GUY ROTTIERS: 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.
GUY ROTTIERS
Largest movements
- Cash -€35,149
down €35,149 (-14.4%), from €244,313 to €209,164
mainly Contributions, distributions and other (-€64,062) and Trade debts (-€58,647)
- Tangible fixed assets -€19,791
down €19,791 (-35.2%), from €56,177 to €36,386
of which Furniture and vehicles: -€21,147
- Receivables within one year +€8,226
up €8,226 (+155.6%), from €5,287 to €13,513
of which Other amounts receivable: +€10,653
- Stocks and contracts -€6,222
down €6,222 (-44.7%), from €13,923 to €7,700
- Trade debts -€58,647
down €58,647 (-91.4%), from €64,152 to €5,505
- Reserves +€18,411
up €18,411 (+7.0%), from €263,327 to €281,738
- Current portion of long-term debt -€9,207
down €9,207 (-64.2%), from €14,330 to €5,123
- Debts after one year -€5,123
down €5,123 (-24.2%), from €21,151 to €16,028
- Gross operating margin +€56,722
up €56,722 (+38.8%), from €146,028 to €202,750
- Taxes +€14,822
up €14,822 (+79.6%), from €18,623 to €33,446
- Staff costs +€7,051
up €7,051 (+13.4%), from €52,559 to €59,610
- Depreciation -€3,501
down €3,501 (-12.7%), from €27,492 to €23,992
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 | €399,780 | €344,865 | -€54,915 | -13.7% |
| Fixed assets | 21/28 | €56,427 | €36,636 | -€19,791 | -35.1% |
| Tangible fixed assets | 22/27 | €56,177 | €36,386 | -€19,791 | -35.2% |
| Plant, machinery and equipment | 23 | €1,365 | €1,326 | -€39 | -2.9% |
| Furniture and vehicles | 24 | €48,429 | €27,282 | -€21,147 | -43.7% |
| Other tangible fixed assets | 26 | €6,383 | €7,778 | +€1,395 | +21.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €343,353 | €308,229 | -€35,124 | -10.2% |
| Stocks and contracts in progress | 3 | €13,923 | €7,700 | -€6,222 | -44.7% |
| Stocks | 30/36 | €13,923 | €7,700 | -€6,222 | -44.7% |
| Amounts receivable within one year | 40/41 | €5,287 | €13,513 | +€8,226 | +155.6% |
| Trade receivables | 40 | €5,287 | €2,860 | -€2,427 | -45.9% |
| Other amounts receivable | 41 | - | €10,653 | +€10,653 | |
| Current investments | 50/53 | €75,000 | €75,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €244,313 | €209,164 | -€35,149 | -14.4% |
| Deferred charges and accrued income | 490/1 | €4,831 | €2,852 | -€1,979 | -41.0% |
| Total equity and liabilities | 10/49 | €399,780 | €344,865 | -€54,915 | -13.7% |
| Equity | 10/15 | €269,527 | €287,938 | +€18,411 | +6.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €263,327 | €281,738 | +€18,411 | +7.0% |
| Distributable reserves | 133 | €263,327 | €281,738 | +€18,411 | +7.0% |
| Amounts payable | 17/49 | €130,253 | €56,927 | -€73,326 | -56.3% |
| Amounts payable after more than one year | 17 | €21,151 | €16,028 | -€5,123 | -24.2% |
| Financial debts | 170/4 | €21,151 | €16,028 | -€5,123 | -24.2% |
| Amounts payable within one year | 42/48 | €109,102 | €40,899 | -€68,203 | -62.5% |
| Current portion of amounts payable after more than one year | 42 | €14,330 | €5,123 | -€9,207 | -64.2% |
| Trade debts | 44 | €64,152 | €5,505 | -€58,647 | -91.4% |
| Suppliers | 440/4 | €64,152 | €5,505 | -€58,647 | -91.4% |
| Taxes, remuneration and social security | 45 | €23,129 | €23,393 | +€264 | +1.1% |
| Taxes | 450/3 | €18,324 | €18,542 | +€218 | +1.2% |
| Remuneration and social security | 454/9 | €4,804 | €4,851 | +€46 | +1.0% |
| Other amounts payable | 47/48 | €7,491 | €6,878 | -€613 | -8.2% |
| Non-recurring operating income | 76A | €14,595 | - | -€14,595 | |
| Remuneration, social security and pensions | 62 | €52,559 | €59,610 | +€7,051 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,492 | €23,992 | -€3,501 | -12.7% |
| Other operating charges | 640/8 | €1,036 | €1,436 | +€400 | +38.6% |
| Gross operating margin | 9900 | €146,028 | €202,750 | +€56,722 | +38.8% |
| Operating profit (loss) | 9901 | €64,941 | €117,712 | +€52,772 | +81.3% |
| Financial income | 75/76B | €669 | €380 | -€288 | -43.1% |
| Recurring financial income | 75 | €669 | €380 | -€288 | -43.1% |
| Financial charges | 65/66B | €1,577 | €2,175 | +€598 | +37.9% |
| Recurring financial charges | 65 | €1,577 | €2,175 | +€598 | +37.9% |
| Profit (loss) for the period before taxes | 9903 | €64,033 | €115,918 | +€51,886 | +81.0% |
| Transfer from deferred taxes | 780 | €360 | - | -€360 | |
| Income taxes | 67/77 | €18,623 | €33,446 | +€14,822 | +79.6% |
| Profit (loss) for the period | 9904 | €45,769 | €82,472 | +€36,703 | +80.2% |
| Transfer from tax-exempt reserves | 789 | €1,440 | - | -€1,440 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,209 | €82,472 | +€35,263 | +74.7% |
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 9 October 2026 via checked.be.