GOTECO: 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.
What changed
GOTECO
NACE 61.100, Wired, wireless and satellite telecommunications
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€58,572
2024 · €66,500-€7,928
Equity
€473,359
2024 · €414,787+€58,572
Cash
€15,497
2024 · €15,613-€115
Balance sheet total
€1.1m
2024 · €1.1m-€42,143
Largest movements
Assets
- Tangible fixed assets -€44,196
down €44,196 (-4.0%), from €1.1m to €1.1m
of which Land and buildings: -€40,617
Equity and liabilities
- Debts after one year -€106,137
down €106,137 (-18.3%), from €579,006 to €472,869
of which Financial debts: -€56,137
- Reserves +€58,387
up €58,387 (+17.9%), from €326,600 to €384,987
of which Distributable reserves: +€62,000
Income statement
- Gross operating margin -€11,128
down €11,128 (-6.9%), from €161,798 to €150,670
- Taxes -€3,890
down €3,890 (-11.2%), from €34,790 to €30,900
- Other operating charges +€1,644
up €1,644 (+35.4%), from €4,637 to €6,280
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.
Result 2024
€66,500
Gross operating margin
-€11,128
Depreciation
+€267
Other operating charges
-€1,644
Financial income
+€0
Financial charges
+€685
Taxes
+€3,890
Result 2025
€58,572
raises the resultlowers the result
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.
From operations
+€116,294
Investment
-€9,539
Financing
-€106,871
Cash 2024
€15,613
From operations (derived)
+€116,294
Net result for the year
+€58,572
Depreciation
+€53,735
Receivables within one year
-€2,108
Deferred charges and accrued income
-€60
Provisions
-€1,204
Trade debts
+€2,348
Tax, wage and social debts
+€4,027
Other debts
+€985
Investment (derived)
-€9,539
Investment in fixed assets (net)
-€9,539
Financing
-€106,871
Debts after one year
-€106,137
Current portion of long-term debt
-€733
Cash 2025
€15,497
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,122,399 | €1,080,256 | -€42,143 | -3.8% |
| Fixed assets | 21/28 | €1,096,264 | €1,052,068 | -€44,196 | -4.0% |
| Tangible fixed assets | 22/27 | €1,096,264 | €1,052,068 | -€44,196 | -4.0% |
| Land and buildings | 22 | €1,047,135 | €1,006,518 | -€40,617 | -3.9% |
| Plant, machinery and equipment | 23 | - | €1,089 | +€1,089 | |
| Furniture and vehicles | 24 | €49,128 | €44,461 | -€4,667 | -9.5% |
| Current assets | 29/58 | €26,135 | €28,188 | +€2,052 | +7.9% |
| Amounts receivable within one year | 40/41 | €8,513 | €10,620 | +€2,108 | +24.8% |
| Trade receivables | 40 | €8,455 | €10,562 | +€2,107 | +24.9% |
| Other amounts receivable | 41 | €58 | €59 | +€1 | +2.1% |
| Cash at bank and in hand | 54/58 | €15,613 | €15,497 | -€115 | -0.7% |
| Deferred charges and accrued income | 490/1 | €2,010 | €2,070 | +€60 | +3.0% |
| Total equity and liabilities | 10/49 | €1,122,399 | €1,080,256 | -€42,143 | -3.8% |
| Equity | 10/15 | €414,787 | €473,359 | +€58,572 | +14.1% |
| Contributions | 10/11 | €83,592 | €83,592 | = | 0.0% |
| Reserves | 13 | €326,600 | €384,987 | +€58,387 | +17.9% |
| Tax-exempt reserves | 132 | €107,000 | €103,387 | -€3,613 | -3.4% |
| Distributable reserves | 133 | €219,600 | €281,600 | +€62,000 | +28.2% |
| Profit (loss) carried forward | 14 | €4,595 | €4,780 | +€185 | +4.0% |
| Provisions and deferred taxes | 16 | €34,333 | €33,129 | -€1,204 | -3.5% |
| Deferred taxes | 168 | €34,333 | €33,129 | -€1,204 | -3.5% |
| Amounts payable | 17/49 | €673,278 | €573,768 | -€99,511 | -14.8% |
| Amounts payable after more than one year | 17 | €579,006 | €472,869 | -€106,137 | -18.3% |
| Financial debts | 170/4 | €64,006 | €7,869 | -€56,137 | -87.7% |
| Other amounts payable | 178/9 | €515,000 | €465,000 | -€50,000 | -9.7% |
| Amounts payable within one year | 42/48 | €94,272 | €100,899 | +€6,627 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €56,871 | €56,137 | -€733 | -1.3% |
| Trade debts | 44 | €1,306 | €3,653 | +€2,348 | +180% |
| Suppliers | 440/4 | €1,306 | €3,653 | +€2,348 | +180% |
| Taxes, remuneration and social security | 45 | €31,979 | €36,006 | +€4,027 | +12.6% |
| Taxes | 450/3 | €31,979 | €36,006 | +€4,027 | +12.6% |
| Other amounts payable | 47/48 | €4,117 | €5,103 | +€985 | +23.9% |
| Non-recurring operating income | 76A | €4,132 | - | -€4,132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,002 | €53,735 | -€267 | -0.5% |
| Other operating charges | 640/8 | €4,637 | €6,280 | +€1,644 | +35.4% |
| Gross operating margin | 9900 | €161,798 | €150,670 | -€11,128 | -6.9% |
| Operating profit (loss) | 9901 | €103,159 | €90,655 | -€12,504 | -12.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200% |
| Financial charges | 65/66B | €3,074 | €2,388 | -€685 | -22.3% |
| Recurring financial charges | 65 | €3,074 | €2,388 | -€685 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €100,086 | €88,267 | -€11,818 | -11.8% |
| Transfer from deferred taxes | 780 | €1,204 | €1,204 | = | 0.0% |
| Income taxes | 67/77 | €34,790 | €30,900 | -€3,890 | -11.2% |
| Profit (loss) for the period | 9904 | €66,500 | €58,572 | -€7,928 | -11.9% |
| Transfer from tax-exempt reserves | 789 | €3,613 | €3,613 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €70,113 | €62,185 | -€7,928 | -11.3% |
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 23 October 2026 via checked.be.