Guverco: 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.
Guverco
Largest movements
- Receivables within one year +€57,182
up €57,182 (+85.8%), from €66,616 to €123,798
of which Other amounts receivable: +€56,752
- Cash +€7,129
up €7,129 (+12.8%), from €55,881 to €63,010
mainly Net result for the year (+€61,743) and Trade debts (+€9,707)
- Reserves +€61,743
up €61,743 (+67.1%), from €91,978 to €153,721
- Trade debts +€9,707
up €9,707 (+134.9%), from €7,195 to €16,903
- Tax, wage and social debts -€8,208
down €8,208 (-30.5%), from €26,878 to €18,670
- Gross operating margin +€6,507
up €6,507 (+9.3%), from €69,786 to €76,293
- Financial income +€2,062
up €2,062 (+85.7%), from €2,407 to €4,469
- Taxes +€1,614
up €1,614 (+10.9%), from €14,777 to €16,391
- Financial charges +€855
up €855 (+51.9%), from €1,646 to €2,500
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 | €127,051 | €190,293 | +€63,242 | +49.8% |
| Current assets | 29/58 | €127,051 | €190,293 | +€63,242 | +49.8% |
| Amounts receivable within one year | 40/41 | €66,616 | €123,798 | +€57,182 | +85.8% |
| Trade receivables | 40 | €0 | €430 | +€430 | |
| Other amounts receivable | 41 | €66,616 | €123,368 | +€56,752 | +85.2% |
| Cash at bank and in hand | 54/58 | €55,881 | €63,010 | +€7,129 | +12.8% |
| Deferred charges and accrued income | 490/1 | €4,554 | €3,486 | -€1,069 | -23.5% |
| Total equity and liabilities | 10/49 | €127,051 | €190,293 | +€63,242 | +49.8% |
| Equity | 10/15 | €92,978 | €154,721 | +€61,743 | +66.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €91,978 | €153,721 | +€61,743 | +67.1% |
| Distributable reserves | 133 | €91,978 | €153,721 | +€61,743 | +67.1% |
| Amounts payable | 17/49 | €34,073 | €35,572 | +€1,499 | +4.4% |
| Amounts payable within one year | 42/48 | €34,073 | €35,572 | +€1,499 | +4.4% |
| Trade debts | 44 | €7,195 | €16,903 | +€9,707 | +134.9% |
| Suppliers | 440/4 | €7,195 | €16,903 | +€9,707 | +134.9% |
| Taxes, remuneration and social security | 45 | €26,878 | €18,670 | -€8,208 | -30.5% |
| Taxes | 450/3 | €26,878 | €18,670 | -€8,208 | -30.5% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €69,786 | €76,293 | +€6,507 | +9.3% |
| Operating profit (loss) | 9901 | €69,660 | €76,165 | +€6,505 | +9.3% |
| Financial income | 75/76B | €2,407 | €4,469 | +€2,062 | +85.7% |
| Recurring financial income | 75 | €2,407 | €4,469 | +€2,062 | +85.7% |
| Financial charges | 65/66B | €1,646 | €2,500 | +€855 | +51.9% |
| Recurring financial charges | 65 | €1,646 | €2,500 | +€855 | +51.9% |
| Profit (loss) for the period before taxes | 9903 | €70,421 | €78,134 | +€7,712 | +11.0% |
| Income taxes | 67/77 | €14,777 | €16,391 | +€1,614 | +10.9% |
| Profit (loss) for the period | 9904 | €55,645 | €61,743 | +€6,098 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,645 | €61,743 | +€6,098 | +11.0% |
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 9 October 2026 via checked.be.