GUDI: 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.
GUDI
Largest movements
- Tangible fixed assets +€218,932
up €218,932 (+15.2%), from €1.4m to €1.7m
of which Land and buildings: +€221,128
- Debts after one year +€245,924
up €245,924 (+52.9%), from €464,549 to €710,473
- Advances received -€41,250
no longer reported in 2025 (was €41,250)
- Other operating charges +€30,587
up €30,587 (+273%), from €11,202 to €41,788
- Gross operating margin +€18,356
up €18,356 (+17.8%), from €103,066 to €121,422
- Financial charges +€8,503
up €8,503 (+75.9%), from €11,202 to €19,705
- Taxes -€5,018
down €5,018 (-44.9%), from €11,170 to €6,153
- Depreciation -€3,027
down €3,027 (-7.4%), from €41,089 to €38,063
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 | €1,480,055 | €1,715,299 | +€235,244 | +15.9% |
| Formation expenses | 20 | €992 | €992 | = | 0.0% |
| Fixed assets | 21/28 | €1,437,211 | €1,656,142 | +€218,932 | +15.2% |
| Tangible fixed assets | 22/27 | €1,437,211 | €1,656,142 | +€218,932 | +15.2% |
| Land and buildings | 22 | €774,770 | €995,898 | +€221,128 | +28.5% |
| Plant, machinery and equipment | 23 | €181 | - | -€181 | |
| Furniture and vehicles | 24 | €10,983 | €8,967 | -€2,016 | -18.4% |
| Other tangible fixed assets | 26 | €651,277 | €651,277 | = | 0.0% |
| Current assets | 29/58 | €41,852 | €58,165 | +€16,312 | +39.0% |
| Amounts receivable within one year | 40/41 | €2,000 | €8,580 | +€6,580 | +329% |
| Other amounts receivable | 41 | €2,000 | €8,580 | +€6,580 | +329% |
| Cash at bank and in hand | 54/58 | €34,970 | €46,478 | +€11,509 | +32.9% |
| Deferred charges and accrued income | 490/1 | €4,883 | €3,107 | -€1,776 | -36.4% |
| Total equity and liabilities | 10/49 | €1,480,055 | €1,715,299 | +€235,244 | +15.9% |
| Equity | 10/15 | €547,225 | €563,102 | +€15,878 | +2.9% |
| Contributions | 10/11 | €355,000 | €355,000 | = | 0.0% |
| Reserves | 13 | €192,225 | €208,102 | +€15,878 | +8.3% |
| Distributable reserves | 133 | €192,225 | €208,102 | +€15,878 | +8.3% |
| Amounts payable | 17/49 | €932,830 | €1,152,196 | +€219,366 | +23.5% |
| Amounts payable after more than one year | 17 | €464,549 | €710,473 | +€245,924 | +52.9% |
| Financial debts | 170/4 | €464,549 | €710,473 | +€245,924 | +52.9% |
| Amounts payable within one year | 42/48 | €466,951 | €440,394 | -€26,557 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €37,526 | €52,397 | +€14,870 | +39.6% |
| Trade debts | 44 | €865 | €363 | -€502 | -58.1% |
| Suppliers | 440/4 | €865 | €363 | -€502 | -58.1% |
| Advances received on contracts in progress | 46 | €41,250 | - | -€41,250 | |
| Other amounts payable | 47/48 | €387,310 | €387,634 | +€324 | +0.1% |
| Accrued charges and deferred income | 492/3 | €1,330 | €1,330 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,089 | €38,063 | -€3,027 | -7.4% |
| Other operating charges | 640/8 | €11,202 | €41,788 | +€30,587 | +273% |
| Gross operating margin | 9900 | €103,066 | €121,422 | +€18,356 | +17.8% |
| Operating profit (loss) | 9901 | €50,775 | €41,571 | -€9,204 | -18.1% |
| Financial income | 75/76B | €95 | €165 | +€70 | +73.9% |
| Recurring financial income | 75 | €95 | €165 | +€70 | +73.9% |
| Financial charges | 65/66B | €11,202 | €19,705 | +€8,503 | +75.9% |
| Recurring financial charges | 65 | €11,202 | €19,705 | +€8,503 | +75.9% |
| Profit (loss) for the period before taxes | 9903 | €39,668 | €22,030 | -€17,638 | -44.5% |
| Income taxes | 67/77 | €11,170 | €6,153 | -€5,018 | -44.9% |
| Profit (loss) for the period | 9904 | €28,497 | €15,878 | -€12,620 | -44.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,497 | €15,878 | -€12,620 | -44.3% |
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.