NEW GULKO: 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.
NEW GULKO
Largest movements
- Receivables within one year +€4,580
up €4,580 (+99.3%), from €4,611 to €9,191
of which Trade receivables: +€3,037
- Tangible fixed assets -€1,826
down €1,826 (-10.4%), from €17,532 to €15,706
- Cash -€1,681
down €1,681 (-40.4%), from €4,165 to €2,484
mainly Receivables within one year (-€4,580) and Tax, wage and social debts (-€4,500)
- Stocks and contracts +€426
up €426 (+6.0%), from €7,051 to €7,476
- Formation expenses -€399
down €399 (-25.0%), from €1,597 to €1,198
- Tax, wage and social debts -€4,500
down €4,500 (-77.3%), from €5,821 to €1,321
- Trade debts +€3,046
up €3,046 (+43.1%), from €7,074 to €10,120
- Other debts +€2,000
up €2,000 (+5.9%), from €33,701 to €35,701
- Profit (loss) carried forward +€486
up €486 (+4.6%), from -€10,466 to -€9,980
- Turnover +€89,102
up €89,102 (+77.5%), from €114,908 to €204,009
- Purchases and services +€84,081
up €84,081 (+70.8%), from €118,698 to €202,779
- Gross operating margin +€10,434
up €10,434, from -€3,791 to €6,643
- Other operating charges +€2,414
new in 2025: €2,414
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 | €36,131 | €37,163 | +€1,032 | +2.9% |
| Formation expenses | 20 | €1,597 | €1,198 | -€399 | -25.0% |
| Fixed assets | 21/28 | €17,532 | €15,706 | -€1,826 | -10.4% |
| Tangible fixed assets | 22/27 | €17,532 | €15,706 | -€1,826 | -10.4% |
| Plant, machinery and equipment | 23 | €17,532 | €15,706 | -€1,826 | -10.4% |
| Current assets | 29/58 | €17,002 | €20,259 | +€3,257 | +19.2% |
| Stocks and contracts in progress | 3 | €7,051 | €7,476 | +€426 | +6.0% |
| Stocks | 30/36 | €7,051 | €7,476 | +€426 | +6.0% |
| Amounts receivable within one year | 40/41 | €4,611 | €9,191 | +€4,580 | +99.3% |
| Trade receivables | 40 | €2,066 | €5,103 | +€3,037 | +147% |
| Other amounts receivable | 41 | €2,545 | €4,088 | +€1,543 | +60.6% |
| Cash at bank and in hand | 54/58 | €4,165 | €2,484 | -€1,681 | -40.4% |
| Deferred charges and accrued income | 490/1 | €1,176 | €1,108 | -€67 | -5.7% |
| Total equity and liabilities | 10/49 | €36,131 | €37,163 | +€1,032 | +2.9% |
| Equity | 10/15 | -€10,465 | -€9,979 | +€486 | +4.6% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Capital | 10 | €1 | €1 | = | 0.0% |
| Issued capital | 100 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,466 | -€9,980 | +€486 | +4.6% |
| Amounts payable | 17/49 | €46,595 | €47,142 | +€546 | +1.2% |
| Amounts payable within one year | 42/48 | €46,595 | €47,142 | +€546 | +1.2% |
| Trade debts | 44 | €7,074 | €10,120 | +€3,046 | +43.1% |
| Suppliers | 440/4 | €7,074 | €10,120 | +€3,046 | +43.1% |
| Taxes, remuneration and social security | 45 | €5,821 | €1,321 | -€4,500 | -77.3% |
| Remuneration and social security | 454/9 | €5,821 | €1,321 | -€4,500 | -77.3% |
| Other amounts payable | 47/48 | €33,701 | €35,701 | +€2,000 | +5.9% |
| Turnover | 70 | €114,908 | €204,009 | +€89,102 | +77.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €118,698 | €202,779 | +€84,081 | +70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,125 | €2,225 | +€1,100 | +97.7% |
| Other operating charges | 640/8 | - | €2,414 | +€2,414 | |
| Gross operating margin | 9900 | -€3,791 | €6,643 | +€10,434 | |
| Operating profit (loss) | 9901 | -€4,916 | €2,004 | +€6,920 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,006 | €1,518 | +€512 | +50.9% |
| Recurring financial charges | 65 | €1,006 | €1,518 | +€512 | +50.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,922 | €486 | +€6,408 | |
| Profit (loss) for the period | 9904 | -€5,922 | €486 | +€6,408 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,922 | €486 | +€6,408 |
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 20 October 2026 via checked.be.