VIRGINIE GUILBERT: 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.
VIRGINIE GUILBERT
Largest movements
- Receivables within one year +€12,607
up €12,607 (+27.9%), from €45,132 to €57,739
of which Other amounts receivable: +€11,360
- Deferred charges and accrued income +€3,428
up €3,428 (+229%), from €1,495 to €4,922
- Tangible fixed assets +€2,570
up €2,570 (+140%), from €1,842 to €4,412
of which Plant, machinery and equipment: +€1,526
- Cash +€1,172
up €1,172 (+15.5%), from €7,585 to €8,757
mainly Net result for the year (+€11,934) and Trade debts (+€8,573)
- Reserves +€11,934
up €11,934 (+55.5%), from €21,487 to €33,421
of which Distributable reserves: +€11,934
- Trade debts +€8,573
up €8,573 (+120%), from €7,155 to €15,728
- Tax, wage and social debts -€1,665
down €1,665 (-6.7%), from €24,691 to €23,026
- Accrued charges and deferred income +€935
new in 2025: €935
- Gross operating margin +€6,050
up €6,050 (+40.6%), from €14,920 to €20,971
- Taxes +€2,046
up €2,046 (+33.4%), from €6,118 to €8,163
- Other operating charges +€1,202
up €1,202 (+310%), from €387 to €1,590
- Financial income +€480
up €480 (+24.0%), from €2,005 to €2,485
- Depreciation -€417
down €417 (-29.1%), from €1,433 to €1,016
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 | €59,533 | €79,310 | +€19,776 | +33.2% |
| Fixed assets | 21/28 | €5,322 | €7,892 | +€2,570 | +48.3% |
| Tangible fixed assets | 22/27 | €1,842 | €4,412 | +€2,570 | +140% |
| Plant, machinery and equipment | 23 | - | €1,526 | +€1,526 | |
| Furniture and vehicles | 24 | €1,842 | €2,886 | +€1,044 | +56.7% |
| Financial fixed assets | 28 | €3,480 | €3,480 | = | 0.0% |
| Current assets | 29/58 | €54,212 | €71,418 | +€17,207 | +31.7% |
| Amounts receivable within one year | 40/41 | €45,132 | €57,739 | +€12,607 | +27.9% |
| Trade receivables | 40 | €4,944 | €6,191 | +€1,247 | +25.2% |
| Other amounts receivable | 41 | €40,188 | €51,548 | +€11,360 | +28.3% |
| Cash at bank and in hand | 54/58 | €7,585 | €8,757 | +€1,172 | +15.5% |
| Deferred charges and accrued income | 490/1 | €1,495 | €4,922 | +€3,428 | +229% |
| Total equity and liabilities | 10/49 | €59,533 | €79,310 | +€19,776 | +33.2% |
| Equity | 10/15 | €27,687 | €39,621 | +€11,934 | +43.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €21,487 | €33,421 | +€11,934 | +55.5% |
| Non-distributable reserves | 130/1 | €105 | €105 | = | 0.0% |
| Reserves not available under the articles | 1311 | €105 | €105 | = | 0.0% |
| Distributable reserves | 133 | €21,382 | €33,316 | +€11,934 | +55.8% |
| Amounts payable | 17/49 | €31,846 | €39,689 | +€7,842 | +24.6% |
| Amounts payable within one year | 42/48 | €31,846 | €38,754 | +€6,907 | +21.7% |
| Trade debts | 44 | €7,155 | €15,728 | +€8,573 | +120% |
| Suppliers | 440/4 | €7,155 | €15,728 | +€8,573 | +120% |
| Taxes, remuneration and social security | 45 | €24,691 | €23,026 | -€1,665 | -6.7% |
| Taxes | 450/3 | €24,691 | €23,026 | -€1,665 | -6.7% |
| Accrued charges and deferred income | 492/3 | - | €935 | +€935 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,433 | €1,016 | -€417 | -29.1% |
| Other operating charges | 640/8 | €387 | €1,590 | +€1,202 | +310% |
| Gross operating margin | 9900 | €14,920 | €20,971 | +€6,050 | +40.6% |
| Operating profit (loss) | 9901 | €13,100 | €18,365 | +€5,265 | +40.2% |
| Financial income | 75/76B | €2,005 | €2,485 | +€480 | +24.0% |
| Recurring financial income | 75 | €2,005 | €2,485 | +€480 | +24.0% |
| Financial charges | 65/66B | €1,097 | €753 | -€345 | -31.4% |
| Recurring financial charges | 65 | €1,097 | €753 | -€345 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €14,008 | €20,097 | +€6,089 | +43.5% |
| Income taxes | 67/77 | €6,118 | €8,163 | +€2,046 | +33.4% |
| Profit (loss) for the period | 9904 | €7,890 | €11,934 | +€4,044 | +51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,890 | €11,934 | +€4,044 | +51.3% |
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 29 October 2026 via checked.be.