GOLDMAN: what changed
Two fiscal 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.
GOLDMAN
Largest movements
- Cash -€67,947
down €67,947 (-46.7%), from €145,443 to €77,496
mainly Contributions, distributions and other (-€74,000) and Trade debts (-€17,779)
- Tangible fixed assets +€11,717
up €11,717 (+77.3%), from €15,157 to €26,874
of which Other tangible fixed assets: +€23,635
- Intangible fixed assets -€10,000
down €10,000 (-33.3%), from €30,000 to €20,000
- Receivables within one year +€9,702
up €9,702 (+19.3%), from €50,243 to €59,945
of which Other amounts receivable: +€25,286
- Profit (loss) carried forward -€79,061
down €79,061, from €18,754 to -€60,307
- Other debts +€44,956
up €44,956 (+25.3%), from €177,988 to €222,945
- Trade debts -€17,779
down €17,779 (-59.7%), from €29,778 to €11,999
- Gross operating margin -€176,240
down €176,240 (-91.6%), from €192,468 to €16,228
- Taxes -€41,409
down €41,409 (-98.8%), from €41,909 to €500
- Financial charges +€6,774
up €6,774 (+624.8%), from €1,084 to €7,859
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
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 | €250,978 | €195,097 | -€55,881 | -22.3% |
| Fixed assets | 21/28 | €54,977 | €56,694 | +€1,717 | +3.1% |
| Intangible fixed assets | 21 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Tangible fixed assets | 22/27 | €15,157 | €26,874 | +€11,717 | +77.3% |
| Furniture and vehicles | 24 | €1,165 | €1,587 | +€422 | +36.2% |
| Other tangible fixed assets | 26 | - | €23,635 | +€23,635 | |
| Assets under construction and advance payments | 27 | €13,993 | €1,653 | -€12,340 | -88.2% |
| Financial fixed assets | 28 | €9,820 | €9,820 | = | 0.0% |
| Current assets | 29/58 | €196,001 | €138,402 | -€57,598 | -29.4% |
| Amounts receivable within one year | 40/41 | €50,243 | €59,945 | +€9,702 | +19.3% |
| Trade receivables | 40 | €45,152 | €29,567 | -€15,585 | -34.5% |
| Other amounts receivable | 41 | €5,091 | €30,378 | +€25,286 | +496.6% |
| Cash at bank and in hand | 54/58 | €145,443 | €77,496 | -€67,947 | -46.7% |
| Deferred charges and accrued income | 490/1 | €314 | €961 | +€647 | +206.2% |
| Total equity and liabilities | 10/49 | €250,978 | €195,097 | -€55,881 | -22.3% |
| Equity | 10/15 | €39,214 | -€39,847 | -€79,061 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,754 | -€60,307 | -€79,061 | |
| Amounts payable | 17/49 | €211,764 | €234,944 | +€23,180 | +10.9% |
| Amounts payable within one year | 42/48 | €211,764 | €234,944 | +€23,180 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €1,701 | - | -€1,701 | |
| Trade debts | 44 | €29,778 | €11,999 | -€17,779 | -59.7% |
| Suppliers | 440/4 | €29,778 | €11,999 | -€17,779 | -59.7% |
| Taxes, remuneration and social security | 45 | €2,297 | - | -€2,297 | |
| Taxes | 450/3 | €2,297 | - | -€2,297 | |
| Other amounts payable | 47/48 | €177,988 | €222,945 | +€44,956 | +25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,794 | €12,519 | +€1,725 | +16.0% |
| Other operating charges | 640/8 | - | €411 | +€411 | |
| Gross operating margin | 9900 | €192,468 | €16,228 | -€176,240 | -91.6% |
| Operating profit (loss) | 9901 | €181,674 | €3,298 | -€178,376 | -98.2% |
| Financial income | 75/76B | €36 | - | -€36 | |
| Recurring financial income | 75 | €36 | - | -€36 | |
| Financial charges | 65/66B | €1,084 | €7,859 | +€6,774 | +624.8% |
| Recurring financial charges | 65 | €1,084 | €7,859 | +€6,774 | +624.8% |
| Profit (loss) for the period before taxes | 9903 | €180,626 | -€4,561 | -€185,187 | |
| Income taxes | 67/77 | €41,909 | €500 | -€41,409 | -98.8% |
| Profit (loss) for the period | 9904 | €138,718 | -€5,061 | -€143,778 | |
| Profit (loss) for the period to be appropriated | 9905 | €138,718 | -€5,061 | -€143,778 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.