GUSHENG: 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.
GUSHENG
Largest movements
- Cash -€47,174
down €47,174 (-89.6%), from €52,671 to €5,496
mainly Contributions, distributions and other (-€49,800) and Other debts (-€24,970)
- Receivables within one year +€22,233
up €22,233 (+158%), from €14,067 to €36,300
of which Trade receivables: +€24,200
- Tangible fixed assets -€1,951
down €1,951 (-49.8%), from €3,920 to €1,969
of which Plant, machinery and equipment: -€1,212
- Other debts -€24,970
down €24,970 (-58.7%), from €42,520 to €17,549
- Trade debts -€2,354
down €2,354 (-63.0%), from €3,733 to €1,379
- Gross operating margin +€13,824
up €13,824 (+23.1%), from €59,889 to €73,713
- Taxes +€3,473
up €3,473 (+23.1%), from €15,033 to €18,506
- Other operating charges -€1,645
down €1,645 (-68.7%), from €2,393 to €748
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 | €72,981 | €46,121 | -€26,860 | -36.8% |
| Fixed assets | 21/28 | €3,920 | €1,969 | -€1,951 | -49.8% |
| Tangible fixed assets | 22/27 | €3,920 | €1,969 | -€1,951 | -49.8% |
| Plant, machinery and equipment | 23 | €3,180 | €1,969 | -€1,212 | -38.1% |
| Furniture and vehicles | 24 | €739 | €0 | -€739 | -100% |
| Current assets | 29/58 | €69,062 | €44,153 | -€24,909 | -36.1% |
| Amounts receivable within one year | 40/41 | €14,067 | €36,300 | +€22,233 | +158% |
| Trade receivables | 40 | €12,100 | €36,300 | +€24,200 | +200% |
| Other amounts receivable | 41 | €1,967 | €0 | -€1,967 | -100% |
| Cash at bank and in hand | 54/58 | €52,671 | €5,496 | -€47,174 | -89.6% |
| Deferred charges and accrued income | 490/1 | €2,324 | €2,357 | +€32 | +1.4% |
| Total equity and liabilities | 10/49 | €72,981 | €46,121 | -€26,860 | -36.8% |
| Equity | 10/15 | €19,008 | €18,933 | -€75 | -0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €311 | €311 | = | 0.0% |
| Non-distributable reserves | 130/1 | €311 | €311 | = | 0.0% |
| Reserves not available under the articles | 1311 | €311 | €311 | = | 0.0% |
| Profit (loss) carried forward | 14 | €97 | €22 | -€75 | -77.3% |
| Amounts payable | 17/49 | €53,974 | €27,188 | -€26,785 | -49.6% |
| Amounts payable within one year | 42/48 | €53,974 | €27,188 | -€26,785 | -49.6% |
| Trade debts | 44 | €3,733 | €1,379 | -€2,354 | -63.0% |
| Suppliers | 440/4 | €3,733 | €1,379 | -€2,354 | -63.0% |
| Taxes, remuneration and social security | 45 | €7,721 | €8,259 | +€538 | +7.0% |
| Taxes | 450/3 | €7,721 | €8,259 | +€538 | +7.0% |
| Other amounts payable | 47/48 | €42,520 | €17,549 | -€24,970 | -58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,231 | €1,951 | -€280 | -12.6% |
| Other operating charges | 640/8 | €2,393 | €748 | -€1,645 | -68.7% |
| Gross operating margin | 9900 | €59,889 | €73,713 | +€13,824 | +23.1% |
| Operating profit (loss) | 9901 | €55,265 | €71,014 | +€15,749 | +28.5% |
| Financial charges | 65/66B | €3,024 | €2,782 | -€242 | -8.0% |
| Recurring financial charges | 65 | €3,024 | €2,782 | -€242 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €52,241 | €68,232 | +€15,991 | +30.6% |
| Income taxes | 67/77 | €15,033 | €18,506 | +€3,473 | +23.1% |
| Profit (loss) for the period | 9904 | €37,208 | €49,725 | +€12,518 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,208 | €49,725 | +€12,518 | +33.6% |
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 14 October 2026 via checked.be.