JEAN GOFFARD: 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.
JEAN GOFFARD
Largest movements
- Tangible fixed assets +€63,308
up €63,308 (+170%), from €37,152 to €100,460
of which Plant, machinery and equipment: +€48,389
- Receivables within one year +€56,848
up €56,848 (+22.7%), from €250,944 to €307,793
of which Trade receivables: +€57,065
- Stocks and contracts -€26,726
down €26,726 (-20.8%), from €128,472 to €101,745
- Cash +€11,328
up €11,328 (+7.3%), from €156,095 to €167,424
mainly Trade debts (+€63,737) and Net result for the year (+€55,413)
- Financial fixed assets +€9,476
up €9,476 (+128%), from €7,380 to €16,856
- Trade debts +€63,737
up €63,737 (+20.4%), from €311,850 to €375,587
- Reserves +€55,413
up €55,413 (+28.2%), from €196,205 to €251,618
- Purchases and services +€631,615
up €631,615 (+20.0%), from €3.2m to €3.8m
- Gross operating margin +€186,587
up €186,587 (+23.4%), from €798,841 to €985,428
- Staff costs +€156,500
up €156,500 (+21.7%), from €721,000 to €877,500
- Other operating charges -€10,811
down €10,811 (-52.2%), from €20,697 to €9,885
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 | €591,771 | €707,519 | +€115,748 | +19.6% |
| Fixed assets | 21/28 | €44,532 | €117,316 | +€72,784 | +163% |
| Tangible fixed assets | 22/27 | €37,152 | €100,460 | +€63,308 | +170% |
| Land and buildings | 22 | €36 | €31 | -€5 | -14.3% |
| Plant, machinery and equipment | 23 | €19,124 | €67,513 | +€48,389 | +253% |
| Furniture and vehicles | 24 | €17,992 | €32,916 | +€14,924 | +82.9% |
| Financial fixed assets | 28 | €7,380 | €16,856 | +€9,476 | +128% |
| Current assets | 29/58 | €547,239 | €590,203 | +€42,964 | +7.9% |
| Stocks and contracts in progress | 3 | €128,472 | €101,745 | -€26,726 | -20.8% |
| Stocks | 30/36 | €128,472 | €101,745 | -€26,726 | -20.8% |
| Amounts receivable within one year | 40/41 | €250,944 | €307,793 | +€56,848 | +22.7% |
| Trade receivables | 40 | €246,481 | €303,545 | +€57,065 | +23.2% |
| Other amounts receivable | 41 | €4,464 | €4,247 | -€217 | -4.9% |
| Cash at bank and in hand | 54/58 | €156,095 | €167,424 | +€11,328 | +7.3% |
| Deferred charges and accrued income | 490/1 | €11,728 | €13,241 | +€1,514 | +12.9% |
| Total equity and liabilities | 10/49 | €591,771 | €707,519 | +€115,748 | +19.6% |
| Equity | 10/15 | €214,797 | €270,210 | +€55,413 | +25.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €196,205 | €251,618 | +€55,413 | +28.2% |
| Distributable reserves | 133 | €196,205 | €251,618 | +€55,413 | +28.2% |
| Amounts payable | 17/49 | €376,974 | €437,309 | +€60,335 | +16.0% |
| Amounts payable within one year | 42/48 | €376,974 | €437,309 | +€60,335 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €23,247 | €17,255 | -€5,993 | -25.8% |
| Trade debts | 44 | €311,850 | €375,587 | +€63,737 | +20.4% |
| Suppliers | 440/4 | €311,850 | €375,587 | +€63,737 | +20.4% |
| Taxes, remuneration and social security | 45 | €41,877 | €40,569 | -€1,308 | -3.1% |
| Taxes | 450/3 | €8,398 | €3,663 | -€4,735 | -56.4% |
| Remuneration and social security | 454/9 | €33,479 | €36,906 | +€3,427 | +10.2% |
| Other amounts payable | 47/48 | - | €3,899 | +€3,899 | |
| Goods, raw materials, services and sundry goods | 60/61 | €3,156,407 | €3,788,022 | +€631,615 | +20.0% |
| Remuneration, social security and pensions | 62 | €721,000 | €877,500 | +€156,500 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,737 | €26,272 | +€534 | +2.1% |
| Other operating charges | 640/8 | €20,697 | €9,885 | -€10,811 | -52.2% |
| Gross operating margin | 9900 | €798,841 | €985,428 | +€186,587 | +23.4% |
| Operating profit (loss) | 9901 | €31,407 | €71,771 | +€40,364 | +129% |
| Financial income | 75/76B | €4,651 | €427 | -€4,223 | -90.8% |
| Recurring financial income | 75 | €4,651 | €427 | -€4,223 | -90.8% |
| Financial charges | 65/66B | €16,997 | €9,676 | -€7,321 | -43.1% |
| Recurring financial charges | 65 | €16,997 | €9,676 | -€7,321 | -43.1% |
| Profit (loss) for the period before taxes | 9903 | €19,060 | €62,522 | +€43,462 | +228% |
| Income taxes | 67/77 | - | €7,109 | +€7,109 | |
| Profit (loss) for the period | 9904 | €19,060 | €55,413 | +€36,353 | +191% |
| Profit (loss) for the period to be appropriated | 9905 | €19,060 | €55,413 | +€36,353 | +191% |
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 18 October 2026 via checked.be.