GUIDO VERTONGEN: 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 VERTONGEN
Largest movements
- Tangible fixed assets -€14,193
down €14,193 (-4.4%), from €324,609 to €310,416
of which Land and buildings: -€12,403
- Cash +€6,646
up €6,646 (+41.7%), from €15,952 to €22,598
mainly Depreciation (+€14,193) and Deferred charges and accrued income (+€975)
- Reserves -€7,629
down €7,629 (-14.8%), from €51,697 to €44,068
of which Distributable reserves: -€7,629
- Depreciation -€835
down €835 (-5.6%), from €15,028 to €14,193
- Gross operating margin +€634
up €634 (+9.7%), from €6,527 to €7,161
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 | €341,637 | €333,115 | -€8,522 | -2.5% |
| Fixed assets | 21/28 | €324,609 | €310,416 | -€14,193 | -4.4% |
| Tangible fixed assets | 22/27 | €324,609 | €310,416 | -€14,193 | -4.4% |
| Land and buildings | 22 | €303,403 | €291,000 | -€12,403 | -4.1% |
| Plant, machinery and equipment | 23 | €20,073 | €18,531 | -€1,542 | -7.7% |
| Furniture and vehicles | 24 | €1,133 | €885 | -€248 | -21.9% |
| Current assets | 29/58 | €17,028 | €22,699 | +€5,671 | +33.3% |
| Amounts receivable within one year | 40/41 | €101 | €101 | = | 0.0% |
| Other amounts receivable | 41 | €101 | €101 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,952 | €22,598 | +€6,646 | +41.7% |
| Deferred charges and accrued income | 490/1 | €975 | - | -€975 | |
| Total equity and liabilities | 10/49 | €341,637 | €333,115 | -€8,522 | -2.5% |
| Equity | 10/15 | €201,697 | €194,068 | -€7,629 | -3.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €51,697 | €44,068 | -€7,629 | -14.8% |
| Tax-exempt reserves | 132 | €14,141 | €14,141 | = | 0.0% |
| Distributable reserves | 133 | €37,556 | €29,927 | -€7,629 | -20.3% |
| Amounts payable | 17/49 | €139,940 | €139,047 | -€893 | -0.6% |
| Amounts payable within one year | 42/48 | €139,940 | €139,047 | -€893 | -0.6% |
| Trade debts | 44 | €64 | €120 | +€56 | +87.5% |
| Suppliers | 440/4 | €64 | €120 | +€56 | +87.5% |
| Taxes, remuneration and social security | 45 | €201 | €212 | +€11 | +5.5% |
| Taxes | 450/3 | €201 | €212 | +€11 | +5.5% |
| Other amounts payable | 47/48 | €139,675 | €138,715 | -€960 | -0.7% |
| Remuneration, social security and pensions | 62 | €22 | - | -€22 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,028 | €14,193 | -€835 | -5.6% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €6,527 | €7,161 | +€634 | +9.7% |
| Operating profit (loss) | 9901 | -€8,641 | -€7,152 | +€1,489 | +17.2% |
| Financial charges | 65/66B | €230 | €265 | +€35 | +15.2% |
| Recurring financial charges | 65 | €230 | €265 | +€35 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,871 | -€7,417 | +€1,454 | +16.4% |
| Income taxes | 67/77 | €201 | €212 | +€11 | +5.5% |
| Profit (loss) for the period | 9904 | -€9,072 | -€7,629 | +€1,443 | +15.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,072 | -€7,629 | +€1,443 | +15.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.