GUROLEF: 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.
GUROLEF
Largest movements
- Cash +€59,364
up €59,364 (+43.7%), from €135,836 to €195,201
mainly Debts after one year (+€193,842) and Net result for the year (+€103,153)
- Tangible fixed assets +€13,240
up €13,240 (+54.7%), from €24,212 to €37,453
of which Furniture and vehicles: +€17,163
- Receivables within one year +€7,384
up €7,384 (+6.4%), from €114,613 to €121,997
of which Trade receivables: +€10,655
- Debts after one year +€193,842
new in 2025: €193,842
- Profit (loss) carried forward -€99,188
no longer reported in 2025 (was €99,188)
- Other debts -€29,252
down €29,252 (-12.6%), from €231,593 to €202,340
- Trade debts +€14,165
up €14,165 (+1259.9%), from €1,124 to €15,289
- Gross operating margin +€8,285
up €8,285 (+6.1%), from €135,593 to €143,879
- Financial charges +€3,325
up €3,325 (+82.4%), from €4,034 to €7,360
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €343,174 | €424,466 | +€81,292 | +23.7% |
| Fixed assets | 21/28 | €24,212 | €37,453 | +€13,240 | +54.7% |
| Tangible fixed assets | 22/27 | €24,212 | €37,453 | +€13,240 | +54.7% |
| Furniture and vehicles | 24 | €0 | €17,163 | +€17,163 | |
| Other tangible fixed assets | 26 | €24,212 | €20,290 | -€3,923 | -16.2% |
| Current assets | 29/58 | €318,961 | €387,013 | +€68,052 | +21.3% |
| Amounts receivable within one year | 40/41 | €114,613 | €121,997 | +€7,384 | +6.4% |
| Trade receivables | 40 | €101,834 | €112,489 | +€10,655 | +10.5% |
| Other amounts receivable | 41 | €12,778 | €9,507 | -€3,271 | -25.6% |
| Current investments | 50/53 | €64,350 | €64,350 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €135,836 | €195,201 | +€59,364 | +43.7% |
| Deferred charges and accrued income | 490/1 | €4,162 | €5,466 | +€1,303 | +31.3% |
| Total equity and liabilities | 10/49 | €343,174 | €424,466 | +€81,292 | +23.7% |
| Equity | 10/15 | €100,688 | €1,500 | -€99,188 | -98.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,188 | - | -€99,188 | |
| Amounts payable | 17/49 | €242,486 | €422,966 | +€180,480 | +74.4% |
| Amounts payable after more than one year | 17 | - | €193,842 | +€193,842 | |
| Other amounts payable | 178/9 | - | €193,842 | +€193,842 | |
| Amounts payable within one year | 42/48 | €241,973 | €227,868 | -€14,105 | -5.8% |
| Trade debts | 44 | €1,124 | €15,289 | +€14,165 | +1259.9% |
| Suppliers | 440/4 | €1,124 | €15,289 | +€14,165 | +1259.9% |
| Taxes, remuneration and social security | 45 | €9,256 | €10,239 | +€983 | +10.6% |
| Taxes | 450/3 | €4,406 | €5,389 | +€983 | +22.3% |
| Remuneration and social security | 454/9 | €4,850 | €4,850 | = | 0.0% |
| Other amounts payable | 47/48 | €231,593 | €202,340 | -€29,252 | -12.6% |
| Accrued charges and deferred income | 492/3 | €513 | €1,256 | +€743 | +144.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,681 | €4,761 | +€1,079 | +29.3% |
| Other operating charges | 640/8 | €1,494 | €2,305 | +€811 | +54.3% |
| Gross operating margin | 9900 | €135,593 | €143,879 | +€8,285 | +6.1% |
| Operating profit (loss) | 9901 | €130,418 | €136,814 | +€6,395 | +4.9% |
| Financial income | 75/76B | €1,445 | €1,409 | -€35 | -2.4% |
| Recurring financial income | 75 | €1,445 | €1,409 | -€35 | -2.4% |
| Financial charges | 65/66B | €4,034 | €7,360 | +€3,325 | +82.4% |
| Recurring financial charges | 65 | €4,034 | €7,360 | +€3,325 | +82.4% |
| Profit (loss) for the period before taxes | 9903 | €127,829 | €130,863 | +€3,034 | +2.4% |
| Income taxes | 67/77 | €27,782 | €27,711 | -€71 | -0.3% |
| Profit (loss) for the period | 9904 | €100,047 | €103,153 | +€3,106 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €100,047 | €103,153 | +€3,106 | +3.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.