GUNS JOHAN: 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.
What changed
GUNS JOHAN
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€67,242
2024 · €83,886-€16,644
Equity
€390,098
2024 · €338,715+€51,383
Cash
€68,314
2024 · €65,706+€2,609
Balance sheet total
€752,590
2024 · €762,497-€9,907
Largest movements
Assets
- Receivables within one year -€13,050
down €13,050 (-47.2%), from €27,672 to €14,622
of which Other amounts receivable: -€21,581
Equity and liabilities
- Profit (loss) carried forward +€51,383
up €51,383 (+18.3%), from €280,905 to €332,288
- Debts after one year -€49,787
down €49,787 (-14.0%), from €354,744 to €304,956
Income statement
- Depreciation +€20,164
up €20,164 (+65.8%), from €30,630 to €50,794
- Taxes -€11,623
down €11,623 (-49.9%), from €23,282 to €11,658
- Gross operating margin -€6,413
down €6,413 (-4.1%), from €155,976 to €149,563
- Financial charges +€5,162
up €5,162 (+47.8%), from €10,810 to €15,972
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.
Result 2024
€83,886
Gross operating margin
-€6,413
Depreciation
-€20,164
Write-downs
-€662
Other operating charges
-€1,248
Other operating items
+€5,185
Financial income
+€197
Financial charges
-€5,162
Taxes
+€11,623
Result 2025
€67,242
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.
From operations
+€122,967
Investment
-€52,335
Financing
-€68,023
Cash 2024
€65,706
From operations (derived)
+€122,967
Net result for the year
+€67,242
Depreciation
+€50,794
Smaller working-capital items
+€254
Receivables within one year
+€13,050
Deferred charges and accrued income
+€888
Tax, wage and social debts
-€5,277
Other debts
-€2,256
Accrued charges and deferred income
-€1,727
Investment (derived)
-€52,335
Investment in fixed assets (net)
-€52,335
Financing
-€68,023
Debts after one year
-€49,787
Current portion of long-term debt
+€1,623
Short-term financial debts
-€4,000
Contributions, distributions and other
-€15,859
Cash 2025
€68,314
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €762,497 | €752,590 | -€9,907 | -1.3% |
| Fixed assets | 21/28 | €662,848 | €664,390 | +€1,541 | +0.2% |
| Tangible fixed assets | 22/27 | €662,848 | €664,390 | +€1,541 | +0.2% |
| Land and buildings | 22 | €583,529 | €600,343 | +€16,815 | +2.9% |
| Plant, machinery and equipment | 23 | €2,792 | €5,553 | +€2,761 | +98.9% |
| Furniture and vehicles | 24 | €46,273 | €37,128 | -€9,145 | -19.8% |
| Leasing and similar rights | 25 | €18,235 | €10,564 | -€7,671 | -42.1% |
| Other tangible fixed assets | 26 | €12,020 | €10,801 | -€1,218 | -10.1% |
| Current assets | 29/58 | €99,649 | €88,200 | -€11,449 | -11.5% |
| Stocks and contracts in progress | 3 | €3,804 | €3,684 | -€120 | -3.2% |
| Stocks | 30/36 | €3,804 | €3,684 | -€120 | -3.2% |
| Amounts receivable within one year | 40/41 | €27,672 | €14,622 | -€13,050 | -47.2% |
| Trade receivables | 40 | €1,418 | €9,950 | +€8,532 | +601.6% |
| Other amounts receivable | 41 | €26,253 | €4,672 | -€21,581 | -82.2% |
| Cash at bank and in hand | 54/58 | €65,706 | €68,314 | +€2,609 | +4.0% |
| Deferred charges and accrued income | 490/1 | €2,467 | €1,580 | -€888 | -36.0% |
| Total equity and liabilities | 10/49 | €762,497 | €752,590 | -€9,907 | -1.3% |
| Equity | 10/15 | €338,715 | €390,098 | +€51,383 | +15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,210 | €39,210 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €37,350 | €37,350 | = | 0.0% |
| Profit (loss) carried forward | 14 | €280,905 | €332,288 | +€51,383 | +18.3% |
| Provisions and deferred taxes | 16 | €750 | €750 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €750 | €750 | = | 0.0% |
| Major repairs and maintenance | 162 | €750 | €750 | = | 0.0% |
| Amounts payable | 17/49 | €423,032 | €361,742 | -€61,290 | -14.5% |
| Amounts payable after more than one year | 17 | €354,744 | €304,956 | -€49,787 | -14.0% |
| Financial debts | 170/4 | €354,744 | €304,956 | -€49,787 | -14.0% |
| Amounts payable within one year | 42/48 | €66,561 | €56,785 | -€9,776 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €49,096 | €50,720 | +€1,623 | +3.3% |
| Financial debts | 43 | €4,000 | - | -€4,000 | |
| Credit institutions | 430/8 | €4,000 | - | -€4,000 | |
| Trade debts | 44 | €2,363 | €2,497 | +€134 | +5.7% |
| Suppliers | 440/4 | €2,363 | €2,497 | +€134 | +5.7% |
| Taxes, remuneration and social security | 45 | €5,302 | €25 | -€5,277 | -99.5% |
| Taxes | 450/3 | €5,302 | €25 | -€5,277 | -99.5% |
| Other amounts payable | 47/48 | €5,800 | €3,544 | -€2,256 | -38.9% |
| Accrued charges and deferred income | 492/3 | €1,727 | - | -€1,727 | |
| Non-recurring operating income | 76A | €12,472 | - | -€12,472 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,630 | €50,794 | +€20,164 | +65.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €662 | +€662 | |
| Other operating charges | 640/8 | €4,539 | €5,787 | +€1,248 | +27.5% |
| Non-recurring operating charges | 66A | €5,185 | - | -€5,185 | |
| Gross operating margin | 9900 | €155,976 | €149,563 | -€6,413 | -4.1% |
| Operating profit (loss) | 9901 | €115,623 | €92,321 | -€23,302 | -20.2% |
| Financial income | 75/76B | €2,355 | €2,552 | +€197 | +8.4% |
| Recurring financial income | 75 | €2,355 | €2,552 | +€197 | +8.4% |
| Financial charges | 65/66B | €10,810 | €15,972 | +€5,162 | +47.8% |
| Recurring financial charges | 65 | €10,810 | €15,972 | +€5,162 | +47.8% |
| Profit (loss) for the period before taxes | 9903 | €107,168 | €78,900 | -€28,267 | -26.4% |
| Income taxes | 67/77 | €23,282 | €11,658 | -€11,623 | -49.9% |
| Profit (loss) for the period | 9904 | €83,886 | €67,242 | -€16,644 | -19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €83,886 | €67,242 | -€16,644 | -19.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.