
down €79,812 (-100%), from €79,812 to €0
- Staff costs +€57,608
up €57,608 (+6.2%), from €935,586 to €993,194
- Taxes -€30,333
down €30,333 (-20.7%), from €146,398 to €116,065
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 | €3,213,773 | €3,255,947 | +€42,174 | +1.3% |
| Fixed assets | 21/28 | €763,120 | €671,960 | -€91,160 | -11.9% |
| Tangible fixed assets | 22/27 | €761,487 | €670,327 | -€91,160 | -12.0% |
| Land and buildings | 22 | €21,918 | €19,792 | -€2,126 | -9.7% |
| Plant, machinery and equipment | 23 | €5,718 | €4,671 | -€1,047 | -18.3% |
| Furniture and vehicles | 24 | €670,202 | €645,864 | -€24,337 | -3.6% |
| Leasing and similar rights | 25 | €63,650 | €0 | -€63,650 | -100% |
| Financial fixed assets | 28 | €1,633 | €1,633 | = | 0.0% |
| Current assets | 29/58 | €2,450,653 | €2,583,987 | +€133,334 | +5.4% |
| Amounts receivable within one year | 40/41 | €381,218 | €263,095 | -€118,122 | -31.0% |
| Trade receivables | 40 | €381,011 | €262,334 | -€118,677 | -31.1% |
| Other amounts receivable | 41 | €207 | €761 | +€554 | +268% |
| Current investments | 50/53 | €786,618 | €786,618 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,218,859 | €1,481,302 | +€262,442 | +21.5% |
| Deferred charges and accrued income | 490/1 | €63,958 | €52,972 | -€10,986 | -17.2% |
| Total equity and liabilities | 10/49 | €3,213,773 | €3,255,947 | +€42,174 | +1.3% |
| Equity | 10/15 | €2,322,853 | €2,522,519 | +€199,666 | +8.6% |
| Contributions | 10/11 | €8,171 | €8,171 | = | 0.0% |
| Reserves | 13 | €1,377,542 | €1,577,208 | +€199,666 | +14.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €435,381 | €559,261 | +€123,880 | +28.5% |
| Distributable reserves | 133 | €940,302 | €1,016,088 | +€75,786 | +8.1% |
| Profit (loss) carried forward | 14 | €937,141 | €937,141 | = | 0.0% |
| Amounts payable | 17/49 | €890,920 | €733,429 | -€157,491 | -17.7% |
| Amounts payable after more than one year | 17 | €42,744 | €31,825 | -€10,918 | -25.5% |
| Financial debts | 170/4 | €42,744 | €31,825 | -€10,918 | -25.5% |
| Amounts payable within one year | 42/48 | €768,365 | €701,603 | -€66,761 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €155,039 | €52,373 | -€102,666 | -66.2% |
| Trade debts | 44 | €43,441 | €102,543 | +€59,102 | +136% |
| Suppliers | 440/4 | €43,441 | €102,543 | +€59,102 | +136% |
| Advances received on contracts in progress | 46 | €31,519 | €65,933 | +€34,414 | +109% |
| Taxes, remuneration and social security | 45 | €329,069 | €172,862 | -€156,207 | -47.5% |
| Taxes | 450/3 | €220,809 | €52,268 | -€168,541 | -76.3% |
| Remuneration and social security | 454/9 | €108,260 | €120,594 | +€12,334 | +11.4% |
| Other amounts payable | 47/48 | €209,297 | €307,893 | +€98,596 | +47.1% |
| Accrued charges and deferred income | 492/3 | €79,812 | €0 | -€79,812 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €935,586 | €993,194 | +€57,608 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,124 | €202,173 | +€4,049 | +2.0% |
| Other operating charges | 640/8 | €22,716 | €24,833 | +€2,118 | +9.3% |
| Gross operating margin | 9900 | €1,653,183 | €1,649,697 | -€3,486 | -0.2% |
| Operating profit (loss) | 9901 | €496,758 | €429,497 | -€67,261 | -13.5% |
| Financial income | 75/76B | €5,648 | €5,527 | -€121 | -2.1% |
| Recurring financial income | 75 | €5,648 | €5,527 | -€121 | -2.1% |
| Financial charges | 65/66B | €12,337 | €14,029 | +€1,693 | +13.7% |
| Recurring financial charges | 65 | €12,337 | €11,139 | -€1,197 | -9.7% |
| Non-recurring financial charges | 66B | - | €2,890 | +€2,890 | |
| Profit (loss) for the period before taxes | 9903 | €490,069 | €420,994 | -€69,075 | -14.1% |
| Income taxes | 67/77 | €146,398 | €116,065 | -€30,333 | -20.7% |
| Profit (loss) for the period | 9904 | €343,671 | €304,929 | -€38,742 | -11.3% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €44,500 | €123,880 | +€79,380 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €299,171 | €181,049 | -€118,122 | -39.5% |
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 28 October 2026 via checked.be.