GUSTI: what changed
Two financial 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.
GUSTI
Largest movements
- Tangible fixed assets -€27,569
down €27,569 (-11.1%), from €247,347 to €219,779
of which Plant, machinery and equipment: -€15,244
- Receivables within one year +€17,724
up €17,724 (+113.4%), from €15,626 to €33,350
of which Trade receivables: +€19,371
- Cash -€5,527
down €5,527 (-31.5%), from €17,567 to €12,040
mainly Net result for the year (-€33,576) and Receivables within one year (-€17,724)
- Profit (loss) carried forward -€33,576
down €33,576 (-51.7%), from -€64,963 to -€98,538
- Trade debts +€26,186
up €26,186 (+27.6%), from €94,774 to €120,961
- Other debts -€12,863
down €12,863 (-80.9%), from €15,894 to €3,032
- Current portion of long-term debt +€3,781
up €3,781 (+11.4%), from €33,295 to €37,076
- Gross operating margin -€10,502
down €10,502 (-11.8%), from €88,964 to €78,462
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 | €291,562 | €274,782 | -€16,780 | -5.8% |
| Formation expenses | 20 | €654 | €110 | -€545 | -83.2% |
| Fixed assets | 21/28 | €247,402 | €219,834 | -€27,569 | -11.1% |
| Tangible fixed assets | 22/27 | €247,347 | €219,779 | -€27,569 | -11.1% |
| Land and buildings | 22 | €104,901 | €101,898 | -€3,003 | -2.9% |
| Plant, machinery and equipment | 23 | €127,368 | €112,124 | -€15,244 | -12.0% |
| Furniture and vehicles | 24 | €308 | €186 | -€122 | -39.7% |
| Leasing and similar rights | 25 | €14,770 | €5,570 | -€9,200 | -62.3% |
| Financial fixed assets | 28 | €55 | €55 | = | 0.0% |
| Current assets | 29/58 | €43,505 | €54,838 | +€11,333 | +26.0% |
| Stocks and contracts in progress | 3 | €9,085 | €9,448 | +€363 | +4.0% |
| Stocks | 30/36 | €9,085 | €9,448 | +€363 | +4.0% |
| Amounts receivable within one year | 40/41 | €15,626 | €33,350 | +€17,724 | +113.4% |
| Trade receivables | 40 | €13,975 | €33,346 | +€19,371 | +138.6% |
| Other amounts receivable | 41 | €1,651 | €4 | -€1,647 | -99.8% |
| Cash at bank and in hand | 54/58 | €17,567 | €12,040 | -€5,527 | -31.5% |
| Deferred charges and accrued income | 490/1 | €1,227 | - | -€1,227 | |
| Total equity and liabilities | 10/49 | €291,562 | €274,782 | -€16,780 | -5.8% |
| Equity | 10/15 | -€49,963 | -€83,538 | -€33,576 | -67.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,963 | -€98,538 | -€33,576 | -51.7% |
| Amounts payable | 17/49 | €341,524 | €358,320 | +€16,796 | +4.9% |
| Amounts payable after more than one year | 17 | €185,859 | €186,652 | +€793 | +0.4% |
| Financial debts | 170/4 | €185,859 | €186,652 | +€793 | +0.4% |
| Amounts payable within one year | 42/48 | €155,665 | €171,668 | +€16,003 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €33,295 | €37,076 | +€3,781 | +11.4% |
| Trade debts | 44 | €94,774 | €120,961 | +€26,186 | +27.6% |
| Suppliers | 440/4 | €94,774 | €120,961 | +€26,186 | +27.6% |
| Taxes, remuneration and social security | 45 | €11,702 | €10,600 | -€1,102 | -9.4% |
| Taxes | 450/3 | €9 | €1,041 | +€1,032 | +11637.9% |
| Remuneration and social security | 454/9 | €11,693 | €9,559 | -€2,134 | -18.2% |
| Other amounts payable | 47/48 | €15,894 | €3,032 | -€12,863 | -80.9% |
| Non-recurring operating income | 76A | - | €0 | +€0 | |
| Remuneration, social security and pensions | 62 | €66,956 | €67,011 | +€55 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,701 | €34,940 | +€240 | +0.7% |
| Other operating charges | 640/8 | €3,028 | €3,124 | +€97 | +3.2% |
| Non-recurring operating charges | 66A | €27 | €221 | +€194 | +717.3% |
| Gross operating margin | 9900 | €88,964 | €78,462 | -€10,502 | -11.8% |
| Operating profit (loss) | 9901 | -€15,747 | -€26,834 | -€11,087 | -70.4% |
| Financial income | 75/76B | €10 | €0 | -€10 | -99.9% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -99.9% |
| Financial charges | 65/66B | €6,801 | €6,742 | -€59 | -0.9% |
| Recurring financial charges | 65 | €6,801 | €6,742 | -€59 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | -€22,538 | -€33,576 | -€11,038 | -49.0% |
| Profit (loss) for the period | 9904 | -€22,538 | -€33,576 | -€11,038 | -49.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,538 | -€33,576 | -€11,038 | -49.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.