franzgustav: 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.
franzgustav
Largest movements
- Cash -€21,850
down €21,850 (-98.9%), from €22,089 to €238
mainly Other debts (-€19,850) and Debts after one year (-€10,007)
- Tangible fixed assets -€10,146
down €10,146 (-9.2%), from €110,403 to €100,257
of which Land and buildings: -€9,876
- Other debts -€19,850
down €19,850 (-57.0%), from €34,814 to €14,964
- Debts after one year -€10,007
no longer reported in 2025 (was €10,007)
- Current portion of long-term debt -€6,674
down €6,674 (-39.6%), from €16,865 to €10,191
- Reserves +€5,058
up €5,058 (+5.0%), from €101,294 to €106,352
- Gross operating margin -€52,574
down €52,574 (-66.9%), from €78,616 to €26,041
- Taxes -€13,579
down €13,579 (-82.2%), from €16,512 to €2,933
- Other operating charges -€4,333
down €4,333 (-88.8%), from €4,877 to €544
- Financial charges -€4,144
down €4,144 (-68.7%), from €6,029 to €1,885
of which Financial charges: -€2,284
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 | €198,178 | €166,751 | -€31,427 | -15.9% |
| Fixed assets | 21/28 | €110,403 | €100,257 | -€10,146 | -9.2% |
| Tangible fixed assets | 22/27 | €110,403 | €100,257 | -€10,146 | -9.2% |
| Land and buildings | 22 | €109,062 | €99,186 | -€9,876 | -9.1% |
| Plant, machinery and equipment | 23 | €1,340 | €1,070 | -€270 | -20.1% |
| Current assets | 29/58 | €87,775 | €66,494 | -€21,281 | -24.2% |
| Amounts receivable within one year | 40/41 | €5,686 | €5,754 | +€68 | +1.2% |
| Trade receivables | 40 | €3,574 | €5,751 | +€2,177 | +60.9% |
| Other amounts receivable | 41 | €2,112 | €2 | -€2,110 | -99.9% |
| Current investments | 50/53 | €60,000 | €60,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,089 | €238 | -€21,850 | -98.9% |
| Deferred charges and accrued income | 490/1 | - | €502 | +€502 | |
| Total equity and liabilities | 10/49 | €198,178 | €166,751 | -€31,427 | -15.9% |
| Equity | 10/15 | €126,290 | €130,521 | +€4,231 | +3.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €101,294 | €106,352 | +€5,058 | +5.0% |
| Distributable reserves | 133 | €101,294 | €106,352 | +€5,058 | +5.0% |
| Investment grants | 15 | €4,996 | €4,169 | -€827 | -16.6% |
| Provisions and deferred taxes | 16 | €1,665 | €1,390 | -€276 | -16.6% |
| Deferred taxes | 168 | €1,665 | €1,390 | -€276 | -16.6% |
| Amounts payable | 17/49 | €70,222 | €34,840 | -€35,382 | -50.4% |
| Amounts payable after more than one year | 17 | €10,007 | - | -€10,007 | |
| Financial debts | 170/4 | €10,007 | - | -€10,007 | |
| Amounts payable within one year | 42/48 | €60,215 | €34,369 | -€25,846 | -42.9% |
| Current portion of amounts payable after more than one year | 42 | €16,865 | €10,191 | -€6,674 | -39.6% |
| Trade debts | 44 | €3,705 | €3,733 | +€28 | +0.8% |
| Suppliers | 440/4 | €3,705 | €3,733 | +€28 | +0.8% |
| Taxes, remuneration and social security | 45 | €4,831 | €5,480 | +€649 | +13.4% |
| Taxes | 450/3 | €4,831 | €4,946 | +€115 | +2.4% |
| Remuneration and social security | 454/9 | - | €535 | +€535 | |
| Other amounts payable | 47/48 | €34,814 | €14,964 | -€19,850 | -57.0% |
| Accrued charges and deferred income | 492/3 | - | €471 | +€471 | |
| Non-recurring operating income | 76A | €71,877 | - | -€71,877 | |
| Remuneration, social security and pensions | 62 | -€130 | - | +€130 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,747 | €17,851 | +€103 | +0.6% |
| Other operating charges | 640/8 | €4,877 | €544 | -€4,333 | -88.8% |
| Gross operating margin | 9900 | €78,616 | €26,041 | -€52,574 | -66.9% |
| Operating profit (loss) | 9901 | €56,122 | €7,647 | -€48,475 | -86.4% |
| Financial income | 75/76B | €1,454 | €2,229 | +€776 | +53.3% |
| Recurring financial income | 75 | €1,454 | €2,229 | +€776 | +53.3% |
| Financial charges | 65/66B | €6,029 | €1,885 | -€4,144 | -68.7% |
| Recurring financial charges | 65 | €4,169 | €1,885 | -€2,284 | -54.8% |
| Non-recurring financial charges | 66B | €1,860 | - | -€1,860 | |
| Profit (loss) for the period before taxes | 9903 | €51,546 | €7,991 | -€43,556 | -84.5% |
| Income taxes | 67/77 | €16,512 | €2,933 | -€13,579 | -82.2% |
| Profit (loss) for the period | 9904 | €35,035 | €5,058 | -€29,977 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,035 | €5,058 | -€29,977 | -85.6% |
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 18 October 2026 via checked.be.