Guerman Pascal: what changed
Guerman Pascal
Largest movements
- Cash -€27,281
down €27,281 (-92.3%), from €29,545 to €2,264
mainly Net result for the year (-€37,192) and Debts after one year (-€5,781)
- Tangible fixed assets -€8,711
down €8,711 (-16.6%), from €52,585 to €43,874
of which Furniture and vehicles: -€6,776
- Receivables within one year -€1,403
down €1,403 (-57.3%), from €2,448 to €1,045
of which Other amounts receivable: -€1,108
- Profit (loss) carried forward -€37,192
down €37,192 (-68.2%), from -€54,561 to -€91,752
- Debts after one year -€5,781
down €5,781 (-23.7%), from €24,423 to €18,643
- Trade debts +€4,307
up €4,307 (+142%), from €3,028 to €7,335
- Other debts +€1,146
up €1,146 (+19.8%), from €5,793 to €6,939
- Gross operating margin -€26,957
down €26,957, from €884 to -€26,073
- Depreciation +€6,480
up €6,480 (+290%), from €2,231 to €8,711
- Other operating charges -€559
down €559 (-53.8%), from €1,040 to €481
- Financial charges +€459
up €459 (+34.6%), from €1,327 to €1,786
- Taxes -€268
down €268 (-65.6%), from €409 to €141
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,578 | €47,183 | -€37,395 | -44.2% |
| Fixed assets | 21/28 | €52,585 | €43,874 | -€8,711 | -16.6% |
| Tangible fixed assets | 22/27 | €52,585 | €43,874 | -€8,711 | -16.6% |
| Land and buildings | 22 | €19,001 | €17,067 | -€1,935 | -10.2% |
| Furniture and vehicles | 24 | €33,584 | €26,808 | -€6,776 | -20.2% |
| Current assets | 29/58 | €31,993 | €3,309 | -€28,684 | -89.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,448 | €1,045 | -€1,403 | -57.3% |
| Trade receivables | 40 | €1,030 | €735 | -€295 | -28.6% |
| Other amounts receivable | 41 | €1,418 | €310 | -€1,108 | -78.1% |
| Cash at bank and in hand | 54/58 | €29,545 | €2,264 | -€27,281 | -92.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €84,578 | €47,183 | -€37,395 | -44.2% |
| Equity | 10/15 | €44,670 | €7,478 | -€37,192 | -83.3% |
| Contributions | 10/11 | €12,476 | €12,476 | = | 0.0% |
| Reserves | 13 | €86,755 | €86,755 | = | 0.0% |
| Distributable reserves | 133 | €86,755 | €86,755 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,561 | -€91,752 | -€37,192 | -68.2% |
| Amounts payable | 17/49 | €39,908 | €39,705 | -€203 | -0.5% |
| Amounts payable after more than one year | 17 | €24,423 | €18,643 | -€5,781 | -23.7% |
| Financial debts | 170/4 | €24,423 | €18,643 | -€5,781 | -23.7% |
| Amounts payable within one year | 42/48 | €15,242 | €20,604 | +€5,362 | +35.2% |
| Current portion of amounts payable after more than one year | 42 | €5,577 | €5,781 | +€204 | +3.7% |
| Trade debts | 44 | €3,028 | €7,335 | +€4,307 | +142% |
| Suppliers | 440/4 | €3,028 | €7,335 | +€4,307 | +142% |
| Taxes, remuneration and social security | 45 | €844 | €550 | -€295 | -34.9% |
| Taxes | 450/3 | €844 | €550 | -€295 | -34.9% |
| Other amounts payable | 47/48 | €5,793 | €6,939 | +€1,146 | +19.8% |
| Accrued charges and deferred income | 492/3 | €243 | €458 | +€215 | +88.8% |
| Non-recurring operating income | 76A | €5,785 | €0 | -€5,785 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,231 | €8,711 | +€6,480 | +290% |
| Other operating charges | 640/8 | €1,040 | €481 | -€559 | -53.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €884 | -€26,073 | -€26,957 | |
| Operating profit (loss) | 9901 | -€2,387 | -€35,264 | -€32,878 | -1,378% |
| Financial income | 75/76B | €0 | €0 | -€0 | -96.2% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -96.2% |
| Financial charges | 65/66B | €1,327 | €1,786 | +€459 | +34.6% |
| Recurring financial charges | 65 | €1,327 | €1,786 | +€459 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,714 | -€37,051 | -€33,337 | -898% |
| Income taxes | 67/77 | €409 | €141 | -€268 | -65.6% |
| Profit (loss) for the period | 9904 | -€4,123 | -€37,192 | -€33,069 | -802% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,123 | -€37,192 | -€33,069 | -802% |
Next steps
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 8 November 2026 via checked.be.