HOLDING GUSTIN: 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.
HOLDING GUSTIN
Largest movements
- Receivables within one year +€38,193
up €38,193 (+27.3%), from €139,893 to €178,085
- Reserves +€230,095
up €230,095 (+723%), from €31,818 to €261,913
- Debts after one year -€123,643
down €123,643 (-27.6%), from €448,501 to €324,858
of which Financial debts: -€123,643
- Profit (loss) carried forward -€69,000
down €69,000 (-14.4%), from €480,646 to €411,646
- Other debts -€21,000
down €21,000 (-23.3%), from €90,000 to €69,000
- Tax, wage and social debts +€20,618
up €20,618 (+370%), from €5,574 to €26,191
- Gross operating margin +€89,862
up €89,862 (+50.5%), from €178,092 to €267,954
- Taxes +€19,828
up €19,828 (+623%), from €3,182 to €23,010
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.
Derived cash bridge
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 | €1,443,900 | €1,485,376 | +€41,476 | +2.9% |
| Formation expenses | 20 | €50 | €0 | -€50 | -100% |
| Fixed assets | 21/28 | €1,299,323 | €1,299,323 | = | 0.0% |
| Financial fixed assets | 28 | €1,299,323 | €1,299,323 | = | 0.0% |
| Current assets | 29/58 | €144,527 | €186,053 | +€41,526 | +28.7% |
| Amounts receivable within one year | 40/41 | €139,893 | €178,085 | +€38,193 | +27.3% |
| Other amounts receivable | 41 | €139,893 | €178,085 | +€38,193 | +27.3% |
| Cash at bank and in hand | 54/58 | €4,634 | €7,967 | +€3,333 | +71.9% |
| Total equity and liabilities | 10/49 | €1,443,900 | €1,485,376 | +€41,476 | +2.9% |
| Equity | 10/15 | €772,464 | €933,560 | +€161,095 | +20.9% |
| Contributions | 10/11 | €260,000 | €260,000 | = | 0.0% |
| Reserves | 13 | €31,818 | €261,913 | +€230,095 | +723% |
| Distributable reserves | 133 | €31,818 | €261,913 | +€230,095 | +723% |
| Profit (loss) carried forward | 14 | €480,646 | €411,646 | -€69,000 | -14.4% |
| Amounts payable | 17/49 | €671,435 | €551,816 | -€119,619 | -17.8% |
| Amounts payable after more than one year | 17 | €448,501 | €324,858 | -€123,643 | -27.6% |
| Financial debts | 170/4 | €249,178 | €125,535 | -€123,643 | -49.6% |
| Other amounts payable | 178/9 | €199,323 | €199,323 | = | 0.0% |
| Amounts payable within one year | 42/48 | €217,354 | €218,986 | +€1,632 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €121,780 | €123,643 | +€1,863 | +1.5% |
| Trade debts | 44 | - | €151 | +€151 | |
| Suppliers | 440/4 | - | €151 | +€151 | |
| Taxes, remuneration and social security | 45 | €5,574 | €26,191 | +€20,618 | +370% |
| Taxes | 450/3 | €5,574 | €26,191 | +€20,618 | +370% |
| Other amounts payable | 47/48 | €90,000 | €69,000 | -€21,000 | -23.3% |
| Accrued charges and deferred income | 492/3 | €5,581 | €7,973 | +€2,392 | +42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €603 | €50 | -€554 | -91.8% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €178,092 | €267,954 | +€89,862 | +50.5% |
| Operating profit (loss) | 9901 | €176,521 | €266,906 | +€90,385 | +51.2% |
| Financial charges | 65/66B | €15,636 | €13,801 | -€1,835 | -11.7% |
| Recurring financial charges | 65 | €15,636 | €13,801 | -€1,835 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €160,885 | €253,105 | +€92,220 | +57.3% |
| Income taxes | 67/77 | €3,182 | €23,010 | +€19,828 | +623% |
| Profit (loss) for the period | 9904 | €157,703 | €230,095 | +€72,392 | +45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €157,703 | €230,095 | +€72,392 | +45.9% |
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 27 October 2026 via checked.be.