Gustav & Minou: what changed
What changed
Gustav & Minou
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€95,660
2024 · €60,408+€35,252
Equity
€406,793
2024 · €311,133+€95,660
Cash
€83,255
2024 · €266+€82,988
Balance sheet total
€4.1m
2024 · €4.2m-€112,708
Largest movements
Assets
- Receivables within one year -€100,790
down €100,790 (-3.7%), from €2.7m to €2.6m
of which Other amounts receivable: -€99,790
- Cash +€82,988
up €82,988 (+31,181%), from €266 to €83,255
mainly Receivables within one year (+€100,790) and Net result for the year (+€95,660)
- Tangible fixed assets -€74,803
down €74,803 (-5.1%), from €1.5m to €1.4m
Equity and liabilities
- Other debts -€101,479
down €101,479 (-3.5%), from €2.9m to €2.8m
- Debts after one year -€96,446
down €96,446 (-11.5%), from €838,443 to €741,997
- Reserves +€95,660
up €95,660 (+32.8%), from €291,276 to €386,936
Income statement
No income-statement line moved by more than 1% of the activity.
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€60,408
Staff costs
+€6,536
Depreciation
+€28,497
Other operating charges
-€2,591
Other operating items
+€12,963
Financial income
-€1,295
Financial charges
+€2,151
Taxes
-€11,010
Result 2025
€95,660
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€196,057
Investment
€0
Financing
-€113,069
Cash 2024
€266
From operations (derived)
+€196,057
Net result for the year
+€95,660
Depreciation
+€74,803
Receivables within one year
+€100,790
Deferred charges and accrued income
+€20,104
Trade debts
-€5,787
Tax, wage and social debts
+€12,159
Other debts
-€101,479
Accrued charges and deferred income
-€193
Financing
-€113,069
Debts after one year
-€96,446
Current portion of long-term debt
-€16,623
Cash 2025
€83,255
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,247,638 | €4,134,929 | -€112,708 | -2.7% |
| Fixed assets | 21/28 | €1,459,857 | €1,385,054 | -€74,803 | -5.1% |
| Tangible fixed assets | 22/27 | €1,459,857 | €1,385,054 | -€74,803 | -5.1% |
| Land and buildings | 22 | €1,459,857 | €1,385,054 | -€74,803 | -5.1% |
| Current assets | 29/58 | €2,787,780 | €2,749,875 | -€37,905 | -1.4% |
| Amounts receivable within one year | 40/41 | €2,701,000 | €2,600,210 | -€100,790 | -3.7% |
| Trade receivables | 40 | €1,000 | - | -€1,000 | |
| Other amounts receivable | 41 | €2,700,000 | €2,600,210 | -€99,790 | -3.7% |
| Cash at bank and in hand | 54/58 | €266 | €83,255 | +€82,988 | +31,181% |
| Deferred charges and accrued income | 490/1 | €86,514 | €66,411 | -€20,104 | -23.2% |
| Total equity and liabilities | 10/49 | €4,247,638 | €4,134,929 | -€112,708 | -2.7% |
| Equity | 10/15 | €311,133 | €406,793 | +€95,660 | +30.7% |
| Contributions | 10/11 | €19,857 | €19,857 | = | 0.0% |
| Reserves | 13 | €291,276 | €386,936 | +€95,660 | +32.8% |
| Distributable reserves | 133 | €291,276 | €386,936 | +€95,660 | +32.8% |
| Amounts payable | 17/49 | €3,936,505 | €3,728,137 | -€208,368 | -5.3% |
| Amounts payable after more than one year | 17 | €838,443 | €741,997 | -€96,446 | -11.5% |
| Financial debts | 170/4 | €838,443 | €741,997 | -€96,446 | -11.5% |
| Credit institutions | 173 | €838,443 | €741,997 | -€96,446 | -11.5% |
| Amounts payable within one year | 42/48 | €3,095,918 | €2,984,188 | -€111,729 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €122,592 | €105,970 | -€16,623 | -13.6% |
| Trade debts | 44 | €12,095 | €6,308 | -€5,787 | -47.8% |
| Suppliers | 440/4 | €12,095 | €6,308 | -€5,787 | -47.8% |
| Taxes, remuneration and social security | 45 | €23,517 | €35,676 | +€12,159 | +51.7% |
| Taxes | 450/3 | €21,990 | €34,989 | +€12,999 | +59.1% |
| Remuneration and social security | 454/9 | €1,527 | €686 | -€841 | -55.1% |
| Other amounts payable | 47/48 | €2,937,713 | €2,836,235 | -€101,479 | -3.5% |
| Accrued charges and deferred income | 492/3 | €2,144 | €1,951 | -€193 | -9.0% |
| Operating income | 70/76A | €238,721 | €248,631 | +€9,910 | +4.2% |
| Other operating income | 74 | €238,721 | €248,631 | +€9,910 | +4.2% |
| Operating charges | 60/66A | €169,647 | €134,151 | -€35,496 | -20.9% |
| Services and other goods | 61 | €17,408 | €14,355 | -€3,054 | -17.5% |
| Remuneration, social security and pensions | 62 | €20,240 | €13,704 | -€6,536 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,300 | €74,803 | -€28,497 | -27.6% |
| Other operating charges | 640/8 | €28,698 | €31,289 | +€2,591 | +9.0% |
| Operating profit (loss) | 9901 | €69,074 | €114,480 | +€45,406 | +65.7% |
| Financial income | 75/76B | €39,960 | €38,665 | -€1,295 | -3.2% |
| Recurring financial income | 75 | €39,960 | €38,665 | -€1,295 | -3.2% |
| Income from current assets | 751 | €39,960 | €38,665 | -€1,295 | -3.2% |
| Financial charges | 65/66B | €26,636 | €24,486 | -€2,151 | -8.1% |
| Recurring financial charges | 65 | €26,636 | €24,486 | -€2,151 | -8.1% |
| Debt charges | 650 | €26,257 | €24,012 | -€2,245 | -8.6% |
| Other financial charges | 652/9 | €379 | €474 | +€94 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €82,398 | €128,659 | +€46,261 | +56.1% |
| Income taxes | 67/77 | €21,990 | €32,999 | +€11,010 | +50.1% |
| Taxes | 670/3 | €21,990 | €32,999 | +€11,010 | +50.1% |
| Profit (loss) for the period | 9904 | €60,408 | €95,660 | +€35,252 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €60,408 | €95,660 | +€35,252 | +58.4% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.