Patrick Goovaerts: what changed
Two fiscal 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.
Patrick Goovaerts
Largest movements
- Receivables within one year -€38,152
down €38,152 (-94.9%), from €40,219 to €2,066
of which Trade receivables: -€38,543
- Tangible fixed assets +€25,220
up €25,220 (+3.6%), from €694,136 to €719,357
of which Land and buildings: +€22,567
- Debts after one year +€90,027
up €90,027 (+17.7%), from €509,625 to €599,652
- Other debts -€89,038
down €89,038 (-35.3%), from €252,416 to €163,378
- Trade debts -€36,705
down €36,705 (-86.7%), from €42,317 to €5,612
- Profit (loss) carried forward +€18,678
up €18,678 (+78.8%), from -€23,694 to -€5,016
- Current portion of long-term debt +€8,755
up €8,755 (+18.3%), from €47,717 to €56,471
- Gross operating margin -€69,910
down €69,910 (-37.2%), from €187,875 to €117,965
- Depreciation +€3,370
up €3,370 (+4.5%), from €74,579 to €77,949
- Financial charges +€3,191
up €3,191 (+28.3%), from €11,261 to €14,452
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 | €845,748 | €833,112 | -€12,636 | -1.5% |
| Fixed assets | 21/28 | €694,786 | €720,007 | +€25,220 | +3.6% |
| Tangible fixed assets | 22/27 | €694,136 | €719,357 | +€25,220 | +3.6% |
| Land and buildings | 22 | €650,644 | €673,210 | +€22,567 | +3.5% |
| Plant, machinery and equipment | 23 | €31,480 | €29,378 | -€2,102 | -6.7% |
| Furniture and vehicles | 24 | €12,012 | €16,768 | +€4,756 | +39.6% |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €150,962 | €113,105 | -€37,856 | -25.1% |
| Amounts receivable within one year | 40/41 | €40,219 | €2,066 | -€38,152 | -94.9% |
| Trade receivables | 40 | €40,208 | €1,665 | -€38,543 | -95.9% |
| Other amounts receivable | 41 | €11 | €401 | +€390 | +3556.1% |
| Cash at bank and in hand | 54/58 | €108,914 | €108,731 | -€183 | -0.2% |
| Deferred charges and accrued income | 490/1 | €1,829 | €2,308 | +€479 | +26.2% |
| Total equity and liabilities | 10/49 | €845,748 | €833,112 | -€12,636 | -1.5% |
| Equity | 10/15 | -€10,694 | €7,984 | +€18,678 | |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,694 | -€5,016 | +€18,678 | +78.8% |
| Amounts payable | 17/49 | €856,442 | €825,128 | -€31,314 | -3.7% |
| Amounts payable after more than one year | 17 | €509,625 | €599,652 | +€90,027 | +17.7% |
| Financial debts | 170/4 | €509,625 | €599,652 | +€90,027 | +17.7% |
| Amounts payable within one year | 42/48 | €345,878 | €225,476 | -€120,402 | -34.8% |
| Current portion of amounts payable after more than one year | 42 | €47,717 | €56,471 | +€8,755 | +18.3% |
| Trade debts | 44 | €42,317 | €5,612 | -€36,705 | -86.7% |
| Suppliers | 440/4 | €42,317 | €5,612 | -€36,705 | -86.7% |
| Taxes, remuneration and social security | 45 | €3,429 | €15 | -€3,414 | -99.6% |
| Taxes | 450/3 | €3,429 | €15 | -€3,414 | -99.6% |
| Other amounts payable | 47/48 | €252,416 | €163,378 | -€89,038 | -35.3% |
| Accrued charges and deferred income | 492/3 | €939 | - | -€939 | |
| Non-recurring operating income | 76A | - | €1,423 | +€1,423 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,579 | €77,949 | +€3,370 | +4.5% |
| Other operating charges | 640/8 | €4,177 | €5,788 | +€1,611 | +38.6% |
| Non-recurring operating charges | 66A | €7,996 | €1,150 | -€6,846 | -85.6% |
| Gross operating margin | 9900 | €187,875 | €117,965 | -€69,910 | -37.2% |
| Operating profit (loss) | 9901 | €101,123 | €33,078 | -€68,045 | -67.3% |
| Financial income | 75/76B | €377 | €51 | -€325 | -86.4% |
| Recurring financial income | 75 | €377 | €51 | -€325 | -86.4% |
| Financial charges | 65/66B | €11,261 | €14,452 | +€3,191 | +28.3% |
| Recurring financial charges | 65 | €11,261 | €14,452 | +€3,191 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €90,239 | €18,678 | -€71,561 | -79.3% |
| Profit (loss) for the period | 9904 | €90,239 | €18,678 | -€71,561 | -79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,239 | €18,678 | -€71,561 | -79.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.