VAN GOETHEM: 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.
VAN GOETHEM
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+217.1%), from €483,571 to €1.5m
of which Plant, machinery and equipment: +€869,378
- Receivables within one year -€187,764
down €187,764 (-16.8%), from €1.1m to €926,912
of which Trade receivables: -€188,487
- Cash -€49,710
down €49,710 (-5.8%), from €855,823 to €806,113
mainly Investment in fixed assets (net) (-€1.2m) and Debts after one year (-€82,737)
- Stocks and contracts -€43,248
down €43,248 (-7.2%), from €603,363 to €560,115
- Reserves +€419,887
up €419,887 (+22.3%), from €1.9m to €2.3m
of which Distributable reserves: +€419,887
- Trade debts +€285,419
up €285,419 (+164.1%), from €173,896 to €459,315
- Other debts +€168,490
up €168,490 (+38.9%), from €433,193 to €601,682
- Debts after one year -€82,737
down €82,737 (-94.4%), from €87,670 to €4,933
of which Financial debts: -€83,587
- Gross operating margin +€284,192
up €284,192 (+40.5%), from €701,384 to €985,575
- Staff costs +€73,584
up €73,584 (+29.7%), from €247,682 to €321,267
- Depreciation +€39,245
up €39,245 (+43.7%), from €89,817 to €129,062
- Taxes +€9,973
up €9,973 (+11.4%), from €87,370 to €97,344
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,079,311 | €3,850,625 | +€771,314 | +25.0% |
| Fixed assets | 21/28 | €485,580 | €1,535,512 | +€1.0m | +216.2% |
| Tangible fixed assets | 22/27 | €483,571 | €1,533,503 | +€1.0m | +217.1% |
| Land and buildings | 22 | €193,194 | €193,194 | = | 0.0% |
| Plant, machinery and equipment | 23 | €13,497 | €882,874 | +€869,378 | +6441.4% |
| Furniture and vehicles | 24 | €276,880 | €457,435 | +€180,554 | +65.2% |
| Financial fixed assets | 28 | €2,009 | €2,009 | = | 0.0% |
| Current assets | 29/58 | €2,593,731 | €2,315,113 | -€278,618 | -10.7% |
| Stocks and contracts in progress | 3 | €603,363 | €560,115 | -€43,248 | -7.2% |
| Stocks | 30/36 | €603,363 | €560,115 | -€43,248 | -7.2% |
| Amounts receivable within one year | 40/41 | €1,114,675 | €926,912 | -€187,764 | -16.8% |
| Trade receivables | 40 | €884,760 | €696,273 | -€188,487 | -21.3% |
| Other amounts receivable | 41 | €229,915 | €230,639 | +€724 | +0.3% |
| Cash at bank and in hand | 54/58 | €855,823 | €806,113 | -€49,710 | -5.8% |
| Deferred charges and accrued income | 490/1 | €19,870 | €21,973 | +€2,103 | +10.6% |
| Total equity and liabilities | 10/49 | €3,079,311 | €3,850,625 | +€771,314 | +25.0% |
| Equity | 10/15 | €2,196,414 | €2,616,300 | +€419,887 | +19.1% |
| Contributions | 10/11 | €316,808 | €316,808 | = | 0.0% |
| Capital | 10 | €316,808 | €316,808 | = | 0.0% |
| Issued capital | 100 | €316,808 | €316,808 | = | 0.0% |
| Reserves | 13 | €1,879,606 | €2,299,492 | +€419,887 | +22.3% |
| Non-distributable reserves | 130/1 | €31,681 | €31,681 | = | 0.0% |
| Legal reserve | 130 | €31,681 | €31,681 | = | 0.0% |
| Tax-exempt reserves | 132 | €196,251 | €196,251 | = | 0.0% |
| Distributable reserves | 133 | €1,651,674 | €2,071,561 | +€419,887 | +25.4% |
| Amounts payable | 17/49 | €882,897 | €1,234,325 | +€351,427 | +39.8% |
| Amounts payable after more than one year | 17 | €87,670 | €4,933 | -€82,737 | -94.4% |
| Financial debts | 170/4 | €83,587 | - | -€83,587 | |
| Other amounts payable | 178/9 | €4,083 | €4,933 | +€850 | +20.8% |
| Amounts payable within one year | 42/48 | €771,226 | €1,229,392 | +€458,166 | +59.4% |
| Current portion of amounts payable after more than one year | 42 | €75,917 | €83,587 | +€7,669 | +10.1% |
| Trade debts | 44 | €173,896 | €459,315 | +€285,419 | +164.1% |
| Suppliers | 440/4 | €173,896 | €459,315 | +€285,419 | +164.1% |
| Taxes, remuneration and social security | 45 | €88,220 | €84,808 | -€3,412 | -3.9% |
| Taxes | 450/3 | €62,379 | €48,445 | -€13,934 | -22.3% |
| Remuneration and social security | 454/9 | €25,841 | €36,363 | +€10,521 | +40.7% |
| Other amounts payable | 47/48 | €433,193 | €601,682 | +€168,490 | +38.9% |
| Accrued charges and deferred income | 492/3 | €24,002 | - | -€24,002 | |
| Remuneration, social security and pensions | 62 | €247,682 | €321,267 | +€73,584 | +29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,817 | €129,062 | +€39,245 | +43.7% |
| Other operating charges | 640/8 | €17,814 | €20,989 | +€3,176 | +17.8% |
| Gross operating margin | 9900 | €701,384 | €985,575 | +€284,192 | +40.5% |
| Operating profit (loss) | 9901 | €346,070 | €514,257 | +€168,187 | +48.6% |
| Financial income | 75/76B | €3,112 | €5,399 | +€2,286 | +73.5% |
| Recurring financial income | 75 | €3,112 | €5,399 | +€2,286 | +73.5% |
| Financial charges | 65/66B | €2,016 | €2,426 | +€410 | +20.3% |
| Recurring financial charges | 65 | €2,016 | €2,426 | +€410 | +20.3% |
| Profit (loss) for the period before taxes | 9903 | €347,167 | €517,230 | +€170,064 | +49.0% |
| Income taxes | 67/77 | €87,370 | €97,344 | +€9,973 | +11.4% |
| Profit (loss) for the period | 9904 | €259,796 | €419,887 | +€160,090 | +61.6% |
| Profit (loss) for the period to be appropriated | 9905 | €259,796 | €419,887 | +€160,090 | +61.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.