GOTH: 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.
GOTH
Largest movements
- Receivables within one year +€16,285
up €16,285 (+128.8%), from €12,647 to €28,932
of which Other amounts receivable: +€13,203
- Cash -€3,670
down €3,670 (-27.6%), from €13,286 to €9,616
mainly Receivables within one year (-€16,285) and Investment in fixed assets (net) (-€2,737)
- Reserves +€9,727
up €9,727 (+51.5%), from €18,881 to €28,608
- Other debts +€3,190
new in 2025: €3,190
- Tax, wage and social debts -€1,140
down €1,140 (-54.0%), from €2,113 to €973
of which Taxes: -€1,140
- Financial charges -€1,324
down €1,324 (-34.3%), from €3,862 to €2,538
- Taxes -€1,220
down €1,220 (-17.3%), from €7,054 to €5,834
- Gross operating margin -€983
down €983 (-4.1%), from €24,235 to €23,252
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 | €43,726 | €55,839 | +€12,113 | +27.7% |
| Fixed assets | 21/28 | €11,808 | €11,416 | -€392 | -3.3% |
| Tangible fixed assets | 22/27 | €11,808 | €11,416 | -€392 | -3.3% |
| Plant, machinery and equipment | 23 | €6,141 | €7,092 | +€951 | +15.5% |
| Furniture and vehicles | 24 | €5,667 | €4,324 | -€1,343 | -23.7% |
| Current assets | 29/58 | €31,918 | €44,424 | +€12,505 | +39.2% |
| Amounts receivable within one year | 40/41 | €12,647 | €28,932 | +€16,285 | +128.8% |
| Trade receivables | 40 | €189 | €3,270 | +€3,082 | +1634.8% |
| Other amounts receivable | 41 | €12,458 | €25,661 | +€13,203 | +106.0% |
| Cash at bank and in hand | 54/58 | €13,286 | €9,616 | -€3,670 | -27.6% |
| Deferred charges and accrued income | 490/1 | €5,986 | €5,875 | -€110 | -1.8% |
| Total equity and liabilities | 10/49 | €43,726 | €55,839 | +€12,113 | +27.7% |
| Equity | 10/15 | €40,196 | €49,923 | +€9,727 | +24.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,881 | €28,608 | +€9,727 | +51.5% |
| Distributable reserves | 133 | €18,881 | €28,608 | +€9,727 | +51.5% |
| Profit (loss) carried forward | 14 | €15,115 | €15,115 | = | 0.0% |
| Amounts payable | 17/49 | €3,530 | €5,916 | +€2,386 | +67.6% |
| Amounts payable within one year | 42/48 | €3,530 | €5,916 | +€2,386 | +67.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,417 | €1,754 | +€337 | +23.8% |
| Suppliers | 440/4 | €1,417 | €1,754 | +€337 | +23.8% |
| Taxes, remuneration and social security | 45 | €2,113 | €973 | -€1,140 | -54.0% |
| Taxes | 450/3 | €2,113 | €973 | -€1,140 | -54.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €3,190 | +€3,190 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,902 | €3,129 | +€226 | +7.8% |
| Other operating charges | 640/8 | €2,183 | €2,025 | -€159 | -7.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €24,235 | €23,252 | -€983 | -4.1% |
| Operating profit (loss) | 9901 | €19,149 | €18,098 | -€1,051 | -5.5% |
| Financial income | 75/76B | €82 | €0 | -€82 | -100.0% |
| Recurring financial income | 75 | €82 | €0 | -€82 | -100.0% |
| Financial charges | 65/66B | €3,862 | €2,538 | -€1,324 | -34.3% |
| Recurring financial charges | 65 | €3,862 | €2,538 | -€1,324 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €15,369 | €15,561 | +€191 | +1.2% |
| Income taxes | 67/77 | €7,054 | €5,834 | -€1,220 | -17.3% |
| Profit (loss) for the period | 9904 | €8,316 | €9,727 | +€1,411 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,316 | €9,727 | +€1,411 | +17.0% |
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 2 October 2026 via checked.be.