GUST: what changed
Two fiscal 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.
GUST
Largest movements
- Cash -€13,785
down €13,785 (-14.6%), from €94,636 to €80,851
mainly Contributions, distributions and other (-€87,861) and Tax, wage and social debts (-€9,530)
- Tangible fixed assets +€2,974
up €2,974 (+53.9%), from €5,521 to €8,495
- Contributions -€18,600
down €18,600 (-100.0%), from €18,600 to €0
- Other debts +€17,531
up €17,531 (+33.9%), from €51,730 to €69,261
- Tax, wage and social debts -€9,530
down €9,530 (-68.1%), from €13,993 to €4,464
of which Taxes: -€6,400
- Gross operating margin +€25,860
up €25,860 (+38.6%), from €66,940 to €92,800
- Taxes +€4,966
up €4,966 (+37.1%), from €13,376 to €18,343
- Depreciation -€1,044
down €1,044 (-25.4%), from €4,105 to €3,062
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.
Cash bridge derived
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 | €105,296 | €94,380 | -€10,916 | -10.4% |
| Fixed assets | 21/28 | €5,821 | €8,795 | +€2,974 | +51.1% |
| Tangible fixed assets | 22/27 | €5,521 | €8,495 | +€2,974 | +53.9% |
| Furniture and vehicles | 24 | €5,521 | €8,495 | +€2,974 | +53.9% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €99,475 | €85,585 | -€13,890 | -14.0% |
| Amounts receivable within one year | 40/41 | €4,770 | €4,734 | -€36 | -0.7% |
| Trade receivables | 40 | €4,770 | €0 | -€4,770 | -100.0% |
| Other amounts receivable | 41 | €0 | €4,734 | +€4,734 | |
| Cash at bank and in hand | 54/58 | €94,636 | €80,851 | -€13,785 | -14.6% |
| Deferred charges and accrued income | 490/1 | €69 | €0 | -€69 | -100.0% |
| Total equity and liabilities | 10/49 | €105,296 | €94,380 | -€10,916 | -10.4% |
| Equity | 10/15 | €39,100 | €20,500 | -€18,600 | -47.6% |
| Contributions | 10/11 | €18,600 | €0 | -€18,600 | -100.0% |
| Reserves | 13 | €20,500 | €20,500 | = | 0.0% |
| Distributable reserves | 133 | €20,500 | €20,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €66,196 | €73,880 | +€7,684 | +11.6% |
| Amounts payable within one year | 42/48 | €66,196 | €73,880 | +€7,684 | +11.6% |
| Trade debts | 44 | €473 | €156 | -€317 | -67.1% |
| Suppliers | 440/4 | €473 | €156 | -€317 | -67.1% |
| Taxes, remuneration and social security | 45 | €13,993 | €4,464 | -€9,530 | -68.1% |
| Taxes | 450/3 | €10,863 | €4,464 | -€6,400 | -58.9% |
| Remuneration and social security | 454/9 | €3,130 | €0 | -€3,130 | -100.0% |
| Other amounts payable | 47/48 | €51,730 | €69,261 | +€17,531 | +33.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,250 | €0 | -€1,250 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,105 | €3,062 | -€1,044 | -25.4% |
| Other operating charges | 640/8 | €1,137 | €1,242 | +€105 | +9.2% |
| Non-recurring operating charges | 66A | - | €766 | +€766 | |
| Gross operating margin | 9900 | €66,940 | €92,800 | +€25,860 | +38.6% |
| Operating profit (loss) | 9901 | €61,698 | €87,730 | +€26,032 | +42.2% |
| Financial income | 75/76B | €69 | €0 | -€69 | -100.0% |
| Recurring financial income | 75 | €69 | €0 | -€69 | -100.0% |
| Financial charges | 65/66B | €126 | €126 | +€1 | +0.5% |
| Recurring financial charges | 65 | €126 | €126 | +€1 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €61,641 | €87,604 | +€25,963 | +42.1% |
| Income taxes | 67/77 | €13,376 | €18,343 | +€4,966 | +37.1% |
| Profit (loss) for the period | 9904 | €48,264 | €69,261 | +€20,996 | +43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,264 | €69,261 | +€20,996 | +43.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.