GUIDO: 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.
GUIDO
Largest movements
- Receivables within one year +€174,946
up €174,946 (+9.2%), from €1.9m to €2.1m
of which Trade receivables: +€189,934
- Cash -€57,455
down €57,455 (-98.2%), from €58,481 to €1,026
mainly Trade debts (-€215,731) and Receivables within one year (-€174,946)
- Tangible fixed assets -€52,264
down €52,264 (-7.6%), from €691,652 to €639,388
of which Plant, machinery and equipment: -€76,459
- Trade debts -€215,731
down €215,731 (-26.5%), from €814,768 to €599,037
- Debts after one year +€171,759
up €171,759 (+12.1%), from €1.4m to €1.6m
- Tax, wage and social debts +€108,491
up €108,491 (+124.4%), from €87,189 to €195,680
of which Taxes: +€96,233
- Other debts -€60,112
down €60,112 (-96.0%), from €62,612 to €2,500
- Short-term financial debts -€46,136
down €46,136 (-18.7%), from €246,197 to €200,061
- Staff costs +€124,996
up €124,996 (+25.4%), from €493,042 to €618,038
- Gross operating margin -€63,889
down €63,889 (-6.3%), from €1.0m to €953,222
- Depreciation +€11,215
up €11,215 (+6.2%), from €180,943 to €192,158
- Financial income -€10,350
down €10,350 (-79.2%), from €13,072 to €2,722
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,122,221 | €3,123,641 | +€1,420 | 0.0% |
| Fixed assets | 21/28 | €740,751 | €673,487 | -€67,264 | -9.1% |
| Intangible fixed assets | 21 | €37,459 | €22,459 | -€15,000 | -40.0% |
| Tangible fixed assets | 22/27 | €691,652 | €639,388 | -€52,264 | -7.6% |
| Plant, machinery and equipment | 23 | €442,334 | €365,875 | -€76,459 | -17.3% |
| Furniture and vehicles | 24 | €50,973 | €42,558 | -€8,415 | -16.5% |
| Other tangible fixed assets | 26 | €198,345 | €230,955 | +€32,610 | +16.4% |
| Financial fixed assets | 28 | €11,640 | €11,640 | = | 0.0% |
| Current assets | 29/58 | €2,381,470 | €2,450,154 | +€68,684 | +2.9% |
| Stocks and contracts in progress | 3 | €175,130 | €150,130 | -€25,000 | -14.3% |
| Contracts in progress | 37 | €175,130 | €150,130 | -€25,000 | -14.3% |
| Amounts receivable within one year | 40/41 | €1,898,492 | €2,073,438 | +€174,946 | +9.2% |
| Trade receivables | 40 | €1,881,172 | €2,071,106 | +€189,934 | +10.1% |
| Other amounts receivable | 41 | €17,320 | €2,332 | -€14,988 | -86.5% |
| Cash at bank and in hand | 54/58 | €58,481 | €1,026 | -€57,455 | -98.2% |
| Deferred charges and accrued income | 490/1 | €249,367 | €225,560 | -€23,807 | -9.5% |
| Total equity and liabilities | 10/49 | €3,122,221 | €3,123,641 | +€1,420 | 0.0% |
| Equity | 10/15 | €286,098 | €304,418 | +€18,320 | +6.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,098 | €194,418 | +€18,320 | +10.4% |
| Amounts payable | 17/49 | €2,836,123 | €2,819,223 | -€16,900 | -0.6% |
| Amounts payable after more than one year | 17 | €1,418,896 | €1,590,655 | +€171,759 | +12.1% |
| Financial debts | 170/4 | €1,418,896 | €1,590,655 | +€171,759 | +12.1% |
| Amounts payable within one year | 42/48 | €1,387,844 | €1,214,023 | -€173,821 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €177,078 | €216,745 | +€39,667 | +22.4% |
| Financial debts | 43 | €246,197 | €200,061 | -€46,136 | -18.7% |
| Credit institutions | 430/8 | €246,197 | €200,061 | -€46,136 | -18.7% |
| Trade debts | 44 | €814,768 | €599,037 | -€215,731 | -26.5% |
| Suppliers | 440/4 | €814,768 | €599,037 | -€215,731 | -26.5% |
| Taxes, remuneration and social security | 45 | €87,189 | €195,680 | +€108,491 | +124.4% |
| Taxes | 450/3 | €42,961 | €139,194 | +€96,233 | +224.0% |
| Remuneration and social security | 454/9 | €44,228 | €56,486 | +€12,258 | +27.7% |
| Other amounts payable | 47/48 | €62,612 | €2,500 | -€60,112 | -96.0% |
| Accrued charges and deferred income | 492/3 | €29,383 | €14,545 | -€14,838 | -50.5% |
| Non-recurring operating income | 76A | €41,870 | - | -€41,870 | |
| Remuneration, social security and pensions | 62 | €493,042 | €618,038 | +€124,996 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,943 | €192,158 | +€11,215 | +6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,926 | €6,327 | -€7,599 | -54.6% |
| Other operating charges | 640/8 | €14,212 | €14,201 | -€11 | -0.1% |
| Non-recurring operating charges | 66A | €203 | - | -€203 | |
| Gross operating margin | 9900 | €1,017,111 | €953,222 | -€63,889 | -6.3% |
| Operating profit (loss) | 9901 | €314,785 | €122,498 | -€192,287 | -61.1% |
| Financial income | 75/76B | €13,072 | €2,722 | -€10,350 | -79.2% |
| Recurring financial income | 75 | €13,072 | €2,722 | -€10,350 | -79.2% |
| Financial charges | 65/66B | €96,343 | €87,975 | -€8,368 | -8.7% |
| Recurring financial charges | 65 | €96,343 | €87,975 | -€8,368 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €231,514 | €37,245 | -€194,269 | -83.9% |
| Income taxes | 67/77 | €13,101 | €18,925 | +€5,824 | +44.5% |
| Profit (loss) for the period | 9904 | €218,413 | €18,320 | -€200,093 | -91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €218,413 | €18,320 | -€200,093 | -91.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.