GUS MANAGEMENT: 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.
GUS MANAGEMENT
Largest movements
- Cash -€161,260
down €161,260 (-96.6%), from €166,951 to €5,691
mainly Receivables within one year (-€145,699) and Investment in fixed assets (net) (-€35,339)
- Receivables within one year +€145,699
up €145,699 (+83.9%), from €173,619 to €319,318
of which Other amounts receivable: +€149,567
- Tangible fixed assets +€25,565
up €25,565 (+231%), from €11,064 to €36,629
of which Plant, machinery and equipment: +€27,859
- Stocks and contracts -€10,299
down €10,299 (-8.9%), from €115,769 to €105,470
- Deferred charges and accrued income +€8,890
up €8,890 (+8,046%), from €110 to €9,000
- Reserves +€27,960
up €27,960 (+9.3%), from €300,954 to €328,914
- Trade debts -€12,421
down €12,421 (-12.9%), from €96,349 to €83,928
- Other debts +€6,358
up €6,358 (+14.2%), from €44,796 to €51,154
- Gross operating margin -€92,385
down €92,385 (-59.6%), from €155,062 to €62,676
- Taxes -€23,320
down €23,320 (-61.7%), from €37,772 to €14,452
- Financial income +€2,689
up €2,689 (+42.6%), from €6,311 to €9,000
- Financial charges -€2,676
down €2,676 (-42.5%), from €6,297 to €3,621
- Depreciation +€1,878
up €1,878 (+105%), from €1,782 to €3,660
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 | €467,513 | €482,221 | +€14,708 | +3.1% |
| Fixed assets | 21/28 | €11,064 | €42,743 | +€31,679 | +286% |
| Intangible fixed assets | 21 | - | €6,114 | +€6,114 | |
| Tangible fixed assets | 22/27 | €11,064 | €36,629 | +€25,565 | +231% |
| Plant, machinery and equipment | 23 | €3,160 | €31,020 | +€27,859 | +882% |
| Furniture and vehicles | 24 | €7,903 | €5,609 | -€2,294 | -29.0% |
| Current assets | 29/58 | €456,450 | €439,478 | -€16,971 | -3.7% |
| Stocks and contracts in progress | 3 | €115,769 | €105,470 | -€10,299 | -8.9% |
| Stocks | 30/36 | €115,769 | €105,470 | -€10,299 | -8.9% |
| Amounts receivable within one year | 40/41 | €173,619 | €319,318 | +€145,699 | +83.9% |
| Trade receivables | 40 | €15,000 | €11,132 | -€3,868 | -25.8% |
| Other amounts receivable | 41 | €158,619 | €308,186 | +€149,567 | +94.3% |
| Cash at bank and in hand | 54/58 | €166,951 | €5,691 | -€161,260 | -96.6% |
| Deferred charges and accrued income | 490/1 | €110 | €9,000 | +€8,890 | +8,046% |
| Total equity and liabilities | 10/49 | €467,513 | €482,221 | +€14,708 | +3.1% |
| Equity | 10/15 | €305,954 | €333,914 | +€27,960 | +9.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €300,954 | €328,914 | +€27,960 | +9.3% |
| Distributable reserves | 133 | €300,954 | €328,914 | +€27,960 | +9.3% |
| Amounts payable | 17/49 | €161,560 | €148,308 | -€13,252 | -8.2% |
| Amounts payable within one year | 42/48 | €155,390 | €144,842 | -€10,548 | -6.8% |
| Trade debts | 44 | €96,349 | €83,928 | -€12,421 | -12.9% |
| Suppliers | 440/4 | €96,349 | €83,928 | -€12,421 | -12.9% |
| Taxes, remuneration and social security | 45 | €14,244 | €9,760 | -€4,484 | -31.5% |
| Taxes | 450/3 | €11,828 | €5,421 | -€6,407 | -54.2% |
| Remuneration and social security | 454/9 | €2,416 | €4,340 | +€1,923 | +79.6% |
| Other amounts payable | 47/48 | €44,796 | €51,154 | +€6,358 | +14.2% |
| Accrued charges and deferred income | 492/3 | €6,170 | €3,466 | -€2,704 | -43.8% |
| Remuneration, social security and pensions | 62 | €21,312 | €21,374 | +€62 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,782 | €3,660 | +€1,878 | +105% |
| Other operating charges | 640/8 | €749 | €610 | -€140 | -18.6% |
| Gross operating margin | 9900 | €155,062 | €62,676 | -€92,385 | -59.6% |
| Operating profit (loss) | 9901 | €131,219 | €37,033 | -€94,186 | -71.8% |
| Financial income | 75/76B | €6,311 | €9,000 | +€2,689 | +42.6% |
| Recurring financial income | 75 | €6,311 | €9,000 | +€2,689 | +42.6% |
| Financial charges | 65/66B | €6,297 | €3,621 | -€2,676 | -42.5% |
| Recurring financial charges | 65 | €6,297 | €3,621 | -€2,676 | -42.5% |
| Profit (loss) for the period before taxes | 9903 | €131,233 | €42,412 | -€88,821 | -67.7% |
| Income taxes | 67/77 | €37,772 | €14,452 | -€23,320 | -61.7% |
| Profit (loss) for the period | 9904 | €93,461 | €27,960 | -€65,501 | -70.1% |
| Profit (loss) for the period to be appropriated | 9905 | €93,461 | €27,960 | -€65,501 | -70.1% |
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 23 October 2026 via checked.be.