GUEL & CO: 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.
GUEL & CO
Largest movements
- Cash -€95,043
down €95,043 (-39.1%), from €243,266 to €148,223
mainly Other debts (-€148,247) and Trade debts (-€2,073)
- Tangible fixed assets -€6,829
down €6,829 (-38.7%), from €17,651 to €10,822
- Other debts -€148,247
down €148,247 (-98.7%), from €150,125 to €1,878
- Reserves +€41,450
up €41,450 (+53.2%), from €77,860 to €119,310
- Tax, wage and social debts +€5,138
up €5,138 (+32.4%), from €15,884 to €21,022
- Gross operating margin -€135,651
down €135,651 (-65.9%), from €205,816 to €70,165
- Taxes -€29,544
down €29,544 (-58.0%), from €50,907 to €21,363
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 | €265,201 | €160,834 | -€104,367 | -39.4% |
| Fixed assets | 21/28 | €17,743 | €10,914 | -€6,829 | -38.5% |
| Tangible fixed assets | 22/27 | €17,651 | €10,822 | -€6,829 | -38.7% |
| Furniture and vehicles | 24 | €17,651 | €10,822 | -€6,829 | -38.7% |
| Financial fixed assets | 28 | €92 | €92 | = | 0.0% |
| Current assets | 29/58 | €247,458 | €149,920 | -€97,538 | -39.4% |
| Amounts receivable within one year | 40/41 | €2,625 | €1,109 | -€1,516 | -57.8% |
| Trade receivables | 40 | €1,493 | - | -€1,493 | |
| Other amounts receivable | 41 | €1,132 | €1,109 | -€23 | -2.0% |
| Cash at bank and in hand | 54/58 | €243,266 | €148,223 | -€95,043 | -39.1% |
| Deferred charges and accrued income | 490/1 | €1,567 | €588 | -€979 | -62.5% |
| Total equity and liabilities | 10/49 | €265,201 | €160,834 | -€104,367 | -39.4% |
| Equity | 10/15 | €97,096 | €137,910 | +€40,814 | +42.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €77,860 | €119,310 | +€41,450 | +53.2% |
| Distributable reserves | 133 | €77,860 | €119,310 | +€41,450 | +53.2% |
| Profit (loss) carried forward | 14 | €636 | - | -€636 | |
| Amounts payable | 17/49 | €168,105 | €22,924 | -€145,181 | -86.4% |
| Amounts payable within one year | 42/48 | €168,105 | €22,924 | -€145,181 | -86.4% |
| Trade debts | 44 | €2,096 | €24 | -€2,073 | -98.9% |
| Suppliers | 440/4 | €2,096 | €24 | -€2,073 | -98.9% |
| Taxes, remuneration and social security | 45 | €15,884 | €21,022 | +€5,138 | +32.4% |
| Taxes | 450/3 | €15,884 | €21,022 | +€5,138 | +32.4% |
| Other amounts payable | 47/48 | €150,125 | €1,878 | -€148,247 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,861 | €6,829 | -€33 | -0.5% |
| Other operating charges | 640/8 | €789 | €844 | +€54 | +6.9% |
| Gross operating margin | 9900 | €205,816 | €70,165 | -€135,651 | -65.9% |
| Operating profit (loss) | 9901 | €198,165 | €62,493 | -€135,672 | -68.5% |
| Financial income | 75/76B | €11 | €0 | -€11 | -96.7% |
| Recurring financial income | 75 | €11 | €0 | -€11 | -96.7% |
| Financial charges | 65/66B | €193 | €316 | +€122 | +63.3% |
| Recurring financial charges | 65 | €193 | €316 | +€122 | +63.3% |
| Profit (loss) for the period before taxes | 9903 | €197,982 | €62,177 | -€135,805 | -68.6% |
| Income taxes | 67/77 | €50,907 | €21,363 | -€29,544 | -58.0% |
| Profit (loss) for the period | 9904 | €147,075 | €40,814 | -€106,261 | -72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €147,075 | €40,814 | -€106,261 | -72.2% |
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 26 October 2026 via checked.be.