GULTEKIN GROUP: 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.
GULTEKIN GROUP
Largest movements
- Receivables within one year -€10,338
down €10,338 (-52.7%), from €19,635 to €9,297
of which Trade receivables: -€10,338
- Stocks and contracts +€9,510
new in 2025: €9,510
- Financial fixed assets +€2,500
new in 2025: €2,500
- Cash -€934
down €934 (-99.6%), from €938 to €3
mainly Advances received (-€14,731) and Stocks and contracts (-€9,510)
- Other debts +€15,256
up €15,256 (+3,041%), from €502 to €15,758
- Advances received -€14,731
down €14,731 (-89.2%), from €16,512 to €1,781
- Trade debts +€6,050
up €6,050 (+337%), from €1,796 to €7,846
- Profit (loss) carried forward -€4,548
down €4,548 (-480%), from -€947 to -€5,495
- Tax, wage and social debts -€1,380
down €1,380 (-67.2%), from €2,053 to €673
- Gross operating margin -€5,679
down €5,679, from €1,854 to -€3,825
- Depreciation -€1,180
down €1,180 (-92.8%), from €1,272 to €91
- Taxes -€489
down €489 (-87.3%), from €561 to €71
- Other operating charges -€224
down €224 (-30.8%), from €729 to €505
- Staff costs -€181
no longer reported in 2025 (was €181)
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 | €20,916 | €21,562 | +€647 | +3.1% |
| Fixed assets | 21/28 | €343 | €2,752 | +€2,409 | +703% |
| Tangible fixed assets | 22/27 | €343 | €252 | -€91 | -26.6% |
| Furniture and vehicles | 24 | €343 | €252 | -€91 | -26.6% |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €20,573 | €18,811 | -€1,762 | -8.6% |
| Stocks and contracts in progress | 3 | - | €9,510 | +€9,510 | |
| Stocks | 30/36 | - | €9,510 | +€9,510 | |
| Amounts receivable within one year | 40/41 | €19,635 | €9,297 | -€10,338 | -52.7% |
| Trade receivables | 40 | €18,635 | €8,297 | -€10,338 | -55.5% |
| Other amounts receivable | 41 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €938 | €3 | -€934 | -99.6% |
| Total equity and liabilities | 10/49 | €20,916 | €21,562 | +€647 | +3.1% |
| Equity | 10/15 | €53 | -€4,495 | -€4,548 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€947 | -€5,495 | -€4,548 | -480% |
| Amounts payable | 17/49 | €20,863 | €26,058 | +€5,195 | +24.9% |
| Amounts payable within one year | 42/48 | €20,863 | €26,058 | +€5,195 | +24.9% |
| Trade debts | 44 | €1,796 | €7,846 | +€6,050 | +337% |
| Suppliers | 440/4 | €1,796 | €7,846 | +€6,050 | +337% |
| Advances received on contracts in progress | 46 | €16,512 | €1,781 | -€14,731 | -89.2% |
| Taxes, remuneration and social security | 45 | €2,053 | €673 | -€1,380 | -67.2% |
| Taxes | 450/3 | €2,053 | €673 | -€1,380 | -67.2% |
| Other amounts payable | 47/48 | €502 | €15,758 | +€15,256 | +3,041% |
| Remuneration, social security and pensions | 62 | €181 | - | -€181 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,272 | €91 | -€1,180 | -92.8% |
| Other operating charges | 640/8 | €729 | €505 | -€224 | -30.8% |
| Gross operating margin | 9900 | €1,854 | -€3,825 | -€5,679 | |
| Operating profit (loss) | 9901 | -€327 | -€4,421 | -€4,094 | -1,252% |
| Financial income | 75/76B | €0 | €1 | +€1 | +1,700% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1,700% |
| Financial charges | 65/66B | €60 | €56 | -€4 | -6.3% |
| Recurring financial charges | 65 | €60 | €56 | -€4 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | -€387 | -€4,477 | -€4,090 | -1,057% |
| Income taxes | 67/77 | €561 | €71 | -€489 | -87.3% |
| Profit (loss) for the period | 9904 | -€947 | -€4,548 | -€3,600 | -380% |
| Profit (loss) for the period to be appropriated | 9905 | -€947 | -€4,548 | -€3,600 | -380% |
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 23 October 2026 via checked.be.