GESTUM: 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.
GESTUM
Largest movements
- Financial fixed assets +€850,000
up €850,000 (+105%), from €812,500 to €1.7m
- Tangible fixed assets +€108,168
up €108,168 (+4,072%), from €2,656 to €110,824
- Cash +€34,219
up €34,219 (+60.4%), from €56,613 to €90,832
mainly Net result for the year (+€575,584) and Debts after one year (+€304,681)
- Reserves +€575,584
up €575,584 (+47.6%), from €1.2m to €1.8m
- Debts after one year +€304,681
up €304,681 (+328%), from €92,857 to €397,538
- Current portion of long-term debt +€100,462
up €100,462 (+108%), from €92,857 to €193,319
- Financial income +€400,000
up €400,000 (+383%), from €104,516 to €504,516
- Gross operating margin -€34,306
down €34,306 (-16.5%), from €208,272 to €173,966
- Taxes +€20,869
up €20,869 (+27.1%), from €76,919 to €97,788
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 | €1,439,743 | €2,423,144 | +€983,401 | +68.3% |
| Fixed assets | 21/28 | €815,156 | €1,773,324 | +€958,168 | +118% |
| Tangible fixed assets | 22/27 | €2,656 | €110,824 | +€108,168 | +4,072% |
| Furniture and vehicles | 24 | €2,656 | €110,824 | +€108,168 | +4,072% |
| Financial fixed assets | 28 | €812,500 | €1,662,500 | +€850,000 | +105% |
| Current assets | 29/58 | €624,586 | €649,820 | +€25,234 | +4.0% |
| Amounts receivable after more than one year | 29 | €96,834 | €96,834 | = | 0.0% |
| Other amounts receivable | 291 | €96,834 | €96,834 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €469,099 | €458,787 | -€10,312 | -2.2% |
| Trade receivables | 40 | €333,225 | €153,973 | -€179,252 | -53.8% |
| Other amounts receivable | 41 | €135,874 | €304,815 | +€168,941 | +124% |
| Current investments | 50/53 | €56 | €56 | +€0 | +0.2% |
| Cash at bank and in hand | 54/58 | €56,613 | €90,832 | +€34,219 | +60.4% |
| Deferred charges and accrued income | 490/1 | €1,984 | €3,310 | +€1,326 | +66.8% |
| Total equity and liabilities | 10/49 | €1,439,743 | €2,423,144 | +€983,401 | +68.3% |
| Equity | 10/15 | €1,214,860 | €1,790,445 | +€575,584 | +47.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,208,660 | €1,784,245 | +€575,584 | +47.6% |
| Distributable reserves | 133 | €1,208,660 | €1,784,245 | +€575,584 | +47.6% |
| Amounts payable | 17/49 | €224,882 | €632,699 | +€407,817 | +181% |
| Amounts payable after more than one year | 17 | €92,857 | €397,538 | +€304,681 | +328% |
| Financial debts | 170/4 | €92,857 | €397,538 | +€304,681 | +328% |
| Amounts payable within one year | 42/48 | €131,816 | €234,084 | +€102,268 | +77.6% |
| Current portion of amounts payable after more than one year | 42 | €92,857 | €193,319 | +€100,462 | +108% |
| Trade debts | 44 | €1,597 | €1,645 | +€48 | +3.0% |
| Suppliers | 440/4 | €1,597 | €1,645 | +€48 | +3.0% |
| Taxes, remuneration and social security | 45 | €37,362 | €39,121 | +€1,758 | +4.7% |
| Taxes | 450/3 | €37,362 | €39,121 | +€1,758 | +4.7% |
| Accrued charges and deferred income | 492/3 | €209 | €1,077 | +€868 | +415% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,455 | €1,418 | -€37 | -2.6% |
| Other operating charges | 640/8 | €1,144 | €2,091 | +€947 | +82.7% |
| Gross operating margin | 9900 | €208,272 | €173,966 | -€34,306 | -16.5% |
| Operating profit (loss) | 9901 | €205,673 | €170,457 | -€35,216 | -17.1% |
| Financial income | 75/76B | €104,516 | €504,516 | +€400,000 | +383% |
| Recurring financial income | 75 | €104,516 | €504,516 | +€400,000 | +383% |
| Financial charges | 65/66B | €2,307 | €1,600 | -€706 | -30.6% |
| Recurring financial charges | 65 | €2,307 | €1,600 | -€706 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €307,882 | €673,372 | +€365,491 | +119% |
| Income taxes | 67/77 | €76,919 | €97,788 | +€20,869 | +27.1% |
| Profit (loss) for the period | 9904 | €230,963 | €575,584 | +€344,621 | +149% |
| Profit (loss) for the period to be appropriated | 9905 | €230,963 | €575,584 | +€344,621 | +149% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.