GUY HAEGEMAN: 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.
What changed
GUY HAEGEMAN
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,083
2024 · -€1,343+€5,426
Equity
€293,283
2024 · €289,200+€4,083
Cash
€8,435
2024 · €10,816-€2,381
Balance sheet total
€550,151
2024 · €561,718-€11,567
Largest movements
Assets
- Tangible fixed assets -€8,028
down €8,028 (-1.5%), from €543,077 to €535,049
of which Land and buildings: -€14,277
Equity and liabilities
- Profit (loss) carried forward +€13,236
up €13,236 (+15.9%), from -€83,360 to -€70,124
- Debts after one year -€13,038
down €13,038 (-10.2%), from €128,210 to €115,172
- Reserves -€9,153
down €9,153 (-2.6%), from €353,960 to €344,807
of which Tax-exempt reserves: -€9,153
Income statement
- Gross operating margin +€8,368
up €8,368 (+16.7%), from €50,170 to €58,538
- Taxes +€1,889
up €1,889 (+61.3%), from €3,081 to €4,970
- Depreciation +€850
up €850 (+5.8%), from €14,654 to €15,504
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.
Result 2024
-€1,343
Gross operating margin
+€8,368
Staff costs
-€456
Depreciation
-€850
Other operating charges
+€72
Financial income
+€5
Financial charges
+€176
Taxes
-€1,889
Result 2025
€4,083
raises the resultlowers the result
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.
From operations
+€20,566
Investment
-€7,476
Financing
-€15,471
Cash 2024
€10,816
From operations (derived)
+€20,566
Net result for the year
+€4,083
Depreciation
+€15,504
Receivables within one year
+€1,194
Deferred charges and accrued income
-€36
Provisions
-€3,051
Trade debts
-€1,571
Tax, wage and social debts
+€3,443
Other debts
+€1,000
Investment (derived)
-€7,476
Investment in fixed assets (net)
-€7,476
Financing
-€15,471
Debts after one year
-€13,038
Current portion of long-term debt
-€2,432
Contributions, distributions and other
-€0
Cash 2025
€8,435
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €561,718 | €550,151 | -€11,567 | -2.1% |
| Fixed assets | 21/28 | €543,077 | €535,049 | -€8,028 | -1.5% |
| Tangible fixed assets | 22/27 | €543,077 | €535,049 | -€8,028 | -1.5% |
| Land and buildings | 22 | €541,986 | €527,709 | -€14,277 | -2.6% |
| Plant, machinery and equipment | 23 | €1,091 | - | -€1,091 | |
| Furniture and vehicles | 24 | - | €7,340 | +€7,340 | |
| Current assets | 29/58 | €18,641 | €15,102 | -€3,539 | -19.0% |
| Amounts receivable within one year | 40/41 | €7,008 | €5,814 | -€1,194 | -17.0% |
| Trade receivables | 40 | €6,035 | €5,749 | -€286 | -4.7% |
| Other amounts receivable | 41 | €973 | €64 | -€909 | -93.4% |
| Cash at bank and in hand | 54/58 | €10,816 | €8,435 | -€2,381 | -22.0% |
| Deferred charges and accrued income | 490/1 | €817 | €853 | +€36 | +4.4% |
| Total equity and liabilities | 10/49 | €561,718 | €550,151 | -€11,567 | -2.1% |
| Equity | 10/15 | €289,200 | €293,283 | +€4,083 | +1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €353,960 | €344,807 | -€9,153 | -2.6% |
| Tax-exempt reserves | 132 | €259,327 | €250,174 | -€9,153 | -3.5% |
| Distributable reserves | 133 | €94,633 | €94,633 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€83,360 | -€70,124 | +€13,236 | +15.9% |
| Provisions and deferred taxes | 16 | €86,442 | €83,391 | -€3,051 | -3.5% |
| Deferred taxes | 168 | €86,442 | €83,391 | -€3,051 | -3.5% |
| Amounts payable | 17/49 | €186,076 | €173,477 | -€12,599 | -6.8% |
| Amounts payable after more than one year | 17 | €128,210 | €115,172 | -€13,038 | -10.2% |
| Financial debts | 170/4 | €128,210 | €115,172 | -€13,038 | -10.2% |
| Amounts payable within one year | 42/48 | €57,866 | €58,305 | +€439 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €16,819 | €14,387 | -€2,432 | -14.5% |
| Trade debts | 44 | €4,671 | €3,100 | -€1,571 | -33.6% |
| Suppliers | 440/4 | €4,671 | €3,100 | -€1,571 | -33.6% |
| Taxes, remuneration and social security | 45 | €8,443 | €11,886 | +€3,443 | +40.8% |
| Taxes | 450/3 | €3,612 | €4,420 | +€808 | +22.4% |
| Remuneration and social security | 454/9 | €4,831 | €7,466 | +€2,635 | +54.5% |
| Other amounts payable | 47/48 | €27,933 | €28,933 | +€1,000 | +3.6% |
| Remuneration, social security and pensions | 62 | €29,592 | €30,048 | +€456 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,654 | €15,504 | +€850 | +5.8% |
| Other operating charges | 640/8 | €4,328 | €4,256 | -€72 | -1.7% |
| Gross operating margin | 9900 | €50,170 | €58,538 | +€8,368 | +16.7% |
| Operating profit (loss) | 9901 | €1,596 | €8,731 | +€7,135 | +447% |
| Financial income | 75/76B | €11 | €16 | +€5 | +43.3% |
| Recurring financial income | 75 | €11 | €16 | +€5 | +43.3% |
| Financial charges | 65/66B | €2,920 | €2,744 | -€176 | -6.0% |
| Recurring financial charges | 65 | €2,920 | €2,744 | -€176 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,313 | €6,002 | +€7,315 | |
| Transfer from deferred taxes | 780 | €3,051 | €3,051 | -€0 | 0.0% |
| Income taxes | 67/77 | €3,081 | €4,970 | +€1,889 | +61.3% |
| Profit (loss) for the period | 9904 | -€1,343 | €4,083 | +€5,426 | |
| Transfer from tax-exempt reserves | 789 | €9,153 | €9,153 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,810 | €13,236 | +€5,426 | +69.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.