GUPAFA: 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.
What changed
GUPAFA
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€15,207
2024 · €56,297-€71,505
Equity
€4.0m
2024 · €4.0m-€15,207
Cash
€197,864
2024 · €32,578+€165,286
Balance sheet total
€8.0m
2024 · €8.1m-€66,145
Largest movements
Assets
- Tangible fixed assets -€222,551
down €222,551 (-3.5%), from €6.4m to €6.2m
of which Furniture and vehicles: -€205,071
- Cash +€165,286
up €165,286 (+507.4%), from €32,578 to €197,864
mainly Depreciation (+€346,081) and Trade debts (+€154,004)
Equity and liabilities
- Debts after one year -€226,735
down €226,735 (-8.8%), from €2.6m to €2.4m
of which Financial debts: -€333,192
- Trade debts +€154,004
up €154,004 (+198.3%), from €77,655 to €231,659
Income statement
- Gross operating margin -€186,006
down €186,006 (-19.0%), from €977,892 to €791,887
- Staff costs -€72,702
down €72,702 (-22.5%), from €323,655 to €250,953
- Depreciation -€69,687
down €69,687 (-16.8%), from €415,768 to €346,081
- Financial income -€20,926
down €20,926 (-32.3%), from €64,774 to €43,848
- Financial charges -€14,941
down €14,941 (-10.3%), from €144,387 to €129,446
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
€56,297
Gross operating margin
-€186,006
Staff costs
+€72,702
Depreciation
+€69,687
Other operating charges
-€6,903
Financial income
-€20,926
Financial charges
+€14,941
Deferred taxes and other
-€15,000
Result 2025
-€15,207
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
+€555,511
Investment
-€123,530
Financing
-€266,695
Cash 2024
€32,578
From operations (derived)
+€555,511
Net result for the year
-€15,207
Depreciation
+€346,081
Receivables within one year
-€16,061
Deferred charges and accrued income
+€24,941
Provisions
+€15,000
Trade debts
+€154,004
Tax, wage and social debts
-€21,639
Accrued charges and deferred income
+€68,393
Investment (derived)
-€123,530
Investment in fixed assets (net)
-€123,530
Financing
-€266,695
Debts after one year
-€226,735
Current portion of long-term debt
-€39,960
Cash 2025
€197,864
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,100,809 | €8,034,664 | -€66,145 | -0.8% |
| Fixed assets | 21/28 | €7,654,308 | €7,431,757 | -€222,551 | -2.9% |
| Tangible fixed assets | 22/27 | €6,387,118 | €6,164,567 | -€222,551 | -3.5% |
| Land and buildings | 22 | €5,535,756 | €5,427,132 | -€108,624 | -2.0% |
| Plant, machinery and equipment | 23 | €306,866 | €398,010 | +€91,144 | +29.7% |
| Furniture and vehicles | 24 | €544,495 | €339,424 | -€205,071 | -37.7% |
| Financial fixed assets | 28 | €1,267,191 | €1,267,191 | = | 0.0% |
| Current assets | 29/58 | €446,501 | €602,907 | +€156,406 | +35.0% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €318,964 | €335,025 | +€16,061 | +5.0% |
| Trade receivables | 40 | €318,964 | €335,025 | +€16,061 | +5.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €32,578 | €197,864 | +€165,286 | +507.4% |
| Deferred charges and accrued income | 490/1 | €54,959 | €30,018 | -€24,941 | -45.4% |
| Total equity and liabilities | 10/49 | €8,100,809 | €8,034,664 | -€66,145 | -0.8% |
| Equity | 10/15 | €3,989,835 | €3,974,628 | -€15,207 | -0.4% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Capital | 10 | €3,000,000 | €3,000,000 | = | 0.0% |
| Issued capital | 100 | €3,000,000 | €3,000,000 | = | 0.0% |
| Reserves | 13 | €989,835 | €974,628 | -€15,207 | -1.5% |
| Non-distributable reserves | 130/1 | €72,150 | €72,150 | = | 0.0% |
| Legal reserve | 130 | €72,150 | €72,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €415,418 | €460,418 | +€44,999 | +10.8% |
| Distributable reserves | 133 | €502,267 | €442,061 | -€60,206 | -12.0% |
| Provisions and deferred taxes | 16 | - | €15,000 | +€15,000 | |
| Deferred taxes | 168 | - | €15,000 | +€15,000 | |
| Amounts payable | 17/49 | €4,110,974 | €4,045,036 | -€65,937 | -1.6% |
| Amounts payable after more than one year | 17 | €2,583,929 | €2,357,194 | -€226,735 | -8.8% |
| Financial debts | 170/4 | €2,274,203 | €1,941,011 | -€333,192 | -14.7% |
| Other amounts payable | 178/9 | €309,725 | €416,183 | +€106,457 | +34.4% |
| Amounts payable within one year | 42/48 | €1,527,045 | €1,619,449 | +€92,404 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €574,603 | €534,642 | -€39,960 | -7.0% |
| Financial debts | 43 | €750,000 | €750,000 | = | 0.0% |
| Credit institutions | 430/8 | €750,000 | €750,000 | = | 0.0% |
| Trade debts | 44 | €77,655 | €231,659 | +€154,004 | +198.3% |
| Suppliers | 440/4 | €77,655 | €231,659 | +€154,004 | +198.3% |
| Taxes, remuneration and social security | 45 | €54,683 | €33,043 | -€21,639 | -39.6% |
| Taxes | 450/3 | €10,074 | €5,320 | -€4,754 | -47.2% |
| Remuneration and social security | 454/9 | €44,608 | €27,723 | -€16,885 | -37.9% |
| Other amounts payable | 47/48 | €70,104 | €70,104 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €68,393 | +€68,393 | |
| Remuneration, social security and pensions | 62 | €323,655 | €250,953 | -€72,702 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €415,768 | €346,081 | -€69,687 | -16.8% |
| Other operating charges | 640/8 | €102,559 | €109,462 | +€6,903 | +6.7% |
| Gross operating margin | 9900 | €977,892 | €791,887 | -€186,006 | -19.0% |
| Operating profit (loss) | 9901 | €135,910 | €85,390 | -€50,519 | -37.2% |
| Financial income | 75/76B | €64,774 | €43,848 | -€20,926 | -32.3% |
| Recurring financial income | 75 | €64,774 | €43,848 | -€20,926 | -32.3% |
| Financial charges | 65/66B | €144,387 | €129,446 | -€14,941 | -10.3% |
| Recurring financial charges | 65 | €144,387 | €129,446 | -€14,941 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €56,297 | -€207 | -€56,505 | |
| Transfer to deferred taxes | 680 | - | €15,000 | +€15,000 | |
| Profit (loss) for the period | 9904 | €56,297 | -€15,207 | -€71,505 | |
| Transfer to tax-exempt reserves | 689 | - | €44,999 | +€44,999 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,297 | -€60,206 | -€116,504 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.