GUTEC: 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.
GUTEC
Largest movements
- Financial fixed assets +€4.1m
new in 2025: €4.1m
- Debts after one year +€4.1m
new in 2025: €4.1m
- Profit (loss) carried forward +€57,091
up €57,091 (+183%), from €31,124 to €88,215
- Gross operating margin +€34,714
up €34,714 (+87.0%), from €39,920 to €74,634
- Taxes +€6,602
up €6,602 (+84.6%), from €7,807 to €14,409
- Depreciation +€1,313
up €1,313 (+145%), from €906 to €2,219
- Other operating charges +€997
up €997 (+1,580%), from €63 to €1,060
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 | €46,642 | €4,213,636 | +€4.2m | +8,934% |
| Fixed assets | 21/28 | €5,752 | €4,107,732 | +€4.1m | +71,319% |
| Tangible fixed assets | 22/27 | €5,752 | €3,532 | -€2,219 | -38.6% |
| Furniture and vehicles | 24 | €5,752 | €3,532 | -€2,219 | -38.6% |
| Financial fixed assets | 28 | - | €4,104,200 | +€4.1m | |
| Current assets | 29/58 | €40,890 | €105,904 | +€65,014 | +159% |
| Amounts receivable within one year | 40/41 | - | €22,196 | +€22,196 | |
| Trade receivables | 40 | - | €329 | +€329 | |
| Other amounts receivable | 41 | - | €21,867 | +€21,867 | |
| Cash at bank and in hand | 54/58 | €40,890 | €81,121 | +€40,231 | +98.4% |
| Deferred charges and accrued income | 490/1 | - | €2,587 | +€2,587 | |
| Total equity and liabilities | 10/49 | €46,642 | €4,213,636 | +€4.2m | +8,934% |
| Equity | 10/15 | €32,124 | €89,215 | +€57,091 | +178% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,124 | €88,215 | +€57,091 | +183% |
| Amounts payable | 17/49 | €14,518 | €4,124,421 | +€4.1m | +28,309% |
| Amounts payable after more than one year | 17 | - | €4,104,050 | +€4.1m | |
| Financial debts | 170/4 | - | €4,104,050 | +€4.1m | |
| Amounts payable within one year | 42/48 | €14,518 | €20,371 | +€5,853 | +40.3% |
| Trade debts | 44 | €54 | €648 | +€594 | +1,091% |
| Suppliers | 440/4 | €54 | €648 | +€594 | +1,091% |
| Taxes, remuneration and social security | 45 | €13,895 | €19,723 | +€5,828 | +41.9% |
| Taxes | 450/3 | €13,895 | €19,723 | +€5,828 | +41.9% |
| Other amounts payable | 47/48 | €569 | €0 | -€569 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €906 | €2,219 | +€1,313 | +145% |
| Other operating charges | 640/8 | €63 | €1,060 | +€997 | +1,580% |
| Gross operating margin | 9900 | €39,920 | €74,634 | +€34,714 | +87.0% |
| Operating profit (loss) | 9901 | €38,951 | €71,355 | +€32,404 | +83.2% |
| Financial income | 75/76B | - | €622 | +€622 | |
| Recurring financial income | 75 | - | €622 | +€622 | |
| Financial charges | 65/66B | €20 | €476 | +€456 | +2,258% |
| Recurring financial charges | 65 | €20 | €476 | +€456 | +2,258% |
| Profit (loss) for the period before taxes | 9903 | €38,930 | €71,500 | +€32,569 | +83.7% |
| Income taxes | 67/77 | €7,807 | €14,409 | +€6,602 | +84.6% |
| Profit (loss) for the period | 9904 | €31,124 | €57,091 | +€25,967 | +83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,124 | €57,091 | +€25,967 | +83.4% |
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 29 October 2026 via checked.be.