BUNCH (0668.799.162): financials and annual accounts

BUNCH

Ghent ·KBO/BCE: BE 0668.799.162

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017
Balance sheet: assets
Total assets`20/58`	1.0m	948,839	522,681	485,686	156,261	104,347	51,562	40,471	21,847
Fixed assets`21/28`	702,296	708,697	381,543	337,450	57,046	34,350	8,285	6,387	351
Intangible fixed assets`21`	33,802	5,766	13,985	19,964	8,788	12,940	1,417	-	-
Tangible fixed assets`22/27`	657,349	691,786	367,559	317,067	47,738	20,958	6,429	5,973	-
Plant, machinery and equipment`23`	536,368	592,931	309,747	301,046	40,565	19,999	6,429	5,973	-
Furniture and vehicles`24`	120,981	98,855	57,812	16,022	7,173	959	-	-	-
Financial fixed assets`28`	11,145	11,145	-	418	520	452	440	414	351
Current assets`29/58`	307,059	240,142	141,138	148,236	99,215	69,997	43,276	34,084	21,496
Stocks and contracts in progress`3`	131,312	81,341	33,553	26,628	20,176	5,658	-	-	-
Stocks`30/36`	131,312	81,341	33,553	26,628	20,176	5,658	-	-	-
Amounts receivable within one year`40/41`	164,286	133,151	89,764	100,805	68,155	48,710	34,278	27,445	18,861
Trade receivables`40`	131,603	117,896	86,661	57,303	23,339	15,359	10,961	22,882	18,608
Other amounts receivable`41`	32,682	15,255	3,103	43,502	44,816	33,351	23,317	4,563	253
Cash at bank and in hand`54/58`	6,353	21,585	10,282	19,755	10,589	14,836	8,854	5,877	1,873
Deferred charges and accrued income`490/1`	5,108	4,066	7,539	1,048	295	793	145	763	763
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	1.0m	948,839	522,681	485,686	156,261	104,347	51,562	40,471	21,847
Equity`10/15`	158,555	129,833	127,206	112,190	79,076	33,219	15,822	10,820	3,853
Contributions`10/11`	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400
Issued capital`100`	-	-	-	-	-	-	18,550	18,550	18,550
Uncalled capital`101`	-	-	-	-	-	-	6,150	6,150	6,150
Contributions outside capital`11`	-	-	-	-	-	12,400	-	-	-
Other`1109/19`	-	-	-	-	-	12,400	-	-	-
Profit (loss) carried forward`14`	146,155	117,433	114,806	99,790	66,676	20,819	3,422	-1,580	-8,547
Amounts payable`17/49`	850,799	819,006	395,476	373,496	77,185	71,128	35,739	29,651	17,995
Amounts payable after more than one year`17`	421,958	411,813	209,738	226,640	7,850	12,070	2,240	3,236	-
Financial debts`170/4`	421,958	411,813	209,738	226,640	7,850	12,070	2,240	3,236	-
Amounts payable within one year`42/48`	428,817	404,441	185,738	146,856	69,336	59,058	33,499	26,415	17,995
Current portion of amounts payable after more than one year`42`	77,143	67,151	41,423	16,820	4,221	4,131	995	972	-
Financial debts`43`	41,112	-	-	-	-	-	-	-	-
Credit institutions`430/8`	41,112	-	-	-	-	-	-	-	-
Trade debts`44`	205,238	230,924	98,963	100,006	43,524	45,436	21,791	19,667	7,958
Suppliers`440/4`	205,238	230,924	98,963	100,006	43,524	45,436	21,791	19,667	7,958
Taxes, remuneration and social security`45`	105,324	76,367	45,351	30,029	21,591	9,491	10,712	4,776	6,037
Taxes`450/3`	6,589	859	5,607	6,075	5,822	-	-	-	-
Remuneration and social security`454/9`	98,735	75,508	39,745	23,954	15,769	9,491	10,712	4,776	6,037
Other amounts payable`47/48`	-	30,000	-	-	-	-	-	1,000	4,000
Accrued charges and deferred income`492/3`	24	2,752	-	-	-	-	-	-	-
Income statement
Non-recurring operating income`76A`	-	6,957	9,571	6,568	7,250	44	-	-	-
Gross operating margin`9900`	1.5m	952,727	662,336	468,273	335,345	211,437	122,033	77,350	48,632
Remuneration, social security and pensions`62`	1.3m	792,940	555,576	393,866	255,752	180,106	112,006	67,780	56,797
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	142,430	97,120	75,227	32,041	14,819	6,600	1,902	691	-
Other operating charges`640/8`	2,417	668	648	666	663	661	820	683	348
Non-recurring operating charges`66A`	-	4,875	2,075	-	-	338	420	647	-
Operating profit (loss)`9901`	79,220	57,124	28,809	41,700	64,112	23,732	6,885	7,549	-8,513
Financial income`75/76B`	327	1,217	1,106	1	2	0	0	12	3
Recurring financial income`75`	327	1,217	1,106	1	2	0	0	12	3
Financial charges`65/66B`	38,063	17,768	13,912	8,334	6,002	3,343	970	593	38
Recurring financial charges`65`	34,813	17,768	13,912	8,334	6,002	3,343	970	593	38
Non-recurring financial charges`66B`	3,250	-	-	-	-	-	-	-	-
Profit (loss) for the period before taxes`9903`	41,484	40,573	16,003	33,367	58,112	20,390	5,915	6,968	-8,547
Income taxes`67/77`	12,762	7,945	988	253	12,255	2,993	913	-	-
Profit (loss) for the period`9904`	28,722	32,628	15,016	33,114	45,857	17,397	5,002	6,968	-8,547
Profit (loss) for the period to be appropriated`9905`	28,722	32,628	15,016	33,114	45,857	17,397	5,002	6,968	-8,547
Appropriation of the result
Profit (loss) to be appropriated`9906`	146,155	147,433	114,806	99,790	66,676	20,819	3,422	-1,580	-8,547
Profit (loss) brought forward from the previous period`14P`	117,433	114,806	99,790	66,676	20,819	-	-	-	-
Profit to be distributed`694/7`	-	30,000	-	-	-	-	-	-	-
Return on contributions (dividend)`694`	-	30,000	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	25.7	18	13.8	9.9	12.5	5.5	2.8	2.1	1.8
Hours worked`1013`	48,681	28,529	22,356	17,094	12,062	7,850	4,848	3,749	3,159
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	25-06-2026	2026-00198169	PDF
31-12-2024	abbreviated format	02-06-2025	2025-00112744	PDF
31-12-2023	abbreviated format	20-06-2024	2024-00154821	PDF
31-12-2022	micro format	13-06-2023	2023-00125929	PDF
31-12-2021	micro format	31-05-2022	2022-20041764	PDF
31-12-2020	micro format	01-06-2021	2021-16600109	PDF
31-12-2019	micro format	09-06-2020	2020-15700361	PDF
31-12-2018	micro format	12-06-2019	2019-17900100	PDF
31-12-2017	micro format	13-06-2018	2018-18200519	PDF

