GUARLAMB: 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.
GUARLAMB
Largest movements
- Current investments -€327,500
no longer reported in 2025 (was €327,500)
- Cash -€151,036
down €151,036 (-28.3%), from €533,697 to €382,662
mainly Other debts (-€441,960) and Receivables within one year (-€114,149)
- Receivables within one year +€114,149
up €114,149 (+64.9%), from €175,999 to €290,149
of which Other amounts receivable: +€136,182
- Stocks and contracts -€56,757
down €56,757 (-32.5%), from €174,633 to €117,876
- Tangible fixed assets -€21,764
down €21,764 (-12.4%), from €176,156 to €154,392
of which Plant, machinery and equipment: -€11,155
- Other debts -€441,960
down €441,960 (-79.6%), from €555,321 to €113,361
- Trade debts +€43,773
up €43,773 (+16.8%), from €259,965 to €303,737
- Tax, wage and social debts -€36,604
down €36,604 (-36.7%), from €99,715 to €63,111
of which Taxes: -€38,289
- Advances received +€33,140
up €33,140 (+13.8%), from €240,192 to €273,332
- Debts after one year -€29,786
down €29,786 (-29.5%), from €100,842 to €71,056
- Gross operating margin -€189,773
down €189,773 (-25.8%), from €735,189 to €545,416
- Taxes -€55,389
down €55,389 (-53.6%), from €103,403 to €48,014
- Financial income -€22,886
down €22,886 (-19.9%), from €114,808 to €91,922
- Staff costs +€11,606
up €11,606 (+2.9%), from €403,242 to €414,849
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 | €1,408,484 | €979,320 | -€429,164 | -30.5% |
| Fixed assets | 21/28 | €194,156 | €172,392 | -€21,764 | -11.2% |
| Tangible fixed assets | 22/27 | €176,156 | €154,392 | -€21,764 | -12.4% |
| Plant, machinery and equipment | 23 | €44,621 | €33,466 | -€11,155 | -25.0% |
| Furniture and vehicles | 24 | €0 | - | -€0 | |
| Other tangible fixed assets | 26 | €131,535 | €120,926 | -€10,608 | -8.1% |
| Financial fixed assets | 28 | €18,000 | €18,000 | = | 0.0% |
| Current assets | 29/58 | €1,214,328 | €806,928 | -€407,401 | -33.5% |
| Stocks and contracts in progress | 3 | €174,633 | €117,876 | -€56,757 | -32.5% |
| Stocks | 30/36 | €174,633 | €117,876 | -€56,757 | -32.5% |
| Amounts receivable within one year | 40/41 | €175,999 | €290,149 | +€114,149 | +64.9% |
| Trade receivables | 40 | €168,219 | €146,187 | -€22,033 | -13.1% |
| Other amounts receivable | 41 | €7,780 | €143,962 | +€136,182 | +1,750% |
| Current investments | 50/53 | €327,500 | - | -€327,500 | |
| Cash at bank and in hand | 54/58 | €533,697 | €382,662 | -€151,036 | -28.3% |
| Deferred charges and accrued income | 490/1 | €2,498 | €16,241 | +€13,743 | +550% |
| Total equity and liabilities | 10/49 | €1,408,484 | €979,320 | -€429,164 | -30.5% |
| Equity | 10/15 | €122,268 | €122,268 | = | 0.0% |
| Contributions | 10/11 | €75,480 | €75,480 | = | 0.0% |
| Capital | 10 | €75,480 | €75,480 | = | 0.0% |
| Issued capital | 100 | €75,480 | €75,480 | = | 0.0% |
| Reserves | 13 | €46,788 | €46,788 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,548 | €7,548 | = | 0.0% |
| Legal reserve | 130 | €7,548 | €7,548 | = | 0.0% |
| Distributable reserves | 133 | €39,240 | €39,240 | = | 0.0% |
| Amounts payable | 17/49 | €1,286,216 | €857,052 | -€429,164 | -33.4% |
| Amounts payable after more than one year | 17 | €100,842 | €71,056 | -€29,786 | -29.5% |
| Financial debts | 170/4 | €100,842 | €71,056 | -€29,786 | -29.5% |
| Amounts payable within one year | 42/48 | €1,182,642 | €783,327 | -€399,315 | -33.8% |
| Current portion of amounts payable after more than one year | 42 | €27,450 | €29,786 | +€2,336 | +8.5% |
| Trade debts | 44 | €259,965 | €303,737 | +€43,773 | +16.8% |
| Suppliers | 440/4 | €259,965 | €303,737 | +€43,773 | +16.8% |
| Advances received on contracts in progress | 46 | €240,192 | €273,332 | +€33,140 | +13.8% |
| Taxes, remuneration and social security | 45 | €99,715 | €63,111 | -€36,604 | -36.7% |
| Taxes | 450/3 | €58,663 | €20,374 | -€38,289 | -65.3% |
| Remuneration and social security | 454/9 | €41,052 | €42,737 | +€1,685 | +4.1% |
| Other amounts payable | 47/48 | €555,321 | €113,361 | -€441,960 | -79.6% |
| Accrued charges and deferred income | 492/3 | €2,731 | €2,668 | -€63 | -2.3% |
| Remuneration, social security and pensions | 62 | €403,242 | €414,849 | +€11,606 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,196 | €30,793 | -€2,403 | -7.2% |
| Other operating charges | 640/8 | €16,250 | €15,379 | -€870 | -5.4% |
| Non-recurring operating charges | 66A | - | €36 | +€36 | |
| Gross operating margin | 9900 | €735,189 | €545,416 | -€189,773 | -25.8% |
| Operating profit (loss) | 9901 | €282,501 | €84,359 | -€198,142 | -70.1% |
| Financial income | 75/76B | €114,808 | €91,922 | -€22,886 | -19.9% |
| Recurring financial income | 75 | €114,808 | €91,922 | -€22,886 | -19.9% |
| Financial charges | 65/66B | €11,585 | €14,906 | +€3,321 | +28.7% |
| Recurring financial charges | 65 | €11,585 | €14,906 | +€3,321 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | €385,724 | €161,375 | -€224,349 | -58.2% |
| Income taxes | 67/77 | €103,403 | €48,014 | -€55,389 | -53.6% |
| Profit (loss) for the period | 9904 | €282,321 | €113,361 | -€168,960 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €282,321 | €113,361 | -€168,960 | -59.8% |
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 18 October 2026 via checked.be.