Guy Degryse: 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.
Guy Degryse
Largest movements
- Cash -€53,992
down €53,992 (-24.8%), from €218,073 to €164,081
mainly Other debts (-€109,749) and Tax, wage and social debts (-€31,324)
- Receivables within one year -€32,180
down €32,180 (-45.5%), from €70,670 to €38,490
- Tangible fixed assets -€5,861
down €5,861 (-88.2%), from €6,647 to €785
- Other debts -€109,749
down €109,749 (-100.0%), from €109,749 to €0
- Reserves +€50,000
up €50,000 (+49.6%), from €100,860 to €150,860
of which Distributable reserves: +€50,000
- Tax, wage and social debts -€31,324
down €31,324 (-42.8%), from €73,156 to €41,833
- Gross operating margin -€43,155
down €43,155 (-29.7%), from €145,255 to €102,099
- Taxes -€4,579
down €4,579 (-11.9%), from €38,430 to €33,852
- Depreciation -€2,494
down €2,494 (-29.8%), from €8,355 to €5,861
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 | €299,145 | €206,783 | -€92,362 | -30.9% |
| Fixed assets | 21/28 | €6,647 | €785 | -€5,861 | -88.2% |
| Tangible fixed assets | 22/27 | €6,647 | €785 | -€5,861 | -88.2% |
| Furniture and vehicles | 24 | €6,647 | €785 | -€5,861 | -88.2% |
| Current assets | 29/58 | €292,498 | €205,998 | -€86,501 | -29.6% |
| Amounts receivable within one year | 40/41 | €70,670 | €38,490 | -€32,180 | -45.5% |
| Trade receivables | 40 | €70,670 | €38,490 | -€32,180 | -45.5% |
| Cash at bank and in hand | 54/58 | €218,073 | €164,081 | -€53,992 | -24.8% |
| Deferred charges and accrued income | 490/1 | €3,755 | €3,427 | -€328 | -8.7% |
| Total equity and liabilities | 10/49 | €299,145 | €206,783 | -€92,362 | -30.9% |
| Equity | 10/15 | €114,265 | €164,469 | +€50,204 | +43.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €100,860 | €150,860 | +€50,000 | +49.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €99,000 | €149,000 | +€50,000 | +50.5% |
| Profit (loss) carried forward | 14 | €1,005 | €1,209 | +€204 | +20.3% |
| Amounts payable | 17/49 | €184,880 | €42,314 | -€142,566 | -77.1% |
| Amounts payable within one year | 42/48 | €184,880 | €42,314 | -€142,566 | -77.1% |
| Trade debts | 44 | €1,974 | €481 | -€1,493 | -75.6% |
| Suppliers | 440/4 | €1,974 | €481 | -€1,493 | -75.6% |
| Taxes, remuneration and social security | 45 | €73,156 | €41,833 | -€31,324 | -42.8% |
| Taxes | 450/3 | €73,156 | €41,833 | -€31,324 | -42.8% |
| Other amounts payable | 47/48 | €109,749 | €0 | -€109,749 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,355 | €5,861 | -€2,494 | -29.8% |
| Other operating charges | 640/8 | €2,546 | €2,914 | +€368 | +14.4% |
| Gross operating margin | 9900 | €145,255 | €102,099 | -€43,155 | -29.7% |
| Operating profit (loss) | 9901 | €134,353 | €93,325 | -€41,029 | -30.5% |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.7% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.7% |
| Financial charges | 65/66B | €104 | €101 | -€3 | -3.1% |
| Recurring financial charges | 65 | €104 | €101 | -€3 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €134,250 | €93,224 | -€41,026 | -30.6% |
| Income taxes | 67/77 | €38,430 | €33,852 | -€4,579 | -11.9% |
| Profit (loss) for the period | 9904 | €95,820 | €59,372 | -€36,448 | -38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €95,820 | €59,372 | -€36,448 | -38.0% |
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 5 October 2026 via checked.be.