GUY WOUTERS: 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 WOUTERS
Largest movements
- Cash +€9,396
up €9,396 (+23.3%), from €40,348 to €49,744
mainly Other debts (+€20,662) and Depreciation (+€6,615)
- Tangible fixed assets -€6,615
down €6,615 (-25.0%), from €26,459 to €19,844
- Receivables within one year -€3,026
down €3,026 (-38.0%), from €7,956 to €4,930
of which Trade receivables: -€2,984
- Stocks and contracts -€2,209
down €2,209 (-17.2%), from €12,874 to €10,665
- Other debts +€20,662
up €20,662 (+285%), from €7,262 to €27,924
- Trade debts -€16,318
down €16,318 (-64.5%), from €25,317 to €8,999
- Profit (loss) carried forward -€6,798
down €6,798 (-22.6%), from €30,125 to €23,327
- Gross operating margin +€5,984
up €5,984, from -€5,322 to €662
- Depreciation -€836
down €836 (-11.2%), from €7,451 to €6,615
- Staff costs -€299
no longer reported in 2025 (was €299)
- Other operating charges -€220
down €220 (-22.5%), from €976 to €756
- Financial charges +€129
up €129 (+139%), from €93 to €222
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 | €88,113 | €85,659 | -€2,454 | -2.8% |
| Fixed assets | 21/28 | €26,935 | €20,320 | -€6,615 | -24.6% |
| Tangible fixed assets | 22/27 | €26,459 | €19,844 | -€6,615 | -25.0% |
| Furniture and vehicles | 24 | €26,459 | €19,844 | -€6,615 | -25.0% |
| Financial fixed assets | 28 | €476 | €476 | = | 0.0% |
| Current assets | 29/58 | €61,178 | €65,339 | +€4,161 | +6.8% |
| Stocks and contracts in progress | 3 | €12,874 | €10,665 | -€2,209 | -17.2% |
| Stocks | 30/36 | €12,874 | €10,665 | -€2,209 | -17.2% |
| Amounts receivable within one year | 40/41 | €7,956 | €4,930 | -€3,026 | -38.0% |
| Trade receivables | 40 | €7,603 | €4,619 | -€2,984 | -39.2% |
| Other amounts receivable | 41 | €353 | €311 | -€42 | -11.9% |
| Cash at bank and in hand | 54/58 | €40,348 | €49,744 | +€9,396 | +23.3% |
| Total equity and liabilities | 10/49 | €88,113 | €85,659 | -€2,454 | -2.8% |
| Equity | 10/15 | €55,534 | €48,736 | -€6,798 | -12.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | - | €18,592 | +€18,592 | |
| Issued capital | 100 | - | €18,592 | +€18,592 | |
| Reserves | 13 | €6,817 | €6,817 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | - | €1,859 | +€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €4,958 | €4,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,125 | €23,327 | -€6,798 | -22.6% |
| Amounts payable | 17/49 | €32,579 | €36,923 | +€4,344 | +13.3% |
| Amounts payable within one year | 42/48 | €32,579 | €36,923 | +€4,344 | +13.3% |
| Trade debts | 44 | €25,317 | €8,999 | -€16,318 | -64.5% |
| Suppliers | 440/4 | €25,317 | €8,999 | -€16,318 | -64.5% |
| Other amounts payable | 47/48 | €7,262 | €27,924 | +€20,662 | +285% |
| Remuneration, social security and pensions | 62 | €299 | - | -€299 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,451 | €6,615 | -€836 | -11.2% |
| Other operating charges | 640/8 | €976 | €756 | -€220 | -22.5% |
| Gross operating margin | 9900 | -€5,322 | €662 | +€5,984 | |
| Operating profit (loss) | 9901 | -€14,048 | -€6,709 | +€7,339 | +52.2% |
| Financial income | 75/76B | €80 | €184 | +€104 | +130% |
| Recurring financial income | 75 | €80 | €184 | +€104 | +130% |
| Financial charges | 65/66B | €93 | €222 | +€129 | +139% |
| Recurring financial charges | 65 | €93 | €222 | +€129 | +139% |
| Profit (loss) for the period before taxes | 9903 | -€14,061 | -€6,747 | +€7,314 | +52.0% |
| Income taxes | 67/77 | - | €50 | +€50 | |
| Profit (loss) for the period | 9904 | -€14,061 | -€6,797 | +€7,264 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,061 | -€6,797 | +€7,264 | +51.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.