GELUWI: 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.
GELUWI
Largest movements
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Financial fixed assets +€170,000
new in 2025: €170,000
- Deferred charges and accrued income -€34,367
no longer reported in 2025 (was €34,367)
- Cash +€22,261
up €22,261 (+205%), from €10,845 to €33,106
mainly Current investments (+€250,000) and Deferred charges and accrued income (+€34,367)
- Tax, wage and social debts -€58,740
no longer reported in 2025 (was €58,740)
- Trade debts -€21,132
no longer reported in 2025 (was €21,132)
- Other debts -€10,219
down €10,219 (-79.1%), from €12,914 to €2,695
- Profit (loss) carried forward -€5,052
new in 2025: -€5,052
- Gross operating margin -€148,895
down €148,895, from €141,859 to -€7,036
- Provisions -€84,456
no longer reported in 2025 (was €84,456)
- Taxes -€57,649
down €57,649 (-98.1%), from €58,740 to €1,090
- Other operating charges -€16,874
down €16,874 (-97.1%), from €17,381 to €507
- Financial income +€3,635
new in 2025: €3,635
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 | €411,611 | €316,469 | -€95,142 | -23.1% |
| Fixed assets | 21/28 | - | €170,000 | +€170,000 | |
| Financial fixed assets | 28 | - | €170,000 | +€170,000 | |
| Current assets | 29/58 | €411,611 | €146,469 | -€265,142 | -64.4% |
| Amounts receivable within one year | 40/41 | €116,399 | €113,363 | -€3,036 | -2.6% |
| Trade receivables | 40 | €84,456 | €81,421 | -€3,036 | -3.6% |
| Other amounts receivable | 41 | €31,943 | €31,943 | = | 0.0% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €10,845 | €33,106 | +€22,261 | +205% |
| Deferred charges and accrued income | 490/1 | €34,367 | - | -€34,367 | |
| Total equity and liabilities | 10/49 | €411,611 | €316,469 | -€95,142 | -23.1% |
| Equity | 10/15 | €234,370 | €229,318 | -€5,052 | -2.2% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Capital | 10 | €85,000 | €85,000 | = | 0.0% |
| Issued capital | 100 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €149,370 | €149,370 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €149,370 | €8,500 | -€140,870 | -94.3% |
| Legal reserve | 130 | €8,500 | €8,500 | = | 0.0% |
| Other | 1319 | €140,870 | - | -€140,870 | |
| Distributable reserves | 133 | - | €140,870 | +€140,870 | |
| Profit (loss) carried forward | 14 | - | -€5,052 | -€5,052 | |
| Provisions and deferred taxes | 16 | €84,456 | €84,456 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €84,456 | €84,456 | = | 0.0% |
| Other liabilities and charges | 164/5 | €84,456 | €84,456 | = | 0.0% |
| Amounts payable | 17/49 | €92,785 | €2,695 | -€90,090 | -97.1% |
| Amounts payable within one year | 42/48 | €92,785 | €2,695 | -€90,090 | -97.1% |
| Trade debts | 44 | €21,132 | - | -€21,132 | |
| Suppliers | 440/4 | €21,132 | - | -€21,132 | |
| Taxes, remuneration and social security | 45 | €58,740 | - | -€58,740 | |
| Taxes | 450/3 | €58,740 | - | -€58,740 | |
| Other amounts payable | 47/48 | €12,914 | €2,695 | -€10,219 | -79.1% |
| Non-recurring operating income | 76A | €224,153 | - | -€224,153 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €84,456 | - | -€84,456 | |
| Other operating charges | 640/8 | €17,381 | €507 | -€16,874 | -97.1% |
| Gross operating margin | 9900 | €141,859 | -€7,036 | -€148,895 | |
| Operating profit (loss) | 9901 | €40,021 | -€7,544 | -€47,565 | |
| Financial income | 75/76B | - | €3,635 | +€3,635 | |
| Recurring financial income | 75 | - | €3,635 | +€3,635 | |
| Financial charges | 65/66B | €149 | €52 | -€96 | -64.8% |
| Recurring financial charges | 65 | €149 | €52 | -€96 | -64.8% |
| Profit (loss) for the period before taxes | 9903 | €39,872 | -€3,961 | -€43,834 | |
| Transfer from deferred taxes | 780 | €76,539 | - | -€76,539 | |
| Income taxes | 67/77 | €58,740 | €1,090 | -€57,649 | -98.1% |
| Profit (loss) for the period | 9904 | €57,672 | -€5,052 | -€62,724 | |
| Transfer from tax-exempt reserves | 789 | €148,640 | - | -€148,640 | |
| Profit (loss) for the period to be appropriated | 9905 | €206,312 | -€5,052 | -€211,363 |
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 28 October 2026 via checked.be.