GUARD: what changed
Two fiscal 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.
GUARD
Largest movements
- Cash +€36,898
up €36,898 (+453.6%), from €8,134 to €45,032
mainly Receivables within one year (+€30,612) and Net result for the year (+€6,546)
- Receivables within one year -€30,612
down €30,612 (-97.4%), from €31,440 to €829
of which Trade receivables: -€31,224
- Profit (loss) carried forward +€6,546
up €6,546 (+66.4%), from €9,857 to €16,403
- Other debts +€698
up €698 (+2.5%), from €27,445 to €28,143
- Tax, wage and social debts -€594
down €594 (-22.5%), from €2,636 to €2,042
- Gross operating margin -€9,848
down €9,848 (-49.0%), from €20,082 to €10,234
- Taxes -€594
down €594 (-22.5%), from €2,636 to €2,042
- Depreciation +€268
up €268 (+22.1%), from €1,216 to €1,485
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 | €42,389 | €48,590 | +€6,201 | +14.6% |
| Fixed assets | 21/28 | €2,814 | €2,729 | -€85 | -3.0% |
| Tangible fixed assets | 22/27 | €2,814 | €2,729 | -€85 | -3.0% |
| Furniture and vehicles | 24 | €2,814 | €2,729 | -€85 | -3.0% |
| Current assets | 29/58 | €39,575 | €45,861 | +€6,286 | +15.9% |
| Amounts receivable within one year | 40/41 | €31,440 | €829 | -€30,612 | -97.4% |
| Trade receivables | 40 | €31,224 | - | -€31,224 | |
| Other amounts receivable | 41 | €216 | €829 | +€612 | +282.8% |
| Cash at bank and in hand | 54/58 | €8,134 | €45,032 | +€36,898 | +453.6% |
| Total equity and liabilities | 10/49 | €42,389 | €48,590 | +€6,201 | +14.6% |
| Equity | 10/15 | €11,857 | €18,403 | +€6,546 | +55.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,857 | €16,403 | +€6,546 | +66.4% |
| Amounts payable | 17/49 | €30,532 | €30,187 | -€345 | -1.1% |
| Amounts payable within one year | 42/48 | €30,532 | €30,187 | -€345 | -1.1% |
| Trade debts | 44 | €450 | €1 | -€449 | -99.7% |
| Suppliers | 440/4 | €450 | €1 | -€449 | -99.7% |
| Taxes, remuneration and social security | 45 | €2,636 | €2,042 | -€594 | -22.5% |
| Taxes | 450/3 | €2,636 | €2,042 | -€594 | -22.5% |
| Other amounts payable | 47/48 | €27,445 | €28,143 | +€698 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,216 | €1,485 | +€268 | +22.1% |
| Gross operating margin | 9900 | €20,082 | €10,234 | -€9,848 | -49.0% |
| Operating profit (loss) | 9901 | €18,866 | €8,749 | -€10,117 | -53.6% |
| Financial charges | 65/66B | €62 | €161 | +€98 | +157.7% |
| Recurring financial charges | 65 | €62 | €161 | +€98 | +157.7% |
| Profit (loss) for the period before taxes | 9903 | €18,803 | €8,588 | -€10,215 | -54.3% |
| Income taxes | 67/77 | €2,636 | €2,042 | -€594 | -22.5% |
| Profit (loss) for the period | 9904 | €16,167 | €6,546 | -€9,621 | -59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,167 | €6,546 | -€9,621 | -59.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.