Guilty Pleasures: 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.
Guilty Pleasures
Largest movements
- Tangible fixed assets +€9,945
up €9,945 (+3.5%), from €281,523 to €291,468
of which Plant, machinery and equipment: +€17,163
- Stocks and contracts +€9,533
up €9,533 (+29.8%), from €31,961 to €41,493
- Receivables within one year +€6,656
up €6,656 (+208%), from €3,195 to €9,851
of which Other amounts receivable: +€6,619
- Deferred charges and accrued income +€5,380
up €5,380 (+295%), from €1,825 to €7,205
- Cash -€4,805
down €4,805 (-9.1%), from €52,671 to €47,865
mainly Investment in fixed assets (net) (-€42,691) and Debts after one year (-€13,141)
- Reserves +€22,248
up €22,248 (+26.2%), from €84,758 to €107,006
- Debts after one year -€13,141
down €13,141 (-10.5%), from €125,389 to €112,249
- Tax, wage and social debts +€9,379
up €9,379 (+19.0%), from €49,239 to €58,618
of which Remuneration and social security: +€17,719
- Other debts +€8,710
up €8,710 (+17.8%), from €48,800 to €57,510
- Staff costs +€106,652
up €106,652 (+50.5%), from €211,044 to €317,696
- Gross operating margin +€99,040
up €99,040 (+32.8%), from €302,204 to €401,243
- Depreciation +€13,967
up €13,967 (+74.4%), from €18,779 to €32,746
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 | €371,173 | €397,882 | +€26,709 | +7.2% |
| Fixed assets | 21/28 | €281,523 | €291,468 | +€9,945 | +3.5% |
| Tangible fixed assets | 22/27 | €281,523 | €291,468 | +€9,945 | +3.5% |
| Plant, machinery and equipment | 23 | €14,052 | €31,215 | +€17,163 | +122% |
| Furniture and vehicles | 24 | €23,879 | €21,132 | -€2,747 | -11.5% |
| Other tangible fixed assets | 26 | €243,592 | €239,121 | -€4,471 | -1.8% |
| Current assets | 29/58 | €89,650 | €106,414 | +€16,764 | +18.7% |
| Stocks and contracts in progress | 3 | €31,961 | €41,493 | +€9,533 | +29.8% |
| Stocks | 30/36 | €31,961 | €41,493 | +€9,533 | +29.8% |
| Amounts receivable within one year | 40/41 | €3,195 | €9,851 | +€6,656 | +208% |
| Trade receivables | 40 | €574 | €611 | +€37 | +6.4% |
| Other amounts receivable | 41 | €2,621 | €9,240 | +€6,619 | +253% |
| Cash at bank and in hand | 54/58 | €52,671 | €47,865 | -€4,805 | -9.1% |
| Deferred charges and accrued income | 490/1 | €1,825 | €7,205 | +€5,380 | +295% |
| Total equity and liabilities | 10/49 | €371,173 | €397,882 | +€26,709 | +7.2% |
| Equity | 10/15 | €94,758 | €117,006 | +€22,248 | +23.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €84,758 | €107,006 | +€22,248 | +26.2% |
| Distributable reserves | 133 | €84,758 | €107,006 | +€22,248 | +26.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €276,415 | €280,876 | +€4,461 | +1.6% |
| Amounts payable after more than one year | 17 | €125,389 | €112,249 | -€13,141 | -10.5% |
| Financial debts | 170/4 | €125,389 | €112,249 | -€13,141 | -10.5% |
| Amounts payable within one year | 42/48 | €151,026 | €168,627 | +€17,602 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €15,368 | €13,141 | -€2,227 | -14.5% |
| Trade debts | 44 | €29,080 | €30,820 | +€1,740 | +6.0% |
| Suppliers | 440/4 | €29,080 | €30,820 | +€1,740 | +6.0% |
| Advances received on contracts in progress | 46 | €8,539 | €8,539 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €49,239 | €58,618 | +€9,379 | +19.0% |
| Taxes | 450/3 | €34,183 | €25,843 | -€8,340 | -24.4% |
| Remuneration and social security | 454/9 | €15,056 | €32,775 | +€17,719 | +118% |
| Other amounts payable | 47/48 | €48,800 | €57,510 | +€8,710 | +17.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €2,024 | €0 | -€2,024 | -100% |
| Remuneration, social security and pensions | 62 | €211,044 | €317,696 | +€106,652 | +50.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,779 | €32,746 | +€13,967 | +74.4% |
| Other operating charges | 640/8 | €14,934 | €11,410 | -€3,524 | -23.6% |
| Gross operating margin | 9900 | €302,204 | €401,243 | +€99,040 | +32.8% |
| Operating profit (loss) | 9901 | €57,446 | €39,392 | -€18,054 | -31.4% |
| Financial income | 75/76B | €599 | €23 | -€576 | -96.2% |
| Recurring financial income | 75 | €599 | €23 | -€576 | -96.2% |
| Financial charges | 65/66B | €4,998 | €7,664 | +€2,666 | +53.3% |
| Recurring financial charges | 65 | €4,998 | €7,664 | +€2,666 | +53.3% |
| Profit (loss) for the period before taxes | 9903 | €53,047 | €31,751 | -€21,296 | -40.1% |
| Income taxes | 67/77 | €8,072 | €7,785 | -€287 | -3.6% |
| Profit (loss) for the period | 9904 | €44,975 | €23,966 | -€21,009 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,975 | €23,966 | -€21,009 | -46.7% |
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 23 October 2026 via checked.be.