GUIMAHE: 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.
GUIMAHE
Largest movements
- Current investments +€1.3m
new in 2025: €1.3m
- Cash -€799,209
down €799,209 (-82.9%), from €964,460 to €165,251
mainly Current investments (-€1.3m) and Receivables within one year (-€105,242)
- Receivables within one year +€105,242
up €105,242 (+30.6%), from €343,631 to €448,872
of which Trade receivables: +€106,311
- Tangible fixed assets -€67,671
down €67,671 (-4.5%), from €1.5m to €1.4m
of which Land and buildings: -€60,445
- Reserves +€505,021
up €505,021 (+24.3%), from €2.1m to €2.6m
- Tax, wage and social debts +€86,559
up €86,559 (+80.7%), from €107,225 to €193,784
of which Taxes: +€191,445
- Debts after one year -€85,616
down €85,616 (-18.2%), from €470,437 to €384,821
- Trade debts +€56,511
up €56,511 (+391%), from €14,467 to €70,977
- Gross operating margin +€373,809
up €373,809 (+55.1%), from €678,927 to €1.1m
- Taxes +€255,024
up €255,024 (+141%), from €180,774 to €435,798
- Purchases and services +€54,753
up €54,753 (+5.5%), from €987,987 to €1.0m
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 | €2,802,601 | €3,345,933 | +€543,333 | +19.4% |
| Fixed assets | 21/28 | €1,492,005 | €1,424,335 | -€67,671 | -4.5% |
| Tangible fixed assets | 22/27 | €1,492,005 | €1,424,335 | -€67,671 | -4.5% |
| Land and buildings | 22 | €1,478,521 | €1,418,076 | -€60,445 | -4.1% |
| Plant, machinery and equipment | 23 | €3,703 | €2,980 | -€722 | -19.5% |
| Furniture and vehicles | 24 | €4,165 | €3,278 | -€886 | -21.3% |
| Leasing and similar rights | 25 | €5,617 | - | -€5,617 | |
| Current assets | 29/58 | €1,310,595 | €1,921,598 | +€611,003 | +46.6% |
| Amounts receivable within one year | 40/41 | €343,631 | €448,872 | +€105,242 | +30.6% |
| Trade receivables | 40 | €342,562 | €448,872 | +€106,311 | +31.0% |
| Other amounts receivable | 41 | €1,069 | - | -€1,069 | |
| Current investments | 50/53 | - | €1,304,121 | +€1.3m | |
| Cash at bank and in hand | 54/58 | €964,460 | €165,251 | -€799,209 | -82.9% |
| Deferred charges and accrued income | 490/1 | €2,504 | €3,354 | +€849 | +33.9% |
| Total equity and liabilities | 10/49 | €2,802,601 | €3,345,933 | +€543,333 | +19.4% |
| Equity | 10/15 | €2,100,644 | €2,605,665 | +€505,021 | +24.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,082,044 | €2,587,065 | +€505,021 | +24.3% |
| Distributable reserves | 133 | €2,082,044 | €2,587,065 | +€505,021 | +24.3% |
| Amounts payable | 17/49 | €701,957 | €740,268 | +€38,311 | +5.5% |
| Amounts payable after more than one year | 17 | €470,437 | €384,821 | -€85,616 | -18.2% |
| Financial debts | 170/4 | €470,437 | €384,821 | -€85,616 | -18.2% |
| Amounts payable within one year | 42/48 | €228,911 | €355,447 | +€126,536 | +55.3% |
| Current portion of amounts payable after more than one year | 42 | €98,281 | €85,616 | -€12,665 | -12.9% |
| Trade debts | 44 | €14,467 | €70,977 | +€56,511 | +391% |
| Suppliers | 440/4 | €14,467 | €70,977 | +€56,511 | +391% |
| Taxes, remuneration and social security | 45 | €107,225 | €193,784 | +€86,559 | +80.7% |
| Taxes | 450/3 | - | €191,445 | +€191,445 | |
| Remuneration and social security | 454/9 | €107,225 | €2,339 | -€104,885 | -97.8% |
| Other amounts payable | 47/48 | €8,939 | €5,070 | -€3,869 | -43.3% |
| Accrued charges and deferred income | 492/3 | €2,609 | - | -€2,609 | |
| Goods, raw materials, services and sundry goods | 60/61 | €987,987 | €1,042,741 | +€54,753 | +5.5% |
| Remuneration, social security and pensions | 62 | €46,174 | €43,217 | -€2,957 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,675 | €69,391 | -€10,284 | -12.9% |
| Other operating charges | 640/8 | €5,778 | €6,284 | +€506 | +8.8% |
| Gross operating margin | 9900 | €678,927 | €1,052,736 | +€373,809 | +55.1% |
| Operating profit (loss) | 9901 | €547,300 | €933,844 | +€386,544 | +70.6% |
| Financial income | 75/76B | €12,098 | €14,824 | +€2,726 | +22.5% |
| Recurring financial income | 75 | €12,098 | €14,824 | +€2,726 | +22.5% |
| Financial charges | 65/66B | €6,378 | €7,849 | +€1,471 | +23.1% |
| Recurring financial charges | 65 | €6,378 | €7,849 | +€1,471 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €553,020 | €940,819 | +€387,799 | +70.1% |
| Income taxes | 67/77 | €180,774 | €435,798 | +€255,024 | +141% |
| Profit (loss) for the period | 9904 | €372,247 | €505,021 | +€132,775 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €372,247 | €505,021 | +€132,775 | +35.7% |
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 15 October 2026 via checked.be.