FREDERIC GUYOT: 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.
FREDERIC GUYOT
Largest movements
- Current investments +€85,000
up €85,000 (+255.3%), from €33,299 to €118,299
- Cash -€67,487
down €67,487 (-40.9%), from €165,044 to €97,557
mainly Current investments (-€85,000) and Investment in fixed assets (net) (-€28,435)
- Receivables within one year +€9,152
up €9,152 (+154.4%), from €5,927 to €15,080
- Tangible fixed assets +€7,582
up €7,582 (+11.5%), from €66,212 to €73,794
of which Plant, machinery and equipment: +€19,749
- Deferred charges and accrued income +€6,236
up €6,236 (+180.3%), from €3,458 to €9,694
- Reserves +€44,268
up €44,268 (+30.1%), from €146,970 to €191,238
of which Distributable reserves: +€44,268
- Debts after one year -€14,109
down €14,109 (-30.2%), from €46,698 to €32,590
of which Financial debts: -€10,049
- Trade debts +€6,989
up €6,989 (+4072.6%), from €172 to €7,161
- Gross operating margin +€19,821
up €19,821 (+32.8%), from €60,400 to €80,220
- Financial income -€7,613
down €7,613 (-68.6%), from €11,105 to €3,492
of which Non-recurring financial income: -€9,500
- Taxes +€3,490
up €3,490 (+26.6%), from €13,143 to €16,633
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 | €273,941 | €314,424 | +€40,483 | +14.8% |
| Fixed assets | 21/28 | €66,212 | €73,794 | +€7,582 | +11.5% |
| Tangible fixed assets | 22/27 | €66,212 | €73,794 | +€7,582 | +11.5% |
| Plant, machinery and equipment | 23 | €477 | €20,226 | +€19,749 | +4139.3% |
| Furniture and vehicles | 24 | €41,852 | €30,418 | -€11,434 | -27.3% |
| Other tangible fixed assets | 26 | €23,884 | €23,150 | -€733 | -3.1% |
| Current assets | 29/58 | €207,729 | €240,630 | +€32,901 | +15.8% |
| Amounts receivable within one year | 40/41 | €5,927 | €15,080 | +€9,152 | +154.4% |
| Trade receivables | 40 | €5,927 | €15,080 | +€9,152 | +154.4% |
| Current investments | 50/53 | €33,299 | €118,299 | +€85,000 | +255.3% |
| Cash at bank and in hand | 54/58 | €165,044 | €97,557 | -€67,487 | -40.9% |
| Deferred charges and accrued income | 490/1 | €3,458 | €9,694 | +€6,236 | +180.3% |
| Total equity and liabilities | 10/49 | €273,941 | €314,424 | +€40,483 | +14.8% |
| Equity | 10/15 | €205,284 | €249,552 | +€44,268 | +21.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €146,970 | €191,238 | +€44,268 | +30.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €144,970 | €189,238 | +€44,268 | +30.5% |
| Profit (loss) carried forward | 14 | €38,314 | €38,314 | = | 0.0% |
| Amounts payable | 17/49 | €68,657 | €64,872 | -€3,785 | -5.5% |
| Amounts payable after more than one year | 17 | €46,698 | €32,590 | -€14,109 | -30.2% |
| Financial debts | 170/4 | €29,507 | €19,458 | -€10,049 | -34.1% |
| Other amounts payable | 178/9 | €17,191 | €13,132 | -€4,059 | -23.6% |
| Amounts payable within one year | 42/48 | €16,254 | €25,910 | +€9,657 | +59.4% |
| Current portion of amounts payable after more than one year | 42 | €9,671 | €10,049 | +€379 | +3.9% |
| Trade debts | 44 | €172 | €7,161 | +€6,989 | +4072.6% |
| Suppliers | 440/4 | €172 | €7,161 | +€6,989 | +4072.6% |
| Taxes, remuneration and social security | 45 | €6,411 | €8,700 | +€2,289 | +35.7% |
| Taxes | 450/3 | €6,411 | €8,700 | +€2,289 | +35.7% |
| Accrued charges and deferred income | 492/3 | €5,705 | €6,372 | +€667 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,278 | €20,854 | +€576 | +2.8% |
| Other operating charges | 640/8 | €574 | €485 | -€89 | -15.4% |
| Gross operating margin | 9900 | €60,400 | €80,220 | +€19,821 | +32.8% |
| Operating profit (loss) | 9901 | €39,548 | €58,881 | +€19,334 | +48.9% |
| Financial income | 75/76B | €11,105 | €3,492 | -€7,613 | -68.6% |
| Recurring financial income | 75 | €1,605 | €3,492 | +€1,887 | +117.6% |
| Non-recurring financial income | 76B | €9,500 | - | -€9,500 | |
| Financial charges | 65/66B | €1,840 | €1,472 | -€368 | -20.0% |
| Recurring financial charges | 65 | €1,840 | €1,472 | -€368 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €48,813 | €60,901 | +€12,088 | +24.8% |
| Income taxes | 67/77 | €13,143 | €16,633 | +€3,490 | +26.6% |
| Profit (loss) for the period | 9904 | €35,670 | €44,268 | +€8,598 | +24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €35,670 | €44,268 | +€8,598 | +24.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.