GUEMMENARO: 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.
GUEMMENARO
Largest movements
- Receivables within one year +€70,515
up €70,515 (+27.7%), from €254,995 to €325,510
of which Other amounts receivable: +€69,139
- Tangible fixed assets -€44,013
down €44,013 (-19.0%), from €231,773 to €187,760
- Cash +€7,294
up €7,294 (+2805.4%), from €260 to €7,554
mainly Tax, wage and social debts (+€67,016) and Depreciation (+€51,755)
- Tax, wage and social debts +€67,016
up €67,016 (+76.6%), from €87,527 to €154,543
of which Taxes: +€67,016
- Current portion of long-term debt -€21,434
down €21,434 (-83.4%), from €25,697 to €4,263
- Trade debts -€21,030
down €21,030 (-24.0%), from €87,558 to €66,528
- Reserves +€11,901
up €11,901 (+27.7%), from €42,959 to €54,860
of which Distributable reserves: +€25,600
- Gross operating margin +€84,319
up €84,319 (+96.8%), from €87,092 to €171,411
- Staff costs -€27,264
no longer reported in 2025 (was €27,264)
- Other operating charges -€14,687
down €14,687 (-100.0%), from €14,690 to €3
- Taxes +€10,671
up €10,671 (+564.9%), from €1,889 to €12,560
- Depreciation -€4,575
down €4,575 (-8.1%), from €56,330 to €51,755
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 | €518,837 | €552,633 | +€33,796 | +6.5% |
| Fixed assets | 21/28 | €240,075 | €196,062 | -€44,013 | -18.3% |
| Tangible fixed assets | 22/27 | €231,773 | €187,760 | -€44,013 | -19.0% |
| Land and buildings | 22 | €99,246 | €99,246 | = | 0.0% |
| Plant, machinery and equipment | 23 | €62,502 | €47,255 | -€15,247 | -24.4% |
| Furniture and vehicles | 24 | €57,431 | €41,259 | -€16,172 | -28.2% |
| Other tangible fixed assets | 26 | €12,594 | - | -€12,594 | |
| Financial fixed assets | 28 | €8,302 | €8,302 | = | 0.0% |
| Current assets | 29/58 | €278,762 | €356,571 | +€77,809 | +27.9% |
| Amounts receivable within one year | 40/41 | €254,995 | €325,510 | +€70,515 | +27.7% |
| Trade receivables | 40 | €142,335 | €143,711 | +€1,376 | +1.0% |
| Other amounts receivable | 41 | €112,660 | €181,799 | +€69,139 | +61.4% |
| Cash at bank and in hand | 54/58 | €260 | €7,554 | +€7,294 | +2805.4% |
| Deferred charges and accrued income | 490/1 | €23,507 | €23,507 | = | 0.0% |
| Total equity and liabilities | 10/49 | €518,837 | €552,633 | +€33,796 | +6.5% |
| Equity | 10/15 | €149,325 | €161,309 | +€11,984 | +8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,959 | €54,860 | +€11,901 | +27.7% |
| Tax-exempt reserves | 132 | €41,099 | €27,400 | -€13,699 | -33.3% |
| Distributable reserves | 133 | €1,860 | €27,460 | +€25,600 | +1376.3% |
| Profit (loss) carried forward | 14 | €87,766 | €87,849 | +€83 | +0.1% |
| Provisions and deferred taxes | 16 | €8,220 | €5,480 | -€2,740 | -33.3% |
| Deferred taxes | 168 | €8,220 | €5,480 | -€2,740 | -33.3% |
| Amounts payable | 17/49 | €361,292 | €385,844 | +€24,552 | +6.8% |
| Amounts payable after more than one year | 17 | €135,510 | €135,510 | = | 0.0% |
| Financial debts | 170/4 | €135,510 | €135,510 | = | 0.0% |
| Amounts payable within one year | 42/48 | €225,782 | €250,334 | +€24,552 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €25,697 | €4,263 | -€21,434 | -83.4% |
| Trade debts | 44 | €87,558 | €66,528 | -€21,030 | -24.0% |
| Suppliers | 440/4 | €87,558 | €66,528 | -€21,030 | -24.0% |
| Advances received on contracts in progress | 46 | €25,000 | €25,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €87,527 | €154,543 | +€67,016 | +76.6% |
| Taxes | 450/3 | €82,006 | €149,022 | +€67,016 | +81.7% |
| Remuneration and social security | 454/9 | €5,521 | €5,521 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €27,264 | - | -€27,264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,330 | €51,755 | -€4,575 | -8.1% |
| Other operating charges | 640/8 | €14,690 | €3 | -€14,687 | -100.0% |
| Non-recurring operating charges | 66A | €1,866 | €97,615 | +€95,749 | +5131.2% |
| Gross operating margin | 9900 | €87,092 | €171,411 | +€84,319 | +96.8% |
| Operating profit (loss) | 9901 | -€13,058 | €22,038 | +€35,096 | |
| Financial income | 75/76B | - | €0 | = | |
| Recurring financial income | 75 | - | €0 | = | |
| Financial charges | 65/66B | €350 | €235 | -€115 | -32.9% |
| Recurring financial charges | 65 | €350 | €235 | -€115 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,408 | €21,803 | +€35,211 | |
| Transfer from deferred taxes | 780 | €2,740 | €2,740 | = | 0.0% |
| Income taxes | 67/77 | €1,889 | €12,560 | +€10,671 | +564.9% |
| Profit (loss) for the period | 9904 | -€12,557 | €11,983 | +€24,540 | |
| Transfer from tax-exempt reserves | 789 | €13,700 | €13,700 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,143 | €25,683 | +€24,540 | +2147.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.