Ustun group: 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.
Ustun group
Largest movements
- Receivables within one year +€40,770
up €40,770 (+105.5%), from €38,639 to €79,409
of which Trade receivables: +€40,834
- Tangible fixed assets -€18,807
down €18,807 (-21.2%), from €88,767 to €69,960
- Cash -€17,475
down €17,475 (-75.8%), from €23,042 to €5,568
mainly Receivables within one year (-€40,770) and Trade debts (-€30,306)
- Trade debts -€30,306
down €30,306 (-82.6%), from €36,697 to €6,391
- Reserves +€28,818
up €28,818 (+98.5%), from €29,264 to €58,082
of which Distributable reserves: +€28,818
- Debts after one year -€25,000
down €25,000 (-45.1%), from €55,475 to €30,475
- Tax, wage and social debts +€22,936
up €22,936 (+127.1%), from €18,051 to €40,987
of which Taxes: +€16,937
- Other debts +€8,040
up €8,040 (+836.9%), from €961 to €9,001
- Gross operating margin +€111,618
up €111,618 (+218.5%), from €51,094 to €162,712
- Staff costs +€91,656
up €91,656 (+30852.3%), from €297 to €91,953
- Depreciation +€12,538
up €12,538 (+200.0%), from €6,269 to €18,807
- Other operating charges +€5,135
up €5,135 (+498.4%), from €1,030 to €6,165
- Taxes +€2,464
up €2,464 (+17.5%), from €14,115 to €16,579
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €150,448 | €154,936 | +€4,488 | +3.0% |
| Fixed assets | 21/28 | €88,767 | €69,960 | -€18,807 | -21.2% |
| Tangible fixed assets | 22/27 | €88,767 | €69,960 | -€18,807 | -21.2% |
| Furniture and vehicles | 24 | €88,767 | €69,960 | -€18,807 | -21.2% |
| Current assets | 29/58 | €61,681 | €84,976 | +€23,295 | +37.8% |
| Amounts receivable within one year | 40/41 | €38,639 | €79,409 | +€40,770 | +105.5% |
| Trade receivables | 40 | €38,575 | €79,409 | +€40,834 | +105.9% |
| Other amounts receivable | 41 | €64 | - | -€64 | |
| Cash at bank and in hand | 54/58 | €23,042 | €5,568 | -€17,475 | -75.8% |
| Total equity and liabilities | 10/49 | €150,448 | €154,936 | +€4,488 | +3.0% |
| Equity | 10/15 | €39,264 | €68,082 | +€28,818 | +73.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €29,264 | €58,082 | +€28,818 | +98.5% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,000 | €1,000 | = | 0.0% |
| Distributable reserves | 133 | €28,264 | €57,082 | +€28,818 | +102.0% |
| Amounts payable | 17/49 | €111,184 | €86,854 | -€24,330 | -21.9% |
| Amounts payable after more than one year | 17 | €55,475 | €30,475 | -€25,000 | -45.1% |
| Financial debts | 170/4 | €55,475 | €30,475 | -€25,000 | -45.1% |
| Amounts payable within one year | 42/48 | €55,709 | €56,379 | +€670 | +1.2% |
| Trade debts | 44 | €36,697 | €6,391 | -€30,306 | -82.6% |
| Suppliers | 440/4 | €36,697 | €6,391 | -€30,306 | -82.6% |
| Taxes, remuneration and social security | 45 | €18,051 | €40,987 | +€22,936 | +127.1% |
| Taxes | 450/3 | €18,051 | €34,988 | +€16,937 | +93.8% |
| Remuneration and social security | 454/9 | - | €5,999 | +€5,999 | |
| Other amounts payable | 47/48 | €961 | €9,001 | +€8,040 | +836.9% |
| Remuneration, social security and pensions | 62 | €297 | €91,953 | +€91,656 | +30852.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,269 | €18,807 | +€12,538 | +200.0% |
| Other operating charges | 640/8 | €1,030 | €6,165 | +€5,135 | +498.4% |
| Gross operating margin | 9900 | €51,094 | €162,712 | +€111,618 | +218.5% |
| Operating profit (loss) | 9901 | €43,498 | €45,787 | +€2,289 | +5.3% |
| Financial charges | 65/66B | €118 | €390 | +€271 | +229.2% |
| Recurring financial charges | 65 | €118 | €390 | +€271 | +229.2% |
| Profit (loss) for the period before taxes | 9903 | €43,379 | €45,397 | +€2,018 | +4.7% |
| Income taxes | 67/77 | €14,115 | €16,579 | +€2,464 | +17.5% |
| Profit (loss) for the period | 9904 | €29,264 | €28,818 | -€446 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,264 | €28,818 | -€446 | -1.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.