LOUIS GOETHALS: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
LOUIS GOETHALS
Largest movements
- Cash +€25,964
up €25,964 (+41.3%), from €62,905 to €88,869
mainly Net result for the year (+€32,797) and Depreciation (+€11,560)
- Receivables within one year -€3,773
down €3,773 (-18.1%), from €20,822 to €17,049
- Reserves +€32,797
up €32,797 (+29.1%), from €112,895 to €145,692
- Debts after one year -€11,147
down €11,147 (-59.1%), from €18,862 to €7,715
- Gross operating margin -€5,278
down €5,278 (-8.5%), from €61,803 to €56,525
- Depreciation +€1,363
up €1,363 (+13.4%), from €10,198 to €11,560
- Taxes +€858
up €858 (+8.3%), from €10,374 to €11,232
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €158,755 | €182,308 | +€23,553 | +14.8% |
| Fixed assets | 21/28 | €39,029 | €40,391 | +€1,362 | +3.5% |
| Tangible fixed assets | 22/27 | €39,029 | €40,391 | +€1,362 | +3.5% |
| Furniture and vehicles | 24 | €39,029 | €28,486 | -€10,543 | -27.0% |
| Other tangible fixed assets | 26 | - | €11,905 | +€11,905 | |
| Current assets | 29/58 | €119,726 | €141,918 | +€22,191 | +18.5% |
| Amounts receivable after more than one year | 29 | €36,000 | €36,000 | = | 0.0% |
| Other amounts receivable | 291 | €36,000 | €36,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €20,822 | €17,049 | -€3,773 | -18.1% |
| Trade receivables | 40 | €20,822 | €17,049 | -€3,773 | -18.1% |
| Cash at bank and in hand | 54/58 | €62,905 | €88,869 | +€25,964 | +41.3% |
| Total equity and liabilities | 10/49 | €158,755 | €182,308 | +€23,553 | +14.8% |
| Equity | 10/15 | €115,895 | €148,692 | +€32,797 | +28.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €112,895 | €145,692 | +€32,797 | +29.1% |
| Distributable reserves | 133 | €112,895 | €145,692 | +€32,797 | +29.1% |
| Amounts payable | 17/49 | €42,860 | €33,616 | -€9,244 | -21.6% |
| Amounts payable after more than one year | 17 | €18,862 | €7,715 | -€11,147 | -59.1% |
| Financial debts | 170/4 | €18,862 | €7,715 | -€11,147 | -59.1% |
| Amounts payable within one year | 42/48 | €23,999 | €25,901 | +€1,903 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €10,656 | €11,147 | +€491 | +4.6% |
| Trade debts | 44 | €134 | €883 | +€749 | +559% |
| Suppliers | 440/4 | €134 | €883 | +€749 | +559% |
| Taxes, remuneration and social security | 45 | €12,605 | €13,532 | +€926 | +7.3% |
| Taxes | 450/3 | €12,605 | €13,532 | +€926 | +7.3% |
| Other amounts payable | 47/48 | €603 | €340 | -€263 | -43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,198 | €11,560 | +€1,363 | +13.4% |
| Other operating charges | 640/8 | €320 | €495 | +€175 | +54.5% |
| Gross operating margin | 9900 | €61,803 | €56,525 | -€5,278 | -8.5% |
| Operating profit (loss) | 9901 | €51,285 | €44,470 | -€6,816 | -13.3% |
| Financial income | 75/76B | €945 | €1,021 | +€76 | +8.0% |
| Recurring financial income | 75 | €945 | €1,021 | +€76 | +8.0% |
| Financial charges | 65/66B | €1,803 | €1,462 | -€341 | -18.9% |
| Recurring financial charges | 65 | €1,803 | €1,462 | -€341 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €50,427 | €44,029 | -€6,398 | -12.7% |
| Income taxes | 67/77 | €10,374 | €11,232 | +€858 | +8.3% |
| Profit (loss) for the period | 9904 | €40,053 | €32,797 | -€7,256 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,053 | €32,797 | -€7,256 | -18.1% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.