GUEUZERIE TILQUIN: 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
GUEUZERIE TILQUIN
NACE 11.050, Manufacture of beer
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€54,176
2024 · -€14,065-€40,111
Equity
€1.2m
2024 · €1.2m-€51,539
Cash
€32,050
2024 · €40,551-€8,501
Balance sheet total
€1.8m
2024 · €2.0m-€171,815
Largest movements
Assets
- Tangible fixed assets -€113,560
down €113,560 (-15.2%), from €746,846 to €633,287
- Receivables within one year -€36,505
down €36,505 (-45.6%), from €80,080 to €43,575
Equity and liabilities
- Current portion of long-term debt -€114,497
down €114,497 (-72.8%), from €157,258 to €42,761
- Profit (loss) carried forward -€45,372
down €45,372 (-4.6%), from €994,313 to €948,941
- Reserves -€26,166
no longer reported in 2025 (was €26,166)
of which Non-distributable reserves: -€20,000
- Trade debts +€21,535
up €21,535 (+107%), from €20,078 to €41,613
Income statement
- Purchases and services -€463,966
no longer reported in 2025 (was €463,966)
- Gross operating margin -€84,244
down €84,244 (-23.0%), from €365,732 to €281,487
- Staff costs -€36,814
down €36,814 (-16.9%), from €218,224 to €181,410
- Depreciation -€17,551
down €17,551 (-12.9%), from €135,921 to €118,370
- Taxes +€14,769
no longer reported in 2025 (was -€14,769)
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
-€14,065
Gross operating margin
-€84,244
Staff costs
+€36,814
Depreciation
+€17,551
Other operating charges
+€2,765
Financial income
+€483
Financial charges
+€1,289
Taxes
-€14,769
Result 2025
-€54,176
raises the resultlowers the result
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.
From operations
+€119,430
Investment
-€4,810
Financing
-€123,120
Cash 2024
€40,551
From operations (derived)
+€119,430
Net result for the year
-€54,176
Depreciation
+€118,370
Stocks and contracts
+€12,813
Receivables within one year
+€36,505
Deferred charges and accrued income
+€437
Provisions
-€2,637
Trade debts
+€21,535
Tax, wage and social debts
-€11,506
Accrued charges and deferred income
-€1,911
Investment (derived)
-€4,810
Investment in fixed assets (net)
-€4,810
Financing
-€123,120
Debts after one year
-€11,261
Current portion of long-term debt
-€114,497
Contributions, distributions and other
+€2,637
Cash 2025
€32,050
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,008,575 | €1,836,760 | -€171,815 | -8.6% |
| Fixed assets | 21/28 | €750,296 | €636,737 | -€113,560 | -15.1% |
| Tangible fixed assets | 22/27 | €746,846 | €633,287 | -€113,560 | -15.2% |
| Land and buildings | 22 | €400,952 | €365,843 | -€35,110 | -8.8% |
| Plant, machinery and equipment | 23 | €136,592 | €103,614 | -€32,978 | -24.1% |
| Furniture and vehicles | 24 | €209,303 | €163,830 | -€45,472 | -21.7% |
| Financial fixed assets | 28 | €3,450 | €3,450 | = | 0.0% |
| Current assets | 29/58 | €1,258,279 | €1,200,023 | -€58,256 | -4.6% |
| Stocks and contracts in progress | 3 | €1,133,363 | €1,120,550 | -€12,813 | -1.1% |
| Stocks | 30/36 | €1,133,363 | €1,120,550 | -€12,813 | -1.1% |
| Amounts receivable within one year | 40/41 | €80,080 | €43,575 | -€36,505 | -45.6% |
| Trade receivables | 40 | €80,080 | €43,575 | -€36,505 | -45.6% |
| Cash at bank and in hand | 54/58 | €40,551 | €32,050 | -€8,501 | -21.0% |
| Deferred charges and accrued income | 490/1 | €4,285 | €3,848 | -€437 | -10.2% |
| Total equity and liabilities | 10/49 | €2,008,575 | €1,836,760 | -€171,815 | -8.6% |
| Equity | 10/15 | €1,220,479 | €1,168,941 | -€51,539 | -4.2% |
| Contributions | 10/11 | €200,000 | €220,000 | +€20,000 | +10.0% |
| Capital | 10 | €200,000 | - | -€200,000 | |
| Issued capital | 100 | €200,000 | - | -€200,000 | |
| Reserves | 13 | €26,166 | - | -€26,166 | |
| Non-distributable reserves | 130/1 | €20,000 | - | -€20,000 | |
| Legal reserve | 130 | €20,000 | - | -€20,000 | |
| Tax-exempt reserves | 132 | €6,166 | - | -€6,166 | |
| Profit (loss) carried forward | 14 | €994,313 | €948,941 | -€45,372 | -4.6% |
| Provisions and deferred taxes | 16 | €2,637 | - | -€2,637 | |
| Deferred taxes | 168 | €2,637 | - | -€2,637 | |
| Amounts payable | 17/49 | €785,459 | €667,820 | -€117,639 | -15.0% |
| Amounts payable after more than one year | 17 | €570,568 | €559,307 | -€11,261 | -2.0% |
| Financial debts | 170/4 | €570,568 | €559,307 | -€11,261 | -2.0% |
| Amounts payable within one year | 42/48 | €212,980 | €108,513 | -€104,468 | -49.1% |
| Current portion of amounts payable after more than one year | 42 | €157,258 | €42,761 | -€114,497 | -72.8% |
| Trade debts | 44 | €20,078 | €41,613 | +€21,535 | +107% |
| Suppliers | 440/4 | €20,078 | €41,613 | +€21,535 | +107% |
| Taxes, remuneration and social security | 45 | €35,645 | €24,139 | -€11,506 | -32.3% |
| Taxes | 450/3 | €7,985 | €6,545 | -€1,440 | -18.0% |
| Remuneration and social security | 454/9 | €27,661 | €17,594 | -€10,066 | -36.4% |
| Accrued charges and deferred income | 492/3 | €1,911 | - | -€1,911 | |
| Goods, raw materials, services and sundry goods | 60/61 | €463,966 | - | -€463,966 | |
| Remuneration, social security and pensions | 62 | €218,224 | €181,410 | -€36,814 | -16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,921 | €118,370 | -€17,551 | -12.9% |
| Other operating charges | 640/8 | €22,094 | €19,330 | -€2,765 | -12.5% |
| Gross operating margin | 9900 | €365,732 | €281,487 | -€84,244 | -23.0% |
| Operating profit (loss) | 9901 | -€10,508 | -€37,622 | -€27,114 | -258% |
| Financial income | 75/76B | €239 | €722 | +€483 | +202% |
| Recurring financial income | 75 | €239 | €722 | +€483 | +202% |
| Financial charges | 65/66B | €18,566 | €17,276 | -€1,289 | -6.9% |
| Recurring financial charges | 65 | €18,566 | €17,276 | -€1,289 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | -€28,834 | -€54,176 | -€25,342 | -87.9% |
| Income taxes | 67/77 | -€14,769 | - | +€14,769 | |
| Profit (loss) for the period | 9904 | -€14,065 | -€54,176 | -€40,111 | -285% |
| Transfer from tax-exempt reserves | 789 | €5,126 | €8,804 | +€3,678 | +71.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,940 | -€45,372 | -€36,433 | -408% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.