GUSTA: 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.
GUSTA
Largest movements
- Receivables after one year -€37,379
down €37,379 (-64.6%), from €57,879 to €20,500
- Cash -€21,740
down €21,740 (-42.3%), from €51,357 to €29,617
mainly Investment in fixed assets (net) (-€67,984) and Other debts (-€53,129)
- Other debts -€53,129
down €53,129 (-76.6%), from €69,379 to €16,250
- Debts after one year -€22,503
down €22,503 (-5.0%), from €454,301 to €431,798
of which Financial debts: -€43,764
- Current portion of long-term debt +€19,817
up €19,817 (+38.1%), from €52,055 to €71,872
- Trade debts +€13,479
up €13,479 (+56.2%), from €23,989 to €37,468
- Other operating charges +€24,816
up €24,816 (+178.6%), from €13,896 to €38,712
- Depreciation +€5,502
up €5,502 (+8.2%), from €67,156 to €72,657
- Taxes -€2,948
down €2,948 (-99.3%), from €2,970 to €22
- Gross operating margin +€1,370
up €1,370 (+1.2%), from €112,486 to €113,856
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 | €865,893 | €809,087 | -€56,806 | -6.6% |
| Fixed assets | 21/28 | €736,356 | €731,682 | -€4,674 | -0.6% |
| Tangible fixed assets | 22/27 | €736,356 | €731,432 | -€4,924 | -0.7% |
| Land and buildings | 22 | €463,872 | €441,496 | -€22,376 | -4.8% |
| Plant, machinery and equipment | 23 | €272,484 | €274,853 | +€2,369 | +0.9% |
| Furniture and vehicles | 24 | - | €15,083 | +€15,083 | |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €129,537 | €77,405 | -€52,132 | -40.2% |
| Amounts receivable after more than one year | 29 | €57,879 | €20,500 | -€37,379 | -64.6% |
| Other amounts receivable | 291 | €57,879 | €20,500 | -€37,379 | -64.6% |
| Amounts receivable within one year | 40/41 | €17,804 | €22,277 | +€4,473 | +25.1% |
| Trade receivables | 40 | €17,774 | €16,258 | -€1,517 | -8.5% |
| Other amounts receivable | 41 | €30 | €6,020 | +€5,990 | +20223.2% |
| Cash at bank and in hand | 54/58 | €51,357 | €29,617 | -€21,740 | -42.3% |
| Deferred charges and accrued income | 490/1 | €2,497 | €5,010 | +€2,513 | +100.6% |
| Total equity and liabilities | 10/49 | €865,893 | €809,087 | -€56,806 | -6.6% |
| Equity | 10/15 | €254,198 | €246,111 | -€8,088 | -3.2% |
| Contributions | 10/11 | €147,858 | €147,858 | = | 0.0% |
| Capital | 10 | €147,858 | €147,858 | = | 0.0% |
| Issued capital | 100 | €147,858 | €147,858 | = | 0.0% |
| Reserves | 13 | €106,341 | €99,597 | -€6,743 | -6.3% |
| Non-distributable reserves | 130/1 | €11,398 | €11,398 | = | 0.0% |
| Legal reserve | 130 | €11,398 | €11,398 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,780 | €13,037 | -€6,743 | -34.1% |
| Distributable reserves | 133 | €75,163 | €75,163 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€1,345 | -€1,345 | |
| Provisions and deferred taxes | 16 | €5,942 | €3,916 | -€2,026 | -34.1% |
| Deferred taxes | 168 | €5,942 | €3,916 | -€2,026 | -34.1% |
| Amounts payable | 17/49 | €605,753 | €559,060 | -€46,693 | -7.7% |
| Amounts payable after more than one year | 17 | €454,301 | €431,798 | -€22,503 | -5.0% |
| Financial debts | 170/4 | €363,478 | €319,714 | -€43,764 | -12.0% |
| Other amounts payable | 178/9 | €90,823 | €112,084 | +€21,261 | +23.4% |
| Amounts payable within one year | 42/48 | €146,135 | €125,693 | -€20,442 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €52,055 | €71,872 | +€19,817 | +38.1% |
| Trade debts | 44 | €23,989 | €37,468 | +€13,479 | +56.2% |
| Suppliers | 440/4 | €23,989 | €37,468 | +€13,479 | +56.2% |
| Taxes, remuneration and social security | 45 | €712 | €103 | -€610 | -85.6% |
| Taxes | 450/3 | €712 | €103 | -€610 | -85.6% |
| Other amounts payable | 47/48 | €69,379 | €16,250 | -€53,129 | -76.6% |
| Accrued charges and deferred income | 492/3 | €5,317 | €1,569 | -€3,748 | -70.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,156 | €72,657 | +€5,502 | +8.2% |
| Other operating charges | 640/8 | €13,896 | €38,712 | +€24,816 | +178.6% |
| Gross operating margin | 9900 | €112,486 | €113,856 | +€1,370 | +1.2% |
| Operating profit (loss) | 9901 | €31,434 | €2,487 | -€28,947 | -92.1% |
| Financial income | 75/76B | €0 | €28 | +€28 | +17525.0% |
| Recurring financial income | 75 | €0 | €28 | +€28 | +17525.0% |
| Financial charges | 65/66B | €13,448 | €12,606 | -€842 | -6.3% |
| Recurring financial charges | 65 | €13,448 | €12,606 | -€842 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €17,986 | -€10,091 | -€28,078 | |
| Transfer from deferred taxes | 780 | €2,026 | €2,026 | +€0 | 0.0% |
| Income taxes | 67/77 | €2,970 | €22 | -€2,948 | -99.3% |
| Profit (loss) for the period | 9904 | €17,041 | -€8,088 | -€25,129 | |
| Transfer from tax-exempt reserves | 789 | €6,743 | €6,743 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,784 | -€1,345 | -€25,129 |
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 30 September 2026 via checked.be.