Guarde: 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.
Guarde
Largest movements
- Tangible fixed assets +€39,257
up €39,257 (+62.1%), from €63,262 to €102,519
of which Furniture and vehicles: +€36,475
- Receivables within one year +€5,286
new in 2025: €5,286
of which Trade receivables: +€5,259
- Cash -€4,858
down €4,858 (-2.5%), from €192,047 to €187,189
mainly Investment in fixed assets (net) (-€44,479) and Other debts (-€5,639)
- Reserves +€28,551
up €28,551 (+51.5%), from €55,413 to €83,964
- Tax, wage and social debts +€16,249
up €16,249 (+470.9%), from €3,450 to €19,699
- Other debts -€5,639
down €5,639 (-8.4%), from €67,128 to €61,489
- Gross operating margin +€58,796
up €58,796, from -€2,694 to €56,102
- Financial income -€27,985
down €27,985 (-94.8%), from €29,515 to €1,531
- Taxes +€13,101
up €13,101 (+582.9%), from €2,248 to €15,349
- Depreciation -€8,704
down €8,704 (-62.5%), from €13,926 to €5,222
- Other operating charges +€3,905
up €3,905 (+1008.2%), from €387 to €4,293
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 | €255,309 | €297,203 | +€41,893 | +16.4% |
| Fixed assets | 21/28 | €63,262 | €102,519 | +€39,257 | +62.1% |
| Tangible fixed assets | 22/27 | €63,262 | €102,519 | +€39,257 | +62.1% |
| Land and buildings | 22 | €63,262 | €66,044 | +€2,781 | +4.4% |
| Furniture and vehicles | 24 | - | €36,475 | +€36,475 | |
| Current assets | 29/58 | €192,047 | €194,683 | +€2,636 | +1.4% |
| Amounts receivable within one year | 40/41 | - | €5,286 | +€5,286 | |
| Trade receivables | 40 | - | €5,259 | +€5,259 | |
| Other amounts receivable | 41 | - | €27 | +€27 | |
| Cash at bank and in hand | 54/58 | €192,047 | €187,189 | -€4,858 | -2.5% |
| Deferred charges and accrued income | 490/1 | - | €2,209 | +€2,209 | |
| Total equity and liabilities | 10/49 | €255,309 | €297,203 | +€41,893 | +16.4% |
| Equity | 10/15 | €180,413 | €208,964 | +€28,551 | +15.8% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €55,413 | €83,964 | +€28,551 | +51.5% |
| Distributable reserves | 133 | €55,413 | €83,964 | +€28,551 | +51.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €74,897 | €88,239 | +€13,342 | +17.8% |
| Amounts payable within one year | 42/48 | €70,788 | €81,820 | +€11,032 | +15.6% |
| Trade debts | 44 | €210 | €633 | +€423 | +201.1% |
| Suppliers | 440/4 | €210 | €633 | +€423 | +201.1% |
| Taxes, remuneration and social security | 45 | €3,450 | €19,699 | +€16,249 | +470.9% |
| Taxes | 450/3 | €3,450 | €19,699 | +€16,249 | +470.9% |
| Other amounts payable | 47/48 | €67,128 | €61,489 | -€5,639 | -8.4% |
| Accrued charges and deferred income | 492/3 | €4,109 | €6,418 | +€2,310 | +56.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,926 | €5,222 | -€8,704 | -62.5% |
| Other operating charges | 640/8 | €387 | €4,293 | +€3,905 | +1008.2% |
| Gross operating margin | 9900 | -€2,694 | €56,102 | +€58,796 | |
| Operating profit (loss) | 9901 | -€17,007 | €46,588 | +€63,595 | |
| Financial income | 75/76B | €29,515 | €1,531 | -€27,985 | -94.8% |
| Recurring financial income | 75 | €29,515 | €1,531 | -€27,985 | -94.8% |
| Financial charges | 65/66B | €4,187 | €4,219 | +€32 | +0.8% |
| Recurring financial charges | 65 | €4,187 | €4,219 | +€32 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €8,322 | €43,900 | +€35,578 | +427.5% |
| Income taxes | 67/77 | €2,248 | €15,349 | +€13,101 | +582.9% |
| Profit (loss) for the period | 9904 | €6,074 | €28,551 | +€22,477 | +370.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,074 | €28,551 | +€22,477 | +370.1% |
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 3 October 2026 via checked.be.