Gustaaf Klimt: 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.
Gustaaf Klimt
Largest movements
- Tangible fixed assets -€40,011
down €40,011 (-7.9%), from €507,158 to €467,147
of which Plant, machinery and equipment: -€21,200
- Receivables within one year +€14,031
up €14,031 (+243%), from €5,774 to €19,805
- Cash -€13,502
down €13,502 (-34.3%), from €39,339 to €25,837
mainly Debts after one year (-€49,558) and Investment in fixed assets (net) (-€28,223)
- Stocks and contracts +€11,655
up €11,655 (+52.2%), from €22,309 to €33,964
- Debts after one year -€49,558
down €49,558 (-13.4%), from €368,480 to €318,922
- Reserves +€17,268
new in 2025: €17,268
- Tax, wage and social debts -€14,192
down €14,192 (-32.1%), from €44,230 to €30,038
of which Remuneration and social security: -€10,962
- Profit (loss) carried forward +€13,217
up €13,217, from -€13,217 to €0
- Staff costs -€31,965
down €31,965 (-27.8%), from €114,895 to €82,930
- Gross operating margin -€18,043
down €18,043 (-8.0%), from €226,098 to €208,055
- Financial charges -€3,978
down €3,978 (-20.8%), from €19,108 to €15,131
- Other operating charges -€2,598
down €2,598 (-16.3%), from €15,964 to €13,366
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 | €587,561 | €558,835 | -€28,726 | -4.9% |
| Formation expenses | 20 | €0 | €1,333 | +€1,333 | |
| Fixed assets | 21/28 | €511,454 | €472,156 | -€39,297 | -7.7% |
| Intangible fixed assets | 21 | €3,246 | €3,959 | +€713 | +22.0% |
| Tangible fixed assets | 22/27 | €507,158 | €467,147 | -€40,011 | -7.9% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €308,856 | €287,656 | -€21,200 | -6.9% |
| Furniture and vehicles | 24 | €15,235 | €10,300 | -€4,935 | -32.4% |
| Other tangible fixed assets | 26 | €183,067 | €169,191 | -€13,875 | -7.6% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €76,107 | €85,346 | +€9,238 | +12.1% |
| Stocks and contracts in progress | 3 | €22,309 | €33,964 | +€11,655 | +52.2% |
| Stocks | 30/36 | €22,309 | €33,964 | +€11,655 | +52.2% |
| Amounts receivable within one year | 40/41 | €5,774 | €19,805 | +€14,031 | +243% |
| Trade receivables | 40 | €5,774 | €19,805 | +€14,031 | +243% |
| Cash at bank and in hand | 54/58 | €39,339 | €25,837 | -€13,502 | -34.3% |
| Deferred charges and accrued income | 490/1 | €8,685 | €5,740 | -€2,945 | -33.9% |
| Total equity and liabilities | 10/49 | €587,561 | €558,835 | -€28,726 | -4.9% |
| Equity | 10/15 | €11,783 | €42,268 | +€30,485 | +259% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | - | €17,268 | +€17,268 | |
| Distributable reserves | 133 | - | €17,268 | +€17,268 | |
| Profit (loss) carried forward | 14 | -€13,217 | €0 | +€13,217 | |
| Amounts payable | 17/49 | €575,777 | €516,567 | -€59,211 | -10.3% |
| Amounts payable after more than one year | 17 | €368,480 | €318,922 | -€49,558 | -13.4% |
| Financial debts | 170/4 | €368,480 | €318,922 | -€49,558 | -13.4% |
| Amounts payable within one year | 42/48 | €205,332 | €195,660 | -€9,672 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €48,430 | €49,558 | +€1,129 | +2.3% |
| Trade debts | 44 | €92,968 | €95,413 | +€2,446 | +2.6% |
| Suppliers | 440/4 | €92,968 | €95,413 | +€2,446 | +2.6% |
| Taxes, remuneration and social security | 45 | €44,230 | €30,038 | -€14,192 | -32.1% |
| Taxes | 450/3 | €12,225 | €8,995 | -€3,230 | -26.4% |
| Remuneration and social security | 454/9 | €32,004 | €21,043 | -€10,962 | -34.3% |
| Other amounts payable | 47/48 | €19,705 | €20,650 | +€945 | +4.8% |
| Accrued charges and deferred income | 492/3 | €1,965 | €1,985 | +€20 | +1.0% |
| Non-recurring operating income | 76A | €15,599 | €0 | -€15,599 | -100% |
| Remuneration, social security and pensions | 62 | €114,895 | €82,930 | -€31,965 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,102 | €66,187 | +€1,085 | +1.7% |
| Other operating charges | 640/8 | €15,964 | €13,366 | -€2,598 | -16.3% |
| Gross operating margin | 9900 | €226,098 | €208,055 | -€18,043 | -8.0% |
| Operating profit (loss) | 9901 | €30,137 | €45,572 | +€15,435 | +51.2% |
| Financial income | 75/76B | €0 | €43 | +€43 | |
| Recurring financial income | 75 | €0 | €43 | +€43 | |
| Financial charges | 65/66B | €19,108 | €15,131 | -€3,978 | -20.8% |
| Recurring financial charges | 65 | €19,108 | €15,131 | -€3,978 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €11,028 | €30,485 | +€19,456 | +176% |
| Profit (loss) for the period | 9904 | €11,028 | €30,485 | +€19,456 | +176% |
| Profit (loss) for the period to be appropriated | 9905 | €11,028 | €30,485 | +€19,456 | +176% |
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 31 October 2026 via checked.be.