GURA PROJECTS: 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.
GURA PROJECTS
Largest movements
- Cash +€24,827
up €24,827 (+36.7%), from €67,680 to €92,507
mainly Net result for the year (+€41,150) and Depreciation (+€24,679)
- Tangible fixed assets -€18,539
down €18,539 (-18.7%), from €99,048 to €80,509
of which Leasing and similar rights: -€18,815
- Receivables within one year +€17,499
up €17,499 (+79.5%), from €22,005 to €39,504
of which Trade receivables: +€11,333
- Reserves +€41,150
up €41,150 (+35.2%), from €116,900 to €158,050
- Debts after one year -€19,982
down €19,982 (-45.5%), from €43,913 to €23,931
- Tax, wage and social debts +€5,645
up €5,645 (+502%), from €1,125 to €6,770
of which Taxes: +€5,477
- Other debts -€3,178
no longer reported in 2025 (was €3,178)
- Gross operating margin +€35,438
up €35,438 (+60.0%), from €59,039 to €94,478
- Taxes +€12,714
up €12,714 (+146%), from €8,738 to €21,453
- Depreciation +€6,239
up €6,239 (+33.8%), from €18,440 to €24,679
- Other operating charges -€3,871
down €3,871 (-41.6%), from €9,317 to €5,446
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.
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 | €191,531 | €215,195 | +€23,664 | +12.4% |
| Fixed assets | 21/28 | €99,316 | €80,587 | -€18,729 | -18.9% |
| Intangible fixed assets | 21 | €267 | €78 | -€190 | -71.0% |
| Tangible fixed assets | 22/27 | €99,048 | €80,509 | -€18,539 | -18.7% |
| Land and buildings | 22 | €10,000 | €10,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €6,019 | €10,192 | +€4,173 | +69.3% |
| Furniture and vehicles | 24 | €13,254 | €9,357 | -€3,897 | -29.4% |
| Leasing and similar rights | 25 | €69,776 | €50,960 | -€18,815 | -27.0% |
| Current assets | 29/58 | €92,215 | €134,608 | +€42,393 | +46.0% |
| Amounts receivable within one year | 40/41 | €22,005 | €39,504 | +€17,499 | +79.5% |
| Trade receivables | 40 | €16,904 | €28,237 | +€11,333 | +67.0% |
| Other amounts receivable | 41 | €5,101 | €11,267 | +€6,166 | +121% |
| Cash at bank and in hand | 54/58 | €67,680 | €92,507 | +€24,827 | +36.7% |
| Deferred charges and accrued income | 490/1 | €2,530 | €2,597 | +€68 | +2.7% |
| Total equity and liabilities | 10/49 | €191,531 | €215,195 | +€23,664 | +12.4% |
| Equity | 10/15 | €121,900 | €163,050 | +€41,150 | +33.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €116,900 | €158,050 | +€41,150 | +35.2% |
| Distributable reserves | 133 | €116,900 | €158,050 | +€41,150 | +35.2% |
| Amounts payable | 17/49 | €69,631 | €52,145 | -€17,486 | -25.1% |
| Amounts payable after more than one year | 17 | €43,913 | €23,931 | -€19,982 | -45.5% |
| Financial debts | 170/4 | €43,913 | €23,931 | -€19,982 | -45.5% |
| Amounts payable within one year | 42/48 | €25,718 | €28,214 | +€2,496 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €19,300 | €19,982 | +€682 | +3.5% |
| Trade debts | 44 | €2,115 | €1,462 | -€653 | -30.9% |
| Suppliers | 440/4 | €2,115 | €1,462 | -€653 | -30.9% |
| Taxes, remuneration and social security | 45 | €1,125 | €6,770 | +€5,645 | +502% |
| Taxes | 450/3 | €1,125 | €6,602 | +€5,477 | +487% |
| Remuneration and social security | 454/9 | - | €168 | +€168 | |
| Other amounts payable | 47/48 | €3,178 | - | -€3,178 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,440 | €24,679 | +€6,239 | +33.8% |
| Other operating charges | 640/8 | €9,317 | €5,446 | -€3,871 | -41.6% |
| Gross operating margin | 9900 | €59,039 | €94,478 | +€35,438 | +60.0% |
| Operating profit (loss) | 9901 | €31,282 | €64,353 | +€33,071 | +106% |
| Financial income | 75/76B | €336 | €377 | +€41 | +12.1% |
| Recurring financial income | 75 | €336 | €377 | +€41 | +12.1% |
| Financial charges | 65/66B | €1,757 | €2,127 | +€369 | +21.0% |
| Recurring financial charges | 65 | €1,757 | €2,127 | +€369 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | €29,861 | €62,603 | +€32,742 | +110% |
| Income taxes | 67/77 | €8,738 | €21,453 | +€12,714 | +146% |
| Profit (loss) for the period | 9904 | €21,122 | €41,150 | +€20,028 | +94.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,122 | €41,150 | +€20,028 | +94.8% |
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 26 October 2026 via checked.be.