GOETHALS – LIPPENS: what changed
GOETHALS – LIPPENS
Largest movements
- Cash +€124,905
up €124,905 (+2,519%), from €4,959 to €129,864
mainly Net result for the year (+€151,080) and Other debts (+€129,078)
- Receivables within one year +€98,602
up €98,602 (+15.5%), from €635,735 to €734,337
of which Trade receivables: +€156,066
- Stocks and contracts -€95,930
down €95,930 (-31.0%), from €309,727 to €213,797
of which Contracts in progress: -€56,926
- Receivables after one year -€47,116
down €47,116 (-23.6%), from €200,000 to €152,884
- Tangible fixed assets +€40,679
up €40,679 (+38.4%), from €105,813 to €146,492
of which Leasing and similar rights: +€61,520
- Other debts +€129,078
up €129,078 (+103%), from €124,751 to €253,829
- Reserves -€102,749
down €102,749 (-23.4%), from €439,783 to €337,034
- Tax, wage and social debts +€99,641
up €99,641 (+64.1%), from €155,542 to €255,183
of which Taxes: +€84,778
- Debts after one year +€38,086
up €38,086 (+67.6%), from €56,361 to €94,447
- Current portion of long-term debt -€33,599
down €33,599 (-54.9%), from €61,204 to €27,605
- Gross operating margin -€71,979
down €71,979 (-13.8%), from €522,204 to €450,225
- Taxes -€20,945
down €20,945 (-23.5%), from €89,133 to €68,188
- Staff costs -€19,526
down €19,526 (-10.5%), from €185,537 to €166,011
- Depreciation +€10,278
up €10,278 (+34.2%), from €30,042 to €40,320
- Financial charges -€5,307
down €5,307 (-25.3%), from €20,966 to €15,659
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,259,947 | €1,380,008 | +€120,061 | +9.5% |
| Fixed assets | 21/28 | €109,527 | €147,254 | +€37,727 | +34.4% |
| Intangible fixed assets | 21 | €3,714 | €762 | -€2,952 | -79.5% |
| Tangible fixed assets | 22/27 | €105,813 | €146,492 | +€40,679 | +38.4% |
| Land and buildings | 22 | €83,041 | €78,068 | -€4,973 | -6.0% |
| Plant, machinery and equipment | 23 | €2,374 | €1,083 | -€1,291 | -54.4% |
| Furniture and vehicles | 24 | €16,260 | €1,683 | -€14,577 | -89.6% |
| Leasing and similar rights | 25 | €4,137 | €65,658 | +€61,520 | +1,487% |
| Current assets | 29/58 | €1,150,420 | €1,232,754 | +€82,334 | +7.2% |
| Amounts receivable after more than one year | 29 | €200,000 | €152,884 | -€47,116 | -23.6% |
| Trade receivables | 290 | €200,000 | €152,884 | -€47,116 | -23.6% |
| Stocks and contracts in progress | 3 | €309,727 | €213,797 | -€95,930 | -31.0% |
| Stocks | 30/36 | €222,541 | €183,537 | -€39,004 | -17.5% |
| Contracts in progress | 37 | €87,185 | €30,260 | -€56,926 | -65.3% |
| Amounts receivable within one year | 40/41 | €635,735 | €734,337 | +€98,602 | +15.5% |
| Trade receivables | 40 | €561,844 | €717,910 | +€156,066 | +27.8% |
| Other amounts receivable | 41 | €73,891 | €16,427 | -€57,463 | -77.8% |
| Cash at bank and in hand | 54/58 | €4,959 | €129,864 | +€124,905 | +2,519% |
| Deferred charges and accrued income | 490/1 | - | €1,872 | +€1,872 | |
| Total equity and liabilities | 10/49 | €1,259,947 | €1,380,008 | +€120,061 | +9.5% |
| Equity | 10/15 | €474,794 | €372,045 | -€102,749 | -21.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €439,783 | €337,034 | -€102,749 | -23.4% |
| Distributable reserves | 133 | €439,783 | €337,034 | -€102,749 | -23.4% |
| Profit (loss) carried forward | 14 | €30,011 | €30,011 | = | 0.0% |
| Amounts payable | 17/49 | €785,153 | €1,007,963 | +€222,810 | +28.4% |
| Amounts payable after more than one year | 17 | €56,361 | €94,447 | +€38,086 | +67.6% |
| Financial debts | 170/4 | €56,361 | €94,447 | +€38,086 | +67.6% |
| Amounts payable within one year | 42/48 | €728,792 | €913,516 | +€184,724 | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €61,204 | €27,605 | -€33,599 | -54.9% |
| Financial debts | 43 | €250,000 | €250,000 | = | 0.0% |
| Credit institutions | 430/8 | €250,000 | €250,000 | = | 0.0% |
| Trade debts | 44 | €137,295 | €126,899 | -€10,396 | -7.6% |
| Suppliers | 440/4 | €137,295 | €126,899 | -€10,396 | -7.6% |
| Taxes, remuneration and social security | 45 | €155,542 | €255,183 | +€99,641 | +64.1% |
| Taxes | 450/3 | €147,578 | €232,356 | +€84,778 | +57.4% |
| Remuneration and social security | 454/9 | €7,965 | €22,827 | +€14,863 | +187% |
| Other amounts payable | 47/48 | €124,751 | €253,829 | +€129,078 | +103% |
| Non-recurring operating income | 76A | €2,670 | €15,152 | +€12,482 | +467% |
| Remuneration, social security and pensions | 62 | €185,537 | €166,011 | -€19,526 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,042 | €40,320 | +€10,278 | +34.2% |
| Other operating charges | 640/8 | €11,475 | €9,059 | -€2,416 | -21.1% |
| Gross operating margin | 9900 | €522,204 | €450,225 | -€71,979 | -13.8% |
| Operating profit (loss) | 9901 | €295,151 | €234,835 | -€60,316 | -20.4% |
| Financial income | 75/76B | €902 | €93 | -€809 | -89.7% |
| Recurring financial income | 75 | €902 | €93 | -€809 | -89.7% |
| Financial charges | 65/66B | €20,966 | €15,659 | -€5,307 | -25.3% |
| Recurring financial charges | 65 | €20,966 | €15,659 | -€5,307 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €275,087 | €219,269 | -€55,818 | -20.3% |
| Income taxes | 67/77 | €89,133 | €68,188 | -€20,945 | -23.5% |
| Profit (loss) for the period | 9904 | €185,954 | €151,080 | -€34,873 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €185,954 | €151,080 | -€34,873 | -18.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.