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.
What changed
GUSTAVE
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€29,876
2024 · €25,135+€4,742
Equity
€74,453
2024 · €44,577+€29,876
Cash
€4,747
2024 · €7,851-€3,104
Balance sheet total
€598,044
2024 · €608,149-€10,105
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€42,306
down €42,306 (-32.9%), from €128,575 to €86,269
- Profit (loss) carried forward +€29,876
up €29,876 (+168.2%), from €17,767 to €47,643
Income statement
- Gross operating margin +€3,929
up €3,929 (+7.5%), from €52,185 to €56,114
- Taxes -€855
down €855 (-4.8%), from €17,862 to €17,008
- Depreciation +€648
up €648 (+15.2%), from €4,274 to €4,922
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.
Result 2024
€25,135
Gross operating margin
+€3,929
Depreciation
-€648
Other operating charges
+€48
Financial income
+€0
Financial charges
+€558
Taxes
+€855
Result 2025
€29,876
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.
From operations
+€41,177
Investment
-€1,390
Financing
-€42,890
Cash 2024
€7,851
From operations (derived)
+€41,177
Net result for the year
+€29,876
Depreciation
+€4,922
Receivables within one year
+€3,469
Trade debts
+€2,821
Tax, wage and social debts
+€2,338
Other debts
-€2,249
Investment (derived)
-€1,390
Investment in fixed assets (net)
-€1,390
Financing
-€42,890
Debts after one year
-€42,306
Current portion of long-term debt
-€584
Cash 2025
€4,747
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €608,149 | €598,044 | -€10,105 | -1.7% |
| Fixed assets | 21/28 | €564,159 | €560,627 | -€3,532 | -0.6% |
| Tangible fixed assets | 22/27 | €15,764 | €12,232 | -€3,532 | -22.4% |
| Plant, machinery and equipment | 23 | €3,925 | €4,103 | +€178 | +4.5% |
| Furniture and vehicles | 24 | €4,452 | €1,137 | -€3,316 | -74.5% |
| Other tangible fixed assets | 26 | €7,388 | €6,993 | -€395 | -5.3% |
| Financial fixed assets | 28 | €548,395 | €548,395 | = | 0.0% |
| Current assets | 29/58 | €43,990 | €37,417 | -€6,573 | -14.9% |
| Amounts receivable within one year | 40/41 | €36,139 | €32,670 | -€3,469 | -9.6% |
| Trade receivables | 40 | €36,139 | €32,670 | -€3,469 | -9.6% |
| Cash at bank and in hand | 54/58 | €7,851 | €4,747 | -€3,104 | -39.5% |
| Total equity and liabilities | 10/49 | €608,149 | €598,044 | -€10,105 | -1.7% |
| Equity | 10/15 | €44,577 | €74,453 | +€29,876 | +67.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,767 | €47,643 | +€29,876 | +168.2% |
| Amounts payable | 17/49 | €563,572 | €523,591 | -€39,981 | -7.1% |
| Amounts payable after more than one year | 17 | €128,575 | €86,269 | -€42,306 | -32.9% |
| Financial debts | 170/4 | €128,575 | €86,269 | -€42,306 | -32.9% |
| Amounts payable within one year | 42/48 | €434,997 | €437,322 | +€2,325 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €42,890 | €42,306 | -€584 | -1.4% |
| Trade debts | 44 | - | €2,821 | +€2,821 | |
| Suppliers | 440/4 | - | €2,821 | +€2,821 | |
| Taxes, remuneration and social security | 45 | €17,820 | €20,158 | +€2,338 | +13.1% |
| Taxes | 450/3 | €17,820 | €20,158 | +€2,338 | +13.1% |
| Other amounts payable | 47/48 | €374,286 | €372,037 | -€2,249 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,274 | €4,922 | +€648 | +15.2% |
| Other operating charges | 640/8 | €2,077 | €2,028 | -€48 | -2.3% |
| Gross operating margin | 9900 | €52,185 | €56,114 | +€3,929 | +7.5% |
| Operating profit (loss) | 9901 | €45,834 | €49,164 | +€3,329 | +7.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,837 | €2,280 | -€558 | -19.7% |
| Recurring financial charges | 65 | €2,837 | €2,280 | -€558 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €42,997 | €46,884 | +€3,887 | +9.0% |
| Income taxes | 67/77 | €17,862 | €17,008 | -€855 | -4.8% |
| Profit (loss) for the period | 9904 | €25,135 | €29,876 | +€4,742 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,135 | €29,876 | +€4,742 | +18.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.