GUIDO: 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.
GUIDO
Largest movements
- Cash +€194,462
up €194,462 (+31.0%), from €627,676 to €822,138
mainly Net result for the year (+€118,755) and Accrued charges and deferred income (+€64,902)
- Profit (loss) carried forward +€118,755
up €118,755 (+19.4%), from €612,566 to €731,320
- Accrued charges and deferred income +€64,902
up €64,902 (+640.5%), from €10,133 to €75,034
- Financial charges +€64,281
up €64,281 (+37610.9%), from €171 to €64,452
- Gross operating margin +€54,198
up €54,198 (+28.2%), from €192,404 to €246,602
- Taxes +€22,889
new in 2025: €22,889
- Financial income -€4,255
down €4,255 (-27.7%), from €15,348 to €11,093
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 | €3,346,961 | €3,532,379 | +€185,418 | +5.5% |
| Fixed assets | 21/28 | €2,703,471 | €2,676,214 | -€27,257 | -1.0% |
| Tangible fixed assets | 22/27 | €572,767 | €545,510 | -€27,257 | -4.8% |
| Land and buildings | 22 | €334,154 | €334,154 | = | 0.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €238,613 | €211,357 | -€27,257 | -11.4% |
| Financial fixed assets | 28 | €2,130,703 | €2,130,703 | = | 0.0% |
| Current assets | 29/58 | €643,490 | €856,165 | +€212,675 | +33.1% |
| Amounts receivable within one year | 40/41 | €5,717 | €29,882 | +€24,165 | +422.7% |
| Trade receivables | 40 | - | €838 | +€838 | |
| Other amounts receivable | 41 | €5,717 | €29,044 | +€23,327 | +408.0% |
| Cash at bank and in hand | 54/58 | €627,676 | €822,138 | +€194,462 | +31.0% |
| Deferred charges and accrued income | 490/1 | €10,097 | €4,145 | -€5,952 | -58.9% |
| Total equity and liabilities | 10/49 | €3,346,961 | €3,532,379 | +€185,418 | +5.5% |
| Equity | 10/15 | €2,265,542 | €2,384,297 | +€118,755 | +5.2% |
| Contributions | 10/11 | €433,814 | €433,814 | = | 0.0% |
| Capital | 10 | €433,814 | €433,814 | = | 0.0% |
| Issued capital | 100 | €433,814 | €433,814 | = | 0.0% |
| Reserves | 13 | €1,219,163 | €1,219,163 | = | 0.0% |
| Non-distributable reserves | 130/1 | €43,381 | €43,381 | = | 0.0% |
| Legal reserve | 130 | €43,381 | €43,381 | = | 0.0% |
| Tax-exempt reserves | 132 | €223,152 | €223,152 | = | 0.0% |
| Distributable reserves | 133 | €952,630 | €952,630 | = | 0.0% |
| Profit (loss) carried forward | 14 | €612,566 | €731,320 | +€118,755 | +19.4% |
| Amounts payable | 17/49 | €1,081,419 | €1,148,082 | +€66,664 | +6.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,071,286 | €1,073,048 | +€1,762 | +0.2% |
| Trade debts | 44 | €155 | €1,868 | +€1,713 | +1105.3% |
| Suppliers | 440/4 | €155 | €1,868 | +€1,713 | +1105.3% |
| Taxes, remuneration and social security | 45 | - | €49 | +€49 | |
| Taxes | 450/3 | - | €49 | +€49 | |
| Other amounts payable | 47/48 | €1,071,131 | €1,071,131 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €10,133 | €75,034 | +€64,902 | +640.5% |
| Non-recurring operating income | 76A | - | €103,089 | +€103,089 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,729 | €27,257 | +€528 | +2.0% |
| Other operating charges | 640/8 | €25,337 | €24,343 | -€995 | -3.9% |
| Non-recurring operating charges | 66A | €49,920 | €0 | -€49,920 | -100.0% |
| Gross operating margin | 9900 | €192,404 | €246,602 | +€54,198 | +28.2% |
| Operating profit (loss) | 9901 | €90,418 | €195,002 | +€104,585 | +115.7% |
| Financial income | 75/76B | €15,348 | €11,093 | -€4,255 | -27.7% |
| Recurring financial income | 75 | €15,348 | €11,093 | -€4,255 | -27.7% |
| Financial charges | 65/66B | €171 | €64,452 | +€64,281 | +37610.9% |
| Recurring financial charges | 65 | €171 | €64,452 | +€64,281 | +37610.9% |
| Profit (loss) for the period before taxes | 9903 | €105,595 | €141,643 | +€36,048 | +34.1% |
| Income taxes | 67/77 | - | €22,889 | +€22,889 | |
| Profit (loss) for the period | 9904 | €105,595 | €118,755 | +€13,160 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €105,595 | €118,755 | +€13,160 | +12.5% |
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 10 October 2026 via checked.be.