GUSTAVE: 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.
GUSTAVE
Largest movements
- Current investments +€235,000
up €235,000 (+53.4%), from €440,000 to €675,000
- Cash -€233,614
down €233,614 (-77.9%), from €300,072 to €66,458
mainly Contributions, distributions and other (-€645,000) and Current investments (-€235,000)
- Reserves -€643,960
down €643,960 (-99.6%), from €646,671 to €2,711
- Other debts +€552,055
up €552,055 (+702.0%), from €78,642 to €630,697
- Tax, wage and social debts +€96,619
up €96,619 (+5486.6%), from €1,761 to €98,380
- Financial income +€5,988
up €5,988 (+97.1%), from €6,165 to €12,153
- Financial charges -€433
down €433 (-7.3%), from €5,914 to €5,481
- Depreciation +€304
up €304 (+142.7%), from €213 to €517
- Gross operating margin -€236
down €236 (-5.4%), from -€4,359 to -€4,595
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 | €747,131 | €751,940 | +€4,809 | +0.6% |
| Fixed assets | 21/28 | €357 | €955 | +€598 | +167.5% |
| Tangible fixed assets | 22/27 | €357 | €955 | +€598 | +167.5% |
| Plant, machinery and equipment | 23 | €357 | €955 | +€598 | +167.5% |
| Current assets | 29/58 | €746,774 | €750,985 | +€4,211 | +0.6% |
| Amounts receivable within one year | 40/41 | €6,702 | €9,527 | +€2,825 | +42.2% |
| Other amounts receivable | 41 | €6,702 | €9,527 | +€2,825 | +42.2% |
| Current investments | 50/53 | €440,000 | €675,000 | +€235,000 | +53.4% |
| Cash at bank and in hand | 54/58 | €300,072 | €66,458 | -€233,614 | -77.9% |
| Total equity and liabilities | 10/49 | €747,131 | €751,940 | +€4,809 | +0.6% |
| Equity | 10/15 | €666,671 | €22,711 | -€643,960 | -96.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €646,671 | €2,711 | -€643,960 | -99.6% |
| Distributable reserves | 133 | €646,671 | €2,711 | -€643,960 | -99.6% |
| Amounts payable | 17/49 | €80,460 | €729,229 | +€648,769 | +806.3% |
| Amounts payable within one year | 42/48 | €80,460 | €729,229 | +€648,769 | +806.3% |
| Trade debts | 44 | €57 | €152 | +€95 | +166.7% |
| Suppliers | 440/4 | €57 | €152 | +€95 | +166.7% |
| Taxes, remuneration and social security | 45 | €1,761 | €98,380 | +€96,619 | +5486.6% |
| Taxes | 450/3 | €1,761 | €98,380 | +€96,619 | +5486.6% |
| Other amounts payable | 47/48 | €78,642 | €630,697 | +€552,055 | +702.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213 | €517 | +€304 | +142.7% |
| Other operating charges | 640/8 | €505 | €520 | +€15 | +3.0% |
| Gross operating margin | 9900 | -€4,359 | -€4,595 | -€236 | -5.4% |
| Operating profit (loss) | 9901 | -€5,077 | -€5,632 | -€555 | -10.9% |
| Financial income | 75/76B | €6,165 | €12,153 | +€5,988 | +97.1% |
| Recurring financial income | 75 | €6,165 | €12,153 | +€5,988 | +97.1% |
| Financial charges | 65/66B | €5,914 | €5,481 | -€433 | -7.3% |
| Recurring financial charges | 65 | €5,914 | €5,481 | -€433 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,826 | €1,040 | +€5,866 | |
| Profit (loss) for the period | 9904 | -€4,826 | €1,040 | +€5,866 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,826 | €1,040 | +€5,866 |
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 2 October 2026 via checked.be.