GUDANI: 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.
What changed
GUDANI
NACE 18.140, Printing and reproduction of recorded media
financial year 31-12-2025 compared with 31-12-2024filed annual accounts (NBB)
Net result for the year
€176,734
31-12-2024 · €1.3m-€1.1m
Equity
€14.3m
31-12-2024 · €14.1m+€176,734
Cash
€1.3m
31-12-2024 · €1.3m+€10,689
Balance sheet total
€16.7m
31-12-2024 · €16.6m+€127,729
Largest movements
Assets
- Receivables within one year +€228,136
up €228,136 (+24.4%), from €935,376 to €1.2m
of which Other amounts receivable: +€120,672
Equity and liabilities
- Reserves +€176,734
up €176,734 (+1.3%), from €13.7m to €13.8m
of which Distributable reserves: +€176,734
Income statement
- Financial income -€1.1m
down €1.1m (-79.2%), from €1.4m to €298,431
- Gross operating margin -€15,911
down €15,911 (-5.3%), from €302,857 to €286,946
- Taxes -€14,275
down €14,275 (-54.7%), from €26,073 to €11,798
- Financial charges +€10,813
up €10,813 (+7.2%), from €149,619 to €160,432
- Staff costs -€4,841
down €4,841 (-2.5%), from €189,974 to €185,134
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
€1.3m
Gross operating margin
-€15,911
Staff costs
+€4,841
Depreciation
+€340
Other operating charges
+€1,819
Financial income
-€1.1m
Financial charges
-€10,813
Taxes
+€14,275
Result 31-12-2025
€176,734
raises the resultlowers the result
Derived cash bridge
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€40,362
Investment
+€51,050
Financing
€0
Cash 31-12-2024
€1.3m
From operations (derived)
-€40,362
Net result for the year
+€176,734
Depreciation
+€41,118
Receivables after one year
+€3,375
Receivables within one year
-€228,136
Deferred charges and accrued income
+€15,553
Trade debts
-€6,114
Tax, wage and social debts
-€9,021
Other debts
-€23,478
Accrued charges and deferred income
-€10,391
Investment (derived)
+€51,050
Investment in fixed assets (net)
+€162,952
Current investments
-€111,902
Cash 31-12-2025
€1.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,556,328 | €16,684,057 | +€127,729 | +0.8% |
| Fixed assets | 21/28 | €8,593,344 | €8,389,274 | -€204,070 | -2.4% |
| Tangible fixed assets | 22/27 | €460,002 | €416,699 | -€43,303 | -9.4% |
| Land and buildings | 22 | €355,496 | €335,498 | -€19,998 | -5.6% |
| Plant, machinery and equipment | 23 | - | €5,415 | +€5,415 | |
| Furniture and vehicles | 24 | €87,816 | €59,097 | -€28,719 | -32.7% |
| Other tangible fixed assets | 26 | €16,690 | €16,690 | = | 0.0% |
| Financial fixed assets | 28 | €8,133,342 | €7,972,575 | -€160,767 | -2.0% |
| Current assets | 29/58 | €7,962,985 | €8,294,783 | +€331,799 | +4.2% |
| Amounts receivable after more than one year | 29 | €3,375 | €0 | -€3,375 | -100% |
| Other amounts receivable | 291 | €3,375 | €0 | -€3,375 | -100% |
| Amounts receivable within one year | 40/41 | €935,376 | €1,163,512 | +€228,136 | +24.4% |
| Trade receivables | 40 | €9,887 | €117,352 | +€107,465 | +1,087% |
| Other amounts receivable | 41 | €925,489 | €1,046,160 | +€120,672 | +13.0% |
| Current investments | 50/53 | €5,725,547 | €5,837,449 | +€111,902 | +2.0% |
| Cash at bank and in hand | 54/58 | €1,254,357 | €1,265,045 | +€10,689 | +0.9% |
| Deferred charges and accrued income | 490/1 | €44,331 | €28,777 | -€15,553 | -35.1% |
| Total equity and liabilities | 10/49 | €16,556,328 | €16,684,057 | +€127,729 | +0.8% |
| Equity | 10/15 | €14,100,833 | €14,277,566 | +€176,734 | +1.3% |
| Contributions | 10/11 | €445,000 | €445,000 | = | 0.0% |
| Capital | 10 | €445,000 | €445,000 | = | 0.0% |
| Issued capital | 100 | €445,000 | €445,000 | = | 0.0% |
| Reserves | 13 | €13,655,833 | €13,832,566 | +€176,734 | +1.3% |
| Non-distributable reserves | 130/1 | €44,500 | €44,500 | = | 0.0% |
| Legal reserve | 130 | €44,500 | €44,500 | = | 0.0% |
| Distributable reserves | 133 | €13,611,333 | €13,788,066 | +€176,734 | +1.3% |
| Amounts payable | 17/49 | €2,455,496 | €2,406,491 | -€49,005 | -2.0% |
| Amounts payable within one year | 42/48 | €2,320,228 | €2,281,614 | -€38,614 | -1.7% |
| Trade debts | 44 | €153,170 | €147,056 | -€6,114 | -4.0% |
| Suppliers | 440/4 | €153,170 | €147,056 | -€6,114 | -4.0% |
| Taxes, remuneration and social security | 45 | €57,808 | €48,787 | -€9,021 | -15.6% |
| Taxes | 450/3 | €17,798 | €7,614 | -€10,183 | -57.2% |
| Remuneration and social security | 454/9 | €40,011 | €41,173 | +€1,162 | +2.9% |
| Other amounts payable | 47/48 | €2,109,249 | €2,085,771 | -€23,478 | -1.1% |
| Accrued charges and deferred income | 492/3 | €135,268 | €124,877 | -€10,391 | -7.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €189,974 | €185,134 | -€4,841 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,458 | €41,118 | -€340 | -0.8% |
| Other operating charges | 640/8 | €11,980 | €10,161 | -€1,819 | -15.2% |
| Gross operating margin | 9900 | €302,857 | €286,946 | -€15,911 | -5.3% |
| Operating profit (loss) | 9901 | €59,445 | €50,533 | -€8,912 | -15.0% |
| Financial income | 75/76B | €1,437,505 | €298,431 | -€1.1m | -79.2% |
| Recurring financial income | 75 | €1,437,505 | €298,431 | -€1.1m | -79.2% |
| Financial charges | 65/66B | €149,619 | €160,432 | +€10,813 | +7.2% |
| Recurring financial charges | 65 | €149,619 | €160,432 | +€10,813 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €1,347,331 | €188,532 | -€1.2m | -86.0% |
| Income taxes | 67/77 | €26,073 | €11,798 | -€14,275 | -54.7% |
| Profit (loss) for the period | 9904 | €1,321,258 | €176,734 | -€1.1m | -86.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,321,258 | €176,734 | -€1.1m | -86.6% |
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 22 October 2026 via checked.be.