WHITE GOBLIN INT.: 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.
WHITE GOBLIN INT.
Largest movements
- Receivables within one year -€108,622
down €108,622 (-19.8%), from €549,174 to €440,552
of which Trade receivables: -€135,738
- Cash +€53,434
up €53,434 (+4.2%), from €1.3m to €1.3m
mainly Receivables within one year (+€108,622) and Net result for the year (+€41,910)
- Trade debts -€134,838
down €134,838 (-49.8%), from €270,769 to €135,930
- Reserves +€41,910
up €41,910 (+7.3%), from €574,195 to €616,105
of which Distributable reserves: +€41,910
- Other debts +€19,640
up €19,640 (+4.5%), from €433,881 to €453,521
- Gross operating margin -€176,854
down €176,854 (-40.6%), from €435,810 to €258,956
- Other operating charges -€61,688
down €61,688 (-89.2%), from €69,159 to €7,471
- Write-downs +€61,569
up €61,569, from -€61,569 to €0
- Taxes -€58,767
down €58,767 (-73.0%), from €80,521 to €21,755
- Staff costs +€11,529
up €11,529 (+9.2%), from €124,937 to €136,466
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 | €1,901,055 | €1,825,899 | -€75,156 | -4.0% |
| Fixed assets | 21/28 | €42,827 | €25,392 | -€17,435 | -40.7% |
| Tangible fixed assets | 22/27 | €42,827 | €25,392 | -€17,435 | -40.7% |
| Plant, machinery and equipment | 23 | €17,450 | €14,757 | -€2,693 | -15.4% |
| Furniture and vehicles | 24 | €25,377 | €10,635 | -€14,742 | -58.1% |
| Current assets | 29/58 | €1,858,228 | €1,800,507 | -€57,721 | -3.1% |
| Stocks and contracts in progress | 3 | €28,456 | €17,261 | -€11,195 | -39.3% |
| Stocks | 30/36 | €28,456 | €17,261 | -€11,195 | -39.3% |
| Amounts receivable within one year | 40/41 | €549,174 | €440,552 | -€108,622 | -19.8% |
| Trade receivables | 40 | €457,391 | €321,653 | -€135,738 | -29.7% |
| Other amounts receivable | 41 | €91,783 | €118,900 | +€27,117 | +29.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,278,662 | €1,332,096 | +€53,434 | +4.2% |
| Deferred charges and accrued income | 490/1 | €1,936 | €10,598 | +€8,662 | +447% |
| Total equity and liabilities | 10/49 | €1,901,055 | €1,825,899 | -€75,156 | -4.0% |
| Equity | 10/15 | €1,166,695 | €1,208,605 | +€41,910 | +3.6% |
| Contributions | 10/11 | €278,500 | €278,500 | = | 0.0% |
| Capital | 10 | €278,500 | €278,500 | = | 0.0% |
| Issued capital | 100 | €278,500 | €278,500 | = | 0.0% |
| Reserves | 13 | €574,195 | €616,105 | +€41,910 | +7.3% |
| Non-distributable reserves | 130/1 | €27,850 | €27,850 | = | 0.0% |
| Legal reserve | 130 | €27,850 | €27,850 | = | 0.0% |
| Distributable reserves | 133 | €546,345 | €588,255 | +€41,910 | +7.7% |
| Profit (loss) carried forward | 14 | €314,000 | €314,000 | = | 0.0% |
| Amounts payable | 17/49 | €734,359 | €617,294 | -€117,066 | -15.9% |
| Amounts payable within one year | 42/48 | €734,359 | €617,294 | -€117,066 | -15.9% |
| Trade debts | 44 | €270,769 | €135,930 | -€134,838 | -49.8% |
| Suppliers | 440/4 | €270,769 | €135,930 | -€134,838 | -49.8% |
| Advances received on contracts in progress | 46 | €5,578 | €70 | -€5,508 | -98.7% |
| Taxes, remuneration and social security | 45 | €24,132 | €27,773 | +€3,640 | +15.1% |
| Taxes | 450/3 | €3,432 | €3,351 | -€80 | -2.3% |
| Remuneration and social security | 454/9 | €20,701 | €24,422 | +€3,721 | +18.0% |
| Other amounts payable | 47/48 | €433,881 | €453,521 | +€19,640 | +4.5% |
| Remuneration, social security and pensions | 62 | €124,937 | €136,466 | +€11,529 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,352 | €19,713 | -€639 | -3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€61,569 | €0 | +€61,569 | |
| Other operating charges | 640/8 | €69,159 | €7,471 | -€61,688 | -89.2% |
| Gross operating margin | 9900 | €435,810 | €258,956 | -€176,854 | -40.6% |
| Operating profit (loss) | 9901 | €282,931 | €95,306 | -€187,625 | -66.3% |
| Financial income | 75/76B | €7,154 | €316 | -€6,838 | -95.6% |
| Recurring financial income | 75 | €7,154 | €316 | -€6,838 | -95.6% |
| Financial charges | 65/66B | €33,681 | €31,958 | -€1,723 | -5.1% |
| Recurring financial charges | 65 | €33,681 | €31,958 | -€1,723 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €256,404 | €63,664 | -€192,739 | -75.2% |
| Income taxes | 67/77 | €80,521 | €21,755 | -€58,767 | -73.0% |
| Profit (loss) for the period | 9904 | €175,882 | €41,910 | -€133,972 | -76.2% |
| Profit (loss) for the period to be appropriated | 9905 | €175,882 | €41,910 | -€133,972 | -76.2% |
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 1 November 2026 via checked.be.