LODE GOLTSTEIN: 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.
LODE GOLTSTEIN
Largest movements
- Tangible fixed assets +€16,026
up €16,026 (+667.1%), from €2,402 to €18,428
of which Plant, machinery and equipment: +€16,621
- Cash +€6,442
up €6,442 (+66.1%), from €9,745 to €16,188
mainly Other debts (+€52,185) and Receivables within one year (+€4,209)
- Receivables within one year -€4,209
down €4,209 (-38.9%), from €10,830 to €6,621
of which Other amounts receivable: -€3,578
- Deferred charges and accrued income +€831
up €831 (+190.8%), from €435 to €1,266
- Other debts +€52,185
up €52,185 (+395.8%), from €13,185 to €65,371
- Profit (loss) carried forward -€21,742
down €21,742 (-72.1%), from -€30,163 to -€51,905
- Debts after one year -€10,284
down €10,284 (-51.0%), from €20,179 to €9,896
- Trade debts -€2,409
down €2,409 (-27.0%), from €8,919 to €6,510
- Tax, wage and social debts +€830
up €830 (+16.8%), from €4,933 to €5,763
of which Remuneration and social security: +€1,026
- Gross operating margin +€9,347
up €9,347 (+36.6%), from -€25,514 to -€16,167
- Other operating charges +€357
up €357 (+46.1%), from €773 to €1,130
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 | €29,828 | €48,918 | +€19,090 | +64.0% |
| Fixed assets | 21/28 | €2,402 | €18,428 | +€16,026 | +667.1% |
| Tangible fixed assets | 22/27 | €2,402 | €18,428 | +€16,026 | +667.1% |
| Plant, machinery and equipment | 23 | €1,755 | €18,376 | +€16,621 | +947.2% |
| Furniture and vehicles | 24 | €648 | €53 | -€595 | -91.9% |
| Current assets | 29/58 | €27,426 | €30,490 | +€3,064 | +11.2% |
| Stocks and contracts in progress | 3 | €6,415 | €6,415 | = | 0.0% |
| Stocks | 30/36 | €6,415 | €6,415 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,830 | €6,621 | -€4,209 | -38.9% |
| Trade receivables | 40 | €6,162 | €5,531 | -€632 | -10.3% |
| Other amounts receivable | 41 | €4,668 | €1,090 | -€3,578 | -76.6% |
| Cash at bank and in hand | 54/58 | €9,745 | €16,188 | +€6,442 | +66.1% |
| Deferred charges and accrued income | 490/1 | €435 | €1,266 | +€831 | +190.8% |
| Total equity and liabilities | 10/49 | €29,828 | €48,918 | +€19,090 | +64.0% |
| Equity | 10/15 | -€27,163 | -€48,905 | -€21,742 | -80.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,163 | -€51,905 | -€21,742 | -72.1% |
| Amounts payable | 17/49 | €56,992 | €97,823 | +€40,831 | +71.6% |
| Amounts payable after more than one year | 17 | €20,179 | €9,896 | -€10,284 | -51.0% |
| Financial debts | 170/4 | €20,179 | €9,896 | -€10,284 | -51.0% |
| Amounts payable within one year | 42/48 | €36,813 | €87,927 | +€51,115 | +138.9% |
| Current portion of amounts payable after more than one year | 42 | €9,775 | €10,284 | +€508 | +5.2% |
| Trade debts | 44 | €8,919 | €6,510 | -€2,409 | -27.0% |
| Suppliers | 440/4 | €8,919 | €6,510 | -€2,409 | -27.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €4,933 | €5,763 | +€830 | +16.8% |
| Taxes | 450/3 | €196 | €0 | -€196 | -100.0% |
| Remuneration and social security | 454/9 | €4,737 | €5,763 | +€1,026 | +21.7% |
| Other amounts payable | 47/48 | €13,185 | €65,371 | +€52,185 | +395.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,968 | €1,974 | +€6 | +0.3% |
| Other operating charges | 640/8 | €773 | €1,130 | +€357 | +46.1% |
| Gross operating margin | 9900 | -€25,514 | -€16,167 | +€9,347 | +36.6% |
| Operating profit (loss) | 9901 | -€28,255 | -€19,271 | +€8,984 | +31.8% |
| Financial income | 75/76B | €211 | €91 | -€120 | -56.7% |
| Recurring financial income | 75 | €211 | €91 | -€120 | -56.7% |
| Financial charges | 65/66B | €2,650 | €2,562 | -€88 | -3.3% |
| Recurring financial charges | 65 | €2,650 | €2,562 | -€88 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | -€30,694 | -€21,742 | +€8,952 | +29.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€30,694 | -€21,742 | +€8,952 | +29.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,694 | -€21,742 | +€8,952 | +29.2% |
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 10 October 2026 via checked.be.