GOOD !D: 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.
GOOD !D
Largest movements
- Receivables within one year +€946,568
up €946,568 (+14.7%), from €6.4m to €7.4m
of which Trade receivables: +€1.0m
- Tangible fixed assets -€259,074
down €259,074 (-25.8%), from €1.0m to €743,829
of which Plant, machinery and equipment: -€225,901
- Contributions +€5.3m
up €5.3m (+177.3%), from €3.0m to €8.4m
- Debts after one year -€3.8m
down €3.8m (-59.3%), from €6.3m to €2.6m
of which Financial debts: -€4.0m
- Profit (loss) carried forward -€650,822
down €650,822 (-15.6%), from -€4.2m to -€4.8m
- Accrued charges and deferred income -€462,625
down €462,625 (-97.7%), from €473,503 to €10,878
- Trade debts +€363,487
up €363,487 (+8.5%), from €4.3m to €4.6m
- Gross operating margin +€898,051
up €898,051 (+191.4%), from €469,142 to €1.4m
- Financial charges -€433,772
down €433,772 (-75.1%), from €577,307 to €143,535
of which Non-recurring financial charges: -€354,837
- Staff costs -€90,027
down €90,027 (-8.4%), from €1.1m to €987,894
- Depreciation -€29,206
down €29,206 (-7.1%), from €409,441 to €380,235
- Financial income +€14,226
up €14,226 (+210.9%), from €6,745 to €20,971
of which Non-recurring financial income: +€10,835
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 | €13,214,643 | €14,003,421 | +€788,779 | +6.0% |
| Fixed assets | 21/28 | €3,749,689 | €3,468,431 | -€281,257 | -7.5% |
| Intangible fixed assets | 21 | €155,286 | €133,102 | -€22,184 | -14.3% |
| Tangible fixed assets | 22/27 | €1,002,902 | €743,829 | -€259,074 | -25.8% |
| Land and buildings | 22 | €3,174 | €2,246 | -€927 | -29.2% |
| Plant, machinery and equipment | 23 | €812,912 | €587,011 | -€225,901 | -27.8% |
| Furniture and vehicles | 24 | €30,626 | €22,897 | -€7,729 | -25.2% |
| Leasing and similar rights | 25 | €156,192 | €131,674 | -€24,517 | -15.7% |
| Financial fixed assets | 28 | €2,591,500 | €2,591,500 | = | 0.0% |
| Current assets | 29/58 | €9,464,954 | €10,534,990 | +€1.1m | +11.3% |
| Amounts receivable after more than one year | 29 | €332,936 | €430,046 | +€97,109 | +29.2% |
| Other amounts receivable | 291 | €332,936 | €430,046 | +€97,109 | +29.2% |
| Stocks and contracts in progress | 3 | €2,269,388 | €2,340,628 | +€71,240 | +3.1% |
| Stocks | 30/36 | €2,269,388 | €2,340,628 | +€71,240 | +3.1% |
| Amounts receivable within one year | 40/41 | €6,437,802 | €7,384,371 | +€946,568 | +14.7% |
| Trade receivables | 40 | €6,266,067 | €7,293,657 | +€1.0m | +16.4% |
| Other amounts receivable | 41 | €171,736 | €90,713 | -€81,022 | -47.2% |
| Cash at bank and in hand | 54/58 | €71,510 | €41,967 | -€29,543 | -41.3% |
| Deferred charges and accrued income | 490/1 | €353,318 | €337,979 | -€15,339 | -4.3% |
| Total equity and liabilities | 10/49 | €13,214,643 | €14,003,421 | +€788,779 | +6.0% |
| Equity | 10/15 | -€1,151,696 | €3,545,916 | +€4.7m | |
| Contributions | 10/11 | €3,017,245 | €8,365,680 | +€5.3m | +177.3% |
| Profit (loss) carried forward | 14 | -€4,168,942 | -€4,819,764 | -€650,822 | -15.6% |
| Amounts payable | 17/49 | €14,366,339 | €10,457,505 | -€3.9m | -27.2% |
| Amounts payable after more than one year | 17 | €6,337,564 | €2,577,887 | -€3.8m | -59.3% |
| Financial debts | 170/4 | €6,337,564 | €2,338,089 | -€4.0m | -63.1% |
| Other amounts payable | 178/9 | - | €239,798 | +€239,798 | |
| Amounts payable within one year | 42/48 | €7,555,272 | €7,868,740 | +€313,468 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €717,369 | €623,411 | -€93,958 | -13.1% |
| Financial debts | 43 | €1,233,886 | €1,316,032 | +€82,146 | +6.7% |
| Credit institutions | 430/8 | €1,233,886 | €1,316,032 | +€82,146 | +6.7% |
| Trade debts | 44 | €4,262,826 | €4,626,313 | +€363,487 | +8.5% |
| Suppliers | 440/4 | €4,262,826 | €4,626,313 | +€363,487 | +8.5% |
| Advances received on contracts in progress | 46 | €224,983 | €226,210 | +€1,227 | +0.5% |
| Taxes, remuneration and social security | 45 | €497,178 | €773,384 | +€276,206 | +55.6% |
| Taxes | 450/3 | €265,188 | €341,858 | +€76,670 | +28.9% |
| Remuneration and social security | 454/9 | €231,990 | €431,527 | +€199,536 | +86.0% |
| Other amounts payable | 47/48 | €619,029 | €303,390 | -€315,640 | -51.0% |
| Accrued charges and deferred income | 492/3 | €473,503 | €10,878 | -€462,625 | -97.7% |
| Remuneration, social security and pensions | 62 | €1,077,921 | €987,894 | -€90,027 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €409,441 | €380,235 | -€29,206 | -7.1% |
| Other operating charges | 640/8 | €21,979 | €12,832 | -€9,147 | -41.6% |
| Non-recurring operating charges | 66A | €402,564 | €514,491 | +€111,927 | +27.8% |
| Gross operating margin | 9900 | €469,142 | €1,367,193 | +€898,051 | +191.4% |
| Operating profit (loss) | 9901 | -€1,442,761 | -€528,258 | +€914,503 | +63.4% |
| Financial income | 75/76B | €6,745 | €20,971 | +€14,226 | +210.9% |
| Recurring financial income | 75 | €6,745 | €10,136 | +€3,391 | +50.3% |
| Non-recurring financial income | 76B | - | €10,835 | +€10,835 | |
| Financial charges | 65/66B | €577,307 | €143,535 | -€433,772 | -75.1% |
| Recurring financial charges | 65 | €222,469 | €143,535 | -€78,934 | -35.5% |
| Non-recurring financial charges | 66B | €354,837 | €0 | -€354,837 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,013,323 | -€650,822 | +€1.4m | +67.7% |
| Income taxes | 67/77 | €1,200 | €0 | -€1,200 | -100.0% |
| Profit (loss) for the period | 9904 | -€2,014,523 | -€650,822 | +€1.4m | +67.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,014,523 | -€650,822 | +€1.4m | +67.7% |
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 8 October 2026 via checked.be.