JOHAN GOOVAERTS: 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.
JOHAN GOOVAERTS
Largest movements
- Tangible fixed assets -€132,292
down €132,292 (-31.1%), from €425,380 to €293,088
of which Plant, machinery and equipment: -€128,133
- Current investments +€100,000
up €100,000 (+5.2%), from €1.9m to €2.0m
- Cash -€95,145
down €95,145 (-42.1%), from €226,132 to €130,987
mainly Contributions, distributions and other (-€250,000) and Current investments (-€100,000)
- Contributions -€250,000
down €250,000 (-30.2%), from €828,600 to €578,600
- Reserves +€140,647
up €140,647 (+8.6%), from €1.6m to €1.8m
- Gross operating margin +€23,700
up €23,700 (+5.9%), from €403,739 to €427,439
- Financial income -€20,348
down €20,348 (-43.3%), from €47,011 to €26,663
- Staff costs +€4,300
up €4,300 (+8.3%), from €51,979 to €56,279
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 | €2,608,751 | €2,497,245 | -€111,506 | -4.3% |
| Fixed assets | 21/28 | €431,127 | €299,029 | -€132,098 | -30.6% |
| Tangible fixed assets | 22/27 | €425,380 | €293,088 | -€132,292 | -31.1% |
| Land and buildings | 22 | €12,765 | - | -€12,765 | |
| Plant, machinery and equipment | 23 | €322,375 | €194,242 | -€128,133 | -39.7% |
| Furniture and vehicles | 24 | €90,240 | €98,846 | +€8,606 | +9.5% |
| Financial fixed assets | 28 | €5,747 | €5,941 | +€194 | +3.4% |
| Current assets | 29/58 | €2,177,624 | €2,198,216 | +€20,592 | +0.9% |
| Amounts receivable within one year | 40/41 | €38,021 | €53,759 | +€15,738 | +41.4% |
| Trade receivables | 40 | €37,837 | €53,532 | +€15,694 | +41.5% |
| Other amounts receivable | 41 | €184 | €227 | +€43 | +23.6% |
| Current investments | 50/53 | €1,913,470 | €2,013,470 | +€100,000 | +5.2% |
| Cash at bank and in hand | 54/58 | €226,132 | €130,987 | -€95,145 | -42.1% |
| Total equity and liabilities | 10/49 | €2,608,751 | €2,497,245 | -€111,506 | -4.3% |
| Equity | 10/15 | €2,536,007 | €2,426,654 | -€109,353 | -4.3% |
| Contributions | 10/11 | €828,600 | €578,600 | -€250,000 | -30.2% |
| Reserves | 13 | €1,638,032 | €1,778,678 | +€140,647 | +8.6% |
| Distributable reserves | 133 | €1,638,032 | €1,778,678 | +€140,647 | +8.6% |
| Profit (loss) carried forward | 14 | €69,376 | €69,376 | = | 0.0% |
| Amounts payable | 17/49 | €72,743 | €70,591 | -€2,152 | -3.0% |
| Amounts payable within one year | 42/48 | €42,653 | €65,802 | +€23,149 | +54.3% |
| Current portion of amounts payable after more than one year | 42 | €4,327 | - | -€4,327 | |
| Trade debts | 44 | €2,850 | €10,893 | +€8,043 | +282% |
| Suppliers | 440/4 | €2,850 | €10,893 | +€8,043 | +282% |
| Taxes, remuneration and social security | 45 | €35,476 | €54,909 | +€19,432 | +54.8% |
| Taxes | 450/3 | €28,751 | €31,761 | +€3,010 | +10.5% |
| Remuneration and social security | 454/9 | €6,725 | €23,148 | +€16,423 | +244% |
| Accrued charges and deferred income | 492/3 | €30,090 | €4,789 | -€25,301 | -84.1% |
| Remuneration, social security and pensions | 62 | €51,979 | €56,279 | +€4,300 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187,922 | €184,866 | -€3,056 | -1.6% |
| Other operating charges | 640/8 | €1,937 | €1,681 | -€256 | -13.2% |
| Non-recurring operating charges | 66A | €4,676 | €3,077 | -€1,599 | -34.2% |
| Gross operating margin | 9900 | €403,739 | €427,439 | +€23,700 | +5.9% |
| Operating profit (loss) | 9901 | €157,224 | €181,536 | +€24,312 | +15.5% |
| Financial income | 75/76B | €47,011 | €26,663 | -€20,348 | -43.3% |
| Recurring financial income | 75 | €47,011 | €26,663 | -€20,348 | -43.3% |
| Financial charges | 65/66B | €2,476 | €2,405 | -€72 | -2.9% |
| Recurring financial charges | 65 | €2,476 | €2,405 | -€72 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €201,758 | €205,794 | +€4,036 | +2.0% |
| Income taxes | 67/77 | €63,014 | €65,147 | +€2,133 | +3.4% |
| Profit (loss) for the period | 9904 | €138,744 | €140,647 | +€1,903 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €138,744 | €140,647 | +€1,903 | +1.4% |
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 31 October 2026 via checked.be.