GULER TRANS: what changed
GULER TRANS
Largest movements
- Receivables within one year +€62,224
up €62,224 (+38.6%), from €161,126 to €223,350
of which Trade receivables: +€60,056
- Cash -€10,297
down €10,297 (-57.0%), from €18,058 to €7,761
mainly Receivables within one year (-€62,224) and Investment in fixed assets (net) (-€60,842)
- Tax, wage and social debts +€37,840
up €37,840 (+52.5%), from €72,109 to €109,949
of which Taxes: +€19,117
- Other debts +€30,499
up €30,499 (+9,734%), from €313 to €30,812
- Current portion of long-term debt -€12,560
down €12,560 (-27.8%), from €45,102 to €32,542
- Debts after one year -€10,015
down €10,015 (-12.7%), from €78,737 to €68,722
of which Financial debts: -€10,015
- Profit (loss) carried forward +€4,511
up €4,511 (+5.1%), from €88,093 to €92,603
- Turnover +€155,109
up €155,109 (+15.5%), from €999,751 to €1.2m
- Purchases and services +€93,291
up €93,291 (+13.0%), from €718,830 to €812,120
- Staff costs +€65,829
up €65,829 (+34.9%), from €188,806 to €254,634
- Gross operating margin +€61,819
up €61,819 (+22.0%), from €280,922 to €342,740
- Financial charges -€16,358
down €16,358 (-76.5%), from €21,376 to €5,017
of which Non-recurring financial charges: -€11,647
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €369,987 | €420,907 | +€50,921 | +13.8% |
| Fixed assets | 21/28 | €190,802 | €189,796 | -€1,006 | -0.5% |
| Tangible fixed assets | 22/27 | €128,798 | €127,791 | -€1,006 | -0.8% |
| Plant, machinery and equipment | 23 | €826 | €413 | -€413 | -50.0% |
| Furniture and vehicles | 24 | €33,677 | €43,479 | +€9,801 | +29.1% |
| Leasing and similar rights | 25 | €78,824 | €67,378 | -€11,447 | -14.5% |
| Other tangible fixed assets | 26 | €15,470 | €16,522 | +€1,052 | +6.8% |
| Financial fixed assets | 28 | €62,005 | €62,005 | = | 0.0% |
| Current assets | 29/58 | €179,184 | €231,111 | +€51,927 | +29.0% |
| Amounts receivable within one year | 40/41 | €161,126 | €223,350 | +€62,224 | +38.6% |
| Trade receivables | 40 | €161,126 | €221,182 | +€60,056 | +37.3% |
| Other amounts receivable | 41 | - | €2,168 | +€2,168 | |
| Cash at bank and in hand | 54/58 | €18,058 | €7,761 | -€10,297 | -57.0% |
| Total equity and liabilities | 10/49 | €369,987 | €420,907 | +€50,921 | +13.8% |
| Equity | 10/15 | €108,553 | €113,063 | +€4,511 | +4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,093 | €92,603 | +€4,511 | +5.1% |
| Amounts payable | 17/49 | €261,434 | €307,844 | +€46,410 | +17.8% |
| Amounts payable after more than one year | 17 | €78,737 | €68,722 | -€10,015 | -12.7% |
| Financial debts | 170/4 | €38,737 | €28,722 | -€10,015 | -25.9% |
| Other amounts payable | 178/9 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €182,697 | €239,122 | +€56,425 | +30.9% |
| Current portion of amounts payable after more than one year | 42 | €45,102 | €32,542 | -€12,560 | -27.8% |
| Trade debts | 44 | €59,123 | €59,769 | +€646 | +1.1% |
| Suppliers | 440/4 | €59,123 | €59,769 | +€646 | +1.1% |
| Advances received on contracts in progress | 46 | €6,050 | €6,050 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €72,109 | €109,949 | +€37,840 | +52.5% |
| Taxes | 450/3 | €44,418 | €63,535 | +€19,117 | +43.0% |
| Remuneration and social security | 454/9 | €27,691 | €46,414 | +€18,723 | +67.6% |
| Other amounts payable | 47/48 | €313 | €30,812 | +€30,499 | +9,734% |
| Turnover | 70 | €999,751 | €1,154,861 | +€155,109 | +15.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €718,830 | €812,120 | +€93,291 | +13.0% |
| Remuneration, social security and pensions | 62 | €188,806 | €254,634 | +€65,829 | +34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,047 | €61,849 | +€10,801 | +21.2% |
| Other operating charges | 640/8 | €11,844 | €2,571 | -€9,273 | -78.3% |
| Gross operating margin | 9900 | €280,922 | €342,740 | +€61,819 | +22.0% |
| Operating profit (loss) | 9901 | €29,225 | €23,687 | -€5,538 | -18.9% |
| Financial income | 75/76B | €9,696 | €12 | -€9,684 | -99.9% |
| Recurring financial income | 75 | €27 | €12 | -€15 | -54.5% |
| Non-recurring financial income | 76B | €9,669 | - | -€9,669 | |
| Financial charges | 65/66B | €21,376 | €5,017 | -€16,358 | -76.5% |
| Recurring financial charges | 65 | €9,729 | €5,017 | -€4,711 | -48.4% |
| Non-recurring financial charges | 66B | €11,647 | - | -€11,647 | |
| Profit (loss) for the period before taxes | 9903 | €17,545 | €18,682 | +€1,137 | +6.5% |
| Income taxes | 67/77 | €22,977 | €14,171 | -€8,806 | -38.3% |
| Profit (loss) for the period | 9904 | -€5,432 | €4,511 | +€9,942 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,432 | €4,511 | +€9,942 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.