BUBUGEST: 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.
BUBUGEST
Largest movements
- Tangible fixed assets +€55,888
up €55,888 (+28.5%), from €196,273 to €252,161
of which Furniture and vehicles: +€66,099
- Cash +€19,965
up €19,965 (+100%), from €19,934 to €39,900
mainly Net result for the year (+€33,531) and Depreciation (+€31,708)
- Intangible fixed assets -€8,410
down €8,410 (-42.6%), from €19,719 to €11,309
- Reserves +€33,531
up €33,531 (+58.8%), from €57,030 to €90,561
- Debts after one year +€30,444
up €30,444 (+52.7%), from €57,744 to €88,188
- Current portion of long-term debt +€4,165
up €4,165 (+33.8%), from €12,311 to €16,476
- Trade debts +€3,314
up €3,314 (+485%), from €683 to €3,997
- Gross operating margin +€6,297
up €6,297 (+7.8%), from €81,023 to €87,320
- Taxes -€5,771
down €5,771 (-28.9%), from €19,972 to €14,201
- Depreciation +€4,887
up €4,887 (+18.2%), from €26,821 to €31,708
- Other operating charges +€2,229
up €2,229 (+110%), from €2,030 to €4,260
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 | €256,521 | €327,975 | +€71,454 | +27.9% |
| Fixed assets | 21/28 | €218,031 | €265,509 | +€47,478 | +21.8% |
| Intangible fixed assets | 21 | €19,719 | €11,309 | -€8,410 | -42.6% |
| Tangible fixed assets | 22/27 | €196,273 | €252,161 | +€55,888 | +28.5% |
| Land and buildings | 22 | €187,776 | €176,583 | -€11,193 | -6.0% |
| Plant, machinery and equipment | 23 | €2,870 | €3,852 | +€982 | +34.2% |
| Furniture and vehicles | 24 | €5,627 | €71,726 | +€66,099 | +1,175% |
| Financial fixed assets | 28 | €2,039 | €2,039 | = | 0.0% |
| Current assets | 29/58 | €38,490 | €62,466 | +€23,977 | +62.3% |
| Amounts receivable within one year | 40/41 | €13,290 | €14,500 | +€1,210 | +9.1% |
| Trade receivables | 40 | €995 | €298 | -€697 | -70.0% |
| Other amounts receivable | 41 | €12,295 | €14,202 | +€1,907 | +15.5% |
| Cash at bank and in hand | 54/58 | €19,934 | €39,900 | +€19,965 | +100% |
| Deferred charges and accrued income | 490/1 | €5,265 | €8,066 | +€2,801 | +53.2% |
| Total equity and liabilities | 10/49 | €256,521 | €327,975 | +€71,454 | +27.9% |
| Equity | 10/15 | €179,133 | €212,664 | +€33,531 | +18.7% |
| Contributions | 10/11 | €149,600 | €149,600 | = | 0.0% |
| Reserves | 13 | €57,030 | €90,561 | +€33,531 | +58.8% |
| Distributable reserves | 133 | €57,030 | €90,561 | +€33,531 | +58.8% |
| Profit (loss) carried forward | 14 | -€27,497 | -€27,497 | = | 0.0% |
| Amounts payable | 17/49 | €77,388 | €115,311 | +€37,923 | +49.0% |
| Amounts payable after more than one year | 17 | €57,744 | €88,188 | +€30,444 | +52.7% |
| Financial debts | 170/4 | €57,744 | €88,188 | +€30,444 | +52.7% |
| Amounts payable within one year | 42/48 | €12,994 | €20,473 | +€7,479 | +57.6% |
| Current portion of amounts payable after more than one year | 42 | €12,311 | €16,476 | +€4,165 | +33.8% |
| Trade debts | 44 | €683 | €3,997 | +€3,314 | +485% |
| Suppliers | 440/4 | €683 | €3,997 | +€3,314 | +485% |
| Accrued charges and deferred income | 492/3 | €6,650 | €6,650 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,821 | €31,708 | +€4,887 | +18.2% |
| Other operating charges | 640/8 | €2,030 | €4,260 | +€2,229 | +110% |
| Gross operating margin | 9900 | €81,023 | €87,320 | +€6,297 | +7.8% |
| Operating profit (loss) | 9901 | €52,171 | €51,352 | -€819 | -1.6% |
| Financial income | 75/76B | - | €204 | +€204 | |
| Recurring financial income | 75 | - | €204 | +€204 | |
| Financial charges | 65/66B | €3,295 | €3,824 | +€529 | +16.1% |
| Recurring financial charges | 65 | €3,295 | €3,824 | +€529 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €48,876 | €47,732 | -€1,144 | -2.3% |
| Income taxes | 67/77 | €19,972 | €14,201 | -€5,771 | -28.9% |
| Profit (loss) for the period | 9904 | €28,904 | €33,531 | +€4,627 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,904 | €33,531 | +€4,627 | +16.0% |
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 22 October 2026 via checked.be.