GULTAS A.: 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.
GULTAS A.
Largest movements
- Receivables within one year +€289,208
up €289,208 (+171.4%), from €168,701 to €457,909
of which Other amounts receivable: +€354,996
- Receivables after one year -€285,393
down €285,393 (-100.0%), from €285,393 to €0
- Stocks and contracts -€4,850
down €4,850 (-31.7%), from €15,315 to €10,465
- Profit (loss) carried forward +€42,350
up €42,350 (+24.6%), from €172,443 to €214,793
- Tax, wage and social debts -€30,964
down €30,964 (-46.1%), from €67,155 to €36,191
of which Taxes: -€23,875
- Trade debts -€7,433
down €7,433 (-4.7%), from €157,191 to €149,758
- Staff costs -€46,142
down €46,142 (-36.9%), from €124,896 to €78,754
- Financial income +€21,607
up €21,607 (+102745.2%), from €21 to €21,628
- Gross operating margin -€16,626
down €16,626 (-12.7%), from €131,292 to €114,665
- Financial charges -€9,007
down €9,007 (-77.2%), from €11,670 to €2,663
- Taxes +€5,871
up €5,871 (+2743.1%), from €214 to €6,085
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 | €476,984 | €475,717 | -€1,267 | -0.3% |
| Fixed assets | 21/28 | €1,184 | €1,106 | -€79 | -6.6% |
| Tangible fixed assets | 22/27 | €1,135 | €1,056 | -€79 | -6.9% |
| Plant, machinery and equipment | 23 | €63 | €0 | -€63 | -100.0% |
| Furniture and vehicles | 24 | €1,071 | €1,056 | -€15 | -1.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €475,800 | €474,612 | -€1,189 | -0.2% |
| Amounts receivable after more than one year | 29 | €285,393 | €0 | -€285,393 | -100.0% |
| Other amounts receivable | 291 | €285,393 | €0 | -€285,393 | -100.0% |
| Stocks and contracts in progress | 3 | €15,315 | €10,465 | -€4,850 | -31.7% |
| Stocks | 30/36 | €15,315 | €10,465 | -€4,850 | -31.7% |
| Amounts receivable within one year | 40/41 | €168,701 | €457,909 | +€289,208 | +171.4% |
| Trade receivables | 40 | €110,441 | €44,652 | -€65,788 | -59.6% |
| Other amounts receivable | 41 | €58,261 | €413,257 | +€354,996 | +609.3% |
| Cash at bank and in hand | 54/58 | €4,532 | €4,431 | -€101 | -2.2% |
| Deferred charges and accrued income | 490/1 | €1,860 | €1,807 | -€53 | -2.8% |
| Total equity and liabilities | 10/49 | €476,984 | €475,717 | -€1,267 | -0.3% |
| Equity | 10/15 | €245,146 | €287,496 | +€42,350 | +17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €54,103 | €54,103 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €14,744 | €14,744 | = | 0.0% |
| Profit (loss) carried forward | 14 | €172,443 | €214,793 | +€42,350 | +24.6% |
| Amounts payable | 17/49 | €231,839 | €188,221 | -€43,618 | -18.8% |
| Amounts payable within one year | 42/48 | €229,990 | €187,890 | -€42,100 | -18.3% |
| Trade debts | 44 | €157,191 | €149,758 | -€7,433 | -4.7% |
| Suppliers | 440/4 | €157,191 | €149,758 | -€7,433 | -4.7% |
| Advances received on contracts in progress | 46 | - | €234 | +€234 | |
| Taxes, remuneration and social security | 45 | €67,155 | €36,191 | -€30,964 | -46.1% |
| Taxes | 450/3 | €40,634 | €16,758 | -€23,875 | -58.8% |
| Remuneration and social security | 454/9 | €26,521 | €19,433 | -€7,088 | -26.7% |
| Other amounts payable | 47/48 | €5,644 | €1,707 | -€3,938 | -69.8% |
| Accrued charges and deferred income | 492/3 | €1,849 | €331 | -€1,517 | -82.1% |
| Remuneration, social security and pensions | 62 | €124,896 | €78,754 | -€46,142 | -36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,630 | €1,339 | -€1,290 | -49.1% |
| Other operating charges | 640/8 | €4,634 | €5,102 | +€468 | +10.1% |
| Gross operating margin | 9900 | €131,292 | €114,665 | -€16,626 | -12.7% |
| Operating profit (loss) | 9901 | -€869 | €29,470 | +€30,339 | |
| Financial income | 75/76B | €21 | €21,628 | +€21,607 | +102745.2% |
| Recurring financial income | 75 | €21 | €21,628 | +€21,607 | +102745.2% |
| Financial charges | 65/66B | €11,670 | €2,663 | -€9,007 | -77.2% |
| Recurring financial charges | 65 | €11,670 | €2,663 | -€9,007 | -77.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,518 | €48,435 | +€60,953 | |
| Income taxes | 67/77 | €214 | €6,085 | +€5,871 | +2743.1% |
| Profit (loss) for the period | 9904 | -€12,732 | €42,350 | +€55,082 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,732 | €42,350 | +€55,082 |
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.