ETS GUILAIN: 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.
ETS GUILAIN
Largest movements
- Receivables within one year +€44,966
up €44,966 (+78.2%), from €57,511 to €102,477
of which Trade receivables: +€37,815
- Cash +€23,751
up €23,751 (+240%), from €9,910 to €33,661
mainly Trade debts (+€142,318) and Accrued charges and deferred income (+€32,000)
- Financial fixed assets +€7,500
new in 2025: €7,500
- Tangible fixed assets +€6,443
up €6,443 (+3.5%), from €182,631 to €189,074
of which Plant, machinery and equipment: +€19,282
- Trade debts +€142,318
up €142,318 (+360%), from €39,488 to €181,806
- Debts after one year -€80,562
down €80,562 (-44.8%), from €179,813 to €99,251
- Accrued charges and deferred income +€32,000
new in 2025: €32,000
- Other debts -€7,883
down €7,883 (-36.2%), from €21,779 to €13,896
- Profit (loss) carried forward +€7,506
up €7,506 (+15.1%), from -€49,556 to -€42,049
- Staff costs +€89,286
up €89,286 (+154%), from €57,801 to €147,087
- Gross operating margin +€87,820
up €87,820 (+93.8%), from €93,653 to €181,473
- Depreciation -€7,909
down €7,909 (-32.1%), from €24,658 to €16,748
- Other operating charges +€3,276
up €3,276 (+825%), from €397 to €3,673
- Financial charges -€2,795
down €2,795 (-31.9%), from €8,766 to €5,970
of which Financial charges: -€3,095
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 | €250,173 | €332,830 | +€82,657 | +33.0% |
| Fixed assets | 21/28 | €182,631 | €196,574 | +€13,943 | +7.6% |
| Tangible fixed assets | 22/27 | €182,631 | €189,074 | +€6,443 | +3.5% |
| Land and buildings | 22 | €88,858 | €85,220 | -€3,638 | -4.1% |
| Plant, machinery and equipment | 23 | €1,395 | €20,677 | +€19,282 | +1,382% |
| Furniture and vehicles | 24 | €52,194 | €52,082 | -€111 | -0.2% |
| Leasing and similar rights | 25 | €40,185 | €31,095 | -€9,090 | -22.6% |
| Financial fixed assets | 28 | - | €7,500 | +€7,500 | |
| Current assets | 29/58 | €67,542 | €136,257 | +€68,715 | +102% |
| Amounts receivable within one year | 40/41 | €57,511 | €102,477 | +€44,966 | +78.2% |
| Trade receivables | 40 | €44,467 | €82,282 | +€37,815 | +85.0% |
| Other amounts receivable | 41 | €13,044 | €20,194 | +€7,151 | +54.8% |
| Cash at bank and in hand | 54/58 | €9,910 | €33,661 | +€23,751 | +240% |
| Deferred charges and accrued income | 490/1 | €121 | €119 | -€2 | -2.0% |
| Total equity and liabilities | 10/49 | €250,173 | €332,830 | +€82,657 | +33.0% |
| Equity | 10/15 | -€30,956 | -€23,449 | +€7,506 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,556 | -€42,049 | +€7,506 | +15.1% |
| Amounts payable | 17/49 | €281,129 | €356,280 | +€75,151 | +26.7% |
| Amounts payable after more than one year | 17 | €179,813 | €99,251 | -€80,562 | -44.8% |
| Financial debts | 170/4 | €179,813 | €99,251 | -€80,562 | -44.8% |
| Amounts payable within one year | 42/48 | €101,316 | €225,029 | +€123,713 | +122% |
| Current portion of amounts payable after more than one year | 42 | €31,035 | €25,200 | -€5,835 | -18.8% |
| Trade debts | 44 | €39,488 | €181,806 | +€142,318 | +360% |
| Suppliers | 440/4 | €39,488 | €181,806 | +€142,318 | +360% |
| Taxes, remuneration and social security | 45 | €9,014 | €4,127 | -€4,887 | -54.2% |
| Taxes | 450/3 | €3,292 | €459 | -€2,834 | -86.1% |
| Remuneration and social security | 454/9 | €5,722 | €3,668 | -€2,054 | -35.9% |
| Other amounts payable | 47/48 | €21,779 | €13,896 | -€7,883 | -36.2% |
| Accrued charges and deferred income | 492/3 | - | €32,000 | +€32,000 | |
| Remuneration, social security and pensions | 62 | €57,801 | €147,087 | +€89,286 | +154% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,658 | €16,748 | -€7,909 | -32.1% |
| Other operating charges | 640/8 | €397 | €3,673 | +€3,276 | +825% |
| Non-recurring operating charges | 66A | €6,727 | - | -€6,727 | |
| Gross operating margin | 9900 | €93,653 | €181,473 | +€87,820 | +93.8% |
| Operating profit (loss) | 9901 | €4,070 | €13,964 | +€9,894 | +243% |
| Financial income | 75/76B | €12 | €115 | +€103 | +831% |
| Recurring financial income | 75 | €12 | €115 | +€103 | +831% |
| Financial charges | 65/66B | €8,766 | €5,970 | -€2,795 | -31.9% |
| Recurring financial charges | 65 | €8,766 | €5,670 | -€3,095 | -35.3% |
| Non-recurring financial charges | 66B | - | €300 | +€300 | |
| Profit (loss) for the period before taxes | 9903 | -€4,683 | €8,109 | +€12,792 | |
| Income taxes | 67/77 | €1,927 | €603 | -€1,325 | -68.7% |
| Profit (loss) for the period | 9904 | -€6,610 | €7,506 | +€14,117 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,610 | €7,506 | +€14,117 |
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 17 October 2026 via checked.be.