GUILLAUME BOURLET: 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.
GUILLAUME BOURLET
Largest movements
- Tangible fixed assets -€8,552
down €8,552 (-11.7%), from €73,326 to €64,774
of which Furniture and vehicles: -€13,483
- Receivables within one year -€7,845
down €7,845 (-81.0%), from €9,680 to €1,835
of which Trade receivables: -€9,680
- Cash +€2,566
up €2,566 (+42.8%), from €5,992 to €8,557
mainly Depreciation (+€17,642) and Receivables within one year (+€7,845)
- Profit (loss) carried forward -€11,265
down €11,265 (-18.0%), from €62,542 to €51,277
- Other debts -€5,792
down €5,792 (-17.4%), from €33,346 to €27,553
- Trade debts +€3,607
new in 2025: €3,607
- Gross operating margin -€24,337
down €24,337 (-76.5%), from €31,823 to €7,486
- Depreciation +€5,071
up €5,071 (+40.3%), from €12,571 to €17,642
- Taxes -€3,159
down €3,159 (-95.0%), from €3,324 to €165
- Financial charges -€2,079
down €2,079 (-100.0%), from €2,079 to €0
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 | €102,864 | €88,959 | -€13,905 | -13.5% |
| Fixed assets | 21/28 | €84,474 | €75,922 | -€8,552 | -10.1% |
| Tangible fixed assets | 22/27 | €73,326 | €64,774 | -€8,552 | -11.7% |
| Plant, machinery and equipment | 23 | €24,361 | €24,205 | -€156 | -0.6% |
| Furniture and vehicles | 24 | €43,955 | €30,471 | -€13,483 | -30.7% |
| Other tangible fixed assets | 26 | €5,010 | €10,097 | +€5,087 | +101.5% |
| Financial fixed assets | 28 | €11,148 | €11,148 | = | 0.0% |
| Current assets | 29/58 | €18,390 | €13,037 | -€5,353 | -29.1% |
| Amounts receivable within one year | 40/41 | €9,680 | €1,835 | -€7,845 | -81.0% |
| Trade receivables | 40 | €9,680 | - | -€9,680 | |
| Other amounts receivable | 41 | - | €1,835 | +€1,835 | |
| Cash at bank and in hand | 54/58 | €5,992 | €8,557 | +€2,566 | +42.8% |
| Deferred charges and accrued income | 490/1 | €2,718 | €2,644 | -€74 | -2.7% |
| Total equity and liabilities | 10/49 | €102,864 | €88,959 | -€13,905 | -13.5% |
| Equity | 10/15 | €64,542 | €53,277 | -€11,265 | -17.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,542 | €51,277 | -€11,265 | -18.0% |
| Amounts payable | 17/49 | €38,322 | €35,682 | -€2,640 | -6.9% |
| Amounts payable within one year | 42/48 | €38,322 | €35,682 | -€2,640 | -6.9% |
| Trade debts | 44 | - | €3,607 | +€3,607 | |
| Suppliers | 440/4 | - | €3,607 | +€3,607 | |
| Taxes, remuneration and social security | 45 | €4,976 | €4,521 | -€455 | -9.1% |
| Taxes | 450/3 | €4,976 | €4,521 | -€455 | -9.1% |
| Other amounts payable | 47/48 | €33,346 | €27,553 | -€5,792 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,571 | €17,642 | +€5,071 | +40.3% |
| Other operating charges | 640/8 | €974 | €1,117 | +€143 | +14.7% |
| Gross operating margin | 9900 | €31,823 | €7,486 | -€24,337 | -76.5% |
| Operating profit (loss) | 9901 | €18,278 | -€11,273 | -€29,551 | |
| Financial income | 75/76B | - | €172 | +€172 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €172 | +€172 | |
| Financial charges | 65/66B | €2,079 | €0 | -€2,079 | -100.0% |
| Recurring financial charges | 65 | €2,079 | €0 | -€2,079 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €16,200 | -€11,101 | -€27,300 | |
| Income taxes | 67/77 | €3,324 | €165 | -€3,159 | -95.0% |
| Profit (loss) for the period | 9904 | €12,876 | -€11,265 | -€24,141 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,876 | -€11,265 | -€24,141 |
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.