GUN FACTOR: 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.
GUN FACTOR
Largest movements
- Receivables within one year +€4,519
up €4,519 (+125.6%), from €3,597 to €8,117
of which Other amounts receivable: +€4,819
- Cash -€553
no longer reported in 2025 (was €553)
mainly Receivables within one year (-€4,519) and Trade debts (-€3,170)
- Deferred charges and accrued income +€232
new in 2025: €232
- Current investments +€203
new in 2025: €203
- Formation expenses -€119
no longer reported in 2025 (was €119)
- Tax, wage and social debts +€5,500
up €5,500 (+890.5%), from €618 to €6,117
- Trade debts -€3,170
down €3,170 (-68.4%), from €4,634 to €1,464
- Other debts -€3,011
no longer reported in 2025 (was €3,011)
- Short-term financial debts +€2,493
new in 2025: €2,493
- Profit (loss) carried forward +€2,470
up €2,470 (+49.5%), from -€4,993 to -€2,523
- Gross operating margin +€8,647
up €8,647, from -€3,275 to €5,372
- Taxes +€1,560
new in 2025: €1,560
- Depreciation -€934
down €934 (-88.7%), from €1,053 to €119
- Financial charges +€375
up €375 (+450.2%), from €83 to €458
- Other operating charges +€183
up €183 (+31.4%), from €584 to €768
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 | €4,269 | €8,552 | +€4,283 | +100.3% |
| Formation expenses | 20 | €119 | - | -€119 | |
| Current assets | 29/58 | €4,150 | €8,552 | +€4,401 | +106.1% |
| Amounts receivable within one year | 40/41 | €3,597 | €8,117 | +€4,519 | +125.6% |
| Trade receivables | 40 | €3,597 | €3,297 | -€300 | -8.3% |
| Other amounts receivable | 41 | - | €4,819 | +€4,819 | |
| Current investments | 50/53 | - | €203 | +€203 | |
| Cash at bank and in hand | 54/58 | €553 | - | -€553 | |
| Deferred charges and accrued income | 490/1 | - | €232 | +€232 | |
| Total equity and liabilities | 10/49 | €4,269 | €8,552 | +€4,283 | +100.3% |
| Equity | 10/15 | -€3,993 | -€1,523 | +€2,470 | +61.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,993 | -€2,523 | +€2,470 | +49.5% |
| Amounts payable | 17/49 | €8,262 | €10,075 | +€1,812 | +21.9% |
| Amounts payable within one year | 42/48 | €8,262 | €10,075 | +€1,812 | +21.9% |
| Financial debts | 43 | - | €2,493 | +€2,493 | |
| Credit institutions | 430/8 | - | €2,493 | +€2,493 | |
| Trade debts | 44 | €4,634 | €1,464 | -€3,170 | -68.4% |
| Suppliers | 440/4 | €4,634 | €1,464 | -€3,170 | -68.4% |
| Taxes, remuneration and social security | 45 | €618 | €6,117 | +€5,500 | +890.5% |
| Taxes | 450/3 | €618 | €6,117 | +€5,500 | +890.5% |
| Other amounts payable | 47/48 | €3,011 | - | -€3,011 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,053 | €119 | -€934 | -88.7% |
| Other operating charges | 640/8 | €584 | €768 | +€183 | +31.4% |
| Gross operating margin | 9900 | -€3,275 | €5,372 | +€8,647 | |
| Operating profit (loss) | 9901 | -€4,911 | €4,486 | +€9,397 | |
| Financial income | 75/76B | €1 | €2 | +€1 | +62.5% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +62.5% |
| Financial charges | 65/66B | €83 | €458 | +€375 | +450.2% |
| Recurring financial charges | 65 | €83 | €458 | +€375 | +450.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,993 | €4,030 | +€9,024 | |
| Income taxes | 67/77 | - | €1,560 | +€1,560 | |
| Profit (loss) for the period | 9904 | -€4,993 | €2,470 | +€7,464 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,993 | €2,470 | +€7,464 |
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 12 October 2026 via checked.be.