GOWACO: 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.
GOWACO
Largest movements
- Receivables after one year +€109,600
new in 2024: €109,600
- Cash +€88,354
up €88,354 (+660.0%), from €13,387 to €101,741
mainly Accrued charges and deferred income (+€106,979) and Net result for the year (+€85,894)
- Receivables within one year +€23,032
up €23,032 (+16.6%), from €138,332 to €161,365
of which Trade receivables: +€111,934
- Deferred charges and accrued income -€7,434
down €7,434 (-88.8%), from €8,369 to €935
- Accrued charges and deferred income +€106,979
new in 2024: €106,979
- Reserves +€85,894
new in 2024: €85,894
- Trade debts +€15,990
up €15,990 (+58.7%), from €27,232 to €43,222
- Staff costs -€27,039
down €27,039 (-23.1%), from €117,060 to €90,021
- Gross operating margin -€18,849
down €18,849 (-8.1%), from €233,780 to €214,931
- Taxes +€9,310
up €9,310 (+34.5%), from €26,958 to €36,268
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €163,425 | €375,553 | +€212,128 | +129.8% |
| Fixed assets | 21/28 | €3,337 | €1,912 | -€1,425 | -42.7% |
| Tangible fixed assets | 22/27 | €3,337 | €1,912 | -€1,425 | -42.7% |
| Furniture and vehicles | 24 | €3,337 | €1,912 | -€1,425 | -42.7% |
| Current assets | 29/58 | €160,088 | €373,641 | +€213,553 | +133.4% |
| Amounts receivable after more than one year | 29 | - | €109,600 | +€109,600 | |
| Other amounts receivable | 291 | - | €109,600 | +€109,600 | |
| Amounts receivable within one year | 40/41 | €138,332 | €161,365 | +€23,032 | +16.6% |
| Trade receivables | 40 | €49,431 | €161,365 | +€111,934 | +226.4% |
| Other amounts receivable | 41 | €88,901 | - | -€88,901 | |
| Cash at bank and in hand | 54/58 | €13,387 | €101,741 | +€88,354 | +660.0% |
| Deferred charges and accrued income | 490/1 | €8,369 | €935 | -€7,434 | -88.8% |
| Total equity and liabilities | 10/49 | €163,425 | €375,553 | +€212,128 | +129.8% |
| Equity | 10/15 | €110,034 | €195,928 | +€85,894 | +78.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €85,894 | +€85,894 | |
| Distributable reserves | 133 | - | €85,894 | +€85,894 | |
| Profit (loss) carried forward | 14 | €91,434 | €91,434 | = | 0.0% |
| Amounts payable | 17/49 | €53,391 | €179,625 | +€126,234 | +236.4% |
| Amounts payable within one year | 42/48 | €53,391 | €72,647 | +€19,255 | +36.1% |
| Trade debts | 44 | €27,232 | €43,222 | +€15,990 | +58.7% |
| Suppliers | 440/4 | €27,232 | €43,222 | +€15,990 | +58.7% |
| Advances received on contracts in progress | 46 | €91 | €91 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €26,068 | €29,334 | +€3,265 | +12.5% |
| Taxes | 450/3 | €16,456 | €29,334 | +€12,877 | +78.2% |
| Remuneration and social security | 454/9 | €9,612 | - | -€9,612 | |
| Accrued charges and deferred income | 492/3 | - | €106,979 | +€106,979 | |
| Remuneration, social security and pensions | 62 | €117,060 | €90,021 | -€27,039 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,780 | €1,425 | -€355 | -20.0% |
| Other operating charges | 640/8 | €1,477 | €974 | -€504 | -34.1% |
| Gross operating margin | 9900 | €233,780 | €214,931 | -€18,849 | -8.1% |
| Operating profit (loss) | 9901 | €113,463 | €122,511 | +€9,048 | +8.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €780 | €350 | -€431 | -55.2% |
| Recurring financial charges | 65 | €780 | €350 | -€431 | -55.2% |
| Profit (loss) for the period before taxes | 9903 | €112,683 | €122,162 | +€9,479 | +8.4% |
| Income taxes | 67/77 | €26,958 | €36,268 | +€9,310 | +34.5% |
| Profit (loss) for the period | 9904 | €85,725 | €85,894 | +€169 | +0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €85,725 | €85,894 | +€169 | +0.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.