GUDENT: 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.
GUDENT
Largest movements
- Current investments +€104,270
up €104,270 (+5.6%), from €1.9m to €2.0m
- Cash +€37,948
up €37,948 (+12.9%), from €293,214 to €331,162
mainly Net result for the year (+€152,169) and Receivables within one year (+€12,025)
- Reserves +€152,169
up €152,169 (+7.4%), from €2.1m to €2.2m
of which Distributable reserves: +€152,169
- Other debts -€29,863
down €29,863 (-91.7%), from €32,582 to €2,719
- Gross operating margin +€61,035
up €61,035 (+54.5%), from €112,054 to €173,089
- Taxes +€30,503
up €30,503 (+75.4%), from €40,458 to €70,961
- Financial income +€28,727
up €28,727 (+82.6%), from €34,793 to €63,519
- Financial charges -€26,609
down €26,609 (-92.6%), from €28,750 to €2,140
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.
Cash bridge derived
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 | €2,173,584 | €2,303,675 | +€130,091 | +6.0% |
| Current assets | 29/58 | €2,173,584 | €2,303,675 | +€130,091 | +6.0% |
| Amounts receivable within one year | 40/41 | €23,487 | €11,462 | -€12,025 | -51.2% |
| Trade receivables | 40 | - | €8 | +€8 | |
| Other amounts receivable | 41 | €23,487 | €11,455 | -€12,033 | -51.2% |
| Current investments | 50/53 | €1,856,469 | €1,960,739 | +€104,270 | +5.6% |
| Cash at bank and in hand | 54/58 | €293,214 | €331,162 | +€37,948 | +12.9% |
| Deferred charges and accrued income | 490/1 | €413 | €312 | -€101 | -24.5% |
| Total equity and liabilities | 10/49 | €2,173,584 | €2,303,675 | +€130,091 | +6.0% |
| Equity | 10/15 | €2,141,002 | €2,293,171 | +€152,169 | +7.1% |
| Contributions | 10/11 | €71,889 | €71,889 | = | 0.0% |
| Capital | 10 | €71,889 | €71,889 | = | 0.0% |
| Issued capital | 100 | €71,889 | €71,889 | = | 0.0% |
| Reserves | 13 | €2,069,113 | €2,221,282 | +€152,169 | +7.4% |
| Non-distributable reserves | 130/1 | €7,189 | €7,189 | = | 0.0% |
| Legal reserve | 130 | €7,189 | €7,189 | = | 0.0% |
| Distributable reserves | 133 | €2,061,924 | €2,214,093 | +€152,169 | +7.4% |
| Amounts payable | 17/49 | €32,582 | €10,504 | -€22,078 | -67.8% |
| Amounts payable within one year | 42/48 | €32,582 | €10,504 | -€22,078 | -67.8% |
| Taxes, remuneration and social security | 45 | - | €7,785 | +€7,785 | |
| Taxes | 450/3 | - | €7,785 | +€7,785 | |
| Other amounts payable | 47/48 | €32,582 | €2,719 | -€29,863 | -91.7% |
| Other operating charges | 640/8 | €1,915 | €3,463 | +€1,548 | +80.9% |
| Non-recurring operating charges | 66A | - | €7,875 | +€7,875 | |
| Gross operating margin | 9900 | €112,054 | €173,089 | +€61,035 | +54.5% |
| Operating profit (loss) | 9901 | €110,139 | €161,751 | +€51,612 | +46.9% |
| Financial income | 75/76B | €34,793 | €63,519 | +€28,727 | +82.6% |
| Recurring financial income | 75 | €34,793 | €63,519 | +€28,727 | +82.6% |
| Financial charges | 65/66B | €28,750 | €2,140 | -€26,609 | -92.6% |
| Recurring financial charges | 65 | €28,750 | €2,140 | -€26,609 | -92.6% |
| Profit (loss) for the period before taxes | 9903 | €116,182 | €223,130 | +€106,947 | +92.1% |
| Income taxes | 67/77 | €40,458 | €70,961 | +€30,503 | +75.4% |
| Profit (loss) for the period | 9904 | €75,724 | €152,169 | +€76,445 | +101.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,724 | €152,169 | +€76,445 | +101.0% |
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 12 October 2026 via checked.be.