GUSAR CREATION: 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.
GUSAR CREATION
Largest movements
- Receivables within one year +€16,644
up €16,644 (+123%), from €13,530 to €30,174
of which Other amounts receivable: +€10,197
- Tangible fixed assets +€8,569
up €8,569 (+66.2%), from €12,951 to €21,520
of which Leasing and similar rights: +€6,607
- Cash -€3,695
down €3,695 (-31.0%), from €11,922 to €8,228
mainly Receivables within one year (-€16,644) and Investment in fixed assets (net) (-€13,779)
- Deferred charges and accrued income -€656
down €656 (-79.2%), from €827 to €172
- Profit (loss) carried forward +€21,924
up €21,924 (+128%), from €17,186 to €39,110
- Tax, wage and social debts +€8,332
up €8,332 (+265%), from €3,150 to €11,482
- Other debts -€6,515
no longer reported in 2025 (was €6,515)
- Debts after one year -€2,000
no longer reported in 2025 (was €2,000)
- Current portion of long-term debt -€878
down €878 (-30.5%), from €2,878 to €2,000
- Gross operating margin +€22,426
up €22,426 (+192%), from €11,698 to €34,124
- Taxes +€5,178
new in 2025: €5,178
- Depreciation -€1,220
down €1,220 (-19.0%), from €6,430 to €5,210
- Financial charges +€446
up €446 (+68.5%), from €652 to €1,098
- Financial income +€397
new in 2025: €397
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 | €39,230 | €60,093 | +€20,862 | +53.2% |
| Fixed assets | 21/28 | €12,951 | €21,520 | +€8,569 | +66.2% |
| Tangible fixed assets | 22/27 | €12,951 | €21,520 | +€8,569 | +66.2% |
| Plant, machinery and equipment | 23 | €3,979 | €2,826 | -€1,153 | -29.0% |
| Furniture and vehicles | 24 | €8,972 | €12,086 | +€3,114 | +34.7% |
| Leasing and similar rights | 25 | €0 | €6,607 | +€6,607 | |
| Current assets | 29/58 | €26,280 | €38,573 | +€12,294 | +46.8% |
| Amounts receivable within one year | 40/41 | €13,530 | €30,174 | +€16,644 | +123% |
| Trade receivables | 40 | €9,699 | €16,146 | +€6,447 | +66.5% |
| Other amounts receivable | 41 | €3,831 | €14,027 | +€10,197 | +266% |
| Cash at bank and in hand | 54/58 | €11,922 | €8,228 | -€3,695 | -31.0% |
| Deferred charges and accrued income | 490/1 | €827 | €172 | -€656 | -79.2% |
| Total equity and liabilities | 10/49 | €39,230 | €60,093 | +€20,862 | +53.2% |
| Equity | 10/15 | €24,686 | €46,610 | +€21,924 | +88.8% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,186 | €39,110 | +€21,924 | +128% |
| Amounts payable | 17/49 | €14,544 | €13,483 | -€1,061 | -7.3% |
| Amounts payable after more than one year | 17 | €2,000 | - | -€2,000 | |
| Financial debts | 170/4 | €2,000 | - | -€2,000 | |
| Amounts payable within one year | 42/48 | €12,544 | €13,483 | +€939 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €2,878 | €2,000 | -€878 | -30.5% |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €3,150 | €11,482 | +€8,332 | +265% |
| Taxes | 450/3 | €3,150 | €11,482 | +€8,332 | +265% |
| Other amounts payable | 47/48 | €6,515 | - | -€6,515 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,430 | €5,210 | -€1,220 | -19.0% |
| Other operating charges | 640/8 | €858 | €1,111 | +€253 | +29.5% |
| Gross operating margin | 9900 | €11,698 | €34,124 | +€22,426 | +192% |
| Operating profit (loss) | 9901 | €4,410 | €27,803 | +€23,393 | +530% |
| Financial income | 75/76B | - | €397 | +€397 | |
| Recurring financial income | 75 | - | €397 | +€397 | |
| Financial charges | 65/66B | €652 | €1,098 | +€446 | +68.5% |
| Recurring financial charges | 65 | €652 | €1,098 | +€446 | +68.5% |
| Profit (loss) for the period before taxes | 9903 | €3,758 | €27,101 | +€23,343 | +621% |
| Income taxes | 67/77 | - | €5,178 | +€5,178 | |
| Profit (loss) for the period | 9904 | €3,758 | €21,924 | +€18,166 | +483% |
| Profit (loss) for the period to be appropriated | 9905 | €3,758 | €21,924 | +€18,166 | +483% |
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 15 October 2026 via checked.be.