GUIMAX: 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.
GUIMAX
Largest movements
- Current investments -€250,000
down €250,000 (-100%), from €250,000 to €0
- Cash +€147,183
up €147,183 (+174%), from €84,413 to €231,596
mainly Current investments (+€250,000) and Depreciation (+€65,705)
- Tangible fixed assets -€25,972
down €25,972 (-2.5%), from €1.0m to €1.0m
of which Land and buildings: -€27,464
- Receivables within one year -€17,407
down €17,407 (-25.7%), from €67,771 to €50,364
of which Other amounts receivable: -€17,407
- Stocks and contracts +€15,000
new in 2025: €15,000
- Other debts -€112,000
down €112,000 (-100%), from €112,000 to €0
- Trade debts -€20,484
down €20,484 (-96.4%), from €21,240 to €756
- Gross operating margin -€42,494
down €42,494 (-46.1%), from €92,205 to €49,711
- Depreciation +€15,424
up €15,424 (+30.7%), from €50,281 to €65,705
- Taxes -€9,841
down €9,841 (-69.0%), from €14,272 to €4,431
- Other operating charges -€1,561
down €1,561 (-30.9%), from €5,052 to €3,490
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 | €1,465,062 | €1,329,415 | -€135,647 | -9.3% |
| Fixed assets | 21/28 | €1,037,410 | €1,011,438 | -€25,972 | -2.5% |
| Tangible fixed assets | 22/27 | €1,037,410 | €1,011,438 | -€25,972 | -2.5% |
| Land and buildings | 22 | €644,186 | €616,722 | -€27,464 | -4.3% |
| Plant, machinery and equipment | 23 | €3,287 | €9,038 | +€5,751 | +175% |
| Furniture and vehicles | 24 | €277,660 | €259,107 | -€18,554 | -6.7% |
| Other tangible fixed assets | 26 | €112,276 | €126,571 | +€14,295 | +12.7% |
| Current assets | 29/58 | €427,653 | €317,977 | -€109,675 | -25.6% |
| Stocks and contracts in progress | 3 | - | €15,000 | +€15,000 | |
| Contracts in progress | 37 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €67,771 | €50,364 | -€17,407 | -25.7% |
| Trade receivables | 40 | €30,250 | €30,250 | = | 0.0% |
| Other amounts receivable | 41 | €37,521 | €20,114 | -€17,407 | -46.4% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100% |
| Cash at bank and in hand | 54/58 | €84,413 | €231,596 | +€147,183 | +174% |
| Deferred charges and accrued income | 490/1 | €25,468 | €21,018 | -€4,451 | -17.5% |
| Total equity and liabilities | 10/49 | €1,465,062 | €1,329,415 | -€135,647 | -9.3% |
| Equity | 10/15 | €1,321,869 | €1,317,294 | -€4,575 | -0.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,061,602 | €1,061,602 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,710 | €9,710 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,710 | €9,710 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,892 | €44,892 | = | 0.0% |
| Distributable reserves | 133 | €1,007,000 | €1,007,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €240,267 | €235,692 | -€4,575 | -1.9% |
| Amounts payable | 17/49 | €143,193 | €12,121 | -€131,073 | -91.5% |
| Amounts payable within one year | 42/48 | €142,908 | €11,686 | -€131,223 | -91.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €21,240 | €756 | -€20,484 | -96.4% |
| Suppliers | 440/4 | €21,240 | €756 | -€20,484 | -96.4% |
| Taxes, remuneration and social security | 45 | €9,669 | €10,929 | +€1,261 | +13.0% |
| Taxes | 450/3 | €9,669 | €10,929 | +€1,261 | +13.0% |
| Other amounts payable | 47/48 | €112,000 | €0 | -€112,000 | -100% |
| Accrued charges and deferred income | 492/3 | €285 | €435 | +€150 | +52.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,281 | €65,705 | +€15,424 | +30.7% |
| Other operating charges | 640/8 | €5,052 | €3,490 | -€1,561 | -30.9% |
| Gross operating margin | 9900 | €92,205 | €49,711 | -€42,494 | -46.1% |
| Operating profit (loss) | 9901 | €36,872 | -€19,484 | -€56,356 | |
| Financial income | 75/76B | €19,457 | €19,914 | +€457 | +2.3% |
| Recurring financial income | 75 | €19,457 | €19,914 | +€457 | +2.3% |
| Financial charges | 65/66B | €323 | €573 | +€251 | +77.7% |
| Recurring financial charges | 65 | €323 | €573 | +€251 | +77.7% |
| Profit (loss) for the period before taxes | 9903 | €56,007 | -€143 | -€56,150 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €14,272 | €4,431 | -€9,841 | -69.0% |
| Profit (loss) for the period | 9904 | €41,734 | -€4,575 | -€46,309 | |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €41,734 | -€4,575 | -€46,309 |
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 24 October 2026 via checked.be.