GUSTAN: 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.
GUSTAN
Largest movements
- Current investments +€50,019
new in 2025: €50,019
- Tangible fixed assets -€46,655
down €46,655 (-6.1%), from €761,989 to €715,334
of which Land and buildings: -€26,325
- Reserves +€73,775
up €73,775 (+16.9%), from €437,707 to €511,482
- Current portion of long-term debt -€60,714
down €60,714 (-75.3%), from €80,647 to €19,933
- Debts after one year -€19,933
down €19,933 (-17.0%), from €117,420 to €97,487
- Other debts +€11,292
up €11,292 (+8.2%), from €137,383 to €148,674
- Gross operating margin +€20,730
up €20,730 (+13.0%), from €159,694 to €180,424
- Taxes +€7,830
up €7,830 (+24.3%), from €32,290 to €40,120
- Financial income -€2,093
down €2,093 (-89.4%), from €2,341 to €248
- Other operating charges -€2,020
down €2,020 (-30.0%), from €6,742 to €4,722
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 | €795,587 | €802,533 | +€6,946 | +0.9% |
| Fixed assets | 21/28 | €763,559 | €716,905 | -€46,655 | -6.1% |
| Tangible fixed assets | 22/27 | €761,989 | €715,334 | -€46,655 | -6.1% |
| Land and buildings | 22 | €657,706 | €631,381 | -€26,325 | -4.0% |
| Plant, machinery and equipment | 23 | €24,227 | €23,586 | -€641 | -2.6% |
| Furniture and vehicles | 24 | €80,055 | €60,367 | -€19,688 | -24.6% |
| Financial fixed assets | 28 | €1,571 | €1,571 | = | 0.0% |
| Current assets | 29/58 | €32,028 | €85,628 | +€53,600 | +167.4% |
| Amounts receivable within one year | 40/41 | €6,353 | €3,492 | -€2,861 | -45.0% |
| Trade receivables | 40 | €2,940 | €79 | -€2,861 | -97.3% |
| Other amounts receivable | 41 | €3,413 | €3,413 | = | 0.0% |
| Current investments | 50/53 | - | €50,019 | +€50,019 | |
| Cash at bank and in hand | 54/58 | €22,902 | €28,697 | +€5,795 | +25.3% |
| Deferred charges and accrued income | 490/1 | €2,773 | €3,420 | +€647 | +23.3% |
| Total equity and liabilities | 10/49 | €795,587 | €802,533 | +€6,946 | +0.9% |
| Equity | 10/15 | €450,107 | €523,882 | +€73,775 | +16.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €437,707 | €511,482 | +€73,775 | +16.9% |
| Distributable reserves | 133 | €437,707 | €511,482 | +€73,775 | +16.9% |
| Amounts payable | 17/49 | €345,480 | €278,650 | -€66,829 | -19.3% |
| Amounts payable after more than one year | 17 | €117,420 | €97,487 | -€19,933 | -17.0% |
| Financial debts | 170/4 | €117,420 | €97,487 | -€19,933 | -17.0% |
| Amounts payable within one year | 42/48 | €226,374 | €180,371 | -€46,003 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €80,647 | €19,933 | -€60,714 | -75.3% |
| Trade debts | 44 | €5,194 | €2,254 | -€2,941 | -56.6% |
| Suppliers | 440/4 | €5,194 | €2,254 | -€2,941 | -56.6% |
| Taxes, remuneration and social security | 45 | €3,150 | €9,510 | +€6,360 | +201.9% |
| Taxes | 450/3 | €3,150 | €9,510 | +€6,360 | +201.9% |
| Other amounts payable | 47/48 | €137,383 | €148,674 | +€11,292 | +8.2% |
| Accrued charges and deferred income | 492/3 | €1,685 | €792 | -€893 | -53.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,061 | €49,554 | -€1,508 | -3.0% |
| Other operating charges | 640/8 | €6,742 | €4,722 | -€2,020 | -30.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €159,694 | €180,424 | +€20,730 | +13.0% |
| Operating profit (loss) | 9901 | €101,891 | €126,148 | +€24,258 | +23.8% |
| Financial income | 75/76B | €2,341 | €248 | -€2,093 | -89.4% |
| Recurring financial income | 75 | €2,341 | €248 | -€2,093 | -89.4% |
| Financial charges | 65/66B | €13,816 | €12,501 | -€1,315 | -9.5% |
| Recurring financial charges | 65 | €13,816 | €12,501 | -€1,315 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €90,416 | €113,895 | +€23,479 | +26.0% |
| Income taxes | 67/77 | €32,290 | €40,120 | +€7,830 | +24.3% |
| Profit (loss) for the period | 9904 | €58,126 | €73,775 | +€15,649 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,126 | €73,775 | +€15,649 | +26.9% |
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 6 October 2026 via checked.be.