GUSTUS: 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.
GUSTUS
Largest movements
- Cash +€120,707
up €120,707 (+157.0%), from €76,874 to €197,581
mainly Depreciation (+€128,184) and Trade debts (+€90,933)
- Receivables within one year +€53,794
up €53,794 (+16.6%), from €324,552 to €378,345
of which Other amounts receivable: +€41,243
- Trade debts +€90,933
up €90,933 (+38.8%), from €234,478 to €325,411
- Profit (loss) carried forward +€55,343
up €55,343 (+92.4%), from €59,913 to €115,256
- Advances received -€29,540
down €29,540 (-61.1%), from €48,315 to €18,775
- Accrued charges and deferred income +€26,110
up €26,110 (+9.2%), from €282,722 to €308,832
- Tax, wage and social debts +€22,397
up €22,397 (+29.8%), from €75,063 to €97,460
of which Taxes: +€16,580
- Gross operating margin +€180,102
up €180,102 (+23.2%), from €776,757 to €956,859
- Staff costs +€176,209
up €176,209 (+30.3%), from €581,435 to €757,644
- Depreciation +€32,807
up €32,807 (+34.4%), from €95,377 to €128,184
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 | €1,143,536 | €1,312,122 | +€168,586 | +14.7% |
| Fixed assets | 21/28 | €624,783 | €625,523 | +€740 | +0.1% |
| Tangible fixed assets | 22/27 | €624,783 | €625,523 | +€740 | +0.1% |
| Plant, machinery and equipment | 23 | €148,265 | €177,812 | +€29,547 | +19.9% |
| Furniture and vehicles | 24 | €52,893 | €50,549 | -€2,345 | -4.4% |
| Leasing and similar rights | 25 | - | €1,807 | +€1,807 | |
| Other tangible fixed assets | 26 | €423,624 | €395,356 | -€28,269 | -6.7% |
| Current assets | 29/58 | €518,753 | €686,599 | +€167,846 | +32.4% |
| Stocks and contracts in progress | 3 | €46,477 | €37,452 | -€9,026 | -19.4% |
| Stocks | 30/36 | €46,477 | €37,452 | -€9,026 | -19.4% |
| Amounts receivable within one year | 40/41 | €324,552 | €378,345 | +€53,794 | +16.6% |
| Trade receivables | 40 | €305,760 | €318,312 | +€12,551 | +4.1% |
| Other amounts receivable | 41 | €18,791 | €60,034 | +€41,243 | +219.5% |
| Cash at bank and in hand | 54/58 | €76,874 | €197,581 | +€120,707 | +157.0% |
| Deferred charges and accrued income | 490/1 | €70,850 | €73,222 | +€2,372 | +3.3% |
| Total equity and liabilities | 10/49 | €1,143,536 | €1,312,122 | +€168,586 | +14.7% |
| Equity | 10/15 | €372,836 | €431,092 | +€58,256 | +15.6% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €62,923 | €65,836 | +€2,913 | +4.6% |
| Non-distributable reserves | 130/1 | €14,071 | €16,984 | +€2,913 | +20.7% |
| Legal reserve | 130 | €14,071 | €16,984 | +€2,913 | +20.7% |
| Distributable reserves | 133 | €48,852 | €48,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,913 | €115,256 | +€55,343 | +92.4% |
| Amounts payable | 17/49 | €770,700 | €881,031 | +€110,331 | +14.3% |
| Amounts payable after more than one year | 17 | €117,213 | €100,000 | -€17,213 | -14.7% |
| Financial debts | 170/4 | €117,213 | €100,000 | -€17,213 | -14.7% |
| Amounts payable within one year | 42/48 | €370,766 | €472,199 | +€101,433 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €12,910 | €17,213 | +€4,303 | +33.3% |
| Trade debts | 44 | €234,478 | €325,411 | +€90,933 | +38.8% |
| Suppliers | 440/4 | €234,478 | €325,411 | +€90,933 | +38.8% |
| Advances received on contracts in progress | 46 | €48,315 | €18,775 | -€29,540 | -61.1% |
| Taxes, remuneration and social security | 45 | €75,063 | €97,460 | +€22,397 | +29.8% |
| Taxes | 450/3 | €7,843 | €24,424 | +€16,580 | +211.4% |
| Remuneration and social security | 454/9 | €67,219 | €73,036 | +€5,817 | +8.7% |
| Other amounts payable | 47/48 | €0 | €13,340 | +€13,340 | |
| Accrued charges and deferred income | 492/3 | €282,722 | €308,832 | +€26,110 | +9.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €581,435 | €757,644 | +€176,209 | +30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,377 | €128,184 | +€32,807 | +34.4% |
| Other operating charges | 640/8 | €9,600 | €8,985 | -€615 | -6.4% |
| Non-recurring operating charges | 66A | €21,500 | €3,991 | -€17,510 | -81.4% |
| Gross operating margin | 9900 | €776,757 | €956,859 | +€180,102 | +23.2% |
| Operating profit (loss) | 9901 | €68,844 | €58,055 | -€10,789 | -15.7% |
| Financial income | 75/76B | €1,141 | €2,130 | +€989 | +86.7% |
| Recurring financial income | 75 | €1,141 | €2,130 | +€989 | +86.7% |
| Financial charges | 65/66B | €1,935 | €1,429 | -€505 | -26.1% |
| Recurring financial charges | 65 | €1,935 | €1,429 | -€505 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €68,050 | €58,756 | -€9,295 | -13.7% |
| Income taxes | 67/77 | €498 | €500 | +€2 | +0.4% |
| Profit (loss) for the period | 9904 | €67,552 | €58,256 | -€9,297 | -13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €67,552 | €58,256 | -€9,297 | -13.8% |
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 7 October 2026 via checked.be.