François GUILLET: 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.
François GUILLET
Largest movements
- Current investments -€290,000
no longer reported in 2025 (was €290,000)
- Cash +€244,687
up €244,687 (+581%), from €42,105 to €286,792
mainly Current investments (+€290,000) and Net result for the year (+€206,101)
- Other debts -€42,185
down €42,185 (-13.0%), from €324,623 to €282,437
- Gross operating margin +€141,857
up €141,857 (+119%), from €119,571 to €261,428
- Taxes +€37,419
up €37,419 (+149%), from €25,153 to €62,572
- Financial income +€7,934
up €7,934 (+23,855%), from €33 to €7,967
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 | €345,366 | €296,899 | -€48,466 | -14.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €400 | - | -€400 | |
| Tangible fixed assets | 22/27 | €400 | - | -€400 | |
| Furniture and vehicles | 24 | €400 | - | -€400 | |
| Current assets | 29/58 | €344,965 | €296,899 | -€48,066 | -13.9% |
| Amounts receivable within one year | 40/41 | €12,582 | €9,727 | -€2,855 | -22.7% |
| Trade receivables | 40 | €2,555 | - | -€2,555 | |
| Other amounts receivable | 41 | €10,027 | €9,727 | -€300 | -3.0% |
| Current investments | 50/53 | €290,000 | - | -€290,000 | |
| Cash at bank and in hand | 54/58 | €42,105 | €286,792 | +€244,687 | +581% |
| Deferred charges and accrued income | 490/1 | €279 | €381 | +€102 | +36.6% |
| Total equity and liabilities | 10/49 | €345,366 | €296,899 | -€48,466 | -14.0% |
| Equity | 10/15 | €2,100 | €2,100 | = | 0.0% |
| Contributions | 10/11 | €2,100 | €2,100 | = | 0.0% |
| Amounts payable | 17/49 | €343,266 | €294,799 | -€48,466 | -14.1% |
| Amounts payable within one year | 42/48 | €343,266 | €294,799 | -€48,466 | -14.1% |
| Trade debts | 44 | €774 | €955 | +€181 | +23.4% |
| Suppliers | 440/4 | €774 | €955 | +€181 | +23.4% |
| Advances received on contracts in progress | 46 | €3,091 | - | -€3,091 | |
| Taxes, remuneration and social security | 45 | €14,778 | €11,407 | -€3,371 | -22.8% |
| Taxes | 450/3 | €14,778 | €11,407 | -€3,371 | -22.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €324,623 | €282,437 | -€42,185 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,081 | €400 | -€681 | -63.0% |
| Other operating charges | 640/8 | €258 | €238 | -€21 | -7.9% |
| Gross operating margin | 9900 | €119,571 | €261,428 | +€141,857 | +119% |
| Operating profit (loss) | 9901 | €118,231 | €260,790 | +€142,558 | +121% |
| Financial income | 75/76B | €33 | €7,967 | +€7,934 | +23,855% |
| Recurring financial income | 75 | €33 | €7,967 | +€7,934 | +23,855% |
| Financial charges | 65/66B | €102 | €84 | -€18 | -18.0% |
| Recurring financial charges | 65 | €102 | €84 | -€18 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €118,162 | €268,673 | +€150,511 | +127% |
| Income taxes | 67/77 | €25,153 | €62,572 | +€37,419 | +149% |
| Profit (loss) for the period | 9904 | €93,009 | €206,101 | +€113,092 | +122% |
| Profit (loss) for the period to be appropriated | 9905 | €93,009 | €206,101 | +€113,092 | +122% |
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 1 November 2026 via checked.be.