GUCHET-THUNUS: 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.
GUCHET-THUNUS
Largest movements
- Stocks and contracts +€51,627
up €51,627 (+24.0%), from €215,102 to €266,729
- Tangible fixed assets -€39,608
down €39,608 (-2.5%), from €1.6m to €1.6m
of which Land and buildings: -€38,110
- Cash +€36,991
up €36,991 (+77.3%), from €47,855 to €84,846
mainly Depreciation (+€128,561) and Net result for the year (+€102,300)
- Deferred charges and accrued income -€29,753
down €29,753 (-48.4%), from €61,434 to €31,681
- Debts after one year -€96,590
down €96,590 (-8.5%), from €1.1m to €1.0m
- Trade debts +€63,369
up €63,369 (+72.0%), from €87,995 to €151,363
- Reserves +€49,250
up €49,250 (+14.9%), from €330,887 to €380,137
of which Distributable reserves: +€49,250
- Short-term financial debts -€40,487
no longer reported in 2025 (was €40,487)
- Tax, wage and social debts +€31,327
up €31,327 (+31.5%), from €99,521 to €130,847
of which Remuneration and social security: +€29,456
- Turnover +€540,541
up €540,541 (+31.1%), from €1.7m to €2.3m
- Gross operating margin +€294,271
up €294,271 (+40.4%), from €728,123 to €1.0m
- Purchases and services +€255,997
up €255,997 (+25.1%), from €1.0m to €1.3m
- Staff costs +€203,176
up €203,176 (+43.0%), from €472,358 to €675,534
- Depreciation +€38,218
up €38,218 (+42.3%), from €90,342 to €128,561
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 | €2,090,872 | €2,122,974 | +€32,102 | +1.5% |
| Formation expenses | 20 | €18,496 | €11,097 | -€7,398 | -40.0% |
| Fixed assets | 21/28 | €1,600,163 | €1,560,615 | -€39,548 | -2.5% |
| Tangible fixed assets | 22/27 | €1,598,578 | €1,558,970 | -€39,608 | -2.5% |
| Land and buildings | 22 | €1,449,522 | €1,411,412 | -€38,110 | -2.6% |
| Plant, machinery and equipment | 23 | €32,683 | €45,684 | +€13,001 | +39.8% |
| Furniture and vehicles | 24 | €116,373 | €101,874 | -€14,500 | -12.5% |
| Financial fixed assets | 28 | €1,585 | €1,645 | +€60 | +3.8% |
| Current assets | 29/58 | €472,214 | €551,261 | +€79,048 | +16.7% |
| Stocks and contracts in progress | 3 | €215,102 | €266,729 | +€51,627 | +24.0% |
| Stocks | 30/36 | €215,102 | €266,729 | +€51,627 | +24.0% |
| Amounts receivable within one year | 40/41 | €147,822 | €168,005 | +€20,183 | +13.7% |
| Trade receivables | 40 | €12,981 | €1,770 | -€11,211 | -86.4% |
| Other amounts receivable | 41 | €134,841 | €166,235 | +€31,394 | +23.3% |
| Cash at bank and in hand | 54/58 | €47,855 | €84,846 | +€36,991 | +77.3% |
| Deferred charges and accrued income | 490/1 | €61,434 | €31,681 | -€29,753 | -48.4% |
| Total equity and liabilities | 10/49 | €2,090,872 | €2,122,974 | +€32,102 | +1.5% |
| Equity | 10/15 | €599,145 | €648,445 | +€49,300 | +8.2% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Reserves | 13 | €330,887 | €380,137 | +€49,250 | +14.9% |
| Non-distributable reserves | 130/1 | €12,387 | €12,387 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,387 | €12,387 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €299,750 | €349,000 | +€49,250 | +16.4% |
| Profit (loss) carried forward | 14 | €48,258 | €48,309 | +€50 | +0.1% |
| Amounts payable | 17/49 | €1,491,728 | €1,474,529 | -€17,199 | -1.2% |
| Amounts payable after more than one year | 17 | €1,133,142 | €1,036,552 | -€96,590 | -8.5% |
| Financial debts | 170/4 | €1,133,142 | €1,036,552 | -€96,590 | -8.5% |
| Amounts payable within one year | 42/48 | €358,585 | €437,976 | +€79,391 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €130,570 | €155,766 | +€25,195 | +19.3% |
| Financial debts | 43 | €40,487 | - | -€40,487 | |
| Credit institutions | 430/8 | €40,487 | - | -€40,487 | |
| Trade debts | 44 | €87,995 | €151,363 | +€63,369 | +72.0% |
| Suppliers | 440/4 | €87,995 | €151,363 | +€63,369 | +72.0% |
| Taxes, remuneration and social security | 45 | €99,521 | €130,847 | +€31,327 | +31.5% |
| Taxes | 450/3 | €46,325 | €48,196 | +€1,871 | +4.0% |
| Remuneration and social security | 454/9 | €53,196 | €82,651 | +€29,456 | +55.4% |
| Other amounts payable | 47/48 | €12 | - | -€12 | |
| Turnover | 70 | €1,739,550 | €2,280,091 | +€540,541 | +31.1% |
| Non-recurring operating income | 76A | €9,304 | €19,031 | +€9,727 | +105% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,020,731 | €1,276,728 | +€255,997 | +25.1% |
| Remuneration, social security and pensions | 62 | €472,358 | €675,534 | +€203,176 | +43.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,342 | €128,561 | +€38,218 | +42.3% |
| Other operating charges | 640/8 | €10,974 | €13,524 | +€2,549 | +23.2% |
| Gross operating margin | 9900 | €728,123 | €1,022,394 | +€294,271 | +40.4% |
| Operating profit (loss) | 9901 | €154,448 | €204,775 | +€50,327 | +32.6% |
| Financial income | 75/76B | €838 | €403 | -€435 | -51.9% |
| Recurring financial income | 75 | €838 | €403 | -€435 | -51.9% |
| Financial charges | 65/66B | €51,555 | €61,367 | +€9,812 | +19.0% |
| Recurring financial charges | 65 | €51,555 | €61,367 | +€9,812 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €103,731 | €143,812 | +€40,080 | +38.6% |
| Income taxes | 67/77 | €13,778 | €41,511 | +€27,733 | +201% |
| Profit (loss) for the period | 9904 | €89,954 | €102,300 | +€12,347 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €89,954 | €102,300 | +€12,347 | +13.7% |
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 30 October 2026 via checked.be.