GUEST 36: 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.
GUEST 36
Largest movements
- Tangible fixed assets -€21,602
down €21,602 (-5.0%), from €431,104 to €409,502
- Cash -€6,021
down €6,021 (-37.2%), from €16,193 to €10,171
mainly Debts after one year (-€29,161) and Other debts (-€25,230)
- Debts after one year -€29,161
down €29,161 (-15.8%), from €184,233 to €155,071
- Other debts -€25,230
down €25,230 (-43.1%), from €58,502 to €33,272
- Profit (loss) carried forward +€24,291
up €24,291 (+38.6%), from €62,926 to €87,217
- Investment grants -€13,009
down €13,009 (-21.3%), from €61,188 to €48,179
- Provisions +€8,846
up €8,846 (+17.6%), from €50,331 to €59,178
- Taxes +€7,338
new in 2025: €7,338
- Financial charges -€879
down €879 (-11.6%), from €7,599 to €6,720
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 | €471,735 | €446,349 | -€25,386 | -5.4% |
| Fixed assets | 21/28 | €431,104 | €409,502 | -€21,602 | -5.0% |
| Tangible fixed assets | 22/27 | €431,104 | €409,502 | -€21,602 | -5.0% |
| Land and buildings | 22 | €431,104 | €409,502 | -€21,602 | -5.0% |
| Current assets | 29/58 | €40,630 | €36,847 | -€3,784 | -9.3% |
| Amounts receivable within one year | 40/41 | €24,438 | €25,282 | +€844 | +3.5% |
| Trade receivables | 40 | €24,400 | €24,200 | -€200 | -0.8% |
| Other amounts receivable | 41 | €38 | €1,082 | +€1,044 | +2,765% |
| Cash at bank and in hand | 54/58 | €16,193 | €10,171 | -€6,021 | -37.2% |
| Deferred charges and accrued income | 490/1 | - | €1,393 | +€1,393 | |
| Total equity and liabilities | 10/49 | €471,735 | €446,349 | -€25,386 | -5.4% |
| Equity | 10/15 | €142,714 | €153,996 | +€11,283 | +7.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,926 | €87,217 | +€24,291 | +38.6% |
| Investment grants | 15 | €61,188 | €48,179 | -€13,009 | -21.3% |
| Provisions and deferred taxes | 16 | €50,331 | €59,178 | +€8,846 | +17.6% |
| Deferred taxes | 168 | €50,331 | €59,178 | +€8,846 | +17.6% |
| Amounts payable | 17/49 | €278,690 | €233,175 | -€45,515 | -16.3% |
| Amounts payable after more than one year | 17 | €184,233 | €155,071 | -€29,161 | -15.8% |
| Financial debts | 170/4 | €184,233 | €155,071 | -€29,161 | -15.8% |
| Amounts payable within one year | 42/48 | €94,457 | €78,103 | -€16,353 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €27,765 | €29,161 | +€1,396 | +5.0% |
| Trade debts | 44 | €3,599 | €3,132 | -€467 | -13.0% |
| Suppliers | 440/4 | €3,599 | €3,132 | -€467 | -13.0% |
| Taxes, remuneration and social security | 45 | €4,590 | €12,538 | +€7,948 | +173% |
| Taxes | 450/3 | €4,590 | €12,538 | +€7,948 | +173% |
| Other amounts payable | 47/48 | €58,502 | €33,272 | -€25,230 | -43.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,155 | €21,602 | -€553 | -2.5% |
| Other operating charges | 640/8 | €3,367 | €3,505 | +€137 | +4.1% |
| Gross operating margin | 9900 | €58,922 | €59,276 | +€354 | +0.6% |
| Operating profit (loss) | 9901 | €33,400 | €34,169 | +€769 | +2.3% |
| Financial income | 75/76B | €3,032 | €3,047 | +€15 | +0.5% |
| Recurring financial income | 75 | €3,032 | €3,047 | +€15 | +0.5% |
| Financial charges | 65/66B | €7,599 | €6,720 | -€879 | -11.6% |
| Recurring financial charges | 65 | €7,599 | €6,720 | -€879 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €28,833 | €30,496 | +€1,663 | +5.8% |
| Transfer from deferred taxes | 780 | €1,133 | €1,133 | = | 0.0% |
| Income taxes | 67/77 | - | €7,338 | +€7,338 | |
| Profit (loss) for the period | 9904 | €29,966 | €24,291 | -€5,675 | -18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,966 | €24,291 | -€5,675 | -18.9% |
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 22 October 2026 via checked.be.