GUNTER HECTORS: 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.
GUNTER HECTORS
Largest movements
- Cash +€43,928
up €43,928 (+9.7%), from €454,558 to €498,486
mainly Net result for the year (+€87,251) and Receivables within one year (+€39,935)
- Receivables within one year -€39,935
down €39,935 (-80.2%), from €49,788 to €9,853
of which Trade receivables: -€34,501
- Stocks and contracts +€11,108
new in 2025: €11,108
- Reserves +€57,551
up €57,551 (+13.7%), from €421,530 to €479,081
- Other debts -€32,545
down €32,545 (-77.8%), from €41,858 to €9,313
- Trade debts -€19,573
down €19,573 (-73.5%), from €26,639 to €7,065
- Tax, wage and social debts +€7,736
up €7,736 (+737%), from €1,050 to €8,786
- Gross operating margin +€37,164
up €37,164 (+38.4%), from €96,745 to €133,909
- Taxes +€16,309
up €16,309 (+63.1%), from €25,839 to €42,148
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 | €511,822 | €524,657 | +€12,835 | +2.5% |
| Fixed assets | 21/28 | €6,333 | €4,216 | -€2,117 | -33.4% |
| Tangible fixed assets | 22/27 | €4,263 | €2,146 | -€2,117 | -49.7% |
| Plant, machinery and equipment | 23 | €2,105 | €1,402 | -€702 | -33.4% |
| Furniture and vehicles | 24 | €2,158 | €743 | -€1,415 | -65.6% |
| Financial fixed assets | 28 | €2,070 | €2,070 | = | 0.0% |
| Current assets | 29/58 | €505,489 | €520,441 | +€14,952 | +3.0% |
| Stocks and contracts in progress | 3 | - | €11,108 | +€11,108 | |
| Stocks | 30/36 | - | €11,108 | +€11,108 | |
| Amounts receivable within one year | 40/41 | €49,788 | €9,853 | -€39,935 | -80.2% |
| Trade receivables | 40 | €40,970 | €6,470 | -€34,501 | -84.2% |
| Other amounts receivable | 41 | €8,818 | €3,384 | -€5,434 | -61.6% |
| Current investments | 50/53 | €989 | €994 | +€5 | +0.5% |
| Cash at bank and in hand | 54/58 | €454,558 | €498,486 | +€43,928 | +9.7% |
| Deferred charges and accrued income | 490/1 | €153 | - | -€153 | |
| Total equity and liabilities | 10/49 | €511,822 | €524,657 | +€12,835 | +2.5% |
| Equity | 10/15 | €440,130 | €497,681 | +€57,551 | +13.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €421,530 | €479,081 | +€57,551 | +13.7% |
| Distributable reserves | 133 | €421,530 | €479,081 | +€57,551 | +13.7% |
| Amounts payable | 17/49 | €71,692 | €26,976 | -€44,716 | -62.4% |
| Amounts payable within one year | 42/48 | €69,546 | €25,164 | -€44,382 | -63.8% |
| Trade debts | 44 | €26,639 | €7,065 | -€19,573 | -73.5% |
| Suppliers | 440/4 | €26,639 | €7,065 | -€19,573 | -73.5% |
| Taxes, remuneration and social security | 45 | €1,050 | €8,786 | +€7,736 | +737% |
| Taxes | 450/3 | €1,050 | €8,786 | +€7,736 | +737% |
| Other amounts payable | 47/48 | €41,858 | €9,313 | -€32,545 | -77.8% |
| Accrued charges and deferred income | 492/3 | €2,145 | €1,811 | -€334 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,417 | €2,117 | +€700 | +49.4% |
| Other operating charges | 640/8 | €1,717 | €1,587 | -€131 | -7.6% |
| Gross operating margin | 9900 | €96,745 | €133,909 | +€37,164 | +38.4% |
| Operating profit (loss) | 9901 | €93,611 | €130,205 | +€36,594 | +39.1% |
| Financial income | 75/76B | €890 | €1,145 | +€255 | +28.7% |
| Recurring financial income | 75 | €890 | €1,145 | +€255 | +28.7% |
| Financial charges | 65/66B | €2,276 | €1,951 | -€325 | -14.3% |
| Recurring financial charges | 65 | €2,276 | €1,951 | -€325 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €92,225 | €129,399 | +€37,174 | +40.3% |
| Income taxes | 67/77 | €25,839 | €42,148 | +€16,309 | +63.1% |
| Profit (loss) for the period | 9904 | €66,386 | €87,251 | +€20,865 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €66,386 | €87,251 | +€20,865 | +31.4% |
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 27 October 2026 via checked.be.