GOEDT: 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.
GOEDT
Largest movements
- Tangible fixed assets -€60,855
down €60,855 (-8.7%), from €701,960 to €641,105
of which Land and buildings: -€78,062
- Cash +€15,700
up €15,700 (+103%), from €15,198 to €30,898
mainly Depreciation (+€89,002) and Current portion of long-term debt (+€5,543)
- Debts after one year -€32,541
down €32,541 (-7.0%), from €466,937 to €434,396
- Gross operating margin +€47,675
up €47,675 (+70.5%), from €67,658 to €115,333
- Depreciation +€23,365
up €23,365 (+35.6%), from €65,638 to €89,002
- Financial charges +€6,762
up €6,762 (+34.8%), from €19,414 to €26,177
- Other operating charges -€4,553
down €4,553 (-51.8%), from €8,795 to €4,242
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 | €739,888 | €698,385 | -€41,503 | -5.6% |
| Fixed assets | 21/28 | €711,031 | €648,985 | -€62,047 | -8.7% |
| Intangible fixed assets | 21 | €5,071 | €3,879 | -€1,192 | -23.5% |
| Tangible fixed assets | 22/27 | €701,960 | €641,105 | -€60,855 | -8.7% |
| Land and buildings | 22 | €685,950 | €607,888 | -€78,062 | -11.4% |
| Plant, machinery and equipment | 23 | €12,775 | €15,754 | +€2,980 | +23.3% |
| Furniture and vehicles | 24 | €3,236 | €17,463 | +€14,227 | +440% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €28,856 | €49,400 | +€20,544 | +71.2% |
| Amounts receivable within one year | 40/41 | €13,658 | €15,917 | +€2,259 | +16.5% |
| Trade receivables | 40 | €13,658 | €14,590 | +€932 | +6.8% |
| Other amounts receivable | 41 | €0 | €1,327 | +€1,327 | |
| Cash at bank and in hand | 54/58 | €15,198 | €30,898 | +€15,700 | +103% |
| Deferred charges and accrued income | 490/1 | - | €2,585 | +€2,585 | |
| Total equity and liabilities | 10/49 | €739,888 | €698,385 | -€41,503 | -5.6% |
| Equity | 10/15 | €25,426 | €21,343 | -€4,082 | -16.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €10,000 | €8,943 | -€1,057 | -10.6% |
| Distributable reserves | 133 | €10,000 | €8,943 | -€1,057 | -10.6% |
| Profit (loss) carried forward | 14 | €3,026 | €0 | -€3,026 | -100% |
| Amounts payable | 17/49 | €714,462 | €677,042 | -€37,420 | -5.2% |
| Amounts payable after more than one year | 17 | €466,937 | €434,396 | -€32,541 | -7.0% |
| Financial debts | 170/4 | €466,937 | €434,396 | -€32,541 | -7.0% |
| Amounts payable within one year | 42/48 | €241,327 | €231,449 | -€9,877 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €44,442 | €49,986 | +€5,543 | +12.5% |
| Trade debts | 44 | €5,327 | €2,940 | -€2,387 | -44.8% |
| Suppliers | 440/4 | €5,327 | €2,940 | -€2,387 | -44.8% |
| Advances received on contracts in progress | 46 | €9,304 | €9,304 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €14,680 | €7,968 | -€6,713 | -45.7% |
| Taxes | 450/3 | €14,680 | €7,968 | -€6,713 | -45.7% |
| Other amounts payable | 47/48 | €167,573 | €161,252 | -€6,321 | -3.8% |
| Accrued charges and deferred income | 492/3 | €6,198 | €11,196 | +€4,997 | +80.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,638 | €89,002 | +€23,365 | +35.6% |
| Other operating charges | 640/8 | €8,795 | €4,242 | -€4,553 | -51.8% |
| Gross operating margin | 9900 | €67,658 | €115,333 | +€47,675 | +70.5% |
| Operating profit (loss) | 9901 | -€6,775 | €22,088 | +€28,863 | |
| Financial income | 75/76B | €0 | €9 | +€9 | +30,300% |
| Recurring financial income | 75 | €0 | €9 | +€9 | +30,300% |
| Financial charges | 65/66B | €19,414 | €26,177 | +€6,762 | +34.8% |
| Recurring financial charges | 65 | €19,414 | €26,177 | +€6,762 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | -€26,189 | -€4,080 | +€22,110 | +84.4% |
| Income taxes | 67/77 | - | €3 | +€3 | |
| Profit (loss) for the period | 9904 | -€26,189 | -€4,082 | +€22,107 | +84.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,189 | -€4,082 | +€22,107 | +84.4% |
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 14 October 2026 via checked.be.