GORAL: 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.
GORAL
Largest movements
- Cash +€16,922
up €16,922 (+59.9%), from €28,244 to €45,166
mainly Net result for the year (+€21,282) and Tax, wage and social debts (+€10,106)
- Receivables within one year +€16,317
up €16,317 (+457%), from €3,574 to €19,891
of which Trade receivables: +€16,862
- Tangible fixed assets -€3,237
down €3,237 (-38.1%), from €8,502 to €5,265
of which Plant, machinery and equipment: -€2,296
- Profit (loss) carried forward +€21,282
up €21,282 (+62.1%), from €34,268 to €55,550
- Tax, wage and social debts +€10,106
new in 2025: €10,106
- Trade debts -€1,416
down €1,416 (-68.0%), from €2,083 to €667
- Gross operating margin -€20,709
down €20,709 (-37.0%), from €56,000 to €35,291
- Taxes -€4,041
down €4,041 (-40.5%), from €9,983 to €5,942
- Financial charges -€1,945
down €1,945 (-36.7%), from €5,304 to €3,359
- Other operating charges -€916
down €916 (-35.9%), from €2,548 to €1,633
- Depreciation -€832
down €832 (-20.4%), from €4,069 to €3,237
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 | €41,351 | €71,323 | +€29,972 | +72.5% |
| Fixed assets | 21/28 | €8,556 | €5,319 | -€3,237 | -37.8% |
| Tangible fixed assets | 22/27 | €8,502 | €5,265 | -€3,237 | -38.1% |
| Plant, machinery and equipment | 23 | €6,205 | €3,909 | -€2,296 | -37.0% |
| Furniture and vehicles | 24 | €2,297 | €1,357 | -€941 | -41.0% |
| Financial fixed assets | 28 | €54 | €54 | = | 0.0% |
| Current assets | 29/58 | €32,795 | €66,004 | +€33,209 | +101% |
| Amounts receivable within one year | 40/41 | €3,574 | €19,891 | +€16,317 | +457% |
| Trade receivables | 40 | - | €16,862 | +€16,862 | |
| Other amounts receivable | 41 | €3,574 | €3,030 | -€544 | -15.2% |
| Cash at bank and in hand | 54/58 | €28,244 | €45,166 | +€16,922 | +59.9% |
| Deferred charges and accrued income | 490/1 | €976 | €947 | -€30 | -3.1% |
| Total equity and liabilities | 10/49 | €41,351 | €71,323 | +€29,972 | +72.5% |
| Equity | 10/15 | €39,268 | €60,550 | +€21,282 | +54.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,268 | €55,550 | +€21,282 | +62.1% |
| Amounts payable | 17/49 | €2,083 | €10,773 | +€8,690 | +417% |
| Amounts payable within one year | 42/48 | €2,083 | €10,773 | +€8,690 | +417% |
| Trade debts | 44 | €2,083 | €667 | -€1,416 | -68.0% |
| Suppliers | 440/4 | €2,083 | €667 | -€1,416 | -68.0% |
| Taxes, remuneration and social security | 45 | - | €10,106 | +€10,106 | |
| Taxes | 450/3 | - | €10,106 | +€10,106 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,069 | €3,237 | -€832 | -20.4% |
| Other operating charges | 640/8 | €2,548 | €1,633 | -€916 | -35.9% |
| Gross operating margin | 9900 | €56,000 | €35,291 | -€20,709 | -37.0% |
| Operating profit (loss) | 9901 | €49,383 | €30,421 | -€18,962 | -38.4% |
| Financial income | 75/76B | €172 | €161 | -€11 | -6.2% |
| Recurring financial income | 75 | €172 | €161 | -€11 | -6.2% |
| Financial charges | 65/66B | €5,304 | €3,359 | -€1,945 | -36.7% |
| Recurring financial charges | 65 | €5,304 | €3,359 | -€1,945 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €44,252 | €27,224 | -€17,028 | -38.5% |
| Income taxes | 67/77 | €9,983 | €5,942 | -€4,041 | -40.5% |
| Profit (loss) for the period | 9904 | €34,268 | €21,282 | -€12,986 | -37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,268 | €21,282 | -€12,986 | -37.9% |
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 20 October 2026 via checked.be.