GUERBET: 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.
What changed
GUERBET
NACE 46.460, Wholesale of pharmaceutical and medical goods
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€800,918
2024 · €616,444+€184,475
Equity
€1.3m
2024 · €1.3m+€918
Cash
-
not filed
Balance sheet total
€3.5m
2024 · €4.3m-€808,673
Largest movements
Assets
- Receivables within one year -€835,085
down €835,085 (-20.7%), from €4.0m to €3.2m
of which Other amounts receivable: -€926,307
- Stocks and contracts +€62,006
up €62,006 (+157%), from €39,399 to €101,405
Equity and liabilities
- Trade debts -€603,978
down €603,978 (-47.0%), from €1.3m to €681,806
- Other debts -€402,078
down €402,078 (-33.3%), from €1.2m to €804,603
- Tax, wage and social debts +€233,685
up €233,685 (+62.7%), from €372,830 to €606,515
of which Taxes: +€275,244
Income statement
- Gross operating margin +€236,655
up €236,655 (+7.8%), from €3.0m to €3.3m
- Provisions -€159,259
down €159,259, from €123,339 to -€35,920
- Taxes +€99,807
up €99,807 (+45.0%), from €222,005 to €321,811
- Financial income -€47,674
down €47,674 (-67.1%), from €71,063 to €23,390
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.
Result 2024
€616,444
Gross operating margin
+€236,655
Staff costs
+€23,190
Depreciation
-€8,765
Write-downs
-€2,037
Provisions
+€159,259
Other operating charges
+€23,084
Other operating items
-€82,744
Financial income
-€47,674
Financial charges
-€16,686
Taxes
-€99,807
Result 2025
€800,918
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,260,623 | €3,451,950 | -€808,673 | -19.0% |
| Fixed assets | 21/28 | €170,229 | €143,986 | -€26,243 | -15.4% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €89,051 | €62,808 | -€26,243 | -29.5% |
| Plant, machinery and equipment | 23 | €18,323 | €9,481 | -€8,842 | -48.3% |
| Furniture and vehicles | 24 | €70,728 | €53,326 | -€17,402 | -24.6% |
| Financial fixed assets | 28 | €81,178 | €81,178 | = | 0.0% |
| Current assets | 29/58 | €4,090,394 | €3,307,965 | -€782,429 | -19.1% |
| Stocks and contracts in progress | 3 | €39,399 | €101,405 | +€62,006 | +157% |
| Stocks | 30/36 | €39,399 | €101,405 | +€62,006 | +157% |
| Amounts receivable within one year | 40/41 | €4,035,490 | €3,200,405 | -€835,085 | -20.7% |
| Trade receivables | 40 | €2,357,565 | €2,448,787 | +€91,222 | +3.9% |
| Other amounts receivable | 41 | €1,677,925 | €751,618 | -€926,307 | -55.2% |
| Deferred charges and accrued income | 490/1 | €15,505 | €6,155 | -€9,350 | -60.3% |
| Total equity and liabilities | 10/49 | €4,260,623 | €3,451,950 | -€808,673 | -19.0% |
| Equity | 10/15 | €1,257,970 | €1,258,888 | +€918 | +0.1% |
| Contributions | 10/11 | €541,000 | €541,000 | = | 0.0% |
| Capital | 10 | €541,000 | €541,000 | = | 0.0% |
| Issued capital | 100 | €541,000 | €541,000 | = | 0.0% |
| Reserves | 13 | €715,447 | €715,447 | = | 0.0% |
| Non-distributable reserves | 130/1 | €63,486 | €63,486 | = | 0.0% |
| Legal reserve | 130 | €54,100 | €54,100 | = | 0.0% |
| Other | 1319 | €9,386 | €9,386 | = | 0.0% |
| Distributable reserves | 133 | €651,961 | €651,961 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,523 | €2,442 | +€918 | +60.3% |
| Provisions and deferred taxes | 16 | €123,339 | €87,420 | -€35,920 | -29.1% |
| Provisions for liabilities and charges | 160/5 | €123,339 | €87,420 | -€35,920 | -29.1% |
| Other liabilities and charges | 164/5 | €123,339 | €87,420 | -€35,920 | -29.1% |
| Amounts payable | 17/49 | €2,879,314 | €2,105,642 | -€773,671 | -26.9% |
| Amounts payable within one year | 42/48 | €2,865,295 | €2,092,924 | -€772,371 | -27.0% |
| Trade debts | 44 | €1,285,784 | €681,806 | -€603,978 | -47.0% |
| Suppliers | 440/4 | €1,285,784 | €681,806 | -€603,978 | -47.0% |
| Taxes, remuneration and social security | 45 | €372,830 | €606,515 | +€233,685 | +62.7% |
| Taxes | 450/3 | €134,608 | €409,852 | +€275,244 | +204% |
| Remuneration and social security | 454/9 | €238,222 | €196,663 | -€41,559 | -17.4% |
| Other amounts payable | 47/48 | €1,206,681 | €804,603 | -€402,078 | -33.3% |
| Accrued charges and deferred income | 492/3 | €14,019 | €12,718 | -€1,301 | -9.3% |
| Remuneration, social security and pensions | 62 | €1,104,518 | €1,081,328 | -€23,190 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,479 | €26,243 | +€8,765 | +50.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€325 | €1,712 | +€2,037 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €123,339 | -€35,920 | -€159,259 | |
| Other operating charges | 640/8 | €994,090 | €971,006 | -€23,084 | -2.3% |
| Non-recurring operating charges | 66A | - | €82,744 | +€82,744 | |
| Gross operating margin | 9900 | €3,016,767 | €3,253,422 | +€236,655 | +7.8% |
| Operating profit (loss) | 9901 | €777,666 | €1,126,308 | +€348,641 | +44.8% |
| Financial income | 75/76B | €71,063 | €23,390 | -€47,674 | -67.1% |
| Recurring financial income | 75 | €71,063 | €23,390 | -€47,674 | -67.1% |
| Financial charges | 65/66B | €10,282 | €26,968 | +€16,686 | +162% |
| Recurring financial charges | 65 | €10,282 | €26,968 | +€16,686 | +162% |
| Profit (loss) for the period before taxes | 9903 | €838,448 | €1,122,730 | +€284,282 | +33.9% |
| Income taxes | 67/77 | €222,005 | €321,811 | +€99,807 | +45.0% |
| Profit (loss) for the period | 9904 | €616,444 | €800,918 | +€184,475 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €616,444 | €800,918 | +€184,475 | +29.9% |
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 27 October 2026 via checked.be.