Gustart: 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.
Gustart
Largest movements
- Cash +€541,087
up €541,087 (+147.3%), from €367,429 to €908,516
mainly Net result for the year (+€463,594) and Tax, wage and social debts (+€198,073)
- Stocks and contracts +€97,000
up €97,000 (+183.0%), from €53,000 to €150,000
- Receivables within one year +€52,739
up €52,739 (+118.9%), from €44,355 to €97,093
of which Trade receivables: +€52,446
- Reserves +€463,594
up €463,594 (+135.9%), from €341,188 to €804,782
- Tax, wage and social debts +€198,073
up €198,073 (+154.3%), from €128,344 to €326,418
of which Taxes: +€180,762
- Trade debts +€26,512
up €26,512 (+63.2%), from €41,944 to €68,456
- Gross operating margin +€190,266
up €190,266 (+24.7%), from €770,962 to €961,228
- Taxes +€37,976
up €37,976 (+32.9%), from €115,345 to €153,321
- Staff costs +€32,285
up €32,285 (+10.6%), from €304,779 to €337,065
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 | €522,557 | €1,209,191 | +€686,633 | +131.4% |
| Fixed assets | 21/28 | €56,300 | €53,582 | -€2,718 | -4.8% |
| Intangible fixed assets | 21 | €29,957 | €25,957 | -€4,000 | -13.4% |
| Tangible fixed assets | 22/27 | €16,293 | €17,575 | +€1,282 | +7.9% |
| Plant, machinery and equipment | 23 | €6,805 | €10,461 | +€3,656 | +53.7% |
| Furniture and vehicles | 24 | €9,488 | €7,114 | -€2,374 | -25.0% |
| Financial fixed assets | 28 | €10,050 | €10,050 | = | 0.0% |
| Current assets | 29/58 | €466,257 | €1,155,609 | +€689,352 | +147.8% |
| Stocks and contracts in progress | 3 | €53,000 | €150,000 | +€97,000 | +183.0% |
| Stocks | 30/36 | €53,000 | €150,000 | +€97,000 | +183.0% |
| Amounts receivable within one year | 40/41 | €44,355 | €97,093 | +€52,739 | +118.9% |
| Trade receivables | 40 | €42,050 | €94,496 | +€52,446 | +124.7% |
| Other amounts receivable | 41 | €2,304 | €2,597 | +€293 | +12.7% |
| Cash at bank and in hand | 54/58 | €367,429 | €908,516 | +€541,087 | +147.3% |
| Deferred charges and accrued income | 490/1 | €1,474 | - | -€1,474 | |
| Total equity and liabilities | 10/49 | €522,557 | €1,209,191 | +€686,633 | +131.4% |
| Equity | 10/15 | €342,188 | €805,782 | +€463,594 | +135.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €341,188 | €804,782 | +€463,594 | +135.9% |
| Distributable reserves | 133 | €341,188 | €804,782 | +€463,594 | +135.9% |
| Amounts payable | 17/49 | €180,369 | €403,409 | +€223,039 | +123.7% |
| Amounts payable within one year | 42/48 | €180,369 | €403,409 | +€223,039 | +123.7% |
| Trade debts | 44 | €41,944 | €68,456 | +€26,512 | +63.2% |
| Suppliers | 440/4 | €41,944 | €68,456 | +€26,512 | +63.2% |
| Taxes, remuneration and social security | 45 | €128,344 | €326,418 | +€198,073 | +154.3% |
| Taxes | 450/3 | €118,735 | €299,497 | +€180,762 | +152.2% |
| Remuneration and social security | 454/9 | €9,609 | €26,921 | +€17,312 | +180.2% |
| Other amounts payable | 47/48 | €10,081 | €8,535 | -€1,546 | -15.3% |
| Remuneration, social security and pensions | 62 | €304,779 | €337,065 | +€32,285 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,323 | €8,644 | -€679 | -7.3% |
| Other operating charges | 640/8 | €100 | €541 | +€441 | +440.5% |
| Gross operating margin | 9900 | €770,962 | €961,228 | +€190,266 | +24.7% |
| Operating profit (loss) | 9901 | €456,760 | €614,979 | +€158,219 | +34.6% |
| Financial income | 75/76B | €1,879 | €2,045 | +€167 | +8.9% |
| Recurring financial income | 75 | €1,879 | €2,045 | +€167 | +8.9% |
| Financial charges | 65/66B | €2,106 | €110 | -€1,996 | -94.8% |
| Recurring financial charges | 65 | €2,106 | €110 | -€1,996 | -94.8% |
| Profit (loss) for the period before taxes | 9903 | €456,533 | €616,915 | +€160,382 | +35.1% |
| Income taxes | 67/77 | €115,345 | €153,321 | +€37,976 | +32.9% |
| Profit (loss) for the period | 9904 | €341,188 | €463,594 | +€122,406 | +35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €341,188 | €463,594 | +€122,406 | +35.9% |
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 5 October 2026 via checked.be.