GULACO: 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.
GULACO
Largest movements
- Cash +€21,691
up €21,691 (+89.3%), from €24,297 to €45,988
mainly Net result for the year (+€25,536) and Trade debts (+€329)
- Profit (loss) carried forward +€25,536
up €25,536 (+15.2%), from -€167,616 to -€142,080
- Gross operating margin -€9,269
down €9,269 (-15.6%), from €59,373 to €50,104
- Other operating charges +€3,083
up €3,083 (+34.3%), from €8,991 to €12,074
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 | €1,028,490 | €1,053,091 | +€24,600 | +2.4% |
| Fixed assets | 21/28 | €990,251 | €990,251 | = | 0.0% |
| Tangible fixed assets | 22/27 | €990,251 | €990,251 | = | 0.0% |
| Land and buildings | 22 | €990,251 | €990,251 | = | 0.0% |
| Current assets | 29/58 | €38,239 | €62,839 | +€24,600 | +64.3% |
| Amounts receivable within one year | 40/41 | €12,386 | €15,221 | +€2,836 | +22.9% |
| Other amounts receivable | 41 | €12,386 | €15,221 | +€2,836 | +22.9% |
| Cash at bank and in hand | 54/58 | €24,297 | €45,988 | +€21,691 | +89.3% |
| Deferred charges and accrued income | 490/1 | €1,557 | €1,630 | +€74 | +4.7% |
| Total equity and liabilities | 10/49 | €1,028,490 | €1,053,091 | +€24,600 | +2.4% |
| Equity | 10/15 | €432,384 | €457,920 | +€25,536 | +5.9% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€167,616 | -€142,080 | +€25,536 | +15.2% |
| Amounts payable | 17/49 | €596,106 | €595,171 | -€936 | -0.2% |
| Amounts payable after more than one year | 17 | €580,644 | €580,035 | -€609 | -0.1% |
| Financial debts | 170/4 | €580,644 | €580,035 | -€609 | -0.1% |
| Amounts payable within one year | 42/48 | €14,526 | €15,136 | +€610 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €8,426 | €8,707 | +€281 | +3.3% |
| Trade debts | 44 | €0 | €329 | +€329 | |
| Suppliers | 440/4 | €0 | €329 | +€329 | |
| Other amounts payable | 47/48 | €6,100 | €6,100 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €937 | €0 | -€937 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €8,991 | €12,074 | +€3,083 | +34.3% |
| Gross operating margin | 9900 | €59,373 | €50,104 | -€9,269 | -15.6% |
| Operating profit (loss) | 9901 | €50,382 | €38,030 | -€12,351 | -24.5% |
| Financial income | 75/76B | €625 | €131 | -€495 | -79.1% |
| Recurring financial income | 75 | €625 | €131 | -€495 | -79.1% |
| Financial charges | 65/66B | €12,664 | €12,625 | -€38 | -0.3% |
| Recurring financial charges | 65 | €12,664 | €12,625 | -€38 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €38,344 | €25,536 | -€12,808 | -33.4% |
| Profit (loss) for the period | 9904 | €38,344 | €25,536 | -€12,808 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,344 | €25,536 | -€12,808 | -33.4% |
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 9 October 2026 via checked.be.