GUIBAVAL: what changed
Two fiscal 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.
GUIBAVAL
Largest movements
- Cash +€35,363
new in 2025: €35,363
mainly Net result for the year (+€87,064) and Receivables within one year (+€10,229)
- Financial fixed assets +€15,000
new in 2025: €15,000
- Receivables within one year -€10,229
no longer reported in 2025 (was €10,229)
- Tangible fixed assets +€3,903
up €3,903 (+5.4%), from €71,895 to €75,798
of which Other tangible fixed assets: +€6,000
- Profit (loss) carried forward +€87,064
up €87,064, from -€76,419 to €10,645
- Other debts -€42,696
down €42,696 (-34.3%), from €124,545 to €81,849
- Tax, wage and social debts +€5,818
up €5,818 (+328.5%), from €1,771 to €7,589
- Short-term financial debts -€5,114
down €5,114 (-50.3%), from €10,169 to €5,055
- Gross operating margin +€93,533
up €93,533, from -€6,411 to €87,122
- Financial income +€42,950
up €42,950 (+26221.0%), from €164 to €43,114
of which Non-recurring financial income: +€42,950
- Other operating charges +€21,190
up €21,190 (+904.8%), from €2,342 to €23,532
- Write-downs -€17,835
new in 2025: -€17,835
- Depreciation -€9,606
down €9,606 (-72.3%), from €13,291 to €3,685
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.
Cash bridge derived
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 | €82,618 | €126,614 | +€43,995 | +53.3% |
| Fixed assets | 21/28 | €71,895 | €90,798 | +€18,903 | +26.3% |
| Tangible fixed assets | 22/27 | €71,895 | €75,798 | +€3,903 | +5.4% |
| Land and buildings | 22 | €67,174 | €65,390 | -€1,784 | -2.7% |
| Plant, machinery and equipment | 23 | €4,721 | €4,409 | -€313 | -6.6% |
| Other tangible fixed assets | 26 | - | €6,000 | +€6,000 | |
| Financial fixed assets | 28 | - | €15,000 | +€15,000 | |
| Current assets | 29/58 | €10,723 | €35,815 | +€25,092 | +234.0% |
| Amounts receivable within one year | 40/41 | €10,229 | - | -€10,229 | |
| Trade receivables | 40 | €10,229 | - | -€10,229 | |
| Cash at bank and in hand | 54/58 | - | €35,363 | +€35,363 | |
| Deferred charges and accrued income | 490/1 | €494 | €452 | -€42 | -8.6% |
| Total equity and liabilities | 10/49 | €82,618 | €126,614 | +€43,995 | +53.3% |
| Equity | 10/15 | -€64,660 | €22,239 | +€86,900 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,419 | €10,645 | +€87,064 | |
| Investment grants | 15 | €3,699 | €3,535 | -€164 | -4.4% |
| Provisions and deferred taxes | 16 | €7,302 | €7,302 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €7,302 | €7,302 | = | 0.0% |
| Pensions and similar obligations | 160 | €7,302 | €7,302 | = | 0.0% |
| Amounts payable | 17/49 | €139,977 | €97,072 | -€42,904 | -30.7% |
| Amounts payable within one year | 42/48 | €139,977 | €97,072 | -€42,904 | -30.7% |
| Financial debts | 43 | €10,169 | €5,055 | -€5,114 | -50.3% |
| Credit institutions | 430/8 | €10,169 | €5,055 | -€5,114 | -50.3% |
| Trade debts | 44 | €3,492 | €2,579 | -€913 | -26.2% |
| Suppliers | 440/4 | €3,492 | €2,579 | -€913 | -26.2% |
| Taxes, remuneration and social security | 45 | €1,771 | €7,589 | +€5,818 | +328.5% |
| Taxes | 450/3 | €1,771 | €7,589 | +€5,818 | +328.5% |
| Other amounts payable | 47/48 | €124,545 | €81,849 | -€42,696 | -34.3% |
| Non-recurring operating income | 76A | €1,287 | €31,470 | +€30,183 | +2344.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,291 | €3,685 | -€9,606 | -72.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€17,835 | -€17,835 | |
| Other operating charges | 640/8 | €2,342 | €23,532 | +€21,190 | +904.8% |
| Non-recurring operating charges | 66A | €542 | €27,960 | +€27,418 | +5059.8% |
| Gross operating margin | 9900 | -€6,411 | €87,122 | +€93,533 | |
| Operating profit (loss) | 9901 | -€22,585 | €49,779 | +€72,365 | |
| Financial income | 75/76B | €164 | €43,114 | +€42,950 | +26221.0% |
| Recurring financial income | 75 | €164 | €164 | = | 0.0% |
| Non-recurring financial income | 76B | - | €42,950 | +€42,950 | |
| Financial charges | 65/66B | €2,349 | €1,968 | -€381 | -16.2% |
| Recurring financial charges | 65 | €2,349 | €1,968 | -€381 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | -€24,770 | €90,925 | +€115,696 | |
| Income taxes | 67/77 | €728 | €3,862 | +€3,134 | +430.8% |
| Profit (loss) for the period | 9904 | -€25,498 | €87,064 | +€112,561 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,498 | €87,064 | +€112,561 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.