GOETHALS: 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.
GOETHALS
Largest movements
- Receivables within one year -€69,826
down €69,826 (-18.0%), from €388,225 to €318,399
of which Other amounts receivable: -€47,867
- Tangible fixed assets -€24,013
down €24,013 (-62.5%), from €38,428 to €14,416
of which Land and buildings: -€22,942
- Cash +€11,892
up €11,892 (+61.1%), from €19,465 to €31,358
mainly Receivables within one year (+€69,826) and Net result for the year (+€28,497)
- Debts after one year -€27,298
down €27,298 (-86.0%), from €31,759 to €4,461
- Other debts -€21,503
down €21,503 (-43.0%), from €50,000 to €28,497
- Trade debts -€19,397
down €19,397 (-22.0%), from €88,031 to €68,635
- Current portion of long-term debt -€14,843
down €14,843 (-35.2%), from €42,141 to €27,298
- Accrued charges and deferred income +€9,600
up €9,600 (+100%), from €9,600 to €19,200
- Staff costs -€8,697
down €8,697 (-10.2%), from €85,506 to €76,809
- Taxes +€2,648
up €2,648 (+36.0%), from €7,360 to €10,008
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 | €560,035 | €475,802 | -€84,233 | -15.0% |
| Fixed assets | 21/28 | €38,428 | €14,416 | -€24,013 | -62.5% |
| Tangible fixed assets | 22/27 | €38,428 | €14,416 | -€24,013 | -62.5% |
| Land and buildings | 22 | €37,357 | €14,416 | -€22,942 | -61.4% |
| Plant, machinery and equipment | 23 | €140 | €0 | -€140 | -100% |
| Furniture and vehicles | 24 | €931 | €0 | -€931 | -100% |
| Current assets | 29/58 | €521,607 | €461,386 | -€60,220 | -11.5% |
| Stocks and contracts in progress | 3 | €113,597 | €110,830 | -€2,767 | -2.4% |
| Stocks | 30/36 | €113,597 | €110,830 | -€2,767 | -2.4% |
| Amounts receivable within one year | 40/41 | €388,225 | €318,399 | -€69,826 | -18.0% |
| Trade receivables | 40 | €74,918 | €52,959 | -€21,959 | -29.3% |
| Other amounts receivable | 41 | €313,307 | €265,440 | -€47,867 | -15.3% |
| Cash at bank and in hand | 54/58 | €19,465 | €31,358 | +€11,892 | +61.1% |
| Deferred charges and accrued income | 490/1 | €320 | €800 | +€480 | +150% |
| Total equity and liabilities | 10/49 | €560,035 | €475,802 | -€84,233 | -15.0% |
| Equity | 10/15 | €307,235 | €307,235 | = | 0.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €288,643 | €288,643 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €286,784 | €286,784 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €252,800 | €168,567 | -€84,233 | -33.3% |
| Amounts payable after more than one year | 17 | €31,759 | €4,461 | -€27,298 | -86.0% |
| Financial debts | 170/4 | €31,759 | €4,461 | -€27,298 | -86.0% |
| Amounts payable within one year | 42/48 | €211,441 | €144,906 | -€66,535 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €42,141 | €27,298 | -€14,843 | -35.2% |
| Financial debts | 43 | €12,548 | €8,357 | -€4,191 | -33.4% |
| Credit institutions | 430/8 | €12,548 | €8,357 | -€4,191 | -33.4% |
| Trade debts | 44 | €88,031 | €68,635 | -€19,397 | -22.0% |
| Suppliers | 440/4 | €88,031 | €68,635 | -€19,397 | -22.0% |
| Taxes, remuneration and social security | 45 | €18,721 | €12,120 | -€6,601 | -35.3% |
| Taxes | 450/3 | €3,051 | €2,313 | -€739 | -24.2% |
| Remuneration and social security | 454/9 | €15,670 | €9,807 | -€5,863 | -37.4% |
| Other amounts payable | 47/48 | €50,000 | €28,497 | -€21,503 | -43.0% |
| Accrued charges and deferred income | 492/3 | €9,600 | €19,200 | +€9,600 | +100% |
| Remuneration, social security and pensions | 62 | €85,506 | €76,809 | -€8,697 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,173 | €24,013 | -€160 | -0.7% |
| Other operating charges | 640/8 | €1,166 | €1,056 | -€110 | -9.5% |
| Gross operating margin | 9900 | €132,146 | €133,238 | +€1,091 | +0.8% |
| Operating profit (loss) | 9901 | €21,301 | €31,360 | +€10,059 | +47.2% |
| Financial income | 75/76B | €11,469 | €10,479 | -€989 | -8.6% |
| Recurring financial income | 75 | €11,469 | €10,479 | -€989 | -8.6% |
| Financial charges | 65/66B | €4,475 | €3,335 | -€1,140 | -25.5% |
| Recurring financial charges | 65 | €4,475 | €3,335 | -€1,140 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €28,295 | €38,505 | +€10,210 | +36.1% |
| Income taxes | 67/77 | €7,360 | €10,008 | +€2,648 | +36.0% |
| Profit (loss) for the period | 9904 | €20,935 | €28,497 | +€7,562 | +36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,935 | €28,497 | +€7,562 | +36.1% |
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 17 October 2026 via checked.be.