Gudrun Hespel: what changed
What changed
Gudrun Hespel
NACE 85.510, Sports and recreation education
filed annual accounts (NBB)
Net result for the year
-€253,096
2024 · -€27,015-€226,081
Equity
€191,529
2024 · €444,626-€253,096
Cash
€54,090
2024 · €48,309+€5,781
Balance sheet total
€365,876
2024 · €875,372-€509,496
Largest movements
Assets
- Tangible fixed assets -€445,981
down €445,981 (-92.2%), from €483,595 to €37,614
of which Land and buildings: -€443,553
- Receivables within one year -€69,296
down €69,296 (-20.2%), from €343,468 to €274,172
of which Other amounts receivable: -€60,809
Equity and liabilities
- Profit (loss) carried forward -€253,096
down €253,096, from €43,692 to -€209,404
- Debts after one year -€185,625
down €185,625 (-65.0%), from €285,625 to €100,000
- Current portion of long-term debt -€23,019
down €23,019 (-100%), from €23,019 to €0
- Accrued charges and deferred income -€21,652
down €21,652 (-100%), from €21,652 to €0
- Trade debts -€18,760
down €18,760 (-86.3%), from €21,732 to €2,972
Income statement
- Gross operating margin -€42,619
down €42,619, from €20,078 to -€22,542
- Depreciation -€20,717
down €20,717 (-85.0%), from €24,379 to €3,663
- Financial income +€11,423
up €11,423 (+813%), from €1,405 to €12,828
- Other operating charges -€8,477
down €8,477 (-51.6%), from €16,412 to €7,936
- Staff costs -€3,009
down €3,009 (-100%), from €3,009 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€27,015
Gross operating margin
-€42,619
Staff costs
+€3,009
Depreciation
+€20,717
Other operating charges
+€8,477
Other operating items
-€229,081
Financial income
+€11,423
Financial charges
+€2,279
Taxes
-€284
Result 2025
-€253,096
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€227,893
Investment
+€442,318
Financing
-€208,645
Cash 2024
€48,309
From operations (derived)
-€227,893
Net result for the year
-€253,096
Depreciation
+€3,663
Receivables within one year
+€69,296
Trade debts
-€18,760
Tax, wage and social debts
-€2,937
Other debts
-€4,406
Accrued charges and deferred income
-€21,652
Investment (derived)
+€442,318
Investment in fixed assets (net)
+€442,318
Financing
-€208,645
Debts after one year
-€185,625
Current portion of long-term debt
-€23,019
Cash 2025
€54,090
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €875,372 | €365,876 | -€509,496 | -58.2% |
| Fixed assets | 21/28 | €483,595 | €37,614 | -€445,981 | -92.2% |
| Tangible fixed assets | 22/27 | €483,595 | €37,614 | -€445,981 | -92.2% |
| Land and buildings | 22 | €479,641 | €36,088 | -€443,553 | -92.5% |
| Furniture and vehicles | 24 | €3,954 | €1,526 | -€2,428 | -61.4% |
| Current assets | 29/58 | €391,777 | €328,262 | -€63,515 | -16.2% |
| Amounts receivable within one year | 40/41 | €343,468 | €274,172 | -€69,296 | -20.2% |
| Trade receivables | 40 | €20,091 | €11,604 | -€8,487 | -42.2% |
| Other amounts receivable | 41 | €323,377 | €262,568 | -€60,809 | -18.8% |
| Cash at bank and in hand | 54/58 | €48,309 | €54,090 | +€5,781 | +12.0% |
| Total equity and liabilities | 10/49 | €875,372 | €365,876 | -€509,496 | -58.2% |
| Equity | 10/15 | €444,626 | €191,529 | -€253,096 | -56.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €380,933 | €380,933 | = | 0.0% |
| Distributable reserves | 133 | €380,933 | €380,933 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,692 | -€209,404 | -€253,096 | |
| Amounts payable | 17/49 | €430,746 | €174,347 | -€256,400 | -59.5% |
| Amounts payable after more than one year | 17 | €285,625 | €100,000 | -€185,625 | -65.0% |
| Financial debts | 170/4 | €285,625 | €100,000 | -€185,625 | -65.0% |
| Amounts payable within one year | 42/48 | €123,469 | €74,347 | -€49,123 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €23,019 | €0 | -€23,019 | -100% |
| Trade debts | 44 | €21,732 | €2,972 | -€18,760 | -86.3% |
| Suppliers | 440/4 | €21,732 | €2,972 | -€18,760 | -86.3% |
| Taxes, remuneration and social security | 45 | €8,455 | €5,517 | -€2,937 | -34.7% |
| Taxes | 450/3 | €8,455 | €5,517 | -€2,937 | -34.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €70,263 | €65,857 | -€4,406 | -6.3% |
| Accrued charges and deferred income | 492/3 | €21,652 | €0 | -€21,652 | -100% |
| Remuneration, social security and pensions | 62 | €3,009 | €0 | -€3,009 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,379 | €3,663 | -€20,717 | -85.0% |
| Other operating charges | 640/8 | €16,412 | €7,936 | -€8,477 | -51.6% |
| Non-recurring operating charges | 66A | - | €229,081 | +€229,081 | |
| Gross operating margin | 9900 | €20,078 | -€22,542 | -€42,619 | |
| Operating profit (loss) | 9901 | -€23,723 | -€263,221 | -€239,498 | -1,010% |
| Financial income | 75/76B | €1,405 | €12,828 | +€11,423 | +813% |
| Recurring financial income | 75 | €1,405 | €12,828 | +€11,423 | +813% |
| Financial charges | 65/66B | €4,525 | €2,247 | -€2,279 | -50.4% |
| Recurring financial charges | 65 | €4,525 | €2,247 | -€2,279 | -50.4% |
| Profit (loss) for the period before taxes | 9903 | -€26,843 | -€252,640 | -€225,797 | -841% |
| Income taxes | 67/77 | €172 | €456 | +€284 | +166% |
| Profit (loss) for the period | 9904 | -€27,015 | -€253,096 | -€226,081 | -837% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,015 | -€253,096 | -€226,081 | -837% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.