A. Bundy Consult: 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.
A. Bundy Consult
Largest movements
- Tangible fixed assets +€75,655
up €75,655 (+239.0%), from €31,650 to €107,305
of which Furniture and vehicles: +€72,285
- Receivables within one year +€51,441
up €51,441 (+65.2%), from €78,873 to €130,314
of which Trade receivables: +€93,945
- Cash +€36,722
up €36,722 (+56.9%), from €64,511 to €101,233
mainly Net result for the year (+€81,267) and Other debts (+€68,870)
- Other debts +€68,870
up €68,870 (+148.3%), from €46,437 to €115,307
- Trade debts +€57,717
up €57,717 (+394.6%), from €14,627 to €72,344
- Reserves -€39,674
down €39,674 (-49.5%), from €80,088 to €40,414
- Debts after one year +€37,467
up €37,467 (+292.2%), from €12,821 to €50,288
- Advances received +€26,349
new in 2025: €26,349
- Gross operating margin +€60,326
up €60,326 (+71.0%), from €84,990 to €145,316
- Taxes +€14,470
up €14,470 (+100.0%), from €14,470 to €28,940
- Depreciation +€7,151
up €7,151 (+117.9%), from €6,065 to €13,216
- Financial charges -€2,959
down €2,959 (-12.8%), from €23,074 to €20,115
of which Non-recurring financial charges: -€2,500
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 | €179,683 | €343,131 | +€163,448 | +91.0% |
| Fixed assets | 21/28 | €32,550 | €108,205 | +€75,655 | +232.4% |
| Tangible fixed assets | 22/27 | €31,650 | €107,305 | +€75,655 | +239.0% |
| Plant, machinery and equipment | 23 | €1,933 | €4,572 | +€2,640 | +136.6% |
| Furniture and vehicles | 24 | €3,594 | €75,879 | +€72,285 | +2011.2% |
| Other tangible fixed assets | 26 | €26,123 | €26,853 | +€730 | +2.8% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €147,134 | €234,926 | +€87,792 | +59.7% |
| Amounts receivable within one year | 40/41 | €78,873 | €130,314 | +€51,441 | +65.2% |
| Trade receivables | 40 | €32,357 | €126,302 | +€93,945 | +290.3% |
| Other amounts receivable | 41 | €46,516 | €4,012 | -€42,504 | -91.4% |
| Cash at bank and in hand | 54/58 | €64,511 | €101,233 | +€36,722 | +56.9% |
| Deferred charges and accrued income | 490/1 | €3,750 | €3,379 | -€371 | -9.9% |
| Total equity and liabilities | 10/49 | €179,683 | €343,131 | +€163,448 | +91.0% |
| Equity | 10/15 | €83,588 | €43,914 | -€39,674 | -47.5% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €80,088 | €40,414 | -€39,674 | -49.5% |
| Distributable reserves | 133 | €80,088 | €40,414 | -€39,674 | -49.5% |
| Amounts payable | 17/49 | €96,095 | €299,217 | +€203,122 | +211.4% |
| Amounts payable after more than one year | 17 | €12,821 | €50,288 | +€37,467 | +292.2% |
| Financial debts | 170/4 | €12,821 | €50,288 | +€37,467 | +292.2% |
| Amounts payable within one year | 42/48 | €83,274 | €248,929 | +€165,654 | +198.9% |
| Current portion of amounts payable after more than one year | 42 | €7,665 | €20,008 | +€12,343 | +161.0% |
| Trade debts | 44 | €14,627 | €72,344 | +€57,717 | +394.6% |
| Suppliers | 440/4 | €14,627 | €72,344 | +€57,717 | +394.6% |
| Advances received on contracts in progress | 46 | - | €26,349 | +€26,349 | |
| Taxes, remuneration and social security | 45 | €14,545 | €14,921 | +€375 | +2.6% |
| Taxes | 450/3 | €12,092 | €12,793 | +€701 | +5.8% |
| Remuneration and social security | 454/9 | €2,454 | €2,128 | -€326 | -13.3% |
| Other amounts payable | 47/48 | €46,437 | €115,307 | +€68,870 | +148.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,065 | €13,216 | +€7,151 | +117.9% |
| Other operating charges | 640/8 | €1,707 | €930 | -€777 | -45.5% |
| Non-recurring operating charges | 66A | - | €848 | +€848 | |
| Gross operating margin | 9900 | €84,990 | €145,316 | +€60,326 | +71.0% |
| Operating profit (loss) | 9901 | €77,218 | €130,322 | +€53,104 | +68.8% |
| Financial charges | 65/66B | €23,074 | €20,115 | -€2,959 | -12.8% |
| Recurring financial charges | 65 | €20,574 | €20,115 | -€459 | -2.2% |
| Non-recurring financial charges | 66B | €2,500 | - | -€2,500 | |
| Profit (loss) for the period before taxes | 9903 | €54,144 | €110,207 | +€56,063 | +103.5% |
| Income taxes | 67/77 | €14,470 | €28,940 | +€14,470 | +100.0% |
| Profit (loss) for the period | 9904 | €39,674 | €81,267 | +€41,593 | +104.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,674 | €81,267 | +€41,593 | +104.8% |
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 11 October 2026 via checked.be.