GUFF: 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.
GUFF
Largest movements
- Receivables within one year +€44,346
up €44,346 (+120%), from €36,945 to €81,290
of which Other amounts receivable: +€30,714
- Cash +€18,511
up €18,511 (+79.4%), from €23,302 to €41,813
mainly Trade debts (+€60,418) and Investment in fixed assets (net) (+€18,272)
- Tangible fixed assets -€16,692
down €16,692 (-36.4%), from €45,826 to €29,134
of which Furniture and vehicles: -€15,843
- Intangible fixed assets -€15,970
down €15,970 (-100%), from €15,970 to €0
- Deferred charges and accrued income -€1,985
down €1,985 (-13.2%), from €15,094 to €13,109
- Trade debts +€60,418
up €60,418 (+149%), from €40,544 to €100,962
- Profit (loss) carried forward -€31,947
down €31,947 (-89.8%), from -€35,591 to -€67,539
- Debts after one year -€8,449
down €8,449 (-10.9%), from €77,806 to €69,357
- Accrued charges and deferred income +€6,434
up €6,434 (+37.5%), from €17,176 to €23,610
- Tax, wage and social debts +€3,859
up €3,859 (+35.8%), from €10,767 to €14,626
of which Taxes: +€5,190
- Gross operating margin -€24,480
down €24,480 (-56.3%), from €43,458 to €18,978
- Depreciation -€5,051
down €5,051 (-26.0%), from €19,442 to €14,391
- Financial charges +€2,877
up €2,877 (+99.6%), from €2,887 to €5,764
- Staff costs -€2,814
down €2,814 (-15.0%), from €18,701 to €15,887
- Other operating charges -€826
down €826 (-34.0%), from €2,425 to €1,599
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 | €142,397 | €170,403 | +€28,005 | +19.7% |
| Fixed assets | 21/28 | €62,171 | €29,509 | -€32,663 | -52.5% |
| Intangible fixed assets | 21 | €15,970 | €0 | -€15,970 | -100% |
| Tangible fixed assets | 22/27 | €45,826 | €29,134 | -€16,692 | -36.4% |
| Plant, machinery and equipment | 23 | €5,700 | €4,918 | -€782 | -13.7% |
| Furniture and vehicles | 24 | €40,000 | €24,157 | -€15,843 | -39.6% |
| Other tangible fixed assets | 26 | €126 | €59 | -€68 | -53.6% |
| Financial fixed assets | 28 | €375 | €375 | = | 0.0% |
| Current assets | 29/58 | €80,226 | €140,894 | +€60,668 | +75.6% |
| Stocks and contracts in progress | 3 | €4,885 | €4,535 | -€350 | -7.2% |
| Stocks | 30/36 | €4,885 | €4,535 | -€350 | -7.2% |
| Amounts receivable within one year | 40/41 | €36,945 | €81,290 | +€44,346 | +120% |
| Trade receivables | 40 | €36,895 | €50,526 | +€13,631 | +36.9% |
| Other amounts receivable | 41 | €50 | €30,764 | +€30,714 | +61,675% |
| Current investments | 50/53 | - | €147 | +€147 | |
| Cash at bank and in hand | 54/58 | €23,302 | €41,813 | +€18,511 | +79.4% |
| Deferred charges and accrued income | 490/1 | €15,094 | €13,109 | -€1,985 | -13.2% |
| Total equity and liabilities | 10/49 | €142,397 | €170,403 | +€28,005 | +19.7% |
| Equity | 10/15 | -€16,673 | -€48,621 | -€31,947 | -192% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €318 | €318 | = | 0.0% |
| Non-distributable reserves | 130/1 | €318 | €318 | = | 0.0% |
| Reserves not available under the articles | 1311 | €318 | €318 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,591 | -€67,539 | -€31,947 | -89.8% |
| Amounts payable | 17/49 | €159,071 | €219,023 | +€59,953 | +37.7% |
| Amounts payable after more than one year | 17 | €77,806 | €69,357 | -€8,449 | -10.9% |
| Financial debts | 170/4 | €77,806 | €69,357 | -€8,449 | -10.9% |
| Amounts payable within one year | 42/48 | €64,089 | €126,056 | +€61,968 | +96.7% |
| Current portion of amounts payable after more than one year | 42 | €8,272 | €8,449 | +€177 | +2.1% |
| Financial debts | 43 | €46 | €1,013 | +€967 | +2,104% |
| Credit institutions | 430/8 | €46 | €1,013 | +€967 | +2,104% |
| Trade debts | 44 | €40,544 | €100,962 | +€60,418 | +149% |
| Suppliers | 440/4 | €40,544 | €100,962 | +€60,418 | +149% |
| Taxes, remuneration and social security | 45 | €10,767 | €14,626 | +€3,859 | +35.8% |
| Taxes | 450/3 | €9,436 | €14,626 | +€5,190 | +55.0% |
| Remuneration and social security | 454/9 | €1,332 | €0 | -€1,332 | -100% |
| Other amounts payable | 47/48 | €4,460 | €1,007 | -€3,454 | -77.4% |
| Accrued charges and deferred income | 492/3 | €17,176 | €23,610 | +€6,434 | +37.5% |
| Non-recurring operating income | 76A | €2,000 | €3,143 | +€1,143 | +57.2% |
| Remuneration, social security and pensions | 62 | €18,701 | €15,887 | -€2,814 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,442 | €14,391 | -€5,051 | -26.0% |
| Other operating charges | 640/8 | €2,425 | €1,599 | -€826 | -34.0% |
| Non-recurring operating charges | 66A | €3,125 | €13,302 | +€10,177 | +326% |
| Gross operating margin | 9900 | €43,458 | €18,978 | -€24,480 | -56.3% |
| Operating profit (loss) | 9901 | -€235 | -€26,201 | -€25,966 | -11,039% |
| Financial income | 75/76B | €132 | €359 | +€227 | +171% |
| Recurring financial income | 75 | €132 | €359 | +€227 | +171% |
| Financial charges | 65/66B | €2,887 | €5,764 | +€2,877 | +99.6% |
| Recurring financial charges | 65 | €2,887 | €5,764 | +€2,877 | +99.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,990 | -€31,606 | -€28,616 | -957% |
| Income taxes | 67/77 | €906 | €341 | -€565 | -62.3% |
| Profit (loss) for the period | 9904 | -€3,896 | -€31,947 | -€28,052 | -720% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,896 | -€31,947 | -€28,052 | -720% |
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.