GUINIVAL: 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.
GUINIVAL
Largest movements
- Current investments +€244,806
up €244,806 (+10.2%), from €2.4m to €2.6m
- Receivables within one year -€64,591
down €64,591 (-32.4%), from €199,585 to €134,995
of which Trade receivables: -€171,377
- Tangible fixed assets -€41,195
down €41,195 (-4.5%), from €916,010 to €874,815
of which Plant, machinery and equipment: -€33,052
- Reserves +€280,195
up €280,195 (+11.4%), from €2.5m to €2.7m
of which Distributable reserves: +€156,000
- Tax, wage and social debts -€80,285
down €80,285 (-89.0%), from €90,236 to €9,951
of which Taxes: -€79,640
- Other debts -€58,429
down €58,429 (-18.7%), from €312,540 to €254,112
- Gross operating margin -€46,694
down €46,694 (-9.7%), from €482,839 to €436,145
- Taxes -€28,955
down €28,955 (-20.3%), from €142,942 to €113,987
- Financial income +€22,545
up €22,545 (+36.8%), from €61,230 to €83,775
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 | €3,677,464 | €3,817,317 | +€139,853 | +3.8% |
| Fixed assets | 21/28 | €916,212 | €875,017 | -€41,195 | -4.5% |
| Tangible fixed assets | 22/27 | €916,010 | €874,815 | -€41,195 | -4.5% |
| Land and buildings | 22 | €501,461 | €484,318 | -€17,143 | -3.4% |
| Plant, machinery and equipment | 23 | €364,433 | €331,382 | -€33,052 | -9.1% |
| Furniture and vehicles | 24 | €50,116 | €59,116 | +€9,000 | +18.0% |
| Financial fixed assets | 28 | €202 | €202 | = | 0.0% |
| Current assets | 29/58 | €2,761,252 | €2,942,300 | +€181,047 | +6.6% |
| Amounts receivable within one year | 40/41 | €199,585 | €134,995 | -€64,591 | -32.4% |
| Trade receivables | 40 | €193,285 | €21,908 | -€171,377 | -88.7% |
| Other amounts receivable | 41 | €6,300 | €113,086 | +€106,786 | +1,695% |
| Current investments | 50/53 | €2,395,441 | €2,640,247 | +€244,806 | +10.2% |
| Cash at bank and in hand | 54/58 | €163,965 | €165,773 | +€1,808 | +1.1% |
| Deferred charges and accrued income | 490/1 | €2,261 | €1,285 | -€976 | -43.2% |
| Total equity and liabilities | 10/49 | €3,677,464 | €3,817,317 | +€139,853 | +3.8% |
| Equity | 10/15 | €3,266,315 | €3,546,510 | +€280,195 | +8.6% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €2,463,869 | €2,744,064 | +€280,195 | +11.4% |
| Tax-exempt reserves | 132 | €463,100 | €587,295 | +€124,195 | +26.8% |
| Distributable reserves | 133 | €2,000,769 | €2,156,769 | +€156,000 | +7.8% |
| Profit (loss) carried forward | 14 | €794,386 | €794,386 | = | 0.0% |
| Amounts payable | 17/49 | €411,149 | €270,807 | -€140,342 | -34.1% |
| Amounts payable within one year | 42/48 | €404,525 | €264,062 | -€140,463 | -34.7% |
| Trade debts | 44 | €1,749 | - | -€1,749 | |
| Suppliers | 440/4 | €1,749 | - | -€1,749 | |
| Taxes, remuneration and social security | 45 | €90,236 | €9,951 | -€80,285 | -89.0% |
| Taxes | 450/3 | €83,760 | €4,120 | -€79,640 | -95.1% |
| Remuneration and social security | 454/9 | €6,476 | €5,830 | -€645 | -10.0% |
| Other amounts payable | 47/48 | €312,540 | €254,112 | -€58,429 | -18.7% |
| Accrued charges and deferred income | 492/3 | €6,625 | €6,745 | +€120 | +1.8% |
| Remuneration, social security and pensions | 62 | €45,386 | €43,916 | -€1,471 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,266 | €68,261 | +€1,995 | +3.0% |
| Other operating charges | 640/8 | €5,213 | €5,307 | +€94 | +1.8% |
| Gross operating margin | 9900 | €482,839 | €436,145 | -€46,694 | -9.7% |
| Operating profit (loss) | 9901 | €365,974 | €318,662 | -€47,312 | -12.9% |
| Financial income | 75/76B | €61,230 | €83,775 | +€22,545 | +36.8% |
| Recurring financial income | 75 | €61,230 | €83,775 | +€22,545 | +36.8% |
| Financial charges | 65/66B | €8,830 | €8,255 | -€575 | -6.5% |
| Recurring financial charges | 65 | €8,830 | €8,255 | -€575 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €418,374 | €394,182 | -€24,192 | -5.8% |
| Transfer to deferred taxes | 680 | - | €155,770 | +€155,770 | |
| Income taxes | 67/77 | €142,942 | €113,987 | -€28,955 | -20.3% |
| Profit (loss) for the period | 9904 | €275,431 | €124,425 | -€151,006 | -54.8% |
| Transfer from tax-exempt reserves | 789 | €201,340 | €31,575 | -€169,765 | -84.3% |
| Transfer to tax-exempt reserves | 689 | €71,570 | - | -€71,570 | |
| Profit (loss) for the period to be appropriated | 9905 | €405,201 | €156,000 | -€249,201 | -61.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.