STUDIO GUSTO: 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.
STUDIO GUSTO
Largest movements
- Tangible fixed assets -€22,895
down €22,895 (-13.8%), from €165,479 to €142,584
of which Land and buildings: -€19,645
- Receivables within one year -€9,288
down €9,288 (-28.3%), from €32,874 to €23,587
of which Trade receivables: -€6,276
- Cash +€6,778
up €6,778 (+108.3%), from €6,259 to €13,037
mainly Net result for the year (+€30,271) and Depreciation (+€22,895)
- Debts after one year -€68,988
down €68,988 (-50.4%), from €136,987 to €67,999
- Reserves +€16,483
up €16,483 (+33.4%), from €49,411 to €65,895
of which Distributable reserves: +€18,343
- Profit (loss) carried forward +€12,954
no longer reported in 2025 (was -€12,954)
- Tax, wage and social debts +€7,335
up €7,335 (+235.3%), from €3,117 to €10,452
- Trade debts +€6,331
up €6,331 (+1500.5%), from €422 to €6,752
- Gross operating margin +€31,893
up €31,893 (+82.8%), from €38,532 to €70,425
- Taxes +€9,504
up €9,504 (+4684.1%), from €203 to €9,706
- Financial charges -€2,109
down €2,109 (-29.0%), from €7,269 to €5,160
- Depreciation +€992
up €992 (+4.5%), from €21,903 to €22,895
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 | €206,223 | €180,857 | -€25,366 | -12.3% |
| Fixed assets | 21/28 | €165,479 | €142,584 | -€22,895 | -13.8% |
| Tangible fixed assets | 22/27 | €165,479 | €142,584 | -€22,895 | -13.8% |
| Land and buildings | 22 | €156,232 | €136,587 | -€19,645 | -12.6% |
| Plant, machinery and equipment | 23 | €9,247 | €5,997 | -€3,250 | -35.1% |
| Current assets | 29/58 | €40,744 | €38,272 | -€2,471 | -6.1% |
| Amounts receivable within one year | 40/41 | €32,874 | €23,587 | -€9,288 | -28.3% |
| Trade receivables | 40 | €23,008 | €16,732 | -€6,276 | -27.3% |
| Other amounts receivable | 41 | €9,866 | €6,855 | -€3,011 | -30.5% |
| Cash at bank and in hand | 54/58 | €6,259 | €13,037 | +€6,778 | +108.3% |
| Deferred charges and accrued income | 490/1 | €1,611 | €1,649 | +€38 | +2.3% |
| Total equity and liabilities | 10/49 | €206,223 | €180,857 | -€25,366 | -12.3% |
| Equity | 10/15 | €55,057 | €84,495 | +€29,438 | +53.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,411 | €65,895 | +€16,483 | +33.4% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €47,551 | €65,895 | +€18,343 | +38.6% |
| Profit (loss) carried forward | 14 | -€12,954 | - | +€12,954 | |
| Amounts payable | 17/49 | €151,166 | €96,362 | -€54,804 | -36.3% |
| Amounts payable after more than one year | 17 | €136,987 | €67,999 | -€68,988 | -50.4% |
| Financial debts | 170/4 | €136,987 | €67,999 | -€68,988 | -50.4% |
| Amounts payable within one year | 42/48 | €14,179 | €28,363 | +€14,184 | +100.0% |
| Current portion of amounts payable after more than one year | 42 | €10,552 | €10,987 | +€435 | +4.1% |
| Financial debts | 43 | €89 | €90 | +€1 | +1.0% |
| Credit institutions | 430/8 | €89 | €90 | +€1 | +1.0% |
| Trade debts | 44 | €422 | €6,752 | +€6,331 | +1500.5% |
| Suppliers | 440/4 | €422 | €6,752 | +€6,331 | +1500.5% |
| Taxes, remuneration and social security | 45 | €3,117 | €10,452 | +€7,335 | +235.3% |
| Taxes | 450/3 | €3,117 | €10,452 | +€7,335 | +235.3% |
| Other amounts payable | 47/48 | - | €82 | +€82 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,903 | €22,895 | +€992 | +4.5% |
| Other operating charges | 640/8 | €2,711 | €2,393 | -€318 | -11.7% |
| Gross operating margin | 9900 | €38,532 | €70,425 | +€31,893 | +82.8% |
| Operating profit (loss) | 9901 | €13,919 | €45,137 | +€31,218 | +224.3% |
| Financial charges | 65/66B | €7,269 | €5,160 | -€2,109 | -29.0% |
| Recurring financial charges | 65 | €7,269 | €5,160 | -€2,109 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €6,650 | €39,977 | +€33,327 | +501.2% |
| Income taxes | 67/77 | €203 | €9,706 | +€9,504 | +4684.1% |
| Profit (loss) for the period | 9904 | €6,447 | €30,271 | +€23,824 | +369.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,447 | €30,271 | +€23,824 | +369.6% |
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 9 October 2026 via checked.be.