GWENOLE: 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.
GWENOLE
Largest movements
- Tangible fixed assets -€14,558
down €14,558 (-5.7%), from €253,835 to €239,277
- Debts after one year -€27,837
down €27,837 (-46.5%), from €59,816 to €31,979
- Reserves +€9,789
up €9,789 (+27.4%), from €35,742 to €45,531
- Turnover -€37,361
no longer reported in 2026 (was €37,361)
- Purchases and services -€3,115
no longer reported in 2026 (was €3,115)
- Financial charges -€1,458
down €1,458 (-25.1%), from €5,816 to €4,358
- Taxes -€725
down €725 (-21.5%), from €3,373 to €2,648
- Gross operating margin -€509
down €509 (-1.5%), from €34,246 to €33,737
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €255,200 | €241,258 | -€13,942 | -5.5% |
| Fixed assets | 21/28 | €253,835 | €239,277 | -€14,558 | -5.7% |
| Tangible fixed assets | 22/27 | €253,835 | €239,277 | -€14,558 | -5.7% |
| Land and buildings | 22 | €253,835 | €239,277 | -€14,558 | -5.7% |
| Current assets | 29/58 | €1,365 | €1,981 | +€616 | +45.1% |
| Cash at bank and in hand | 54/58 | €1,365 | - | -€1,365 | |
| Deferred charges and accrued income | 490/1 | - | €1,981 | +€1,981 | |
| Total equity and liabilities | 10/49 | €255,200 | €241,258 | -€13,942 | -5.5% |
| Equity | 10/15 | €95,968 | €105,757 | +€9,789 | +10.2% |
| Contributions | 10/11 | €60,226 | €60,226 | = | 0.0% |
| Reserves | 13 | €35,742 | €45,531 | +€9,789 | +27.4% |
| Distributable reserves | 133 | €35,742 | €45,531 | +€9,789 | +27.4% |
| Amounts payable | 17/49 | €159,232 | €135,501 | -€23,731 | -14.9% |
| Amounts payable after more than one year | 17 | €59,816 | €31,979 | -€27,837 | -46.5% |
| Financial debts | 170/4 | €59,816 | €31,979 | -€27,837 | -46.5% |
| Amounts payable within one year | 42/48 | €99,416 | €103,522 | +€4,106 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €26,311 | €27,837 | +€1,526 | +5.8% |
| Financial debts | 43 | - | €717 | +€717 | |
| Credit institutions | 430/8 | - | €717 | +€717 | |
| Trade debts | 44 | €1,515 | €1,527 | +€12 | +0.8% |
| Suppliers | 440/4 | €1,515 | €1,527 | +€12 | +0.8% |
| Taxes, remuneration and social security | 45 | €4,803 | €4,659 | -€144 | -3.0% |
| Taxes | 450/3 | €4,803 | €4,659 | -€144 | -3.0% |
| Other amounts payable | 47/48 | €66,787 | €68,782 | +€1,995 | +3.0% |
| Turnover | 70 | €37,361 | - | -€37,361 | |
| Goods, raw materials, services and sundry goods | 60/61 | €3,115 | - | -€3,115 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,591 | €14,757 | +€166 | +1.1% |
| Other operating charges | 640/8 | €2,252 | €2,185 | -€67 | -3.0% |
| Gross operating margin | 9900 | €34,246 | €33,737 | -€509 | -1.5% |
| Operating profit (loss) | 9901 | €17,403 | €16,795 | -€608 | -3.5% |
| Financial charges | 65/66B | €5,816 | €4,358 | -€1,458 | -25.1% |
| Recurring financial charges | 65 | €5,816 | €4,358 | -€1,458 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €11,587 | €12,437 | +€850 | +7.3% |
| Income taxes | 67/77 | €3,373 | €2,648 | -€725 | -21.5% |
| Profit (loss) for the period | 9904 | €8,214 | €9,789 | +€1,575 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,214 | €9,789 | +€1,575 | +19.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.