GUNCO: 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.
GUNCO
Largest movements
- Receivables within one year +€27,783
up €27,783 (+12.1%), from €230,135 to €257,918
of which Other amounts receivable: +€87,783
- Tangible fixed assets -€20,208
down €20,208 (-13.2%), from €152,517 to €132,309
of which Land and buildings: -€14,924
- Receivables after one year -€5,522
down €5,522 (-13.2%), from €41,733 to €36,211
- Reserves +€17,888
up €17,888 (+42.5%), from €42,128 to €60,016
of which Distributable reserves: +€17,888
- Debts after one year -€11,190
down €11,190 (-9.5%), from €117,956 to €106,766
- Profit (loss) carried forward -€9,307
down €9,307 (-13.2%), from €70,691 to €61,384
- Tax, wage and social debts +€8,985
up €8,985 (+31.5%), from €28,527 to €37,512
of which Taxes: +€5,040
- Current portion of long-term debt -€6,109
down €6,109 (-35.3%), from €17,299 to €11,190
- Staff costs -€8,156
down €8,156 (-13.5%), from €60,491 to €52,335
- Gross operating margin -€5,156
down €5,156 (-4.8%), from €106,976 to €101,820
- Taxes +€1,215
up €1,215 (+17.5%), from €6,946 to €8,162
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 | €440,795 | €436,933 | -€3,862 | -0.9% |
| Fixed assets | 21/28 | €152,628 | €132,420 | -€20,208 | -13.2% |
| Tangible fixed assets | 22/27 | €152,517 | €132,309 | -€20,208 | -13.2% |
| Land and buildings | 22 | €143,715 | €128,791 | -€14,924 | -10.4% |
| Plant, machinery and equipment | 23 | €82 | €0 | -€82 | -100% |
| Furniture and vehicles | 24 | €8,720 | €3,518 | -€5,202 | -59.7% |
| Financial fixed assets | 28 | €112 | €112 | = | 0.0% |
| Current assets | 29/58 | €288,167 | €304,513 | +€16,346 | +5.7% |
| Amounts receivable after more than one year | 29 | €41,733 | €36,211 | -€5,522 | -13.2% |
| Other amounts receivable | 291 | €41,733 | €36,211 | -€5,522 | -13.2% |
| Amounts receivable within one year | 40/41 | €230,135 | €257,918 | +€27,783 | +12.1% |
| Trade receivables | 40 | €139,389 | €79,389 | -€60,000 | -43.0% |
| Other amounts receivable | 41 | €90,746 | €178,529 | +€87,783 | +96.7% |
| Cash at bank and in hand | 54/58 | €9,196 | €5,718 | -€3,477 | -37.8% |
| Deferred charges and accrued income | 490/1 | €7,103 | €4,666 | -€2,438 | -34.3% |
| Total equity and liabilities | 10/49 | €440,795 | €436,933 | -€3,862 | -0.9% |
| Equity | 10/15 | €131,411 | €139,991 | +€8,580 | +6.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €42,128 | €60,016 | +€17,888 | +42.5% |
| Tax-exempt reserves | 132 | €23,771 | €23,771 | = | 0.0% |
| Distributable reserves | 133 | €18,357 | €36,245 | +€17,888 | +97.4% |
| Profit (loss) carried forward | 14 | €70,691 | €61,384 | -€9,307 | -13.2% |
| Amounts payable | 17/49 | €309,384 | €296,942 | -€12,442 | -4.0% |
| Amounts payable after more than one year | 17 | €117,956 | €106,766 | -€11,190 | -9.5% |
| Financial debts | 170/4 | €117,956 | €106,766 | -€11,190 | -9.5% |
| Amounts payable within one year | 42/48 | €189,628 | €188,375 | -€1,253 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €17,299 | €11,190 | -€6,109 | -35.3% |
| Trade debts | 44 | €24,519 | €20,756 | -€3,763 | -15.3% |
| Suppliers | 440/4 | €24,519 | €20,756 | -€3,763 | -15.3% |
| Advances received on contracts in progress | 46 | €113,141 | €113,141 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €28,527 | €37,512 | +€8,985 | +31.5% |
| Taxes | 450/3 | €21,867 | €26,907 | +€5,040 | +23.1% |
| Remuneration and social security | 454/9 | €6,660 | €10,605 | +€3,945 | +59.2% |
| Other amounts payable | 47/48 | €6,142 | €5,777 | -€365 | -5.9% |
| Accrued charges and deferred income | 492/3 | €1,800 | €1,800 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €60,491 | €52,335 | -€8,156 | -13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,932 | €20,208 | -€724 | -3.5% |
| Other operating charges | 640/8 | €2,073 | €2,217 | +€144 | +6.9% |
| Gross operating margin | 9900 | €106,976 | €101,820 | -€5,156 | -4.8% |
| Operating profit (loss) | 9901 | €23,480 | €27,059 | +€3,579 | +15.2% |
| Financial income | 75/76B | €1,125 | €994 | -€131 | -11.7% |
| Recurring financial income | 75 | €1,125 | €994 | -€131 | -11.7% |
| Financial charges | 65/66B | €2,132 | €2,013 | -€119 | -5.6% |
| Recurring financial charges | 65 | €2,132 | €2,013 | -€119 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €22,472 | €26,039 | +€3,567 | +15.9% |
| Income taxes | 67/77 | €6,946 | €8,162 | +€1,215 | +17.5% |
| Profit (loss) for the period | 9904 | €15,526 | €17,878 | +€2,352 | +15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,526 | €17,878 | +€2,352 | +15.1% |
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 14 October 2026 via checked.be.