GIURENZO: 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.
GIURENZO
Largest movements
- Tangible fixed assets +€47,875
up €47,875 (+694%), from €6,895 to €54,770
- Cash -€18,374
down €18,374 (-36.6%), from €50,142 to €31,768
mainly Investment in fixed assets (net) (-€62,910) and Trade debts (-€16,913)
- Receivables within one year -€14,013
down €14,013 (-29.7%), from €47,176 to €33,164
of which Trade receivables: -€14,103
- Other debts +€24,148
up €24,148 (+33.6%), from €71,770 to €95,918
- Trade debts -€16,913
down €16,913 (-46.7%), from €36,227 to €19,314
of which Suppliers: -€16,913
- Tax, wage and social debts +€7,806
up €7,806 (+204%), from €3,819 to €11,624
of which Remuneration and social security: +€4,000
- Depreciation +€9,928
up €9,928 (+194%), from €5,107 to €15,035
- Gross operating margin +€9,321
up €9,321 (+111%), from €8,379 to €17,700
- Staff costs -€206
no longer reported in 2025 (was €206)
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 | €104,214 | €119,702 | +€15,488 | +14.9% |
| Fixed assets | 21/28 | €6,895 | €54,770 | +€47,875 | +694% |
| Tangible fixed assets | 22/27 | €6,895 | €54,770 | +€47,875 | +694% |
| Furniture and vehicles | 24 | €6,895 | €54,770 | +€47,875 | +694% |
| Current assets | 29/58 | €97,319 | €64,932 | -€32,387 | -33.3% |
| Amounts receivable within one year | 40/41 | €47,176 | €33,164 | -€14,013 | -29.7% |
| Trade receivables | 40 | €46,939 | €32,836 | -€14,103 | -30.0% |
| Other amounts receivable | 41 | €238 | €328 | +€90 | +38.0% |
| Cash at bank and in hand | 54/58 | €50,142 | €31,768 | -€18,374 | -36.6% |
| Total equity and liabilities | 10/49 | €104,214 | €119,702 | +€15,488 | +14.9% |
| Equity | 10/15 | -€7,602 | -€7,155 | +€448 | +5.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,062 | -€27,615 | +€448 | +1.6% |
| Amounts payable | 17/49 | €111,816 | €126,857 | +€15,040 | +13.5% |
| Amounts payable within one year | 42/48 | €111,816 | €126,857 | +€15,040 | +13.5% |
| Trade debts | 44 | €36,227 | €19,314 | -€16,913 | -46.7% |
| Suppliers | 440/4 | €34,027 | €17,114 | -€16,913 | -49.7% |
| Bills of exchange payable | 441 | €2,200 | €2,200 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,819 | €11,624 | +€7,806 | +204% |
| Taxes | 450/3 | €2,819 | €6,624 | +€3,806 | +135% |
| Remuneration and social security | 454/9 | €1,000 | €5,000 | +€4,000 | +400% |
| Other amounts payable | 47/48 | €71,770 | €95,918 | +€24,148 | +33.6% |
| Remuneration, social security and pensions | 62 | €206 | - | -€206 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,107 | €15,035 | +€9,928 | +194% |
| Other operating charges | 640/8 | €1,637 | €1,611 | -€26 | -1.6% |
| Gross operating margin | 9900 | €8,379 | €17,700 | +€9,321 | +111% |
| Operating profit (loss) | 9901 | €1,430 | €1,055 | -€375 | -26.2% |
| Financial charges | 65/66B | €522 | €607 | +€85 | +16.3% |
| Recurring financial charges | 65 | €522 | €607 | +€85 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €908 | €448 | -€460 | -50.7% |
| Profit (loss) for the period | 9904 | €908 | €448 | -€460 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €908 | €448 | -€460 | -50.7% |
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 28 October 2026 via checked.be.