GUARNERI: 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.
GUARNERI
Largest movements
- Intangible fixed assets -€20,433
down €20,433 (-28.3%), from €72,215 to €51,782
- Tangible fixed assets +€18,305
up €18,305 (+240.4%), from €7,614 to €25,920
of which Furniture and vehicles: +€19,949
- Cash -€10,936
down €10,936 (-20.3%), from €53,862 to €42,927
mainly Other debts (-€30,653) and Investment in fixed assets (net) (-€26,500)
- Receivables within one year -€5,592
down €5,592 (-30.4%), from €18,366 to €12,774
of which Trade receivables: -€8,130
- Deferred charges and accrued income -€2,936
down €2,936 (-88.0%), from €3,335 to €399
- Other debts -€30,653
down €30,653 (-49.6%), from €61,745 to €31,092
- Reserves +€13,800
new in 2024: €13,800
- Trade debts -€7,873
down €7,873 (-58.8%), from €13,396 to €5,523
- Debts after one year +€7,338
up €7,338 (+99.8%), from €7,353 to €14,691
- Current portion of long-term debt -€4,462
down €4,462 (-28.7%), from €15,551 to €11,089
- Gross operating margin -€10,263
down €10,263 (-8.8%), from €116,087 to €105,824
- Staff costs +€2,189
up €2,189 (+4.8%), from €45,272 to €47,461
- Depreciation -€1,634
down €1,634 (-5.4%), from €30,262 to €28,627
- Other operating charges +€1,560
up €1,560 (+221.6%), from €704 to €2,264
- Financial charges +€1,236
up €1,236 (+38.9%), from €3,177 to €4,413
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €155,418 | €133,826 | -€21,591 | -13.9% |
| Fixed assets | 21/28 | €79,854 | €77,727 | -€2,127 | -2.7% |
| Intangible fixed assets | 21 | €72,215 | €51,782 | -€20,433 | -28.3% |
| Tangible fixed assets | 22/27 | €7,614 | €25,920 | +€18,305 | +240.4% |
| Plant, machinery and equipment | 23 | €2,731 | €1,292 | -€1,439 | -52.7% |
| Furniture and vehicles | 24 | €3,012 | €22,961 | +€19,949 | +662.4% |
| Other tangible fixed assets | 26 | €1,872 | €1,666 | -€205 | -11.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €75,564 | €56,100 | -€19,464 | -25.8% |
| Amounts receivable within one year | 40/41 | €18,366 | €12,774 | -€5,592 | -30.4% |
| Trade receivables | 40 | €18,365 | €10,234 | -€8,130 | -44.3% |
| Other amounts receivable | 41 | €2 | €2,540 | +€2,538 | +144222.2% |
| Cash at bank and in hand | 54/58 | €53,862 | €42,927 | -€10,936 | -20.3% |
| Deferred charges and accrued income | 490/1 | €3,335 | €399 | -€2,936 | -88.0% |
| Total equity and liabilities | 10/49 | €155,418 | €133,826 | -€21,591 | -13.9% |
| Equity | 10/15 | €43,642 | €57,488 | +€13,846 | +31.7% |
| Contributions | 10/11 | €20,900 | €20,900 | = | 0.0% |
| Reserves | 13 | - | €13,800 | +€13,800 | |
| Distributable reserves | 133 | - | €13,800 | +€13,800 | |
| Profit (loss) carried forward | 14 | €22,742 | €22,788 | +€46 | +0.2% |
| Amounts payable | 17/49 | €111,776 | €76,338 | -€35,438 | -31.7% |
| Amounts payable after more than one year | 17 | €7,353 | €14,691 | +€7,338 | +99.8% |
| Financial debts | 170/4 | €7,353 | €14,691 | +€7,338 | +99.8% |
| Amounts payable within one year | 42/48 | €102,898 | €59,845 | -€43,053 | -41.8% |
| Current portion of amounts payable after more than one year | 42 | €15,551 | €11,089 | -€4,462 | -28.7% |
| Financial debts | 43 | €1,820 | €4,203 | +€2,383 | +130.9% |
| Credit institutions | 430/8 | €1,820 | €4,203 | +€2,383 | +130.9% |
| Trade debts | 44 | €13,396 | €5,523 | -€7,873 | -58.8% |
| Suppliers | 440/4 | €13,396 | €5,523 | -€7,873 | -58.8% |
| Taxes, remuneration and social security | 45 | €10,387 | €7,939 | -€2,448 | -23.6% |
| Taxes | 450/3 | €8,553 | €7,939 | -€614 | -7.2% |
| Remuneration and social security | 454/9 | €1,833 | - | -€1,833 | |
| Other amounts payable | 47/48 | €61,745 | €31,092 | -€30,653 | -49.6% |
| Accrued charges and deferred income | 492/3 | €1,524 | €1,801 | +€277 | +18.2% |
| Remuneration, social security and pensions | 62 | €45,272 | €47,461 | +€2,189 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,262 | €28,627 | -€1,634 | -5.4% |
| Other operating charges | 640/8 | €704 | €2,264 | +€1,560 | +221.6% |
| Gross operating margin | 9900 | €116,087 | €105,824 | -€10,263 | -8.8% |
| Operating profit (loss) | 9901 | €39,849 | €27,472 | -€12,378 | -31.1% |
| Financial income | 75/76B | €1 | €26 | +€25 | +2430.4% |
| Recurring financial income | 75 | €1 | €26 | +€25 | +2430.4% |
| Financial charges | 65/66B | €3,177 | €4,413 | +€1,236 | +38.9% |
| Recurring financial charges | 65 | €3,177 | €4,413 | +€1,236 | +38.9% |
| Profit (loss) for the period before taxes | 9903 | €36,674 | €23,084 | -€13,589 | -37.1% |
| Income taxes | 67/77 | €6,995 | €7,238 | +€243 | +3.5% |
| Profit (loss) for the period | 9904 | €29,679 | €15,846 | -€13,832 | -46.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,679 | €15,846 | -€13,832 | -46.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.