ERIC DE GUCHTENEERE: what changed
ERIC DE GUCHTENEERE
Largest movements
- Current investments -€535,041
down €535,041 (-41.9%), from €1.3m to €743,316
- Receivables within one year +€77,969
up €77,969 (+199%), from €39,101 to €117,070
of which Trade receivables: +€59,287
- Cash -€49,943
down €49,943 (-56.8%), from €87,947 to €38,004
mainly Other debts (-€648,025) and Contributions, distributions and other (-€159,000)
- Tangible fixed assets -€15,348
down €15,348 (-19.3%), from €79,657 to €64,308
of which Furniture and vehicles: -€15,373
- Other debts -€648,025
down €648,025 (-80.3%), from €807,025 to €159,000
- Reserves +€119,000
up €119,000 (+20.2%), from €589,960 to €708,960
of which Distributable reserves: +€119,000
- Financial income +€134,845
up €134,845 (+244%), from €55,182 to €190,027
- Gross operating margin +€58,314
up €58,314 (+38.7%), from €150,633 to €208,947
- Taxes +€39,979
up €39,979 (+67.2%), from €59,482 to €99,461
- Depreciation +€10,491
up €10,491 (+116%), from €9,014 to €19,505
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,492,150 | €969,827 | -€522,322 | -35.0% |
| Fixed assets | 21/28 | €79,682 | €64,334 | -€15,348 | -19.3% |
| Tangible fixed assets | 22/27 | €79,657 | €64,308 | -€15,348 | -19.3% |
| Plant, machinery and equipment | 23 | €13,079 | €13,104 | +€25 | +0.2% |
| Furniture and vehicles | 24 | €66,578 | €51,205 | -€15,373 | -23.1% |
| Financial fixed assets | 28 | €26 | €26 | = | 0.0% |
| Current assets | 29/58 | €1,412,468 | €905,494 | -€506,974 | -35.9% |
| Amounts receivable within one year | 40/41 | €39,101 | €117,070 | +€77,969 | +199% |
| Trade receivables | 40 | €39,101 | €98,388 | +€59,287 | +152% |
| Other amounts receivable | 41 | - | €18,682 | +€18,682 | |
| Current investments | 50/53 | €1,278,357 | €743,316 | -€535,041 | -41.9% |
| Cash at bank and in hand | 54/58 | €87,947 | €38,004 | -€49,943 | -56.8% |
| Deferred charges and accrued income | 490/1 | €7,062 | €7,103 | +€41 | +0.6% |
| Total equity and liabilities | 10/49 | €1,492,150 | €969,827 | -€522,322 | -35.0% |
| Equity | 10/15 | €662,567 | €782,019 | +€119,453 | +18.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €589,960 | €708,960 | +€119,000 | +20.2% |
| Non-distributable reserves | 130/1 | €32,460 | €32,460 | = | 0.0% |
| Reserves not available under the articles | 1311 | €32,460 | €32,460 | = | 0.0% |
| Distributable reserves | 133 | €557,500 | €676,500 | +€119,000 | +21.3% |
| Profit (loss) carried forward | 14 | €60,207 | €60,659 | +€453 | +0.8% |
| Amounts payable | 17/49 | €829,583 | €187,808 | -€641,775 | -77.4% |
| Amounts payable within one year | 42/48 | €829,583 | €187,808 | -€641,775 | -77.4% |
| Trade debts | 44 | €2,010 | €213 | -€1,797 | -89.4% |
| Suppliers | 440/4 | €2,010 | €213 | -€1,797 | -89.4% |
| Taxes, remuneration and social security | 45 | €20,549 | €28,595 | +€8,047 | +39.2% |
| Taxes | 450/3 | €20,549 | €28,595 | +€8,047 | +39.2% |
| Other amounts payable | 47/48 | €807,025 | €159,000 | -€648,025 | -80.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,014 | €19,505 | +€10,491 | +116% |
| Other operating charges | 640/8 | €46 | - | -€46 | |
| Gross operating margin | 9900 | €150,633 | €208,947 | +€58,314 | +38.7% |
| Operating profit (loss) | 9901 | €141,573 | €189,442 | +€47,869 | +33.8% |
| Financial income | 75/76B | €55,182 | €190,027 | +€134,845 | +244% |
| Recurring financial income | 75 | €55,182 | €190,027 | +€134,845 | +244% |
| Financial charges | 65/66B | €895 | €1,555 | +€660 | +73.7% |
| Recurring financial charges | 65 | €895 | €1,555 | +€660 | +73.7% |
| Profit (loss) for the period before taxes | 9903 | €195,859 | €377,914 | +€182,055 | +93.0% |
| Income taxes | 67/77 | €59,482 | €99,461 | +€39,979 | +67.2% |
| Profit (loss) for the period | 9904 | €136,377 | €278,453 | +€142,075 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €136,377 | €278,453 | +€142,075 | +104% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.