AP GUSTO: 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.
AP GUSTO
Largest movements
- Tangible fixed assets -€44,865
down €44,865 (-100%), from €44,865 to €0
- Receivables within one year +€9,871
up €9,871 (+24.2%), from €40,723 to €50,594
of which Trade receivables: +€5,511
- Cash +€9,421
up €9,421 (+109%), from €8,642 to €18,063
mainly Investment in fixed assets (net) (+€44,865) and Net result for the year (+€37,625)
- Profit (loss) carried forward +€37,625
up €37,625 (+25.4%), from -€147,885 to -€110,260
- Trade debts -€27,751
down €27,751 (-48.9%), from €56,736 to €28,985
- Current portion of long-term debt -€12,543
down €12,543 (-91.3%), from €13,745 to €1,202
- Other debts -€11,126
down €11,126 (-6.4%), from €172,957 to €161,830
- Tax, wage and social debts -€7,770
down €7,770 (-93.8%), from €8,283 to €513
of which Remuneration and social security: -€6,172
- Write-downs +€56,416
new in 2025: €56,416
- Staff costs -€50,964
down €50,964 (-83.7%), from €60,884 to €9,920
- Depreciation -€25,005
no longer reported in 2025 (was €25,005)
- Gross operating margin -€5,772
down €5,772 (-4.9%), from €117,016 to €111,244
- Financial charges +€4,535
up €4,535 (+215%), from €2,112 to €6,646
of which Non-recurring financial charges: +€4,957
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 | €117,842 | €92,269 | -€25,573 | -21.7% |
| Fixed assets | 21/28 | €45,365 | €500 | -€44,865 | -98.9% |
| Tangible fixed assets | 22/27 | €44,865 | €0 | -€44,865 | -100% |
| Plant, machinery and equipment | 23 | €18,448 | - | -€18,448 | |
| Furniture and vehicles | 24 | €11,989 | - | -€11,989 | |
| Other tangible fixed assets | 26 | €14,428 | €0 | -€14,428 | -100% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €72,477 | €91,769 | +€19,292 | +26.6% |
| Stocks and contracts in progress | 3 | €23,112 | €23,112 | = | 0.0% |
| Stocks | 30/36 | €23,112 | €23,112 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,723 | €50,594 | +€9,871 | +24.2% |
| Trade receivables | 40 | €1,135 | €6,646 | +€5,511 | +485% |
| Other amounts receivable | 41 | €39,587 | €43,947 | +€4,360 | +11.0% |
| Cash at bank and in hand | 54/58 | €8,642 | €18,063 | +€9,421 | +109% |
| Total equity and liabilities | 10/49 | €117,842 | €92,269 | -€25,573 | -21.7% |
| Equity | 10/15 | -€137,885 | -€100,260 | +€37,625 | +27.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€147,885 | -€110,260 | +€37,625 | +25.4% |
| Amounts payable | 17/49 | €255,727 | €192,530 | -€63,198 | -24.7% |
| Amounts payable after more than one year | 17 | €3,187 | - | -€3,187 | |
| Financial debts | 170/4 | €3,187 | - | -€3,187 | |
| Amounts payable within one year | 42/48 | €252,541 | €192,530 | -€60,011 | -23.8% |
| Current portion of amounts payable after more than one year | 42 | €13,745 | €1,202 | -€12,543 | -91.3% |
| Financial debts | 43 | €821 | - | -€821 | |
| Credit institutions | 430/8 | €821 | - | -€821 | |
| Trade debts | 44 | €56,736 | €28,985 | -€27,751 | -48.9% |
| Suppliers | 440/4 | €56,736 | €28,985 | -€27,751 | -48.9% |
| Taxes, remuneration and social security | 45 | €8,283 | €513 | -€7,770 | -93.8% |
| Taxes | 450/3 | €1,597 | - | -€1,597 | |
| Remuneration and social security | 454/9 | €6,686 | €513 | -€6,172 | -92.3% |
| Other amounts payable | 47/48 | €172,957 | €161,830 | -€11,126 | -6.4% |
| Remuneration, social security and pensions | 62 | €60,884 | €9,920 | -€50,964 | -83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,005 | - | -€25,005 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €56,416 | +€56,416 | |
| Other operating charges | 640/8 | €3,117 | €637 | -€2,480 | -79.6% |
| Gross operating margin | 9900 | €117,016 | €111,244 | -€5,772 | -4.9% |
| Operating profit (loss) | 9901 | €28,010 | €44,271 | +€16,262 | +58.1% |
| Financial income | 75/76B | €12 | - | -€12 | |
| Recurring financial income | 75 | €12 | - | -€12 | |
| Financial charges | 65/66B | €2,112 | €6,646 | +€4,535 | +215% |
| Recurring financial charges | 65 | €2,112 | €1,689 | -€422 | -20.0% |
| Non-recurring financial charges | 66B | - | €4,957 | +€4,957 | |
| Profit (loss) for the period before taxes | 9903 | €25,910 | €37,625 | +€11,715 | +45.2% |
| Profit (loss) for the period | 9904 | €25,910 | €37,625 | +€11,715 | +45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,910 | €37,625 | +€11,715 | +45.2% |
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 13 October 2026 via checked.be.