GULZIG: what changed
Two fiscal 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.
GULZIG
Largest movements
- Receivables within one year -€20,914
down €20,914 (-40.1%), from €52,112 to €31,197
of which Trade receivables: -€20,914
- Tangible fixed assets -€6,264
down €6,264 (-22.7%), from €27,633 to €21,369
of which Other tangible fixed assets: -€5,355
- Stocks and contracts -€4,464
down €4,464 (-83.2%), from €5,363 to €899
- Deferred charges and accrued income +€1,718
up €1,718 (+162.2%), from €1,060 to €2,778
- Trade debts -€37,597
down €37,597 (-34.9%), from €107,869 to €70,272
- Profit (loss) carried forward +€21,564
up €21,564 (+20.7%), from -€104,230 to -€82,666
- Current portion of long-term debt -€10,434
down €10,434 (-100.0%), from €10,434 to €0
- Tax, wage and social debts -€4,806
down €4,806 (-22.6%), from €21,227 to €16,422
of which Remuneration and social security: -€6,534
- Other debts +€1,366
up €1,366 (+22.3%), from €6,134 to €7,500
- Gross operating margin +€35,695
up €35,695 (+51.5%), from €69,356 to €105,052
- Staff costs -€23,557
down €23,557 (-24.9%), from €94,489 to €70,932
- Other operating charges -€2,288
down €2,288 (-65.3%), from €3,505 to €1,217
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 | €93,035 | €63,570 | -€29,465 | -31.7% |
| Fixed assets | 21/28 | €32,471 | €26,196 | -€6,274 | -19.3% |
| Intangible fixed assets | 21 | €1,978 | €1,967 | -€10 | -0.5% |
| Tangible fixed assets | 22/27 | €27,633 | €21,369 | -€6,264 | -22.7% |
| Plant, machinery and equipment | 23 | €1,933 | €724 | -€1,209 | -62.5% |
| Furniture and vehicles | 24 | €852 | €1,151 | +€299 | +35.1% |
| Other tangible fixed assets | 26 | €24,848 | €19,494 | -€5,355 | -21.5% |
| Financial fixed assets | 28 | €2,860 | €2,860 | = | 0.0% |
| Current assets | 29/58 | €60,564 | €37,373 | -€23,190 | -38.3% |
| Stocks and contracts in progress | 3 | €5,363 | €899 | -€4,464 | -83.2% |
| Stocks | 30/36 | €5,363 | €899 | -€4,464 | -83.2% |
| Amounts receivable within one year | 40/41 | €52,112 | €31,197 | -€20,914 | -40.1% |
| Trade receivables | 40 | €40,255 | €19,341 | -€20,914 | -52.0% |
| Other amounts receivable | 41 | €11,856 | €11,856 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,029 | €2,499 | +€470 | +23.1% |
| Deferred charges and accrued income | 490/1 | €1,060 | €2,778 | +€1,718 | +162.2% |
| Total equity and liabilities | 10/49 | €93,035 | €63,570 | -€29,465 | -31.7% |
| Equity | 10/15 | -€55,630 | -€34,066 | +€21,564 | +38.8% |
| Contributions | 10/11 | €48,600 | €48,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,230 | -€82,666 | +€21,564 | +20.7% |
| Amounts payable | 17/49 | €148,665 | €97,635 | -€51,029 | -34.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €148,665 | €97,194 | -€51,471 | -34.6% |
| Current portion of amounts payable after more than one year | 42 | €10,434 | €0 | -€10,434 | -100.0% |
| Financial debts | 43 | €3,000 | €3,000 | = | 0.0% |
| Other loans | 439 | €3,000 | €3,000 | = | 0.0% |
| Trade debts | 44 | €107,869 | €70,272 | -€37,597 | -34.9% |
| Suppliers | 440/4 | €107,869 | €70,272 | -€37,597 | -34.9% |
| Taxes, remuneration and social security | 45 | €21,227 | €16,422 | -€4,806 | -22.6% |
| Taxes | 450/3 | €4,266 | €5,995 | +€1,728 | +40.5% |
| Remuneration and social security | 454/9 | €16,961 | €10,427 | -€6,534 | -38.5% |
| Other amounts payable | 47/48 | €6,134 | €7,500 | +€1,366 | +22.3% |
| Accrued charges and deferred income | 492/3 | - | €441 | +€441 | |
| Remuneration, social security and pensions | 62 | €94,489 | €70,932 | -€23,557 | -24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,487 | €9,298 | -€189 | -2.0% |
| Other operating charges | 640/8 | €3,505 | €1,217 | -€2,288 | -65.3% |
| Gross operating margin | 9900 | €69,356 | €105,052 | +€35,695 | +51.5% |
| Operating profit (loss) | 9901 | -€38,125 | €23,605 | +€61,729 | |
| Financial income | 75/76B | €641 | €206 | -€435 | -67.8% |
| Recurring financial income | 75 | €641 | €206 | -€435 | -67.8% |
| Financial charges | 65/66B | €1,864 | €2,247 | +€383 | +20.5% |
| Recurring financial charges | 65 | €1,864 | €2,247 | +€383 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | -€39,347 | €21,564 | +€60,911 | |
| Profit (loss) for the period | 9904 | -€39,347 | €21,564 | +€60,911 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,347 | €21,564 | +€60,911 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.