Year	Entries	Awarded	Paid
2025	1	€994	€994
2024	1	€353	€353
2022	2	€635	€635

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017
EBITDA	221,651	154,243	104,037	73,742	78,931	30,332	8,787	8,240	-
Cash flow	171,152	129,748	90,243	65,156	60,676	23,996	6,904	7,658	-
Investment in fixed assets	136,029	429,149	119,739	312,727	37,668	32,664	3,801	6,727	351
Change in cash	-15,232	11,303	-9,474	9,166	-4,246	5,982	2,977	4,004	-
Working capital	-121,758	-164,299	-44,600	1,381	29,880	10,939	9,777	7,669	3,501
Solvency	15.7%	13.7%	24.3%	23.1%	50.6%	31.8%	30.7%	26.7%	17.6%
Current ratio	0.72	0.59	0.76	1.01	1.43	1.19	1.29	1.29	1.19
Quick ratio	0.41	0.39	0.58	0.83	1.14	1.09	1.29	1.29	1.19
Debt to equity	5.37	6.31	3.11	3.33	0.98	2.14	2.26	2.74	4.67
ROE	18.1%	25.1%	11.8%	29.5%	58.0%	52.4%	31.6%	64.4%	-221.9%
ROA	2.8%	3.4%	2.9%	6.8%	29.3%	16.7%	9.7%	17.2%	-39.1%
Interest coverage	6.37	8.68	7.48	8.85	13.15	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	28	34	18	10	22
full-time	20	12	7	5	12
part-time	8	22	11	5	10
in full-time equivalents	25.2	21.2	13.1	7.5	17
Average over the year, in full-time equivalents	25.7	18	13.8	9.9	12.5
On a permanent contract	28	30	15	9	5
Joined	1,840	148	253	270	172
Left	1,846	132	245	266	163

BUNCH

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency15.7%

Current ratio0.72

Return on assets2.8%

Staff

Staff cost per FTE€51,113

Joined and left-6

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022 to 2025, 4 entries, €1,982 awarded, €1,982 paid

Key figures and ratios

Social balance sheet

Securities and guarantees

Investments

Insights on BUNCH

Next steps

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€99,609	€418,004	€114,814	€293,079	€35,904
Intangible fixed assets	€36,420	-	€4,925	€19,468	€1,543
Financial fixed assets	-	€11,145	-	€179	€221
Depreciation and write-downs of the year	€142,430	€97,120	€75,227	€32,041	€14,819