GOODWIN INTERNATIONAL: 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.
GOODWIN INTERNATIONAL
Largest movements
- Cash +€133,568
up €133,568 (+164%), from €81,678 to €215,246
mainly Net result for the year (+€88,836) and Tax, wage and social debts (+€32,504)
- Intangible fixed assets -€22,348
down €22,348 (-11.9%), from €188,548 to €166,200
- Receivables within one year -€8,983
down €8,983 (-99.9%), from €8,989 to €6
of which Trade receivables: -€8,989
- Profit (loss) carried forward +€88,836
up €88,836, from -€60,594 to €28,242
- Debts after one year -€34,753
down €34,753 (-85.3%), from €40,720 to €5,967
- Tax, wage and social debts +€32,504
up €32,504 (+180%), from €18,070 to €50,574
- Trade debts +€14,562
up €14,562 (+372%), from €3,914 to €18,476
- Gross operating margin +€68,577
up €68,577 (+73.5%), from €93,352 to €161,929
- Taxes +€20,497
up €20,497 (+183%), from €11,229 to €31,726
- Other operating charges -€14,800
down €14,800 (-52.2%), from €28,366 to €13,566
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 | €282,975 | €384,070 | +€101,095 | +35.7% |
| Fixed assets | 21/28 | €192,308 | €168,817 | -€23,491 | -12.2% |
| Intangible fixed assets | 21 | €188,548 | €166,200 | -€22,348 | -11.9% |
| Tangible fixed assets | 22/27 | €3,760 | €2,617 | -€1,143 | -30.4% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €3,760 | €2,617 | -€1,143 | -30.4% |
| Current assets | 29/58 | €90,667 | €215,253 | +€124,586 | +137% |
| Amounts receivable within one year | 40/41 | €8,989 | €6 | -€8,983 | -99.9% |
| Trade receivables | 40 | €8,989 | €0 | -€8,989 | -100% |
| Other amounts receivable | 41 | - | €6 | +€6 | |
| Cash at bank and in hand | 54/58 | €81,678 | €215,246 | +€133,568 | +164% |
| Total equity and liabilities | 10/49 | €282,975 | €384,070 | +€101,095 | +35.7% |
| Equity | 10/15 | €174,169 | €263,004 | +€88,835 | +51.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €173,263 | €173,263 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €104,624 | €104,624 | -€0 | 0.0% |
| Distributable reserves | 133 | €62,489 | €62,489 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€60,594 | €28,242 | +€88,836 | |
| Amounts payable | 17/49 | €108,806 | €121,065 | +€12,259 | +11.3% |
| Amounts payable after more than one year | 17 | €40,720 | €5,967 | -€34,753 | -85.3% |
| Financial debts | 170/4 | €40,720 | €5,967 | -€34,753 | -85.3% |
| Amounts payable within one year | 42/48 | €68,086 | €115,099 | +€47,013 | +69.0% |
| Current portion of amounts payable after more than one year | 42 | €33,022 | €34,753 | +€1,731 | +5.2% |
| Trade debts | 44 | €3,914 | €18,476 | +€14,562 | +372% |
| Suppliers | 440/4 | €3,914 | €18,476 | +€14,562 | +372% |
| Taxes, remuneration and social security | 45 | €18,070 | €50,574 | +€32,504 | +180% |
| Taxes | 450/3 | €18,070 | €50,574 | +€32,504 | +180% |
| Other amounts payable | 47/48 | €13,080 | €11,296 | -€1,784 | -13.6% |
| Non-recurring operating income | 76A | - | €852 | +€852 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,612 | €24,342 | -€270 | -1.1% |
| Other operating charges | 640/8 | €28,366 | €13,566 | -€14,800 | -52.2% |
| Gross operating margin | 9900 | €93,352 | €161,929 | +€68,577 | +73.5% |
| Operating profit (loss) | 9901 | €40,374 | €124,021 | +€83,647 | +207% |
| Financial income | 75/76B | €826 | €266 | -€560 | -67.8% |
| Recurring financial income | 75 | €826 | €266 | -€560 | -67.8% |
| Financial charges | 65/66B | €4,459 | €3,726 | -€733 | -16.4% |
| Recurring financial charges | 65 | €4,459 | €3,726 | -€733 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €36,741 | €120,561 | +€83,820 | +228% |
| Income taxes | 67/77 | €11,229 | €31,726 | +€20,497 | +183% |
| Profit (loss) for the period | 9904 | €25,512 | €88,836 | +€63,324 | +248% |
| Profit (loss) for the period to be appropriated | 9905 | €25,512 | €88,836 | +€63,324 | +248% |
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 29 October 2026 via checked.be.