PJ Goeman: 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.
PJ Goeman
Largest movements
- Cash +€52,018
up €52,018 (+70.4%), from €73,919 to €125,937
mainly Net result for the year (+€58,162) and Depreciation (+€954)
- Tangible fixed assets +€4,316
up €4,316 (+398%), from €1,084 to €5,400
- Receivables within one year +€1,471
up €1,471 (+13.5%), from €10,871 to €12,342
- Profit (loss) carried forward +€58,162
up €58,162 (+93.7%), from €62,074 to €120,236
- Tax, wage and social debts -€1,640
down €1,640 (-7.2%), from €22,796 to €21,156
- Gross operating margin -€4,108
down €4,108 (-5.2%), from €78,640 to €74,532
- Taxes -€994
down €994 (-6.3%), from €15,785 to €14,791
- Depreciation +€798
up €798 (+509%), from €157 to €954
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 | €89,162 | €146,259 | +€57,097 | +64.0% |
| Fixed assets | 21/28 | €1,084 | €5,400 | +€4,316 | +398% |
| Tangible fixed assets | 22/27 | €1,084 | €5,400 | +€4,316 | +398% |
| Furniture and vehicles | 24 | €1,084 | €5,400 | +€4,316 | +398% |
| Current assets | 29/58 | €88,078 | €140,859 | +€52,781 | +59.9% |
| Amounts receivable within one year | 40/41 | €10,871 | €12,342 | +€1,471 | +13.5% |
| Trade receivables | 40 | €10,871 | €12,342 | +€1,471 | +13.5% |
| Cash at bank and in hand | 54/58 | €73,919 | €125,937 | +€52,018 | +70.4% |
| Deferred charges and accrued income | 490/1 | €3,288 | €2,580 | -€708 | -21.5% |
| Total equity and liabilities | 10/49 | €89,162 | €146,259 | +€57,097 | +64.0% |
| Equity | 10/15 | €65,074 | €123,236 | +€58,162 | +89.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,074 | €120,236 | +€58,162 | +93.7% |
| Amounts payable | 17/49 | €24,088 | €23,023 | -€1,065 | -4.4% |
| Amounts payable within one year | 42/48 | €24,088 | €23,023 | -€1,065 | -4.4% |
| Trade debts | 44 | €410 | €601 | +€191 | +46.6% |
| Suppliers | 440/4 | €410 | €601 | +€191 | +46.6% |
| Taxes, remuneration and social security | 45 | €22,796 | €21,156 | -€1,640 | -7.2% |
| Taxes | 450/3 | €22,796 | €21,156 | -€1,640 | -7.2% |
| Other amounts payable | 47/48 | €882 | €1,266 | +€385 | +43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157 | €954 | +€798 | +509% |
| Gross operating margin | 9900 | €78,640 | €74,532 | -€4,108 | -5.2% |
| Operating profit (loss) | 9901 | €78,483 | €73,578 | -€4,905 | -6.3% |
| Financial charges | 65/66B | €623 | €625 | +€2 | +0.3% |
| Recurring financial charges | 65 | €623 | €625 | +€2 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €77,859 | €72,952 | -€4,907 | -6.3% |
| Income taxes | 67/77 | €15,785 | €14,791 | -€994 | -6.3% |
| Profit (loss) for the period | 9904 | €62,074 | €58,162 | -€3,913 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €62,074 | €58,162 | -€3,913 | -6.3% |
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 14 October 2026 via checked.be.