Steven Van Goethem: what changed
Steven Van Goethem
Largest movements
- Tangible fixed assets -€16,472
down €16,472 (-9.1%), from €180,908 to €164,436
of which Furniture and vehicles: -€12,393
- Intangible fixed assets -€4,490
down €4,490 (-16.7%), from €26,938 to €22,448
- Cash +€3,452
up €3,452 (+8.5%), from €40,494 to €43,946
mainly Depreciation (+€22,929) and Net result for the year (+€14,456)
- Receivables within one year +€3,054
up €3,054 (+11.2%), from €27,348 to €30,403
of which Other amounts receivable: +€2,713
- Debts after one year -€22,613
down €22,613 (-15.5%), from €145,487 to €122,875
- Reserves +€14,456
up €14,456 (+19.1%), from €75,585 to €90,041
- Other debts -€6,012
down €6,012 (-53.7%), from €11,185 to €5,174
- Staff costs -€40,811
down €40,811 (-42.0%), from €97,164 to €56,353
- Gross operating margin -€34,090
down €34,090 (-24.2%), from €141,054 to €106,964
- Taxes +€1,555
up €1,555 (+35.3%), from €4,401 to €5,956
- Financial charges -€1,490
down €1,490 (-24.6%), from €6,053 to €4,563
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 | €278,100 | €264,316 | -€13,784 | -5.0% |
| Fixed assets | 21/28 | €207,846 | €186,885 | -€20,962 | -10.1% |
| Intangible fixed assets | 21 | €26,938 | €22,448 | -€4,490 | -16.7% |
| Tangible fixed assets | 22/27 | €180,908 | €164,436 | -€16,472 | -9.1% |
| Land and buildings | 22 | €126,054 | €120,456 | -€5,598 | -4.4% |
| Plant, machinery and equipment | 23 | €336 | €1,855 | +€1,519 | +453% |
| Furniture and vehicles | 24 | €54,518 | €42,126 | -€12,393 | -22.7% |
| Current assets | 29/58 | €70,254 | €77,432 | +€7,178 | +10.2% |
| Amounts receivable within one year | 40/41 | €27,348 | €30,403 | +€3,054 | +11.2% |
| Trade receivables | 40 | €10,895 | €11,236 | +€341 | +3.1% |
| Other amounts receivable | 41 | €16,453 | €19,166 | +€2,713 | +16.5% |
| Cash at bank and in hand | 54/58 | €40,494 | €43,946 | +€3,452 | +8.5% |
| Deferred charges and accrued income | 490/1 | €2,411 | €3,083 | +€672 | +27.9% |
| Total equity and liabilities | 10/49 | €278,100 | €264,316 | -€13,784 | -5.0% |
| Equity | 10/15 | €87,985 | €102,441 | +€14,456 | +16.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €75,585 | €90,041 | +€14,456 | +19.1% |
| Distributable reserves | 133 | €75,585 | €90,041 | +€14,456 | +19.1% |
| Amounts payable | 17/49 | €190,114 | €161,875 | -€28,239 | -14.9% |
| Amounts payable after more than one year | 17 | €145,487 | €122,875 | -€22,613 | -15.5% |
| Financial debts | 170/4 | €145,487 | €122,875 | -€22,613 | -15.5% |
| Amounts payable within one year | 42/48 | €44,627 | €39,000 | -€5,627 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €23,527 | €22,613 | -€915 | -3.9% |
| Trade debts | 44 | €5,431 | €6,503 | +€1,072 | +19.7% |
| Suppliers | 440/4 | €5,431 | €6,503 | +€1,072 | +19.7% |
| Taxes, remuneration and social security | 45 | €4,483 | €4,711 | +€228 | +5.1% |
| Taxes | 450/3 | €1,684 | €1,117 | -€567 | -33.7% |
| Remuneration and social security | 454/9 | €2,799 | €3,594 | +€795 | +28.4% |
| Other amounts payable | 47/48 | €11,185 | €5,174 | -€6,012 | -53.7% |
| Remuneration, social security and pensions | 62 | €97,164 | €56,353 | -€40,811 | -42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,018 | €22,929 | +€912 | +4.1% |
| Other operating charges | 640/8 | €1,810 | €2,053 | +€243 | +13.4% |
| Non-recurring operating charges | 66A | - | €654 | +€654 | |
| Gross operating margin | 9900 | €141,054 | €106,964 | -€34,090 | -24.2% |
| Operating profit (loss) | 9901 | €20,063 | €24,975 | +€4,912 | +24.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €6,053 | €4,563 | -€1,490 | -24.6% |
| Recurring financial charges | 65 | €6,053 | €4,563 | -€1,490 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €14,009 | €20,412 | +€6,403 | +45.7% |
| Income taxes | 67/77 | €4,401 | €5,956 | +€1,555 | +35.3% |
| Profit (loss) for the period | 9904 | €9,608 | €14,456 | +€4,848 | +50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,608 | €14,456 | +€4,848 | +50.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.