BUBALE: 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.
BUBALE
Largest movements
- Current investments -€1.8m
down €1.8m (-45.4%), from €4.0m to €2.2m
- Cash +€1.1m
up €1.1m (+234.5%), from €473,840 to €1.6m
mainly Current investments (+€1.8m) and Net result for the year (+€555,608)
- Receivables within one year +€494,993
up €494,993 (+41.6%), from €1.2m to €1.7m
- Deferred charges and accrued income +€410,312
up €410,312 (+637.8%), from €64,331 to €474,644
- Tangible fixed assets -€407,532
no longer reported in 2025 (was €407,532)
- Other debts -€818,407
down €818,407 (-45.2%), from €1.8m to €993,881
- Profit (loss) carried forward +€555,608
up €555,608, from -€12,365 to €543,243
- Financial income +€692,396
up €692,396 (+77.4%), from €894,253 to €1.6m
of which Non-recurring financial income: +€495,848
- Financial charges +€238,172
up €238,172 (+39.1%), from €609,472 to €847,643
of which Non-recurring financial charges: +€292,160
- Other operating charges +€150,174
up €150,174 (+80500.9%), from €187 to €150,361
- Gross operating margin -€22,344
down €22,344 (-475.6%), from -€4,698 to -€27,042
- Depreciation -€5,863
down €5,863 (-49.4%), from €11,858 to €5,995
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 | €6,557,602 | €6,312,224 | -€245,378 | -3.7% |
| Fixed assets | 21/28 | €794,857 | €363,027 | -€431,830 | -54.3% |
| Tangible fixed assets | 22/27 | €407,532 | - | -€407,532 | |
| Land and buildings | 22 | €407,532 | - | -€407,532 | |
| Financial fixed assets | 28 | €387,325 | €363,027 | -€24,298 | -6.3% |
| Current assets | 29/58 | €5,762,745 | €5,949,197 | +€186,452 | +3.2% |
| Amounts receivable within one year | 40/41 | €1,190,111 | €1,685,104 | +€494,993 | +41.6% |
| Other amounts receivable | 41 | €1,190,111 | €1,685,104 | +€494,993 | +41.6% |
| Current investments | 50/53 | €4,034,464 | €2,204,455 | -€1.8m | -45.4% |
| Cash at bank and in hand | 54/58 | €473,840 | €1,584,995 | +€1.1m | +234.5% |
| Deferred charges and accrued income | 490/1 | €64,331 | €474,644 | +€410,312 | +637.8% |
| Total equity and liabilities | 10/49 | €6,557,602 | €6,312,224 | -€245,378 | -3.7% |
| Equity | 10/15 | €4,730,175 | €5,285,783 | +€555,608 | +11.7% |
| Contributions | 10/11 | €4,311,400 | €4,311,400 | = | 0.0% |
| Reserves | 13 | €431,140 | €431,140 | = | 0.0% |
| Non-distributable reserves | 130/1 | €431,140 | €431,140 | = | 0.0% |
| Reserves not available under the articles | 1311 | €431,140 | €431,140 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,365 | €543,243 | +€555,608 | |
| Provisions and deferred taxes | 16 | - | €9,517 | +€9,517 | |
| Provisions for liabilities and charges | 160/5 | - | €9,517 | +€9,517 | |
| Other liabilities and charges | 164/5 | - | €9,517 | +€9,517 | |
| Amounts payable | 17/49 | €1,827,428 | €1,016,925 | -€810,503 | -44.4% |
| Amounts payable within one year | 42/48 | €1,812,983 | €1,016,925 | -€796,058 | -43.9% |
| Trade debts | 44 | €695 | €17,549 | +€16,854 | +2424.8% |
| Suppliers | 440/4 | €695 | €17,549 | +€16,854 | +2424.8% |
| Taxes, remuneration and social security | 45 | - | €5,495 | +€5,495 | |
| Taxes | 450/3 | - | €5,495 | +€5,495 | |
| Other amounts payable | 47/48 | €1,812,288 | €993,881 | -€818,407 | -45.2% |
| Accrued charges and deferred income | 492/3 | €14,445 | - | -€14,445 | |
| Non-recurring operating income | 76A | - | €72,499 | +€72,499 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,858 | €5,995 | -€5,863 | -49.4% |
| Other operating charges | 640/8 | €187 | €150,361 | +€150,174 | +80500.9% |
| Gross operating margin | 9900 | -€4,698 | -€27,042 | -€22,344 | -475.6% |
| Operating profit (loss) | 9901 | -€16,742 | -€183,398 | -€166,656 | -995.4% |
| Financial income | 75/76B | €894,253 | €1,586,649 | +€692,396 | +77.4% |
| Recurring financial income | 75 | €15,706 | €212,254 | +€196,548 | +1251.5% |
| Non-recurring financial income | 76B | €878,548 | €1,374,396 | +€495,848 | +56.4% |
| Financial charges | 65/66B | €609,472 | €847,643 | +€238,172 | +39.1% |
| Recurring financial charges | 65 | €122,306 | €68,317 | -€53,988 | -44.1% |
| Non-recurring financial charges | 66B | €487,166 | €779,326 | +€292,160 | +60.0% |
| Profit (loss) for the period before taxes | 9903 | €268,040 | €555,608 | +€287,569 | +107.3% |
| Profit (loss) for the period | 9904 | €268,040 | €555,608 | +€287,569 | +107.3% |
| Profit (loss) for the period to be appropriated | 9905 | €268,040 | €555,608 | +€287,569 | +107.3% |
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 2 October 2026 via checked.be.