GUARAN: 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.
GUARAN
Largest movements
- Cash -€457,443
down €457,443 (-64.8%), from €706,040 to €248,597
mainly Receivables after one year (-€270,000) and Other debts (-€187,340)
- Receivables after one year +€270,000
up €270,000 (+90.0%), from €300,000 to €570,000
- Receivables within one year +€108,754
up €108,754 (+95.6%), from €113,760 to €222,514
of which Other amounts receivable: +€104,904
- Tangible fixed assets -€19,622
down €19,622 (-3.9%), from €498,932 to €479,310
of which Land and buildings: -€19,685
- Other debts -€187,340
down €187,340 (-60.9%), from €307,800 to €120,460
- Reserves +€95,799
up €95,799 (+6.9%), from €1.4m to €1.5m
of which Distributable reserves: +€95,799
- Tax, wage and social debts +€18,373
up €18,373 (+89.2%), from €20,605 to €38,978
- Other operating charges -€5,369
down €5,369 (-22.9%), from €23,495 to €18,126
- Taxes -€4,813
down €4,813 (-4.5%), from €105,799 to €100,986
- Depreciation -€4,052
down €4,052 (-10.6%), from €38,161 to €34,109
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 | €1,818,694 | €1,720,413 | -€98,281 | -5.4% |
| Fixed assets | 21/28 | €498,932 | €479,310 | -€19,622 | -3.9% |
| Tangible fixed assets | 22/27 | €498,932 | €479,310 | -€19,622 | -3.9% |
| Land and buildings | 22 | €473,230 | €453,545 | -€19,685 | -4.2% |
| Plant, machinery and equipment | 23 | €13,561 | €10,169 | -€3,392 | -25.0% |
| Furniture and vehicles | 24 | €12,140 | €15,596 | +€3,456 | +28.5% |
| Current assets | 29/58 | €1,319,762 | €1,241,103 | -€78,659 | -6.0% |
| Amounts receivable after more than one year | 29 | €300,000 | €570,000 | +€270,000 | +90.0% |
| Trade receivables | 290 | €300,000 | €570,000 | +€270,000 | +90.0% |
| Amounts receivable within one year | 40/41 | €113,760 | €222,514 | +€108,754 | +95.6% |
| Trade receivables | 40 | €58,831 | €62,681 | +€3,851 | +6.5% |
| Other amounts receivable | 41 | €54,929 | €159,833 | +€104,904 | +191.0% |
| Current investments | 50/53 | €197,544 | €197,544 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €706,040 | €248,597 | -€457,443 | -64.8% |
| Deferred charges and accrued income | 490/1 | €2,417 | €2,447 | +€30 | +1.2% |
| Total equity and liabilities | 10/49 | €1,818,694 | €1,720,413 | -€98,281 | -5.4% |
| Equity | 10/15 | €1,458,589 | €1,554,389 | +€95,799 | +6.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Contributions outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Other | 1109/19 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,396,589 | €1,492,389 | +€95,799 | +6.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,390,389 | €1,486,189 | +€95,799 | +6.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €360,104 | €166,024 | -€194,080 | -53.9% |
| Amounts payable within one year | 42/48 | €360,104 | €164,112 | -€195,992 | -54.4% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €0 | -€10,000 | -100.0% |
| Trade debts | 44 | €21,699 | €4,675 | -€17,025 | -78.5% |
| Suppliers | 440/4 | €21,699 | €4,675 | -€17,025 | -78.5% |
| Taxes, remuneration and social security | 45 | €20,605 | €38,978 | +€18,373 | +89.2% |
| Taxes | 450/3 | €20,605 | €38,978 | +€18,373 | +89.2% |
| Other amounts payable | 47/48 | €307,800 | €120,460 | -€187,340 | -60.9% |
| Accrued charges and deferred income | 492/3 | - | €1,912 | +€1,912 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,161 | €34,109 | -€4,052 | -10.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €450 | +€450 | |
| Other operating charges | 640/8 | €23,495 | €18,126 | -€5,369 | -22.9% |
| Gross operating margin | 9900 | €368,452 | €371,569 | +€3,116 | +0.8% |
| Operating profit (loss) | 9901 | €306,796 | €318,884 | +€12,087 | +3.9% |
| Financial income | 75/76B | €9,914 | €9,827 | -€87 | -0.9% |
| Recurring financial income | 75 | €9,914 | €9,827 | -€87 | -0.9% |
| Financial charges | 65/66B | €5,145 | €5,125 | -€20 | -0.4% |
| Recurring financial charges | 65 | €5,145 | €5,125 | -€20 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €311,565 | €323,585 | +€12,020 | +3.9% |
| Income taxes | 67/77 | €105,799 | €100,986 | -€4,813 | -4.5% |
| Profit (loss) for the period | 9904 | €205,766 | €222,599 | +€16,833 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €205,766 | €222,599 | +€16,833 | +8.2% |
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 12 October 2026 via checked.be.