GUAPA: 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.
GUAPA
Largest movements
- Stocks and contracts -€37,271
down €37,271 (-27.3%), from €136,418 to €99,147
- Tangible fixed assets -€14,972
down €14,972 (-28.7%), from €52,186 to €37,214
of which Furniture and vehicles: -€16,744
- Cash -€3,081
down €3,081 (-9.3%), from €33,060 to €29,980
mainly Net result for the year (-€39,491) and Tax, wage and social debts (-€13,342)
- Profit (loss) carried forward -€39,491
down €39,491 (-65.0%), from -€60,792 to -€100,283
- Tax, wage and social debts -€13,342
down €13,342 (-71.6%), from €18,628 to €5,286
of which Taxes: -€14,117
- Trade debts +€11,541
up €11,541 (+52,991%), from €22 to €11,563
- Other debts -€11,524
down €11,524 (-5.5%), from €210,944 to €199,420
- Staff costs +€21,977
up €21,977 (+243%), from €9,053 to €31,030
- Depreciation -€4,466
down €4,466 (-17.4%), from €25,649 to €21,184
- Gross operating margin -€364
down €364 (-1.5%), from €24,964 to €24,599
- Other operating charges +€291
up €291 (+21.5%), from €1,353 to €1,644
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 | €227,102 | €174,286 | -€52,816 | -23.3% |
| Fixed assets | 21/28 | €52,186 | €37,214 | -€14,972 | -28.7% |
| Tangible fixed assets | 22/27 | €52,186 | €37,214 | -€14,972 | -28.7% |
| Plant, machinery and equipment | 23 | €13,666 | €16,429 | +€2,763 | +20.2% |
| Furniture and vehicles | 24 | €31,663 | €14,919 | -€16,744 | -52.9% |
| Other tangible fixed assets | 26 | €6,857 | €5,865 | -€991 | -14.5% |
| Current assets | 29/58 | €174,916 | €137,072 | -€37,844 | -21.6% |
| Stocks and contracts in progress | 3 | €136,418 | €99,147 | -€37,271 | -27.3% |
| Stocks | 30/36 | €136,418 | €99,147 | -€37,271 | -27.3% |
| Amounts receivable within one year | 40/41 | €1,527 | €3,327 | +€1,800 | +118% |
| Other amounts receivable | 41 | €1,527 | €3,327 | +€1,800 | +118% |
| Cash at bank and in hand | 54/58 | €33,060 | €29,980 | -€3,081 | -9.3% |
| Deferred charges and accrued income | 490/1 | €3,910 | €4,618 | +€708 | +18.1% |
| Total equity and liabilities | 10/49 | €227,102 | €174,286 | -€52,816 | -23.3% |
| Equity | 10/15 | -€4,492 | -€43,983 | -€39,491 | -879% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €36,300 | €36,300 | = | 0.0% |
| Distributable reserves | 133 | €36,300 | €36,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,792 | -€100,283 | -€39,491 | -65.0% |
| Amounts payable | 17/49 | €231,594 | €218,269 | -€13,325 | -5.8% |
| Amounts payable within one year | 42/48 | €229,594 | €216,269 | -€13,325 | -5.8% |
| Trade debts | 44 | €22 | €11,563 | +€11,541 | +52,991% |
| Suppliers | 440/4 | €22 | €11,563 | +€11,541 | +52,991% |
| Taxes, remuneration and social security | 45 | €18,628 | €5,286 | -€13,342 | -71.6% |
| Taxes | 450/3 | €14,922 | €804 | -€14,117 | -94.6% |
| Remuneration and social security | 454/9 | €3,706 | €4,481 | +€775 | +20.9% |
| Other amounts payable | 47/48 | €210,944 | €199,420 | -€11,524 | -5.5% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €9,053 | €31,030 | +€21,977 | +243% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,649 | €21,184 | -€4,466 | -17.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,125 | €10,125 | = | 0.0% |
| Other operating charges | 640/8 | €1,353 | €1,644 | +€291 | +21.5% |
| Gross operating margin | 9900 | €24,964 | €24,599 | -€364 | -1.5% |
| Operating profit (loss) | 9901 | -€21,217 | -€39,384 | -€18,167 | -85.6% |
| Financial income | 75/76B | €302 | €339 | +€36 | +11.9% |
| Recurring financial income | 75 | €302 | €339 | +€36 | +11.9% |
| Financial charges | 65/66B | €114 | €305 | +€191 | +168% |
| Recurring financial charges | 65 | €114 | €305 | +€191 | +168% |
| Profit (loss) for the period before taxes | 9903 | -€21,028 | -€39,350 | -€18,321 | -87.1% |
| Income taxes | 67/77 | €345 | €141 | -€204 | -59.1% |
| Profit (loss) for the period | 9904 | -€21,373 | -€39,491 | -€18,118 | -84.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,373 | -€39,491 | -€18,118 | -84.8% |
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 15 October 2026 via checked.be.