GOFFIN MAZOUT: 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 MAZOUT
Largest movements
- Receivables within one year +€140,724
up €140,724 (+11.7%), from €1.2m to €1.3m
of which Trade receivables: +€115,699
- Cash +€61,062
up €61,062 (+5.6%), from €1.1m to €1.2m
mainly Other debts (+€500,000) and Net result for the year (+€233,796)
- Other debts +€500,000
new in 2025: €500,000
- Reserves -€266,204
down €266,204 (-14.4%), from €1.8m to €1.6m
of which Distributable reserves: -€266,204
- Trade debts -€68,151
down €68,151 (-18.3%), from €371,561 to €303,410
- Tax, wage and social debts +€45,192
up €45,192 (+121%), from €37,419 to €82,611
of which Taxes: +€30,861
- Staff costs +€53,822
up €53,822 (+21.7%), from €247,576 to €301,398
- Other operating charges +€20,539
up €20,539 (+61.8%), from €33,246 to €53,785
- Write-downs -€20,433
down €20,433, from €3,924 to -€16,508
- Taxes -€13,681
down €13,681 (-14.7%), from €93,338 to €79,657
- Gross operating margin +€11,919
up €11,919 (+1.8%), from €654,569 to €666,488
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 | €2,388,536 | €2,620,451 | +€231,915 | +9.7% |
| Fixed assets | 21/28 | €56,680 | €76,850 | +€20,170 | +35.6% |
| Intangible fixed assets | 21 | €19,280 | €43,958 | +€24,678 | +128% |
| Tangible fixed assets | 22/27 | €36,860 | €32,352 | -€4,508 | -12.2% |
| Land and buildings | 22 | €21,083 | €21,083 | = | 0.0% |
| Furniture and vehicles | 24 | €15,778 | €11,270 | -€4,508 | -28.6% |
| Financial fixed assets | 28 | €540 | €540 | = | 0.0% |
| Current assets | 29/58 | €2,331,856 | €2,543,601 | +€211,746 | +9.1% |
| Stocks and contracts in progress | 3 | €16,286 | €15,078 | -€1,209 | -7.4% |
| Stocks | 30/36 | €16,286 | €15,078 | -€1,209 | -7.4% |
| Amounts receivable within one year | 40/41 | €1,206,245 | €1,346,969 | +€140,724 | +11.7% |
| Trade receivables | 40 | €1,198,431 | €1,314,130 | +€115,699 | +9.7% |
| Other amounts receivable | 41 | €7,814 | €32,839 | +€25,025 | +320% |
| Cash at bank and in hand | 54/58 | €1,095,632 | €1,156,694 | +€61,062 | +5.6% |
| Deferred charges and accrued income | 490/1 | €13,692 | €24,860 | +€11,168 | +81.6% |
| Total equity and liabilities | 10/49 | €2,388,536 | €2,620,451 | +€231,915 | +9.7% |
| Equity | 10/15 | €1,851,856 | €1,585,652 | -€266,204 | -14.4% |
| Contributions | 10/11 | €8,422 | €8,422 | = | 0.0% |
| Reserves | 13 | €1,843,433 | €1,577,229 | -€266,204 | -14.4% |
| Non-distributable reserves | 130/1 | €10,002 | €10,002 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,002 | €10,002 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,046 | €63,046 | = | 0.0% |
| Distributable reserves | 133 | €1,770,385 | €1,504,181 | -€266,204 | -15.0% |
| Amounts payable | 17/49 | €536,680 | €1,034,800 | +€498,120 | +92.8% |
| Amounts payable within one year | 42/48 | €536,680 | €1,034,800 | +€498,120 | +92.8% |
| Trade debts | 44 | €371,561 | €303,410 | -€68,151 | -18.3% |
| Suppliers | 440/4 | €371,561 | €303,410 | -€68,151 | -18.3% |
| Advances received on contracts in progress | 46 | €127,700 | €148,778 | +€21,078 | +16.5% |
| Taxes, remuneration and social security | 45 | €37,419 | €82,611 | +€45,192 | +121% |
| Taxes | 450/3 | €12,569 | €43,430 | +€30,861 | +246% |
| Remuneration and social security | 454/9 | €24,850 | €39,181 | +€14,331 | +57.7% |
| Other amounts payable | 47/48 | - | €500,000 | +€500,000 | |
| Remuneration, social security and pensions | 62 | €247,576 | €301,398 | +€53,822 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,396 | €6,650 | +€2,254 | +51.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,924 | -€16,508 | -€20,433 | |
| Other operating charges | 640/8 | €33,246 | €53,785 | +€20,539 | +61.8% |
| Gross operating margin | 9900 | €654,569 | €666,488 | +€11,919 | +1.8% |
| Operating profit (loss) | 9901 | €365,426 | €321,162 | -€44,264 | -12.1% |
| Financial income | 75/76B | €1,509 | €1,290 | -€219 | -14.5% |
| Recurring financial income | 75 | €1,509 | €1,290 | -€219 | -14.5% |
| Financial charges | 65/66B | €4,894 | €8,999 | +€4,105 | +83.9% |
| Recurring financial charges | 65 | €4,894 | €8,999 | +€4,105 | +83.9% |
| Profit (loss) for the period before taxes | 9903 | €362,041 | €313,453 | -€48,588 | -13.4% |
| Income taxes | 67/77 | €93,338 | €79,657 | -€13,681 | -14.7% |
| Profit (loss) for the period | 9904 | €268,702 | €233,796 | -€34,907 | -13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €268,702 | €233,796 | -€34,907 | -13.0% |
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 26 October 2026 via checked.be.