GUNS J.: 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.
GUNS J.
Largest movements
- Cash +€43,319
up €43,319 (+23.5%), from €184,424 to €227,743
mainly Net result for the year (+€60,098) and Depreciation (+€56,591)
- Tangible fixed assets -€32,001
down €32,001 (-2.8%), from €1.1m to €1.1m
of which Land and buildings: -€30,093
- Debts after one year -€70,480
down €70,480 (-10.4%), from €677,838 to €607,358
of which Financial debts: -€74,830
- Reserves +€60,098
up €60,098 (+13.6%), from €442,007 to €502,106
of which Distributable reserves: +€60,900
- Trade debts +€15,784
up €15,784 (+25.6%), from €61,743 to €77,527
- Gross operating margin -€21,036
down €21,036 (-10.5%), from €199,677 to €178,641
- Financial charges +€5,090
up €5,090 (+17.8%), from €28,602 to €33,692
- Depreciation -€4,020
down €4,020 (-6.6%), from €60,612 to €56,591
- Taxes -€2,979
down €2,979 (-11.3%), from €26,284 to €23,305
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 | €1,477,122 | €1,485,842 | +€8,720 | +0.6% |
| Fixed assets | 21/28 | €1,144,262 | €1,112,261 | -€32,001 | -2.8% |
| Tangible fixed assets | 22/27 | €1,143,992 | €1,111,991 | -€32,001 | -2.8% |
| Land and buildings | 22 | €1,036,130 | €1,006,037 | -€30,093 | -2.9% |
| Plant, machinery and equipment | 23 | €10,512 | €32,441 | +€21,929 | +209% |
| Furniture and vehicles | 24 | €97,350 | €73,514 | -€23,837 | -24.5% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €332,860 | €373,580 | +€40,721 | +12.2% |
| Stocks and contracts in progress | 3 | €58,062 | €65,849 | +€7,787 | +13.4% |
| Stocks | 30/36 | €58,062 | €65,849 | +€7,787 | +13.4% |
| Amounts receivable within one year | 40/41 | €75,048 | €73,518 | -€1,530 | -2.0% |
| Trade receivables | 40 | €48,176 | €55,697 | +€7,521 | +15.6% |
| Other amounts receivable | 41 | €26,872 | €17,821 | -€9,051 | -33.7% |
| Cash at bank and in hand | 54/58 | €184,424 | €227,743 | +€43,319 | +23.5% |
| Deferred charges and accrued income | 490/1 | €15,325 | €6,470 | -€8,855 | -57.8% |
| Total equity and liabilities | 10/49 | €1,477,122 | €1,485,842 | +€8,720 | +0.6% |
| Equity | 10/15 | €548,432 | €608,530 | +€60,098 | +11.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €442,007 | €502,106 | +€60,098 | +13.6% |
| Tax-exempt reserves | 132 | €26,122 | €25,321 | -€802 | -3.1% |
| Distributable reserves | 133 | €415,885 | €476,785 | +€60,900 | +14.6% |
| Profit (loss) carried forward | 14 | €94,024 | €94,025 | +€0 | 0.0% |
| Provisions and deferred taxes | 16 | €6,695 | €6,489 | -€206 | -3.1% |
| Deferred taxes | 168 | €6,695 | €6,489 | -€206 | -3.1% |
| Amounts payable | 17/49 | €921,995 | €870,822 | -€51,173 | -5.6% |
| Amounts payable after more than one year | 17 | €677,838 | €607,358 | -€70,480 | -10.4% |
| Financial debts | 170/4 | €677,838 | €603,008 | -€74,830 | -11.0% |
| Other amounts payable | 178/9 | - | €4,350 | +€4,350 | |
| Amounts payable within one year | 42/48 | €236,908 | €256,453 | +€19,545 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €73,235 | €74,830 | +€1,596 | +2.2% |
| Trade debts | 44 | €61,743 | €77,527 | +€15,784 | +25.6% |
| Suppliers | 440/4 | €61,743 | €77,527 | +€15,784 | +25.6% |
| Taxes, remuneration and social security | 45 | €13,368 | €11,538 | -€1,829 | -13.7% |
| Taxes | 450/3 | €10,918 | €9,088 | -€1,829 | -16.8% |
| Remuneration and social security | 454/9 | €2,450 | €2,450 | = | 0.0% |
| Other amounts payable | 47/48 | €88,562 | €92,557 | +€3,995 | +4.5% |
| Accrued charges and deferred income | 492/3 | €7,249 | €7,012 | -€237 | -3.3% |
| Non-recurring operating income | 76A | €7,240 | - | -€7,240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,612 | €56,591 | -€4,020 | -6.6% |
| Other operating charges | 640/8 | €4,066 | €5,291 | +€1,226 | +30.1% |
| Gross operating margin | 9900 | €199,677 | €178,641 | -€21,036 | -10.5% |
| Operating profit (loss) | 9901 | €135,000 | €116,758 | -€18,241 | -13.5% |
| Financial income | 75/76B | €28 | €131 | +€103 | +370% |
| Recurring financial income | 75 | €28 | €131 | +€103 | +370% |
| Financial charges | 65/66B | €28,602 | €33,692 | +€5,090 | +17.8% |
| Recurring financial charges | 65 | €28,602 | €33,692 | +€5,090 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €106,426 | €83,198 | -€23,228 | -21.8% |
| Transfer from deferred taxes | 780 | €206 | €206 | = | 0.0% |
| Income taxes | 67/77 | €26,284 | €23,305 | -€2,979 | -11.3% |
| Profit (loss) for the period | 9904 | €80,347 | €60,098 | -€20,249 | -25.2% |
| Transfer from tax-exempt reserves | 789 | €802 | €802 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €81,149 | €60,900 | -€20,249 | -25.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.