Guerrero Alejandro: 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.
Guerrero Alejandro
Largest movements
- Tangible fixed assets -€45,017
down €45,017 (-13.8%), from €327,330 to €282,313
- Receivables within one year +€21,932
up €21,932 (+3.7%), from €597,719 to €619,651
of which Other amounts receivable: +€18,031
- Deferred charges and accrued income -€14,414
no longer reported in 2025 (was €14,414)
- Debts after one year -€55,725
down €55,725 (-27.3%), from €204,379 to €148,654
- Profit (loss) carried forward +€31,346
up €31,346 (+200%), from €15,699 to €47,044
- Current portion of long-term debt -€28,695
down €28,695 (-60.4%), from €47,544 to €18,849
- Trade debts +€12,450
up €12,450 (+113%), from €11,001 to €23,450
- Gross operating margin +€27,580
up €27,580 (+11,853%), from €233 to €27,813
- Depreciation -€24,621
no longer reported in 2025 (was €24,621)
- Other operating charges +€21,248
up €21,248 (+10,814%), from €196 to €21,445
- Taxes +€6,698
up €6,698 (+377%), from €1,778 to €8,475
- Financial income +€2,288
up €2,288 (+7.6%), from €29,958 to €32,246
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €941,673 | €907,937 | -€33,736 | -3.6% |
| Fixed assets | 21/28 | €327,330 | €282,313 | -€45,017 | -13.8% |
| Tangible fixed assets | 22/27 | €327,330 | €282,313 | -€45,017 | -13.8% |
| Land and buildings | 22 | €289,047 | €270,885 | -€18,162 | -6.3% |
| Furniture and vehicles | 24 | €2,250 | €750 | -€1,500 | -66.7% |
| Leasing and similar rights | 25 | €19,719 | - | -€19,719 | |
| Other tangible fixed assets | 26 | €16,314 | €10,678 | -€5,636 | -34.5% |
| Current assets | 29/58 | €614,343 | €625,624 | +€11,281 | +1.8% |
| Amounts receivable within one year | 40/41 | €597,719 | €619,651 | +€21,932 | +3.7% |
| Trade receivables | 40 | €17,322 | €21,222 | +€3,900 | +22.5% |
| Other amounts receivable | 41 | €580,398 | €598,429 | +€18,031 | +3.1% |
| Cash at bank and in hand | 54/58 | €2,210 | €5,973 | +€3,763 | +170% |
| Deferred charges and accrued income | 490/1 | €14,414 | - | -€14,414 | |
| Total equity and liabilities | 10/49 | €941,673 | €907,937 | -€33,736 | -3.6% |
| Equity | 10/15 | €674,222 | €705,567 | +€31,346 | +4.6% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €645,523 | €645,523 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €643,663 | €643,663 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,699 | €47,044 | +€31,346 | +200% |
| Amounts payable | 17/49 | €267,451 | €202,370 | -€65,081 | -24.3% |
| Amounts payable after more than one year | 17 | €204,379 | €148,654 | -€55,725 | -27.3% |
| Financial debts | 170/4 | €204,379 | €148,654 | -€55,725 | -27.3% |
| Amounts payable within one year | 42/48 | €63,072 | €53,716 | -€9,356 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €47,544 | €18,849 | -€28,695 | -60.4% |
| Trade debts | 44 | €11,001 | €23,450 | +€12,450 | +113% |
| Suppliers | 440/4 | €11,001 | €23,450 | +€12,450 | +113% |
| Taxes, remuneration and social security | 45 | €4,528 | €11,417 | +€6,889 | +152% |
| Taxes | 450/3 | €4,528 | €11,417 | +€6,889 | +152% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,621 | - | -€24,621 | |
| Other operating charges | 640/8 | €196 | €21,445 | +€21,248 | +10,814% |
| Gross operating margin | 9900 | €233 | €27,813 | +€27,580 | +11,853% |
| Operating profit (loss) | 9901 | -€24,585 | €6,368 | +€30,953 | |
| Financial income | 75/76B | €29,958 | €32,246 | +€2,288 | +7.6% |
| Recurring financial income | 75 | €29,958 | €32,246 | +€2,288 | +7.6% |
| Financial charges | 65/66B | €3,232 | €3,042 | -€190 | -5.9% |
| Recurring financial charges | 65 | €3,232 | €3,042 | -€190 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €2,140 | €35,572 | +€33,432 | +1,562% |
| Income taxes | 67/77 | €1,778 | €8,475 | +€6,698 | +377% |
| Profit (loss) for the period | 9904 | €363 | €27,097 | +€26,734 | +7,370% |
| Profit (loss) for the period to be appropriated | 9905 | €363 | €27,097 | +€26,734 | +7,370% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 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.