Gust Projectontwikkeling: 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.
Gust Projectontwikkeling
Largest movements
- Cash -€63,253
down €63,253 (-44.2%), from €143,027 to €79,774
mainly Other debts (-€97,959) and Receivables within one year (-€46,963)
- Tangible fixed assets -€49,934
down €49,934 (-35.9%), from €139,003 to €89,070
of which Leasing and similar rights: -€34,134
- Receivables within one year +€46,963
up €46,963 (+8.6%), from €546,575 to €593,538
of which Other amounts receivable: +€38,606
- Stocks and contracts -€12,121
down €12,121 (-13.2%), from €92,121 to €80,000
of which Contracts in progress: -€21,906
- Other debts -€97,959
down €97,959 (-84.3%), from €116,226 to €18,267
- Trade debts +€90,059
up €90,059 (+76.2%), from €118,210 to €208,269
- Reserves -€29,313
down €29,313 (-5.3%), from €549,807 to €520,494
of which Distributable reserves: -€29,313
- Short-term financial debts -€25,000
down €25,000 (-25.0%), from €100,000 to €75,000
- Tax, wage and social debts -€14,117
down €14,117 (-61.0%), from €23,156 to €9,039
of which Remuneration and social security: -€13,754
- Gross operating margin -€248,150
down €248,150 (-46.1%), from €538,539 to €290,390
- Staff costs -€103,202
down €103,202 (-28.9%), from €357,258 to €254,057
- Other operating charges -€32,624
down €32,624 (-47.8%), from €68,191 to €35,567
- Write-downs +€25,440
up €25,440, from -€25,440 to €0
- Financial charges -€10,214
down €10,214 (-52.7%), from €19,392 to €9,178
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 | €945,111 | €858,044 | -€87,067 | -9.2% |
| Fixed assets | 21/28 | €141,957 | €91,729 | -€50,228 | -35.4% |
| Tangible fixed assets | 22/27 | €139,003 | €89,070 | -€49,934 | -35.9% |
| Land and buildings | 22 | €76,827 | €62,313 | -€14,514 | -18.9% |
| Plant, machinery and equipment | 23 | €16,058 | €14,278 | -€1,780 | -11.1% |
| Furniture and vehicles | 24 | €866 | €3,012 | +€2,146 | +248% |
| Leasing and similar rights | 25 | €34,134 | €0 | -€34,134 | -100% |
| Other tangible fixed assets | 26 | €11,118 | €9,467 | -€1,651 | -14.8% |
| Financial fixed assets | 28 | €2,954 | €2,659 | -€295 | -10.0% |
| Current assets | 29/58 | €803,155 | €766,316 | -€36,839 | -4.6% |
| Stocks and contracts in progress | 3 | €92,121 | €80,000 | -€12,121 | -13.2% |
| Stocks | 30/36 | €15,215 | €25,000 | +€9,785 | +64.3% |
| Contracts in progress | 37 | €76,906 | €55,000 | -€21,906 | -28.5% |
| Amounts receivable within one year | 40/41 | €546,575 | €593,538 | +€46,963 | +8.6% |
| Trade receivables | 40 | €540,257 | €548,614 | +€8,357 | +1.5% |
| Other amounts receivable | 41 | €6,318 | €44,924 | +€38,606 | +611% |
| Cash at bank and in hand | 54/58 | €143,027 | €79,774 | -€63,253 | -44.2% |
| Deferred charges and accrued income | 490/1 | €21,432 | €13,004 | -€8,429 | -39.3% |
| Total equity and liabilities | 10/49 | €945,111 | €858,044 | -€87,067 | -9.2% |
| Equity | 10/15 | €568,399 | €539,086 | -€29,313 | -5.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €549,807 | €520,494 | -€29,313 | -5.3% |
| Tax-exempt reserves | 132 | €35,655 | €35,655 | = | 0.0% |
| Distributable reserves | 133 | €514,152 | €484,839 | -€29,313 | -5.7% |
| Amounts payable | 17/49 | €376,712 | €318,958 | -€57,754 | -15.3% |
| Amounts payable after more than one year | 17 | €8,384 | €0 | -€8,384 | -100% |
| Financial debts | 170/4 | €8,384 | €0 | -€8,384 | -100% |
| Amounts payable within one year | 42/48 | €368,329 | €318,958 | -€49,371 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €10,738 | €8,384 | -€2,354 | -21.9% |
| Financial debts | 43 | €100,000 | €75,000 | -€25,000 | -25.0% |
| Credit institutions | 430/8 | €100,000 | €75,000 | -€25,000 | -25.0% |
| Trade debts | 44 | €118,210 | €208,269 | +€90,059 | +76.2% |
| Suppliers | 440/4 | €118,210 | €208,269 | +€90,059 | +76.2% |
| Taxes, remuneration and social security | 45 | €23,156 | €9,039 | -€14,117 | -61.0% |
| Taxes | 450/3 | €530 | €167 | -€363 | -68.5% |
| Remuneration and social security | 454/9 | €22,626 | €8,872 | -€13,754 | -60.8% |
| Other amounts payable | 47/48 | €116,226 | €18,267 | -€97,959 | -84.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €357,258 | €254,057 | -€103,202 | -28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,606 | €22,290 | -€7,316 | -24.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€25,440 | €0 | +€25,440 | |
| Other operating charges | 640/8 | €68,191 | €35,567 | -€32,624 | -47.8% |
| Gross operating margin | 9900 | €538,539 | €290,390 | -€248,150 | -46.1% |
| Operating profit (loss) | 9901 | €108,924 | -€21,524 | -€130,448 | |
| Financial income | 75/76B | €10,175 | €1,565 | -€8,610 | -84.6% |
| Recurring financial income | 75 | €10,175 | €1,565 | -€8,610 | -84.6% |
| Financial charges | 65/66B | €19,392 | €9,178 | -€10,214 | -52.7% |
| Recurring financial charges | 65 | €19,392 | €9,178 | -€10,214 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | €99,706 | -€29,137 | -€128,844 | |
| Income taxes | 67/77 | €537 | €176 | -€361 | -67.3% |
| Profit (loss) for the period | 9904 | €99,169 | -€29,313 | -€128,482 | |
| Profit (loss) for the period to be appropriated | 9905 | €99,169 | -€29,313 | -€128,482 |
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 28 October 2026 via checked.be.