BUBBLE & BUBBLE: 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.
BUBBLE & BUBBLE
Largest movements
- Receivables within one year +€70,738
up €70,738 (+950%), from €7,446 to €78,184
of which Other amounts receivable: +€61,765
- Tangible fixed assets +€22,921
up €22,921 (+5.4%), from €422,274 to €445,194
of which Leasing and similar rights: +€58,269
- Cash +€8,322
up €8,322 (+41.2%), from €20,182 to €28,504
mainly Net result for the year (+€58,789) and Depreciation (+€51,712)
- Profit (loss) carried forward +€58,789
up €58,789 (+83.7%), from -€70,272 to -€11,483
- Tax, wage and social debts +€18,695
up €18,695 (+272%), from €6,876 to €25,571
- Current portion of long-term debt +€9,519
up €9,519 (+17.8%), from €53,613 to €63,132
- Trade debts +€9,136
up €9,136 (+256%), from €3,566 to €12,701
- Gross operating margin +€28,029
up €28,029 (+23.2%), from €120,574 to €148,604
- Taxes +€15,279
up €15,279 (+3,403%), from €449 to €15,728
- Depreciation +€8,227
up €8,227 (+18.9%), from €43,485 to €51,712
- Financial income +€1,931
up €1,931 (+720%), from €268 to €2,199
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 | €454,998 | €554,899 | +€99,901 | +22.0% |
| Fixed assets | 21/28 | €423,774 | €446,194 | +€22,421 | +5.3% |
| Tangible fixed assets | 22/27 | €422,274 | €445,194 | +€22,921 | +5.4% |
| Land and buildings | 22 | €349,663 | €324,975 | -€24,688 | -7.1% |
| Plant, machinery and equipment | 23 | €3,754 | €5,962 | +€2,208 | +58.8% |
| Furniture and vehicles | 24 | €6,410 | €7,338 | +€928 | +14.5% |
| Leasing and similar rights | 25 | - | €58,269 | +€58,269 | |
| Other tangible fixed assets | 26 | €62,448 | €48,651 | -€13,797 | -22.1% |
| Financial fixed assets | 28 | €1,500 | €1,000 | -€500 | -33.3% |
| Current assets | 29/58 | €31,225 | €108,705 | +€77,481 | +248% |
| Amounts receivable within one year | 40/41 | €7,446 | €78,184 | +€70,738 | +950% |
| Trade receivables | 40 | €1,452 | €10,425 | +€8,973 | +618% |
| Other amounts receivable | 41 | €5,994 | €67,759 | +€61,765 | +1,030% |
| Cash at bank and in hand | 54/58 | €20,182 | €28,504 | +€8,322 | +41.2% |
| Deferred charges and accrued income | 490/1 | €3,597 | €2,017 | -€1,580 | -43.9% |
| Total equity and liabilities | 10/49 | €454,998 | €554,899 | +€99,901 | +22.0% |
| Equity | 10/15 | -€51,672 | €7,117 | +€58,789 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,272 | -€11,483 | +€58,789 | +83.7% |
| Amounts payable | 17/49 | €506,670 | €547,782 | +€41,112 | +8.1% |
| Amounts payable after more than one year | 17 | €442,615 | €446,378 | +€3,763 | +0.9% |
| Financial debts | 170/4 | €439,507 | €446,378 | +€6,871 | +1.6% |
| Other amounts payable | 178/9 | €3,108 | - | -€3,108 | |
| Amounts payable within one year | 42/48 | €64,055 | €101,405 | +€37,349 | +58.3% |
| Current portion of amounts payable after more than one year | 42 | €53,613 | €63,132 | +€9,519 | +17.8% |
| Trade debts | 44 | €3,566 | €12,701 | +€9,136 | +256% |
| Suppliers | 440/4 | €3,566 | €12,701 | +€9,136 | +256% |
| Taxes, remuneration and social security | 45 | €6,876 | €25,571 | +€18,695 | +272% |
| Taxes | 450/3 | €6,876 | €25,571 | +€18,695 | +272% |
| Non-recurring operating income | 76A | - | €7,657 | +€7,657 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,485 | €51,712 | +€8,227 | +18.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,200 | +€1,200 | |
| Other operating charges | 640/8 | €6,335 | €6,406 | +€71 | +1.1% |
| Non-recurring operating charges | 66A | - | €731 | +€731 | |
| Gross operating margin | 9900 | €120,574 | €148,604 | +€28,029 | +23.2% |
| Operating profit (loss) | 9901 | €70,754 | €88,554 | +€17,800 | +25.2% |
| Financial income | 75/76B | €268 | €2,199 | +€1,931 | +720% |
| Recurring financial income | 75 | €268 | €2,199 | +€1,931 | +720% |
| Financial charges | 65/66B | €16,705 | €16,236 | -€469 | -2.8% |
| Recurring financial charges | 65 | €16,705 | €16,236 | -€469 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €54,317 | €74,517 | +€20,200 | +37.2% |
| Income taxes | 67/77 | €449 | €15,728 | +€15,279 | +3,403% |
| Profit (loss) for the period | 9904 | €53,868 | €58,789 | +€4,921 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,868 | €58,789 | +€4,921 | +9.1% |
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.