Goethals-Maes: 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-Maes
Largest movements
- Receivables within one year +€27,223
up €27,223 (+45.0%), from €60,467 to €87,691
of which Trade receivables: +€32,873
- Tangible fixed assets -€9,126
down €9,126 (-74.4%), from €12,271 to €3,145
of which Furniture and vehicles: -€8,733
- Reserves +€7,000
up €7,000 (+4.7%), from €150,059 to €157,059
of which Distributable reserves: +€7,000
- Tax, wage and social debts +€4,436
up €4,436 (+246.4%), from €1,800 to €6,236
- Short-term financial debts +€4,029
up €4,029 (+21.7%), from €18,587 to €22,617
- Other debts +€2,508
up €2,508 (+15.5%), from €16,180 to €18,687
- Gross operating margin +€18,116
up €18,116, from -€668 to €17,448
- Taxes +€1,529
up €1,529 (+527.1%), from €290 to €1,819
- Depreciation -€419
down €419 (-4.4%), from €9,545 to €9,126
- Financial charges +€216
up €216 (+16.3%), from €1,328 to €1,544
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.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €207,194 | €225,845 | +€18,651 | +9.0% |
| Fixed assets | 21/28 | €12,271 | €3,145 | -€9,126 | -74.4% |
| Tangible fixed assets | 22/27 | €12,271 | €3,145 | -€9,126 | -74.4% |
| Plant, machinery and equipment | 23 | €1,432 | €1,039 | -€392 | -27.4% |
| Furniture and vehicles | 24 | €10,839 | €2,106 | -€8,733 | -80.6% |
| Current assets | 29/58 | €194,923 | €222,700 | +€27,777 | +14.3% |
| Amounts receivable after more than one year | 29 | €131,340 | €131,340 | = | 0.0% |
| Other amounts receivable | 291 | €131,340 | €131,340 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €60,467 | €87,691 | +€27,223 | +45.0% |
| Trade receivables | 40 | €41,158 | €74,030 | +€32,873 | +79.9% |
| Other amounts receivable | 41 | €19,310 | €13,661 | -€5,649 | -29.3% |
| Deferred charges and accrued income | 490/1 | €3,116 | €3,669 | +€554 | +17.8% |
| Total equity and liabilities | 10/49 | €207,194 | €225,845 | +€18,651 | +9.0% |
| Equity | 10/15 | €169,302 | €176,307 | +€7,005 | +4.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €150,059 | €157,059 | +€7,000 | +4.7% |
| 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 | €148,200 | €155,200 | +€7,000 | +4.7% |
| Profit (loss) carried forward | 14 | €651 | €656 | +€5 | +0.8% |
| Amounts payable | 17/49 | €37,892 | €49,538 | +€11,646 | +30.7% |
| Amounts payable within one year | 42/48 | €37,892 | €49,538 | +€11,646 | +30.7% |
| Financial debts | 43 | €18,587 | €22,617 | +€4,029 | +21.7% |
| Credit institutions | 430/8 | €18,587 | €22,617 | +€4,029 | +21.7% |
| Trade debts | 44 | €1,325 | €1,998 | +€673 | +50.8% |
| Suppliers | 440/4 | €1,325 | €1,998 | +€673 | +50.8% |
| Taxes, remuneration and social security | 45 | €1,800 | €6,236 | +€4,436 | +246.4% |
| Taxes | 450/3 | €1,800 | €6,236 | +€4,436 | +246.4% |
| Other amounts payable | 47/48 | €16,180 | €18,687 | +€2,508 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,545 | €9,126 | -€419 | -4.4% |
| Other operating charges | 640/8 | €759 | €817 | +€58 | +7.6% |
| Gross operating margin | 9900 | -€668 | €17,448 | +€18,116 | |
| Operating profit (loss) | 9901 | -€10,972 | €7,505 | +€18,477 | |
| Financial income | 75/76B | €2,860 | €2,864 | +€4 | +0.1% |
| Recurring financial income | 75 | €2,860 | €2,864 | +€4 | +0.1% |
| Financial charges | 65/66B | €1,328 | €1,544 | +€216 | +16.3% |
| Recurring financial charges | 65 | €1,328 | €1,544 | +€216 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,440 | €8,825 | +€18,265 | |
| Income taxes | 67/77 | €290 | €1,819 | +€1,529 | +527.1% |
| Profit (loss) for the period | 9904 | -€9,730 | €7,005 | +€16,736 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,730 | €7,005 | +€16,736 |
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 10 October 2026 via checked.be.