GULDEN TAS: 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.
GULDEN TAS
Largest movements
- Tangible fixed assets -€16,092
down €16,092 (-18.0%), from €89,392 to €73,300
- Stocks and contracts +€7,868
up €7,868 (+15.6%), from €50,561 to €58,429
- Receivables within one year +€5,371
up €5,371 (+23.6%), from €22,728 to €28,099
of which Trade receivables: +€3,428
- Cash -€3,710
down €3,710 (-4.7%), from €79,121 to €75,411
mainly Stocks and contracts (-€7,868) and Tax, wage and social debts (-€7,540)
- Tax, wage and social debts -€7,540
down €7,540 (-100%), from €7,540 to €0
- Gross operating margin -€14,860
down €14,860 (-40.5%), from €36,660 to €21,800
- Taxes -€3,319
down €3,319 (-86.8%), from €3,825 to €506
- Depreciation -€1,408
down €1,408 (-7.4%), from €18,963 to €17,555
- Financial income +€444
up €444 (+45.1%), from €986 to €1,430
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 | €244,565 | €238,363 | -€6,202 | -2.5% |
| Fixed assets | 21/28 | €89,892 | €73,800 | -€16,092 | -17.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €89,392 | €73,300 | -€16,092 | -18.0% |
| Land and buildings | 22 | €59,695 | €53,564 | -€6,131 | -10.3% |
| Plant, machinery and equipment | 23 | €26,499 | €19,356 | -€7,142 | -27.0% |
| Furniture and vehicles | 24 | €3,198 | €380 | -€2,818 | -88.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €154,673 | €164,563 | +€9,890 | +6.4% |
| Stocks and contracts in progress | 3 | €50,561 | €58,429 | +€7,868 | +15.6% |
| Stocks | 30/36 | €50,561 | €58,429 | +€7,868 | +15.6% |
| Amounts receivable within one year | 40/41 | €22,728 | €28,099 | +€5,371 | +23.6% |
| Trade receivables | 40 | €17,607 | €21,035 | +€3,428 | +19.5% |
| Other amounts receivable | 41 | €5,121 | €7,064 | +€1,944 | +38.0% |
| Cash at bank and in hand | 54/58 | €79,121 | €75,411 | -€3,710 | -4.7% |
| Deferred charges and accrued income | 490/1 | €2,264 | €2,625 | +€360 | +15.9% |
| Total equity and liabilities | 10/49 | €244,565 | €238,363 | -€6,202 | -2.5% |
| Equity | 10/15 | €185,680 | €187,420 | +€1,740 | +0.9% |
| Contributions | 10/11 | €15,007 | €15,007 | = | 0.0% |
| Reserves | 13 | €170,673 | €172,412 | +€1,740 | +1.0% |
| Distributable reserves | 133 | €170,673 | €172,412 | +€1,740 | +1.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €58,885 | €50,943 | -€7,942 | -13.5% |
| Amounts payable within one year | 42/48 | €58,675 | €50,733 | -€7,942 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €8,675 | €8,273 | -€402 | -4.6% |
| Suppliers | 440/4 | €8,675 | €8,273 | -€402 | -4.6% |
| Taxes, remuneration and social security | 45 | €7,540 | €0 | -€7,540 | -100% |
| Taxes | 450/3 | €7,540 | €0 | -€7,540 | -100% |
| Other amounts payable | 47/48 | €42,460 | €42,460 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €210 | €210 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,963 | €17,555 | -€1,408 | -7.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €215 | +€215 | |
| Other operating charges | 640/8 | €2,724 | €3,074 | +€351 | +12.9% |
| Gross operating margin | 9900 | €36,660 | €21,800 | -€14,860 | -40.5% |
| Operating profit (loss) | 9901 | €14,973 | €956 | -€14,017 | -93.6% |
| Financial income | 75/76B | €986 | €1,430 | +€444 | +45.1% |
| Recurring financial income | 75 | €986 | €1,430 | +€444 | +45.1% |
| Financial charges | 65/66B | €209 | €140 | -€69 | -33.0% |
| Recurring financial charges | 65 | €209 | €140 | -€69 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | €15,750 | €2,246 | -€13,504 | -85.7% |
| Income taxes | 67/77 | €3,825 | €506 | -€3,319 | -86.8% |
| Profit (loss) for the period | 9904 | €11,925 | €1,740 | -€10,185 | -85.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,925 | €1,740 | -€10,185 | -85.4% |
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 22 October 2026 via checked.be.