GOFFIN-LOUIS: 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.
GOFFIN-LOUIS
Largest movements
- Tangible fixed assets -€142,884
down €142,884 (-15.1%), from €948,139 to €805,255
of which Plant, machinery and equipment: -€83,492
- Receivables within one year +€119,039
up €119,039 (+210%), from €56,645 to €175,684
of which Other amounts receivable: +€116,260
- Cash +€79,489
up €79,489 (+297%), from €26,731 to €106,220
mainly Net result for the year (+€200,637) and Depreciation (+€172,319)
- Deferred charges and accrued income +€16,377
up €16,377 (+2,116%), from €774 to €17,151
- Reserves +€82,264
up €82,264 (+36.6%), from €224,549 to €306,812
of which Distributable reserves: +€86,264
- Debts after one year -€66,537
down €66,537 (-9.7%), from €685,387 to €618,850
- Other debts +€37,373
up €37,373 (+46.1%), from €81,000 to €118,373
- Tax, wage and social debts +€26,035
up €26,035 (+94.9%), from €27,447 to €53,482
of which Taxes: +€25,004
- Gross operating margin +€99,508
up €99,508 (+26.1%), from €381,687 to €481,195
- Taxes +€31,227
up €31,227 (+140%), from €22,364 to €53,592
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 | €1,173,137 | €1,247,925 | +€74,788 | +6.4% |
| Fixed assets | 21/28 | €948,189 | €805,305 | -€142,884 | -15.1% |
| Tangible fixed assets | 22/27 | €948,139 | €805,255 | -€142,884 | -15.1% |
| Land and buildings | 22 | €113,695 | €85,311 | -€28,384 | -25.0% |
| Plant, machinery and equipment | 23 | €529,364 | €445,872 | -€83,492 | -15.8% |
| Furniture and vehicles | 24 | €3,253 | €6,550 | +€3,297 | +101% |
| Leasing and similar rights | 25 | €181,188 | €166,381 | -€14,807 | -8.2% |
| Other tangible fixed assets | 26 | €120,639 | €101,141 | -€19,498 | -16.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €224,948 | €442,621 | +€217,672 | +96.8% |
| Stocks and contracts in progress | 3 | €10,564 | €10,564 | = | 0.0% |
| Stocks | 30/36 | €10,564 | €10,564 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €56,645 | €175,684 | +€119,039 | +210% |
| Trade receivables | 40 | €144 | €2,923 | +€2,779 | +1,930% |
| Other amounts receivable | 41 | €56,501 | €172,761 | +€116,260 | +206% |
| Current investments | 50/53 | €130,235 | €133,002 | +€2,767 | +2.1% |
| Cash at bank and in hand | 54/58 | €26,731 | €106,220 | +€79,489 | +297% |
| Deferred charges and accrued income | 490/1 | €774 | €17,151 | +€16,377 | +2,116% |
| Total equity and liabilities | 10/49 | €1,173,137 | €1,247,925 | +€74,788 | +6.4% |
| Equity | 10/15 | €244,429 | €326,692 | +€82,264 | +33.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €224,549 | €306,812 | +€82,264 | +36.6% |
| Non-distributable reserves | 130/1 | €4,000 | €0 | -€4,000 | -100% |
| Reserves not available under the articles | 1311 | €4,000 | €0 | -€4,000 | -100% |
| Distributable reserves | 133 | €220,549 | €306,812 | +€86,264 | +39.1% |
| Profit (loss) carried forward | 14 | €1,280 | €1,280 | = | 0.0% |
| Amounts payable | 17/49 | €928,708 | €921,233 | -€7,475 | -0.8% |
| Amounts payable after more than one year | 17 | €685,387 | €618,850 | -€66,537 | -9.7% |
| Financial debts | 170/4 | €685,387 | €618,850 | -€66,537 | -9.7% |
| Amounts payable within one year | 42/48 | €242,084 | €300,839 | +€58,755 | +24.3% |
| Current portion of amounts payable after more than one year | 42 | €120,916 | €111,464 | -€9,452 | -7.8% |
| Trade debts | 44 | €12,721 | €17,519 | +€4,799 | +37.7% |
| Suppliers | 440/4 | €12,721 | €17,519 | +€4,799 | +37.7% |
| Taxes, remuneration and social security | 45 | €27,447 | €53,482 | +€26,035 | +94.9% |
| Taxes | 450/3 | €21,298 | €46,302 | +€25,004 | +117% |
| Remuneration and social security | 454/9 | €6,149 | €7,180 | +€1,031 | +16.8% |
| Other amounts payable | 47/48 | €81,000 | €118,373 | +€37,373 | +46.1% |
| Accrued charges and deferred income | 492/3 | €1,237 | €1,544 | +€307 | +24.8% |
| Remuneration, social security and pensions | 62 | €33,202 | €32,569 | -€633 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,068 | €172,319 | +€3,252 | +1.9% |
| Other operating charges | 640/8 | €4,477 | €7,251 | +€2,773 | +61.9% |
| Gross operating margin | 9900 | €381,687 | €481,195 | +€99,508 | +26.1% |
| Operating profit (loss) | 9901 | €174,939 | €269,057 | +€94,117 | +53.8% |
| Financial income | 75/76B | €4,177 | €7,248 | +€3,071 | +73.5% |
| Recurring financial income | 75 | €4,177 | €7,248 | +€3,071 | +73.5% |
| Financial charges | 65/66B | €22,668 | €22,076 | -€592 | -2.6% |
| Recurring financial charges | 65 | €22,668 | €22,076 | -€592 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €156,448 | €254,228 | +€97,780 | +62.5% |
| Income taxes | 67/77 | €22,364 | €53,592 | +€31,227 | +140% |
| Profit (loss) for the period | 9904 | €134,084 | €200,637 | +€66,553 | +49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €134,084 | €200,637 | +€66,553 | +49.6% |
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 1 November 2026 via checked.be.