GOEMAERE MODE: 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.
GOEMAERE MODE
Largest movements
- Tangible fixed assets +€471,258
up €471,258 (+42.5%), from €1.1m to €1.6m
of which Land and buildings: +€421,147
- Cash -€31,220
down €31,220 (-42.9%), from €72,851 to €41,630
mainly Investment in fixed assets (net) (-€585,207) and Receivables within one year (-€27,082)
- Receivables within one year +€27,082
up €27,082 (+257%), from €10,548 to €37,630
of which Trade receivables: +€30,739
- Deferred charges and accrued income -€19,827
down €19,827 (-72.1%), from €27,509 to €7,682
- Stocks and contracts -€19,743
down €19,743 (-7.4%), from €268,581 to €248,838
- Debts after one year +€305,322
up €305,322 (+116%), from €262,263 to €567,585
- Trade debts +€58,858
up €58,858 (+273%), from €21,560 to €80,418
- Short-term financial debts +€49,339
up €49,339 (+28.2%), from €175,000 to €224,339
- Current portion of long-term debt +€35,828
up €35,828 (+80.1%), from €44,716 to €80,544
- Reserves -€19,627
down €19,627 (-2.5%), from €776,149 to €756,522
of which Distributable reserves: -€19,627
- Write-downs -€91,572
down €91,572, from €38,900 to -€52,672
- Staff costs +€33,801
up €33,801 (+13.8%), from €244,831 to €278,633
- Gross operating margin -€33,374
down €33,374 (-8.2%), from €405,601 to €372,227
- Depreciation +€28,613
up €28,613 (+33.5%), from €85,336 to €113,949
- Other operating charges -€6,106
down €6,106 (-31.1%), from €19,621 to €13,514
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 | €1,488,681 | €1,916,231 | +€427,550 | +28.7% |
| Fixed assets | 21/28 | €1,109,192 | €1,580,450 | +€471,258 | +42.5% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €1,109,192 | €1,580,450 | +€471,258 | +42.5% |
| Land and buildings | 22 | €1,095,197 | €1,516,344 | +€421,147 | +38.5% |
| Plant, machinery and equipment | 23 | €12,590 | €17,848 | +€5,258 | +41.8% |
| Furniture and vehicles | 24 | €1,405 | €46,258 | +€44,853 | +3,192% |
| Current assets | 29/58 | €379,489 | €335,781 | -€43,708 | -11.5% |
| Stocks and contracts in progress | 3 | €268,581 | €248,838 | -€19,743 | -7.4% |
| Stocks | 30/36 | €268,581 | €248,838 | -€19,743 | -7.4% |
| Amounts receivable within one year | 40/41 | €10,548 | €37,630 | +€27,082 | +257% |
| Trade receivables | 40 | €6,891 | €37,630 | +€30,739 | +446% |
| Other amounts receivable | 41 | €3,657 | €0 | -€3,657 | -100% |
| Cash at bank and in hand | 54/58 | €72,851 | €41,630 | -€31,220 | -42.9% |
| Deferred charges and accrued income | 490/1 | €27,509 | €7,682 | -€19,827 | -72.1% |
| Total equity and liabilities | 10/49 | €1,488,681 | €1,916,231 | +€427,550 | +28.7% |
| Equity | 10/15 | €901,149 | €881,522 | -€19,627 | -2.2% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €776,149 | €756,522 | -€19,627 | -2.5% |
| Non-distributable reserves | 130/1 | €22,238 | €22,238 | = | 0.0% |
| Legal reserve | 130 | €22,238 | €22,238 | = | 0.0% |
| Distributable reserves | 133 | €753,911 | €734,284 | -€19,627 | -2.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €587,533 | €1,034,710 | +€447,177 | +76.1% |
| Amounts payable after more than one year | 17 | €262,263 | €567,585 | +€305,322 | +116% |
| Financial debts | 170/4 | €262,263 | €567,585 | +€305,322 | +116% |
| Amounts payable within one year | 42/48 | €318,391 | €467,125 | +€148,734 | +46.7% |
| Current portion of amounts payable after more than one year | 42 | €44,716 | €80,544 | +€35,828 | +80.1% |
| Financial debts | 43 | €175,000 | €224,339 | +€49,339 | +28.2% |
| Credit institutions | 430/8 | €175,000 | €224,339 | +€49,339 | +28.2% |
| Trade debts | 44 | €21,560 | €80,418 | +€58,858 | +273% |
| Suppliers | 440/4 | €21,560 | €80,418 | +€58,858 | +273% |
| Taxes, remuneration and social security | 45 | €77,115 | €74,022 | -€3,092 | -4.0% |
| Taxes | 450/3 | €31,794 | €27,315 | -€4,479 | -14.1% |
| Remuneration and social security | 454/9 | €45,321 | €46,707 | +€1,386 | +3.1% |
| Other amounts payable | 47/48 | - | €7,802 | +€7,802 | |
| Accrued charges and deferred income | 492/3 | €6,879 | €0 | -€6,879 | -100% |
| Non-recurring operating income | 76A | - | €800 | +€800 | |
| Remuneration, social security and pensions | 62 | €244,831 | €278,633 | +€33,801 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,336 | €113,949 | +€28,613 | +33.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €38,900 | -€52,672 | -€91,572 | |
| Other operating charges | 640/8 | €19,621 | €13,514 | -€6,106 | -31.1% |
| Gross operating margin | 9900 | €405,601 | €372,227 | -€33,374 | -8.2% |
| Operating profit (loss) | 9901 | €16,913 | €18,803 | +€1,890 | +11.2% |
| Financial income | 75/76B | €20,956 | €16,618 | -€4,338 | -20.7% |
| Recurring financial income | 75 | €20,956 | €16,618 | -€4,338 | -20.7% |
| Financial charges | 65/66B | €28,940 | €29,797 | +€858 | +3.0% |
| Recurring financial charges | 65 | €28,940 | €29,797 | +€858 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €8,930 | €5,624 | -€3,306 | -37.0% |
| Income taxes | 67/77 | €5,914 | €352 | -€5,562 | -94.1% |
| Profit (loss) for the period | 9904 | €3,016 | €5,272 | +€2,256 | +74.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,016 | €5,272 | +€2,256 | +74.8% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.