GUCLU: 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.
GUCLU
Largest movements
- Tangible fixed assets +€20,481
up €20,481 (+35.8%), from €57,149 to €77,631
of which Plant, machinery and equipment: +€20,688
- Intangible fixed assets -€2,500
down €2,500 (-25.0%), from €10,000 to €7,500
- Receivables within one year -€1,905
down €1,905 (-17.0%), from €11,192 to €9,286
of which Other amounts receivable: -€2,035
- Deferred charges and accrued income +€1,486
up €1,486 (+3,218%), from €46 to €1,532
- Other debts +€27,401
up €27,401 (+188%), from €14,555 to €41,956
- Debts after one year +€21,837
new in 2025: €21,837
- Trade debts -€12,281
down €12,281 (-57.3%), from €21,434 to €9,153
- Profit (loss) carried forward -€8,860
down €8,860, from €5,319 to -€3,541
- Current portion of long-term debt -€6,353
down €6,353 (-47.6%), from €13,352 to €7,000
- Gross operating margin -€8,567
down €8,567 (-48.6%), from €17,626 to €9,059
- Depreciation +€2,768
up €2,768 (+20.1%), from €13,751 to €16,519
- Financial charges +€1,068
up €1,068 (+118%), from €902 to €1,970
- Other operating charges -€350
down €350 (-20.6%), from €1,695 to €1,346
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 | €86,629 | €103,681 | +€17,053 | +19.7% |
| Fixed assets | 21/28 | €67,149 | €85,131 | +€17,981 | +26.8% |
| Intangible fixed assets | 21 | €10,000 | €7,500 | -€2,500 | -25.0% |
| Tangible fixed assets | 22/27 | €57,149 | €77,631 | +€20,481 | +35.8% |
| Plant, machinery and equipment | 23 | €56,556 | €77,244 | +€20,688 | +36.6% |
| Furniture and vehicles | 24 | €593 | €387 | -€206 | -34.8% |
| Current assets | 29/58 | €19,479 | €18,551 | -€929 | -4.8% |
| Stocks and contracts in progress | 3 | €983 | €1,034 | +€51 | +5.2% |
| Stocks | 30/36 | €983 | €1,034 | +€51 | +5.2% |
| Amounts receivable within one year | 40/41 | €11,192 | €9,286 | -€1,905 | -17.0% |
| Trade receivables | 40 | €2,420 | €2,549 | +€129 | +5.3% |
| Other amounts receivable | 41 | €8,772 | €6,737 | -€2,035 | -23.2% |
| Cash at bank and in hand | 54/58 | €7,259 | €6,699 | -€560 | -7.7% |
| Deferred charges and accrued income | 490/1 | €46 | €1,532 | +€1,486 | +3,218% |
| Total equity and liabilities | 10/49 | €86,629 | €103,681 | +€17,053 | +19.7% |
| Equity | 10/15 | €31,850 | €21,470 | -€10,380 | -32.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €7,939 | €6,419 | -€1,520 | -19.1% |
| Tax-exempt reserves | 132 | €6,080 | €4,560 | -€1,520 | -25.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,319 | -€3,541 | -€8,860 | |
| Provisions and deferred taxes | 16 | €1,520 | €1,140 | -€380 | -25.0% |
| Deferred taxes | 168 | €1,520 | €1,140 | -€380 | -25.0% |
| Amounts payable | 17/49 | €53,259 | €81,071 | +€27,812 | +52.2% |
| Amounts payable after more than one year | 17 | - | €21,837 | +€21,837 | |
| Financial debts | 170/4 | - | €21,837 | +€21,837 | |
| Amounts payable within one year | 42/48 | €53,259 | €58,429 | +€5,170 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €13,352 | €7,000 | -€6,353 | -47.6% |
| Trade debts | 44 | €21,434 | €9,153 | -€12,281 | -57.3% |
| Suppliers | 440/4 | €21,434 | €9,153 | -€12,281 | -57.3% |
| Taxes, remuneration and social security | 45 | €3,917 | €320 | -€3,597 | -91.8% |
| Taxes | 450/3 | €3,917 | €320 | -€3,597 | -91.8% |
| Other amounts payable | 47/48 | €14,555 | €41,956 | +€27,401 | +188% |
| Accrued charges and deferred income | 492/3 | - | €805 | +€805 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,751 | €16,519 | +€2,768 | +20.1% |
| Other operating charges | 640/8 | €1,695 | €1,346 | -€350 | -20.6% |
| Gross operating margin | 9900 | €17,626 | €9,059 | -€8,567 | -48.6% |
| Operating profit (loss) | 9901 | €2,180 | -€8,805 | -€10,985 | |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €902 | €1,970 | +€1,068 | +118% |
| Recurring financial charges | 65 | €902 | €1,970 | +€1,068 | +118% |
| Profit (loss) for the period before taxes | 9903 | €1,278 | -€10,760 | -€12,037 | |
| Transfer from deferred taxes | 780 | €380 | €380 | = | 0.0% |
| Profit (loss) for the period | 9904 | €1,658 | -€10,380 | -€12,037 | |
| Transfer from tax-exempt reserves | 789 | €1,520 | €1,520 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,178 | -€8,860 | -€12,037 |
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 14 October 2026 via checked.be.