BRICE GUILBERT: 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.
BRICE GUILBERT
Largest movements
- Cash -€185,591
down €185,591 (-80.9%), from €229,443 to €43,853
mainly Net result for the year (-€148,860) and Investment in fixed assets (net) (-€120,081)
- Tangible fixed assets +€60,085
up €60,085 (+3.8%), from €1.6m to €1.6m
of which Land and buildings: +€72,587
- Profit (loss) carried forward -€148,860
down €148,860 (-15.3%), from €974,484 to €825,624
- Other debts +€120,000
new in 2025: €120,000
- Current portion of long-term debt -€39,599
down €39,599 (-13.2%), from €300,000 to €260,401
- Tax, wage and social debts -€29,000
no longer reported in 2025 (was €29,000)
- Gross operating margin -€393,183
down €393,183, from €353,926 to -€39,258
- Depreciation -€131,047
down €131,047 (-68.8%), from €190,401 to €59,354
- Taxes -€27,104
down €27,104 (-93.9%), from €28,877 to €1,773
- Financial charges +€11,954
up €11,954 (+35.0%), from €34,118 to €46,073
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 | €2,034,487 | €1,918,425 | -€116,062 | -5.7% |
| Fixed assets | 21/28 | €1,577,023 | €1,637,750 | +€60,727 | +3.9% |
| Tangible fixed assets | 22/27 | €1,576,183 | €1,636,268 | +€60,085 | +3.8% |
| Land and buildings | 22 | €1,437,071 | €1,509,658 | +€72,587 | +5.1% |
| Plant, machinery and equipment | 23 | €7,161 | €8,804 | +€1,643 | +22.9% |
| Furniture and vehicles | 24 | €31,451 | €17,306 | -€14,145 | -45.0% |
| Other tangible fixed assets | 26 | €100,500 | €100,500 | = | 0.0% |
| Financial fixed assets | 28 | €840 | €1,482 | +€642 | +76.4% |
| Current assets | 29/58 | €457,464 | €280,675 | -€176,789 | -38.6% |
| Amounts receivable after more than one year | 29 | €100,717 | €100,717 | = | 0.0% |
| Other amounts receivable | 291 | €100,717 | €100,717 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €127,304 | €136,106 | +€8,802 | +6.9% |
| Trade receivables | 40 | €35,431 | €49,768 | +€14,337 | +40.5% |
| Other amounts receivable | 41 | €91,873 | €86,337 | -€5,536 | -6.0% |
| Cash at bank and in hand | 54/58 | €229,443 | €43,853 | -€185,591 | -80.9% |
| Total equity and liabilities | 10/49 | €2,034,487 | €1,918,425 | -€116,062 | -5.7% |
| Equity | 10/15 | €976,484 | €827,624 | -€148,860 | -15.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €974,484 | €825,624 | -€148,860 | -15.3% |
| Amounts payable | 17/49 | €1,058,003 | €1,090,801 | +€32,798 | +3.1% |
| Amounts payable after more than one year | 17 | €717,175 | €704,522 | -€12,652 | -1.8% |
| Financial debts | 170/4 | €717,175 | €704,522 | -€12,652 | -1.8% |
| Amounts payable within one year | 42/48 | €340,828 | €386,279 | +€45,451 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €300,000 | €260,401 | -€39,599 | -13.2% |
| Trade debts | 44 | €11,828 | €5,878 | -€5,950 | -50.3% |
| Suppliers | 440/4 | €11,828 | €5,878 | -€5,950 | -50.3% |
| Taxes, remuneration and social security | 45 | €29,000 | - | -€29,000 | |
| Taxes | 450/3 | €29,000 | - | -€29,000 | |
| Other amounts payable | 47/48 | - | €120,000 | +€120,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190,401 | €59,354 | -€131,047 | -68.8% |
| Other operating charges | 640/8 | €5,440 | €7,136 | +€1,696 | +31.2% |
| Gross operating margin | 9900 | €353,926 | -€39,258 | -€393,183 | |
| Operating profit (loss) | 9901 | €158,085 | -€105,748 | -€263,833 | |
| Financial income | 75/76B | €7,263 | €4,734 | -€2,529 | -34.8% |
| Recurring financial income | 75 | €7,263 | €4,734 | -€2,529 | -34.8% |
| Financial charges | 65/66B | €34,118 | €46,073 | +€11,954 | +35.0% |
| Recurring financial charges | 65 | €34,118 | €46,073 | +€11,954 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | €131,230 | -€147,087 | -€278,316 | |
| Income taxes | 67/77 | €28,877 | €1,773 | -€27,104 | -93.9% |
| Profit (loss) for the period | 9904 | €102,352 | -€148,860 | -€251,212 | |
| Profit (loss) for the period to be appropriated | 9905 | €102,352 | -€148,860 | -€251,212 |
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 10 October 2026 via checked.be.