YVAN GOETSCHALCKX: 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.
YVAN GOETSCHALCKX
Largest movements
- Cash -€26,769
down €26,769 (-65.8%), from €40,702 to €13,933
mainly Debts after one year (-€32,959) and Investment in fixed assets (net) (-€23,259)
- Receivables within one year -€13,702
down €13,702 (-85.1%), from €16,106 to €2,404
of which Other amounts receivable: -€13,038
- Debts after one year -€32,959
down €32,959 (-26.7%), from €123,397 to €90,438
- Other debts -€16,542
down €16,542 (-12.5%), from €132,800 to €116,259
- Reserves +€7,855
up €7,855 (+2.6%), from €304,423 to €312,278
of which Distributable reserves: +€7,855
- Gross operating margin -€4,113
down €4,113 (-8.1%), from €50,992 to €46,879
- Financial charges -€3,817
down €3,817 (-24.2%), from €15,804 to €11,987
- Other operating charges +€1,619
up €1,619 (+184%), from €881 to €2,500
- Depreciation +€1,020
up €1,020 (+5.1%), from €20,120 to €21,140
- Taxes -€873
down €873 (-19.1%), from €4,559 to €3,686
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 | €625,930 | €587,616 | -€38,314 | -6.1% |
| Fixed assets | 21/28 | €567,420 | €569,539 | +€2,119 | +0.4% |
| Tangible fixed assets | 22/27 | €563,420 | €565,539 | +€2,119 | +0.4% |
| Land and buildings | 22 | €559,438 | €540,629 | -€18,809 | -3.4% |
| Plant, machinery and equipment | 23 | €1,142 | €980 | -€161 | -14.1% |
| Furniture and vehicles | 24 | €2,840 | €23,930 | +€21,089 | +742% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €58,510 | €18,077 | -€40,433 | -69.1% |
| Amounts receivable within one year | 40/41 | €16,106 | €2,404 | -€13,702 | -85.1% |
| Trade receivables | 40 | €665 | €0 | -€665 | -100% |
| Other amounts receivable | 41 | €15,441 | €2,404 | -€13,038 | -84.4% |
| Cash at bank and in hand | 54/58 | €40,702 | €13,933 | -€26,769 | -65.8% |
| Deferred charges and accrued income | 490/1 | €1,702 | €1,741 | +€39 | +2.3% |
| Total equity and liabilities | 10/49 | €625,930 | €587,616 | -€38,314 | -6.1% |
| Equity | 10/15 | €329,423 | €337,278 | +€7,855 | +2.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €304,423 | €312,278 | +€7,855 | +2.6% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €301,923 | €309,778 | +€7,855 | +2.6% |
| Amounts payable | 17/49 | €296,507 | €250,338 | -€46,168 | -15.6% |
| Amounts payable after more than one year | 17 | €123,397 | €90,438 | -€32,959 | -26.7% |
| Financial debts | 170/4 | €123,397 | €90,438 | -€32,959 | -26.7% |
| Amounts payable within one year | 42/48 | €173,109 | €159,900 | -€13,209 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €32,228 | €33,959 | +€1,731 | +5.4% |
| Trade debts | 44 | €387 | €801 | +€414 | +107% |
| Suppliers | 440/4 | €387 | €801 | +€414 | +107% |
| Taxes, remuneration and social security | 45 | €7,694 | €8,881 | +€1,187 | +15.4% |
| Taxes | 450/3 | €7,694 | €8,881 | +€1,187 | +15.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €132,800 | €116,259 | -€16,542 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,120 | €21,140 | +€1,020 | +5.1% |
| Other operating charges | 640/8 | €881 | €2,500 | +€1,619 | +184% |
| Gross operating margin | 9900 | €50,992 | €46,879 | -€4,113 | -8.1% |
| Operating profit (loss) | 9901 | €29,991 | €23,239 | -€6,752 | -22.5% |
| Financial income | 75/76B | €29 | €289 | +€260 | +913% |
| Recurring financial income | 75 | €29 | €289 | +€260 | +913% |
| Financial charges | 65/66B | €15,804 | €11,987 | -€3,817 | -24.2% |
| Recurring financial charges | 65 | €15,804 | €11,987 | -€3,817 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €14,216 | €11,541 | -€2,675 | -18.8% |
| Income taxes | 67/77 | €4,559 | €3,686 | -€873 | -19.1% |
| Profit (loss) for the period | 9904 | €9,657 | €7,855 | -€1,802 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,657 | €7,855 | -€1,802 | -18.7% |
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 23 October 2026 via checked.be.