GUFI: 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.
GUFI
Largest movements
- Cash +€117,273
up €117,273 (+390%), from €30,107 to €147,380
mainly Depreciation (+€94,268) and Net result for the year (+€84,765)
- Tangible fixed assets -€84,584
down €84,584 (-4.8%), from €1.8m to €1.7m
- Reserves +€84,765
up €84,765 (+6.6%), from €1.3m to €1.4m
- Debts after one year -€44,114
down €44,114 (-16.7%), from €264,114 to €220,000
- Current portion of long-term debt -€20,012
down €20,012 (-82.9%), from €24,127 to €4,114
- Gross operating margin +€25,658
up €25,658 (+11.8%), from €216,791 to €242,449
- Depreciation -€12,553
down €12,553 (-11.8%), from €106,821 to €94,268
- Taxes +€9,868
up €9,868 (+33.2%), from €29,688 to €39,557
- Financial charges +€5,495
up €5,495 (+97.6%), from €5,628 to €11,123
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 | €1,784,678 | €1,816,580 | +€31,903 | +1.8% |
| Fixed assets | 21/28 | €1,752,646 | €1,668,062 | -€84,584 | -4.8% |
| Tangible fixed assets | 22/27 | €1,752,646 | €1,668,062 | -€84,584 | -4.8% |
| Land and buildings | 22 | €1,752,646 | €1,668,062 | -€84,584 | -4.8% |
| Current assets | 29/58 | €32,032 | €148,519 | +€116,487 | +364% |
| Cash at bank and in hand | 54/58 | €30,107 | €147,380 | +€117,273 | +390% |
| Deferred charges and accrued income | 490/1 | €1,925 | €1,138 | -€786 | -40.9% |
| Total equity and liabilities | 10/49 | €1,784,678 | €1,816,580 | +€31,903 | +1.8% |
| Equity | 10/15 | €1,486,103 | €1,570,867 | +€84,765 | +5.7% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,286,103 | €1,370,867 | +€84,765 | +6.6% |
| Distributable reserves | 133 | €1,286,103 | €1,370,867 | +€84,765 | +6.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €298,575 | €245,713 | -€52,862 | -17.7% |
| Amounts payable after more than one year | 17 | €264,114 | €220,000 | -€44,114 | -16.7% |
| Financial debts | 170/4 | €264,114 | €220,000 | -€44,114 | -16.7% |
| Amounts payable within one year | 42/48 | €29,685 | €14,538 | -€15,147 | -51.0% |
| Current portion of amounts payable after more than one year | 42 | €24,127 | €4,114 | -€20,012 | -82.9% |
| Trade debts | 44 | €41 | €666 | +€625 | +1,516% |
| Suppliers | 440/4 | €41 | €666 | +€625 | +1,516% |
| Taxes, remuneration and social security | 45 | €4,637 | €7,557 | +€2,919 | +63.0% |
| Taxes | 450/3 | €1,637 | €7,557 | +€5,919 | +362% |
| Remuneration and social security | 454/9 | €3,000 | €0 | -€3,000 | -100% |
| Other amounts payable | 47/48 | €880 | €2,201 | +€1,320 | +150% |
| Accrued charges and deferred income | 492/3 | €4,775 | €11,175 | +€6,400 | +134% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,821 | €94,268 | -€12,553 | -11.8% |
| Other operating charges | 640/8 | €11,206 | €12,738 | +€1,532 | +13.7% |
| Gross operating margin | 9900 | €216,791 | €242,449 | +€25,658 | +11.8% |
| Operating profit (loss) | 9901 | €98,764 | €135,443 | +€36,679 | +37.1% |
| Financial income | 75/76B | €171 | €2 | -€169 | -99.1% |
| Recurring financial income | 75 | €171 | €2 | -€169 | -99.1% |
| Financial charges | 65/66B | €5,628 | €11,123 | +€5,495 | +97.6% |
| Recurring financial charges | 65 | €5,628 | €11,123 | +€5,495 | +97.6% |
| Profit (loss) for the period before taxes | 9903 | €93,306 | €124,322 | +€31,015 | +33.2% |
| Income taxes | 67/77 | €29,688 | €39,557 | +€9,868 | +33.2% |
| Profit (loss) for the period | 9904 | €63,618 | €84,765 | +€21,147 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €63,618 | €84,765 | +€21,147 | +33.2% |
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 16 October 2026 via checked.be.