BENOIT GUISSARD: 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.
BENOIT GUISSARD
Largest movements
- Tangible fixed assets -€149,280
down €149,280 (-21.4%), from €696,639 to €547,359
of which Leasing and similar rights: -€99,959
- Receivables within one year +€30,237
up €30,237 (+5.2%), from €584,251 to €614,487
of which Other amounts receivable: +€16,020
- Stocks and contracts +€18,000
new in 2025: €18,000
- Debts after one year -€120,189
down €120,189 (-23.9%), from €502,651 to €382,461
- Tax, wage and social debts +€16,676
up €16,676 (+41.4%), from €40,318 to €56,994
of which Taxes: +€9,721
- Depreciation -€36,420
down €36,420 (-19.9%), from €182,891 to €146,471
- Staff costs +€20,852
up €20,852 (+24.3%), from €85,891 to €106,743
- Financial charges +€12,316
up €12,316 (+28.2%), from €43,639 to €55,955
- Other operating charges +€7,065
up €7,065 (+98.3%), from €7,186 to €14,251
- Taxes +€5,952
up €5,952 (+1239.9%), from €480 to €6,432
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.
Cash bridge derived
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 | €1,292,140 | €1,200,447 | -€91,693 | -7.1% |
| Fixed assets | 21/28 | €696,639 | €547,359 | -€149,280 | -21.4% |
| Tangible fixed assets | 22/27 | €696,639 | €547,359 | -€149,280 | -21.4% |
| Land and buildings | 22 | €220,000 | €220,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €140,045 | €112,005 | -€28,040 | -20.0% |
| Furniture and vehicles | 24 | €32,402 | €11,122 | -€21,280 | -65.7% |
| Leasing and similar rights | 25 | €304,192 | €204,233 | -€99,959 | -32.9% |
| Current assets | 29/58 | €595,501 | €653,088 | +€57,587 | +9.7% |
| Stocks and contracts in progress | 3 | - | €18,000 | +€18,000 | |
| Stocks | 30/36 | - | €18,000 | +€18,000 | |
| Amounts receivable within one year | 40/41 | €584,251 | €614,487 | +€30,237 | +5.2% |
| Trade receivables | 40 | €208,116 | €222,333 | +€14,217 | +6.8% |
| Other amounts receivable | 41 | €376,134 | €392,154 | +€16,020 | +4.3% |
| Cash at bank and in hand | 54/58 | €9,891 | €19,249 | +€9,358 | +94.6% |
| Deferred charges and accrued income | 490/1 | €1,359 | €1,351 | -€7 | -0.5% |
| Total equity and liabilities | 10/49 | €1,292,140 | €1,200,447 | -€91,693 | -7.1% |
| Equity | 10/15 | €401,580 | €407,531 | +€5,951 | +1.5% |
| Contributions | 10/11 | €92,712 | €92,712 | = | 0.0% |
| Revaluation surpluses | 12 | €791 | €791 | = | 0.0% |
| Reserves | 13 | €8,469 | €8,469 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,469 | €8,469 | = | 0.0% |
| Profit (loss) carried forward | 14 | €299,607 | €305,558 | +€5,951 | +2.0% |
| Amounts payable | 17/49 | €890,560 | €792,916 | -€97,644 | -11.0% |
| Amounts payable after more than one year | 17 | €502,651 | €382,461 | -€120,189 | -23.9% |
| Financial debts | 170/4 | €502,651 | €382,461 | -€120,189 | -23.9% |
| Amounts payable within one year | 42/48 | €385,370 | €408,055 | +€22,685 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | €124,728 | €115,099 | -€9,629 | -7.7% |
| Trade debts | 44 | €198,698 | €210,370 | +€11,672 | +5.9% |
| Suppliers | 440/4 | €198,698 | €210,370 | +€11,672 | +5.9% |
| Taxes, remuneration and social security | 45 | €40,318 | €56,994 | +€16,676 | +41.4% |
| Taxes | 450/3 | €20,277 | €29,998 | +€9,721 | +47.9% |
| Remuneration and social security | 454/9 | €20,041 | €26,996 | +€6,955 | +34.7% |
| Other amounts payable | 47/48 | €21,626 | €25,592 | +€3,966 | +18.3% |
| Accrued charges and deferred income | 492/3 | €2,539 | €2,400 | -€139 | -5.5% |
| Remuneration, social security and pensions | 62 | €85,891 | €106,743 | +€20,852 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,891 | €146,471 | -€36,420 | -19.9% |
| Other operating charges | 640/8 | €7,186 | €14,251 | +€7,065 | +98.3% |
| Gross operating margin | 9900 | €327,797 | €323,508 | -€4,290 | -1.3% |
| Operating profit (loss) | 9901 | €51,830 | €56,043 | +€4,213 | +8.1% |
| Financial income | 75/76B | €10,283 | €12,295 | +€2,012 | +19.6% |
| Recurring financial income | 75 | €10,283 | €12,295 | +€2,012 | +19.6% |
| Financial charges | 65/66B | €43,639 | €55,955 | +€12,316 | +28.2% |
| Recurring financial charges | 65 | €43,639 | €55,955 | +€12,316 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €18,474 | €12,383 | -€6,091 | -33.0% |
| Income taxes | 67/77 | €480 | €6,432 | +€5,952 | +1239.9% |
| Profit (loss) for the period | 9904 | €17,994 | €5,951 | -€12,044 | -66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,994 | €5,951 | -€12,044 | -66.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.