GOLIAT: 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.
GOLIAT
Largest movements
- Cash -€565,005
down €565,005 (-92.6%), from €610,023 to €45,017
mainly Current investments (-€400,000) and Current portion of long-term debt (-€167,491)
- Current investments +€400,000
new in 2025: €400,000
- Receivables within one year -€38,855
down €38,855 (-99.2%), from €39,188 to €333
of which Trade receivables: -€38,855
- Tangible fixed assets +€20,374
up €20,374 (+22.7%), from €89,851 to €110,225
of which Furniture and vehicles: +€31,511
- Current portion of long-term debt -€167,491
down €167,491 (-100%), from €167,491 to €0
- Other debts -€15,873
down €15,873 (-41.6%), from €38,117 to €22,243
- Gross operating margin -€418,230
down €418,230 (-92.8%), from €450,447 to €32,217
- Taxes -€34,255
down €34,255 (-95.5%), from €35,870 to €1,615
- Depreciation -€10,531
down €10,531 (-40.8%), from €25,834 to €15,303
- Financial charges +€7,047
up €7,047 (+113%), from €6,234 to €13,282
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 | €749,272 | €566,604 | -€182,667 | -24.4% |
| Fixed assets | 21/28 | €99,851 | €120,225 | +€20,374 | +20.4% |
| Tangible fixed assets | 22/27 | €89,851 | €110,225 | +€20,374 | +22.7% |
| Land and buildings | 22 | €74,359 | €63,809 | -€10,550 | -14.2% |
| Plant, machinery and equipment | 23 | €9,641 | €9,053 | -€587 | -6.1% |
| Furniture and vehicles | 24 | €5,852 | €37,363 | +€31,511 | +538% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €649,421 | €446,379 | -€203,042 | -31.3% |
| Amounts receivable within one year | 40/41 | €39,188 | €333 | -€38,855 | -99.2% |
| Trade receivables | 40 | €39,019 | €164 | -€38,855 | -99.6% |
| Other amounts receivable | 41 | €169 | €169 | = | 0.0% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €610,023 | €45,017 | -€565,005 | -92.6% |
| Deferred charges and accrued income | 490/1 | €211 | €1,029 | +€818 | +388% |
| Total equity and liabilities | 10/49 | €749,272 | €566,604 | -€182,667 | -24.4% |
| Equity | 10/15 | €521,350 | €523,641 | +€2,291 | +0.4% |
| Contributions | 10/11 | €24,592 | €24,592 | = | 0.0% |
| Reserves | 13 | €496,758 | €499,049 | +€2,291 | +0.5% |
| Non-distributable reserves | 130/1 | €2,459 | €2,459 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,459 | €2,459 | = | 0.0% |
| Tax-exempt reserves | 132 | €283,303 | €283,303 | = | 0.0% |
| Distributable reserves | 133 | €210,995 | €213,286 | +€2,291 | +1.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €227,922 | €42,964 | -€184,959 | -81.1% |
| Amounts payable within one year | 42/48 | €226,746 | €40,463 | -€186,283 | -82.2% |
| Current portion of amounts payable after more than one year | 42 | €167,491 | €0 | -€167,491 | -100% |
| Trade debts | 44 | €4,234 | €4,886 | +€652 | +15.4% |
| Suppliers | 440/4 | €4,234 | €4,886 | +€652 | +15.4% |
| Taxes, remuneration and social security | 45 | €16,904 | €13,333 | -€3,571 | -21.1% |
| Taxes | 450/3 | €16,904 | €13,333 | -€3,571 | -21.1% |
| Other amounts payable | 47/48 | €38,117 | €22,243 | -€15,873 | -41.6% |
| Accrued charges and deferred income | 492/3 | €1,176 | €2,501 | +€1,324 | +113% |
| Non-recurring operating income | 76A | - | €7,174 | +€7,174 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,834 | €15,303 | -€10,531 | -40.8% |
| Other operating charges | 640/8 | €6,396 | €3,972 | -€2,424 | -37.9% |
| Gross operating margin | 9900 | €450,447 | €32,217 | -€418,230 | -92.8% |
| Operating profit (loss) | 9901 | €418,217 | €12,942 | -€405,275 | -96.9% |
| Financial income | 75/76B | €36 | €4,246 | +€4,210 | +11,782% |
| Recurring financial income | 75 | €36 | €4,246 | +€4,210 | +11,782% |
| Financial charges | 65/66B | €6,234 | €13,282 | +€7,047 | +113% |
| Recurring financial charges | 65 | €6,234 | €13,282 | +€7,047 | +113% |
| Profit (loss) for the period before taxes | 9903 | €412,019 | €3,906 | -€408,112 | -99.1% |
| Income taxes | 67/77 | €35,870 | €1,615 | -€34,255 | -95.5% |
| Profit (loss) for the period | 9904 | €376,149 | €2,291 | -€373,858 | -99.4% |
| Transfer to tax-exempt reserves | 689 | €283,303 | €0 | -€283,303 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €92,845 | €2,291 | -€90,554 | -97.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.