GOEROE: 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.
GOEROE
Largest movements
- Receivables within one year -€107,482
down €107,482 (-90.4%), from €118,948 to €11,466
of which Trade receivables: -€108,978
- Cash +€96,081
up €96,081 (+286%), from €33,559 to €129,640
mainly Receivables within one year (+€107,482) and Depreciation (+€10,372)
- Tangible fixed assets -€6,734
down €6,734 (-17.8%), from €37,786 to €31,052
of which Furniture and vehicles: -€8,487
- Current portion of long-term debt -€7,007
down €7,007 (-74.1%), from €9,453 to €2,446
- Tax, wage and social debts -€4,809
down €4,809 (-24.5%), from €19,611 to €14,802
- Debts after one year -€2,446
no longer reported in 2025 (was €2,446)
- Other debts -€2,124
down €2,124 (-12.9%), from €16,523 to €14,399
- Gross operating margin -€47,636
down €47,636 (-77.3%), from €61,645 to €14,009
- Taxes -€9,537
down €9,537 (-95.1%), from €10,030 to €493
- Other operating charges +€984
up €984 (+729%), from €135 to €1,119
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 | €191,037 | €172,855 | -€18,182 | -9.5% |
| Fixed assets | 21/28 | €37,786 | €31,052 | -€6,734 | -17.8% |
| Tangible fixed assets | 22/27 | €37,786 | €31,052 | -€6,734 | -17.8% |
| Plant, machinery and equipment | 23 | - | €499 | +€499 | |
| Furniture and vehicles | 24 | €37,786 | €29,299 | -€8,487 | -22.5% |
| Other tangible fixed assets | 26 | - | €1,254 | +€1,254 | |
| Current assets | 29/58 | €153,251 | €141,803 | -€11,448 | -7.5% |
| Amounts receivable within one year | 40/41 | €118,948 | €11,466 | -€107,482 | -90.4% |
| Trade receivables | 40 | €108,978 | - | -€108,978 | |
| Other amounts receivable | 41 | €9,970 | €11,466 | +€1,496 | +15.0% |
| Cash at bank and in hand | 54/58 | €33,559 | €129,640 | +€96,081 | +286% |
| Deferred charges and accrued income | 490/1 | €744 | €697 | -€47 | -6.3% |
| Total equity and liabilities | 10/49 | €191,037 | €172,855 | -€18,182 | -9.5% |
| Equity | 10/15 | €140,303 | €139,135 | -€1,168 | -0.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €130,000 | €130,000 | = | 0.0% |
| Distributable reserves | 133 | €130,000 | €130,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,303 | €4,135 | -€1,168 | -22.0% |
| Amounts payable | 17/49 | €50,734 | €33,720 | -€17,014 | -33.5% |
| Amounts payable after more than one year | 17 | €2,446 | - | -€2,446 | |
| Financial debts | 170/4 | €2,446 | - | -€2,446 | |
| Amounts payable within one year | 42/48 | €48,288 | €33,720 | -€14,568 | -30.2% |
| Current portion of amounts payable after more than one year | 42 | €9,453 | €2,446 | -€7,007 | -74.1% |
| Trade debts | 44 | €2,701 | €2,073 | -€628 | -23.3% |
| Suppliers | 440/4 | €2,701 | €2,073 | -€628 | -23.3% |
| Taxes, remuneration and social security | 45 | €19,611 | €14,802 | -€4,809 | -24.5% |
| Taxes | 450/3 | €19,611 | €14,802 | -€4,809 | -24.5% |
| Other amounts payable | 47/48 | €16,523 | €14,399 | -€2,124 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,498 | €10,372 | -€126 | -1.2% |
| Other operating charges | 640/8 | €135 | €1,119 | +€984 | +729% |
| Gross operating margin | 9900 | €61,645 | €14,009 | -€47,636 | -77.3% |
| Operating profit (loss) | 9901 | €51,012 | €2,518 | -€48,494 | -95.1% |
| Financial charges | 65/66B | €1,932 | €1,527 | -€405 | -21.0% |
| Recurring financial charges | 65 | €1,932 | €1,527 | -€405 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €49,080 | €991 | -€48,089 | -98.0% |
| Income taxes | 67/77 | €10,030 | €493 | -€9,537 | -95.1% |
| Profit (loss) for the period | 9904 | €39,050 | €498 | -€38,552 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,050 | €498 | -€38,552 | -98.7% |
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.