GUELI: 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.
GUELI
Largest movements
- Cash -€12,264
down €12,264 (-61.7%), from €19,871 to €7,607
mainly Trade debts (-€8,539) and Debts after one year (-€5,209)
- Receivables within one year -€6,322
down €6,322 (-32.7%), from €19,337 to €13,015
of which Trade receivables: -€19,000
- Intangible fixed assets -€1,300
down €1,300 (-25.5%), from €5,090 to €3,790
- Stocks and contracts +€885
up €885 (+38.4%), from €2,305 to €3,190
- Tangible fixed assets +€828
up €828 (+4.4%), from €18,686 to €19,514
of which Furniture and vehicles: +€3,742
- Trade debts -€8,539
down €8,539 (-33.2%), from €25,713 to €17,174
- Debts after one year -€5,209
down €5,209 (-32.7%), from €15,944 to €10,735
- Profit (loss) carried forward -€2,783
down €2,783, from €2,315 to -€468
- Tax, wage and social debts -€1,233
down €1,233 (-9.7%), from €12,699 to €11,466
of which Remuneration and social security: -€2,467
- Other debts -€716
no longer reported in 2025 (was €716)
- Gross operating margin -€3,628
down €3,628 (-5.6%), from €64,987 to €61,359
- Staff costs +€3,018
up €3,018 (+5.6%), from €54,229 to €57,247
- Taxes -€1,221
down €1,221 (-70.2%), from €1,739 to €518
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 | €65,343 | €47,116 | -€18,227 | -27.9% |
| Fixed assets | 21/28 | €23,775 | €23,304 | -€471 | -2.0% |
| Intangible fixed assets | 21 | €5,090 | €3,790 | -€1,300 | -25.5% |
| Tangible fixed assets | 22/27 | €18,686 | €19,514 | +€828 | +4.4% |
| Plant, machinery and equipment | 23 | €7,919 | €6,224 | -€1,695 | -21.4% |
| Furniture and vehicles | 24 | - | €3,742 | +€3,742 | |
| Other tangible fixed assets | 26 | €10,766 | €9,548 | -€1,218 | -11.3% |
| Current assets | 29/58 | €41,568 | €23,812 | -€17,756 | -42.7% |
| Stocks and contracts in progress | 3 | €2,305 | €3,190 | +€885 | +38.4% |
| Stocks | 30/36 | €2,305 | €3,190 | +€885 | +38.4% |
| Amounts receivable within one year | 40/41 | €19,337 | €13,015 | -€6,322 | -32.7% |
| Trade receivables | 40 | €19,000 | - | -€19,000 | |
| Other amounts receivable | 41 | €337 | €13,015 | +€12,678 | +3,760% |
| Cash at bank and in hand | 54/58 | €19,871 | €7,607 | -€12,264 | -61.7% |
| Deferred charges and accrued income | 490/1 | €54 | - | -€54 | |
| Total equity and liabilities | 10/49 | €65,343 | €47,116 | -€18,227 | -27.9% |
| Equity | 10/15 | €5,315 | €2,532 | -€2,783 | -52.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,315 | -€468 | -€2,783 | |
| Amounts payable | 17/49 | €60,028 | €44,584 | -€15,444 | -25.7% |
| Amounts payable after more than one year | 17 | €15,944 | €10,735 | -€5,209 | -32.7% |
| Financial debts | 170/4 | €15,944 | €10,735 | -€5,209 | -32.7% |
| Amounts payable within one year | 42/48 | €44,085 | €33,849 | -€10,236 | -23.2% |
| Current portion of amounts payable after more than one year | 42 | €4,957 | €5,209 | +€252 | +5.1% |
| Trade debts | 44 | €25,713 | €17,174 | -€8,539 | -33.2% |
| Suppliers | 440/4 | €25,713 | €17,174 | -€8,539 | -33.2% |
| Taxes, remuneration and social security | 45 | €12,699 | €11,466 | -€1,233 | -9.7% |
| Taxes | 450/3 | €5,065 | €6,300 | +€1,235 | +24.4% |
| Remuneration and social security | 454/9 | €7,633 | €5,166 | -€2,467 | -32.3% |
| Other amounts payable | 47/48 | €716 | - | -€716 | |
| Remuneration, social security and pensions | 62 | €54,229 | €57,247 | +€3,018 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,117 | €5,133 | +€16 | +0.3% |
| Other operating charges | 640/8 | €145 | €225 | +€80 | +54.8% |
| Gross operating margin | 9900 | €64,987 | €61,359 | -€3,628 | -5.6% |
| Operating profit (loss) | 9901 | €5,495 | -€1,246 | -€6,741 | |
| Financial income | 75/76B | €309 | €342 | +€33 | +10.7% |
| Recurring financial income | 75 | €309 | €342 | +€33 | +10.7% |
| Financial charges | 65/66B | €1,750 | €1,361 | -€389 | -22.2% |
| Recurring financial charges | 65 | €1,750 | €1,361 | -€389 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €4,054 | -€2,265 | -€6,319 | |
| Income taxes | 67/77 | €1,739 | €518 | -€1,221 | -70.2% |
| Profit (loss) for the period | 9904 | €2,315 | -€2,783 | -€5,098 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,315 | -€2,783 | -€5,098 |
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 13 October 2026 via checked.be.