GUM: 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.
GUM
Largest movements
- Tangible fixed assets -€48,158
down €48,158 (-25.9%), from €186,207 to €138,049
of which Furniture and vehicles: -€27,848
- Cash -€11,856
down €11,856 (-45.6%), from €25,976 to €14,121
mainly Net result for the year (-€52,568) and Tax, wage and social debts (-€28,600)
- Receivables within one year -€10,601
down €10,601 (-58.4%), from €18,138 to €7,537
of which Trade receivables: -€11,527
- Profit (loss) carried forward -€52,568
down €52,568, from €21,530 to -€31,038
- Tax, wage and social debts -€28,600
down €28,600 (-96.1%), from €29,758 to €1,158
of which Remuneration and social security: -€24,750
- Other debts +€28,225
up €28,225 (+31.9%), from €88,606 to €116,831
- Debts after one year -€16,341
down €16,341 (-59.7%), from €27,381 to €11,040
- Gross operating margin -€71,423
down €71,423 (-95.2%), from €75,025 to €3,603
- Depreciation +€4,986
up €4,986 (+10.2%), from €49,016 to €54,001
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 | €232,867 | €163,310 | -€69,557 | -29.9% |
| Fixed assets | 21/28 | €186,262 | €138,104 | -€48,158 | -25.9% |
| Tangible fixed assets | 22/27 | €186,207 | €138,049 | -€48,158 | -25.9% |
| Land and buildings | 22 | €13,486 | €11,558 | -€1,928 | -14.3% |
| Plant, machinery and equipment | 23 | €10,542 | €7,180 | -€3,362 | -31.9% |
| Furniture and vehicles | 24 | €94,122 | €66,274 | -€27,848 | -29.6% |
| Other tangible fixed assets | 26 | €68,057 | €53,037 | -€15,020 | -22.1% |
| Financial fixed assets | 28 | €55 | €55 | = | 0.0% |
| Current assets | 29/58 | €46,605 | €25,206 | -€21,399 | -45.9% |
| Amounts receivable within one year | 40/41 | €18,138 | €7,537 | -€10,601 | -58.4% |
| Trade receivables | 40 | €17,954 | €6,427 | -€11,527 | -64.2% |
| Other amounts receivable | 41 | €184 | €1,110 | +€926 | +503% |
| Cash at bank and in hand | 54/58 | €25,976 | €14,121 | -€11,856 | -45.6% |
| Deferred charges and accrued income | 490/1 | €2,491 | €3,549 | +€1,058 | +42.5% |
| Total equity and liabilities | 10/49 | €232,867 | €163,310 | -€69,557 | -29.9% |
| Equity | 10/15 | €60,731 | €8,163 | -€52,568 | -86.6% |
| Reserves | 13 | €39,201 | €39,201 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,750 | €18,750 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €20,451 | €20,451 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,530 | -€31,038 | -€52,568 | |
| Amounts payable | 17/49 | €172,136 | €155,148 | -€16,989 | -9.9% |
| Amounts payable after more than one year | 17 | €27,381 | €11,040 | -€16,341 | -59.7% |
| Financial debts | 170/4 | €27,381 | €11,040 | -€16,341 | -59.7% |
| Amounts payable within one year | 42/48 | €142,598 | €144,107 | +€1,509 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €16,082 | €16,341 | +€260 | +1.6% |
| Trade debts | 44 | €8,152 | €9,777 | +€1,625 | +19.9% |
| Suppliers | 440/4 | €8,152 | €9,777 | +€1,625 | +19.9% |
| Taxes, remuneration and social security | 45 | €29,758 | €1,158 | -€28,600 | -96.1% |
| Taxes | 450/3 | €5,008 | €1,158 | -€3,850 | -76.9% |
| Remuneration and social security | 454/9 | €24,750 | - | -€24,750 | |
| Other amounts payable | 47/48 | €88,606 | €116,831 | +€28,225 | +31.9% |
| Accrued charges and deferred income | 492/3 | €2,157 | - | -€2,157 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,016 | €54,001 | +€4,986 | +10.2% |
| Other operating charges | 640/8 | €354 | €744 | +€390 | +110% |
| Gross operating margin | 9900 | €75,025 | €3,603 | -€71,423 | -95.2% |
| Operating profit (loss) | 9901 | €25,655 | -€51,143 | -€76,799 | |
| Financial income | 75/76B | - | €24 | +€24 | |
| Recurring financial income | 75 | - | €24 | +€24 | |
| Financial charges | 65/66B | €1,721 | €1,448 | -€272 | -15.8% |
| Recurring financial charges | 65 | €1,721 | €1,448 | -€272 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €23,935 | -€52,568 | -€76,503 | |
| Profit (loss) for the period | 9904 | €23,935 | -€52,568 | -€76,503 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,935 | -€52,568 | -€76,503 |
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 17 October 2026 via checked.be.