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
- Current investments -€168,674
down €168,674 (-98.0%), from €172,088 to €3,414
- Cash +€132,141
up €132,141 (+255%), from €51,905 to €184,045
mainly Current investments (+€168,674) and Other debts (+€94,098)
- Tangible fixed assets -€72,985
down €72,985 (-2.7%), from €2.7m to €2.7m
of which Land and buildings: -€74,586
- Short-term financial debts -€150,000
no longer reported in 2026 (was €150,000)
- Other debts +€94,098
up €94,098 (+66.1%), from €142,425 to €236,524
- Reserves -€57,855
down €57,855 (-6.2%), from €930,277 to €872,422
- Other operating charges +€23,239
up €23,239 (+1,092%), from €2,129 to €25,367
- Financial income +€13,015
up €13,015 (+44.2%), from €29,426 to €42,441
- Gross operating margin -€4,493
down €4,493 (-15.1%), from €29,708 to €25,215
- Financial charges -€1,584
down €1,584 (-7.2%), from €21,958 to €20,374
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,001,906 | €2,885,027 | -€116,879 | -3.9% |
| Fixed assets | 21/28 | €2,735,741 | €2,662,756 | -€72,985 | -2.7% |
| Tangible fixed assets | 22/27 | €2,735,741 | €2,662,756 | -€72,985 | -2.7% |
| Land and buildings | 22 | €2,717,620 | €2,643,034 | -€74,586 | -2.7% |
| Plant, machinery and equipment | 23 | €7,583 | €5,423 | -€2,161 | -28.5% |
| Furniture and vehicles | 24 | €10,538 | €14,299 | +€3,761 | +35.7% |
| Current assets | 29/58 | €266,164 | €222,271 | -€43,894 | -16.5% |
| Amounts receivable within one year | 40/41 | €36,534 | €28,138 | -€8,397 | -23.0% |
| Trade receivables | 40 | €9,011 | €6,830 | -€2,180 | -24.2% |
| Other amounts receivable | 41 | €27,524 | €21,307 | -€6,216 | -22.6% |
| Current investments | 50/53 | €172,088 | €3,414 | -€168,674 | -98.0% |
| Cash at bank and in hand | 54/58 | €51,905 | €184,045 | +€132,141 | +255% |
| Deferred charges and accrued income | 490/1 | €5,637 | €6,673 | +€1,037 | +18.4% |
| Total equity and liabilities | 10/49 | €3,001,906 | €2,885,027 | -€116,879 | -3.9% |
| Equity | 10/15 | €2,676,897 | €2,619,042 | -€57,855 | -2.2% |
| Contributions | 10/11 | €1,746,620 | €1,746,620 | = | 0.0% |
| Reserves | 13 | €930,277 | €872,422 | -€57,855 | -6.2% |
| Distributable reserves | 133 | €930,277 | €872,422 | -€57,855 | -6.2% |
| Amounts payable | 17/49 | €325,008 | €265,985 | -€59,023 | -18.2% |
| Amounts payable within one year | 42/48 | €315,674 | €250,680 | -€64,994 | -20.6% |
| Financial debts | 43 | €150,000 | - | -€150,000 | |
| Credit institutions | 430/8 | €150,000 | - | -€150,000 | |
| Trade debts | 44 | €19,872 | €10,310 | -€9,562 | -48.1% |
| Suppliers | 440/4 | €19,872 | €10,310 | -€9,562 | -48.1% |
| Taxes, remuneration and social security | 45 | €3,376 | €3,847 | +€470 | +13.9% |
| Taxes | 450/3 | €3,376 | €3,847 | +€470 | +13.9% |
| Other amounts payable | 47/48 | €142,425 | €236,524 | +€94,098 | +66.1% |
| Accrued charges and deferred income | 492/3 | €9,335 | €15,305 | +€5,970 | +64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,865 | €79,767 | -€98 | -0.1% |
| Other operating charges | 640/8 | €2,129 | €25,367 | +€23,239 | +1,092% |
| Gross operating margin | 9900 | €29,708 | €25,215 | -€4,493 | -15.1% |
| Operating profit (loss) | 9901 | -€52,285 | -€79,919 | -€27,634 | -52.9% |
| Financial income | 75/76B | €29,426 | €42,441 | +€13,015 | +44.2% |
| Recurring financial income | 75 | €29,426 | €42,441 | +€13,015 | +44.2% |
| Financial charges | 65/66B | €21,958 | €20,374 | -€1,584 | -7.2% |
| Recurring financial charges | 65 | €21,958 | €20,374 | -€1,584 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€44,817 | -€57,852 | -€13,035 | -29.1% |
| Income taxes | 67/77 | - | €4 | +€4 | |
| Profit (loss) for the period | 9904 | -€44,817 | -€57,855 | -€13,039 | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,817 | -€57,855 | -€13,039 | -29.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.