Arthur Bukavyn: 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.
Arthur Bukavyn
Largest movements
- Receivables within one year +€126,145
up €126,145 (+5,863%), from €2,152 to €128,296
of which Other amounts receivable: +€113,571
- Tangible fixed assets +€7,492
up €7,492 (+109%), from €6,849 to €14,341
of which Furniture and vehicles: +€8,412
- Other debts +€168,486
up €168,486 (+16,682%), from €1,010 to €169,496
- Debts after one year -€23,809
down €23,809 (-47.1%), from €50,509 to €26,699
- Reserves +€22,411
up €22,411 (+23.2%), from €96,543 to €118,954
- Tax, wage and social debts -€14,572
down €14,572 (-38.7%), from €37,670 to €23,098
- Short-term financial debts -€14,396
down €14,396 (-100%), from €14,396 to €0
- Gross operating margin +€20,299
up €20,299 (+86.3%), from €23,518 to €43,817
- Other operating charges -€5,361
down €5,361 (-92.3%), from €5,807 to €446
- Taxes +€3,760
up €3,760 (+62.7%), from €5,993 to €9,754
- Depreciation +€701
up €701 (+38.8%), from €1,807 to €2,508
- Financial charges +€612
up €612 (+7.3%), from €8,376 to €8,987
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 | €247,558 | €377,647 | +€130,089 | +52.5% |
| Fixed assets | 21/28 | €141,849 | €149,341 | +€7,492 | +5.3% |
| Tangible fixed assets | 22/27 | €6,849 | €14,341 | +€7,492 | +109% |
| Furniture and vehicles | 24 | €1,034 | €9,446 | +€8,412 | +813% |
| Other tangible fixed assets | 26 | €5,815 | €4,895 | -€920 | -15.8% |
| Financial fixed assets | 28 | €135,000 | €135,000 | = | 0.0% |
| Current assets | 29/58 | €105,709 | €228,306 | +€122,597 | +116% |
| Amounts receivable after more than one year | 29 | €98,069 | €98,069 | = | 0.0% |
| Other amounts receivable | 291 | €98,069 | €98,069 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,152 | €128,296 | +€126,145 | +5,863% |
| Trade receivables | 40 | €1,202 | €13,775 | +€12,574 | +1,046% |
| Other amounts receivable | 41 | €950 | €114,521 | +€113,571 | +11,955% |
| Cash at bank and in hand | 54/58 | €5,489 | €1,941 | -€3,548 | -64.6% |
| Total equity and liabilities | 10/49 | €247,558 | €377,647 | +€130,089 | +52.5% |
| Equity | 10/15 | €101,543 | €123,954 | +€22,411 | +22.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €96,543 | €118,954 | +€22,411 | +23.2% |
| Distributable reserves | 133 | €96,543 | €118,954 | +€22,411 | +23.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €146,015 | €253,693 | +€107,678 | +73.7% |
| Amounts payable after more than one year | 17 | €50,509 | €26,699 | -€23,809 | -47.1% |
| Financial debts | 170/4 | €50,509 | €26,699 | -€23,809 | -47.1% |
| Amounts payable within one year | 42/48 | €95,506 | €226,994 | +€131,487 | +138% |
| Current portion of amounts payable after more than one year | 42 | €23,340 | €23,809 | +€470 | +2.0% |
| Financial debts | 43 | €14,396 | €0 | -€14,396 | -100% |
| Credit institutions | 430/8 | €14,396 | €0 | -€14,396 | -100% |
| Trade debts | 44 | €9,090 | €590 | -€8,500 | -93.5% |
| Suppliers | 440/4 | €9,090 | €590 | -€8,500 | -93.5% |
| Advances received on contracts in progress | 46 | €10,000 | €10,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €37,670 | €23,098 | -€14,572 | -38.7% |
| Taxes | 450/3 | €37,670 | €23,098 | -€14,572 | -38.7% |
| Other amounts payable | 47/48 | €1,010 | €169,496 | +€168,486 | +16,682% |
| Remuneration, social security and pensions | 62 | - | €282 | +€282 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,807 | €2,508 | +€701 | +38.8% |
| Other operating charges | 640/8 | €5,807 | €446 | -€5,361 | -92.3% |
| Gross operating margin | 9900 | €23,518 | €43,817 | +€20,299 | +86.3% |
| Operating profit (loss) | 9901 | €15,904 | €40,581 | +€24,677 | +155% |
| Financial income | 75/76B | €1,950 | €1,403 | -€547 | -28.0% |
| Recurring financial income | 75 | €1,950 | €1,403 | -€547 | -28.0% |
| Financial charges | 65/66B | €8,376 | €8,987 | +€612 | +7.3% |
| Recurring financial charges | 65 | €8,376 | €8,987 | +€612 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €9,479 | €32,998 | +€23,519 | +248% |
| Income taxes | 67/77 | €5,993 | €9,754 | +€3,760 | +62.7% |
| Profit (loss) for the period | 9904 | €3,486 | €23,244 | +€19,758 | +567% |
| Profit (loss) for the period to be appropriated | 9905 | €3,486 | €23,244 | +€19,758 | +567% |
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 17 October 2026 via checked.be.