Goetgeluck: 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.
Goetgeluck
Largest movements
- Cash -€21,740
down €21,740 (-92.8%), from €23,439 to €1,698
mainly Contributions, distributions and other (-€166,437) and Other debts (-€93,133)
- Receivables within one year +€13,692
up €13,692 (+3,524%), from €388 to €14,080
of which Trade receivables: +€13,692
- Debts after one year +€160,000
new in 2025: €160,000
- Other debts -€93,133
down €93,133 (-46.6%), from €199,918 to €106,784
- Reserves -€90,861
down €90,861 (-25.3%), from €359,549 to €268,688
of which Distributable reserves: -€90,861
- Tax, wage and social debts +€14,784
up €14,784 (+48.1%), from €30,745 to €45,530
- Accrued charges and deferred income +€11,474
new in 2025: €11,474
- Gross operating margin -€25,731
down €25,731 (-17.3%), from €148,320 to €122,589
- Financial charges -€7,212
down €7,212 (-36.6%), from €19,694 to €12,482
- Financial income +€2,476
up €2,476 (+704%), from €352 to €2,828
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 | €609,920 | €611,415 | +€1,496 | +0.2% |
| Fixed assets | 21/28 | €576,426 | €580,257 | +€3,831 | +0.7% |
| Tangible fixed assets | 22/27 | €86 | €3,917 | +€3,831 | +4,430% |
| Furniture and vehicles | 24 | €86 | €3,917 | +€3,831 | +4,430% |
| Financial fixed assets | 28 | €576,340 | €576,340 | = | 0.0% |
| Current assets | 29/58 | €33,493 | €31,158 | -€2,335 | -7.0% |
| Amounts receivable within one year | 40/41 | €388 | €14,080 | +€13,692 | +3,524% |
| Trade receivables | 40 | €0 | €13,692 | +€13,692 | |
| Other amounts receivable | 41 | €388 | €388 | = | 0.0% |
| Current investments | 50/53 | €9,269 | €14,931 | +€5,662 | +61.1% |
| Cash at bank and in hand | 54/58 | €23,439 | €1,698 | -€21,740 | -92.8% |
| Deferred charges and accrued income | 490/1 | €397 | €449 | +€51 | +12.9% |
| Total equity and liabilities | 10/49 | €609,920 | €611,415 | +€1,496 | +0.2% |
| Equity | 10/15 | €378,099 | €287,238 | -€90,861 | -24.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €359,549 | €268,688 | -€90,861 | -25.3% |
| Tax-exempt reserves | 132 | €50,689 | €50,689 | = | 0.0% |
| Distributable reserves | 133 | €308,860 | €217,999 | -€90,861 | -29.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €231,821 | €324,177 | +€92,357 | +39.8% |
| Amounts payable after more than one year | 17 | - | €160,000 | +€160,000 | |
| Financial debts | 170/4 | - | €160,000 | +€160,000 | |
| Amounts payable within one year | 42/48 | €231,821 | €152,704 | -€79,117 | -34.1% |
| Trade debts | 44 | €1,158 | €390 | -€768 | -66.3% |
| Suppliers | 440/4 | €1,158 | €390 | -€768 | -66.3% |
| Taxes, remuneration and social security | 45 | €30,745 | €45,530 | +€14,784 | +48.1% |
| Taxes | 450/3 | €30,745 | €45,530 | +€14,784 | +48.1% |
| Other amounts payable | 47/48 | €199,918 | €106,784 | -€93,133 | -46.6% |
| Accrued charges and deferred income | 492/3 | - | €11,474 | +€11,474 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €376 | €929 | +€553 | +147% |
| Other operating charges | 640/8 | €578 | €544 | -€34 | -5.9% |
| Gross operating margin | 9900 | €148,320 | €122,589 | -€25,731 | -17.3% |
| Operating profit (loss) | 9901 | €147,367 | €121,117 | -€26,250 | -17.8% |
| Financial income | 75/76B | €352 | €2,828 | +€2,476 | +704% |
| Recurring financial income | 75 | €352 | €2,828 | +€2,476 | +704% |
| Financial charges | 65/66B | €19,694 | €12,482 | -€7,212 | -36.6% |
| Recurring financial charges | 65 | €19,694 | €12,482 | -€7,212 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | €128,024 | €111,463 | -€16,561 | -12.9% |
| Income taxes | 67/77 | €35,880 | €35,887 | +€7 | 0.0% |
| Profit (loss) for the period | 9904 | €92,145 | €75,576 | -€16,569 | -18.0% |
| Transfer to tax-exempt reserves | 689 | €50,520 | €0 | -€50,520 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €41,625 | €75,576 | +€33,951 | +81.6% |
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 18 October 2026 via checked.be.