GOETMAEKERE: 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.
GOETMAEKERE
Largest movements
- Stocks and contracts -€89,147
down €89,147 (-78.5%), from €113,545 to €24,398
- Receivables within one year +€65,935
up €65,935 (+121%), from €54,653 to €120,588
of which Trade receivables: +€65,731
- Cash +€57,698
up €57,698 (+21.5%), from €268,820 to €326,518
mainly Net result for the year (+€114,007) and Stocks and contracts (+€89,147)
- Tangible fixed assets -€8,936
down €8,936 (-8.6%), from €104,437 to €95,501
of which Furniture and vehicles: -€29,050
- Reserves +€70,007
up €70,007 (+21.3%), from €328,419 to €398,426
- Trade debts -€59,723
down €59,723 (-68.8%), from €86,801 to €27,078
- Tax, wage and social debts +€12,690
up €12,690 (+30.3%), from €41,862 to €54,552
of which Taxes: +€12,240
- Current portion of long-term debt +€10,927
up €10,927 (+172%), from €6,363 to €17,290
- Other debts -€9,195
down €9,195 (-17.3%), from €53,195 to €44,000
- Gross operating margin -€17,124
down €17,124 (-7.3%), from €234,976 to €217,851
- Taxes -€13,608
down €13,608 (-32.9%), from €41,305 to €27,697
- Depreciation -€11,284
down €11,284 (-31.1%), from €36,314 to €25,030
- Other operating charges +€4,357
up €4,357 (+136%), from €3,193 to €7,550
- Staff costs +€2,965
up €2,965 (+52.7%), from €5,621 to €8,586
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 | €542,796 | €567,929 | +€25,133 | +4.6% |
| Fixed assets | 21/28 | €105,778 | €96,426 | -€9,353 | -8.8% |
| Intangible fixed assets | 21 | €1,196 | €780 | -€417 | -34.8% |
| Tangible fixed assets | 22/27 | €104,437 | €95,501 | -€8,936 | -8.6% |
| Plant, machinery and equipment | 23 | €16,474 | €20,057 | +€3,583 | +21.7% |
| Furniture and vehicles | 24 | €77,895 | €48,845 | -€29,050 | -37.3% |
| Other tangible fixed assets | 26 | €10,068 | €26,599 | +€16,531 | +164% |
| Financial fixed assets | 28 | €145 | €145 | = | 0.0% |
| Current assets | 29/58 | €437,017 | €471,504 | +€34,486 | +7.9% |
| Stocks and contracts in progress | 3 | €113,545 | €24,398 | -€89,147 | -78.5% |
| Stocks | 30/36 | €113,545 | €24,398 | -€89,147 | -78.5% |
| Amounts receivable within one year | 40/41 | €54,653 | €120,588 | +€65,935 | +121% |
| Trade receivables | 40 | €54,651 | €120,381 | +€65,731 | +120% |
| Other amounts receivable | 41 | €2 | €207 | +€205 | +8,982% |
| Cash at bank and in hand | 54/58 | €268,820 | €326,518 | +€57,698 | +21.5% |
| Total equity and liabilities | 10/49 | €542,796 | €567,929 | +€25,133 | +4.6% |
| Equity | 10/15 | €347,019 | €417,026 | +€70,007 | +20.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €328,419 | €398,426 | +€70,007 | +21.3% |
| Distributable reserves | 133 | €328,419 | €398,426 | +€70,007 | +21.3% |
| Amounts payable | 17/49 | €195,777 | €150,904 | -€44,873 | -22.9% |
| Amounts payable after more than one year | 17 | €2,143 | €2,569 | +€426 | +19.9% |
| Financial debts | 170/4 | €2,143 | €2,569 | +€426 | +19.9% |
| Amounts payable within one year | 42/48 | €193,634 | €148,334 | -€45,300 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €6,363 | €17,290 | +€10,927 | +172% |
| Trade debts | 44 | €86,801 | €27,078 | -€59,723 | -68.8% |
| Suppliers | 440/4 | €86,801 | €27,078 | -€59,723 | -68.8% |
| Advances received on contracts in progress | 46 | €5,413 | €5,413 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €41,862 | €54,552 | +€12,690 | +30.3% |
| Taxes | 450/3 | €41,722 | €53,963 | +€12,240 | +29.3% |
| Remuneration and social security | 454/9 | €140 | €590 | +€450 | +322% |
| Other amounts payable | 47/48 | €53,195 | €44,000 | -€9,195 | -17.3% |
| Remuneration, social security and pensions | 62 | €5,621 | €8,586 | +€2,965 | +52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,314 | €25,030 | -€11,284 | -31.1% |
| Other operating charges | 640/8 | €3,193 | €7,550 | +€4,357 | +136% |
| Non-recurring operating charges | 66A | - | €32,800 | +€32,800 | |
| Gross operating margin | 9900 | €234,976 | €217,851 | -€17,124 | -7.3% |
| Operating profit (loss) | 9901 | €189,848 | €143,886 | -€45,962 | -24.2% |
| Financial income | 75/76B | €19 | €882 | +€863 | +4,561% |
| Recurring financial income | 75 | €19 | €882 | +€863 | +4,561% |
| Financial charges | 65/66B | €4,536 | €3,064 | -€1,472 | -32.5% |
| Recurring financial charges | 65 | €4,536 | €3,064 | -€1,472 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €185,330 | €141,704 | -€43,627 | -23.5% |
| Income taxes | 67/77 | €41,305 | €27,697 | -€13,608 | -32.9% |
| Profit (loss) for the period | 9904 | €144,025 | €114,007 | -€30,019 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €144,025 | €114,007 | -€30,019 | -20.8% |
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 20 October 2026 via checked.be.