GAUTHIER JM: 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.
GAUTHIER JM
Largest movements
- Receivables within one year -€59,321
down €59,321 (-56.6%), from €104,865 to €45,543
of which Trade receivables: -€51,819
- Tangible fixed assets -€57,167
down €57,167 (-6.0%), from €960,060 to €902,893
of which Land and buildings: -€32,333
- Cash +€41,085
up €41,085 (+228%), from €18,054 to €59,139
mainly Depreciation (+€69,339) and Receivables within one year (+€59,321)
- Stocks and contracts -€12,578
down €12,578 (-29.7%), from €42,378 to €29,800
- Debts after one year -€73,569
down €73,569 (-11.9%), from €616,930 to €543,361
of which Financial debts: -€73,569
- Other debts -€14,818
down €14,818 (-67.7%), from €21,902 to €7,083
- Gross operating margin +€92,200
up €92,200 (+47.5%), from €194,301 to €286,501
- Staff costs +€43,963
up €43,963 (+32.6%), from €134,908 to €178,870
- Depreciation -€8,626
down €8,626 (-11.1%), from €77,966 to €69,339
- Financial charges +€5,892
up €5,892 (+36.3%), from €16,227 to €22,119
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 | €1,133,257 | €1,046,396 | -€86,861 | -7.7% |
| Fixed assets | 21/28 | €960,060 | €902,893 | -€57,167 | -6.0% |
| Tangible fixed assets | 22/27 | €960,060 | €902,893 | -€57,167 | -6.0% |
| Land and buildings | 22 | €882,607 | €850,275 | -€32,333 | -3.7% |
| Plant, machinery and equipment | 23 | €6,737 | €10,500 | +€3,763 | +55.9% |
| Furniture and vehicles | 24 | €56,544 | €34,946 | -€21,598 | -38.2% |
| Leasing and similar rights | 25 | €14,172 | €7,172 | -€7,000 | -49.4% |
| Current assets | 29/58 | €173,197 | €143,503 | -€29,694 | -17.1% |
| Stocks and contracts in progress | 3 | €42,378 | €29,800 | -€12,578 | -29.7% |
| Stocks | 30/36 | €42,378 | €29,800 | -€12,578 | -29.7% |
| Amounts receivable within one year | 40/41 | €104,865 | €45,543 | -€59,321 | -56.6% |
| Trade receivables | 40 | €97,209 | €45,390 | -€51,819 | -53.3% |
| Other amounts receivable | 41 | €7,655 | €153 | -€7,502 | -98.0% |
| Cash at bank and in hand | 54/58 | €18,054 | €59,139 | +€41,085 | +228% |
| Deferred charges and accrued income | 490/1 | €7,900 | €9,021 | +€1,121 | +14.2% |
| Total equity and liabilities | 10/49 | €1,133,257 | €1,046,396 | -€86,861 | -7.7% |
| Equity | 10/15 | €353,509 | €358,352 | +€4,843 | +1.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €190,000 | €190,000 | = | 0.0% |
| Distributable reserves | 133 | €190,000 | €190,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,049 | €147,892 | +€4,843 | +3.4% |
| Amounts payable | 17/49 | €779,748 | €688,043 | -€91,704 | -11.8% |
| Amounts payable after more than one year | 17 | €616,930 | €543,361 | -€73,569 | -11.9% |
| Financial debts | 170/4 | €614,120 | €540,551 | -€73,569 | -12.0% |
| Other amounts payable | 178/9 | €2,810 | €2,810 | = | 0.0% |
| Amounts payable within one year | 42/48 | €162,539 | €143,413 | -€19,127 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €87,961 | €84,639 | -€3,322 | -3.8% |
| Trade debts | 44 | €28,567 | €25,114 | -€3,452 | -12.1% |
| Suppliers | 440/4 | €28,567 | €25,114 | -€3,452 | -12.1% |
| Taxes, remuneration and social security | 45 | €24,110 | €26,576 | +€2,466 | +10.2% |
| Taxes | 450/3 | €2,491 | €3,249 | +€757 | +30.4% |
| Remuneration and social security | 454/9 | €21,618 | €23,327 | +€1,709 | +7.9% |
| Other amounts payable | 47/48 | €21,902 | €7,083 | -€14,818 | -67.7% |
| Accrued charges and deferred income | 492/3 | €279 | €1,270 | +€991 | +356% |
| Remuneration, social security and pensions | 62 | €134,908 | €178,870 | +€43,963 | +32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,966 | €69,339 | -€8,626 | -11.1% |
| Other operating charges | 640/8 | €9,044 | €11,192 | +€2,149 | +23.8% |
| Gross operating margin | 9900 | €194,301 | €286,501 | +€92,200 | +47.5% |
| Operating profit (loss) | 9901 | -€27,616 | €27,099 | +€54,715 | |
| Financial income | 75/76B | €932 | €597 | -€335 | -35.9% |
| Recurring financial income | 75 | €932 | €597 | -€335 | -35.9% |
| Financial charges | 65/66B | €16,227 | €22,119 | +€5,892 | +36.3% |
| Recurring financial charges | 65 | €16,227 | €22,119 | +€5,892 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | -€42,911 | €5,578 | +€48,489 | |
| Income taxes | 67/77 | €135 | €35 | -€100 | -74.1% |
| Profit (loss) for the period | 9904 | -€43,046 | €5,543 | +€48,589 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,046 | €5,543 | +€48,589 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.