BUCEPHALOS: 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.
BUCEPHALOS
Largest movements
- Cash +€22,781
up €22,781 (+38.0%), from €59,956 to €82,737
mainly Receivables within one year (+€17,140) and Net result for the year (+€16,995)
- Receivables within one year -€17,140
down €17,140 (-74.4%), from €23,052 to €5,913
of which Trade receivables: -€20,778
- Tangible fixed assets -€5,286
down €5,286 (-27.1%), from €19,506 to €14,221
of which Plant, machinery and equipment: -€3,543
- Profit (loss) carried forward +€15,159
up €15,159, from -€15,159 to €0
- Other debts -€6,219
down €6,219 (-100%), from €6,219 to €0
- Debts after one year -€5,117
down €5,117 (-65.9%), from €7,769 to €2,652
- Trade debts -€2,212
down €2,212 (-32.3%), from €6,860 to €4,647
- Accrued charges and deferred income -€1,967
down €1,967 (-95.6%), from €2,058 to €91
- Gross operating margin +€36,177
up €36,177, from -€12,966 to €23,212
- Depreciation +€1,684
up €1,684 (+46.7%), from €3,602 to €5,286
- Financial income +€356
up €356 (+55.6%), from €640 to €997
- Taxes +€299
up €299, from €0 to €299
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 | €104,151 | €104,502 | +€351 | +0.3% |
| Fixed assets | 21/28 | €19,796 | €14,511 | -€5,286 | -26.7% |
| Tangible fixed assets | 22/27 | €19,506 | €14,221 | -€5,286 | -27.1% |
| Plant, machinery and equipment | 23 | €14,591 | €11,048 | -€3,543 | -24.3% |
| Furniture and vehicles | 24 | €4,916 | €3,173 | -€1,743 | -35.5% |
| Financial fixed assets | 28 | €290 | €290 | = | 0.0% |
| Current assets | 29/58 | €84,355 | €89,991 | +€5,636 | +6.7% |
| Amounts receivable within one year | 40/41 | €23,052 | €5,913 | -€17,140 | -74.4% |
| Trade receivables | 40 | €20,778 | €0 | -€20,778 | -100% |
| Other amounts receivable | 41 | €2,274 | €5,913 | +€3,638 | +160% |
| Cash at bank and in hand | 54/58 | €59,956 | €82,737 | +€22,781 | +38.0% |
| Deferred charges and accrued income | 490/1 | €1,346 | €1,342 | -€5 | -0.3% |
| Total equity and liabilities | 10/49 | €104,151 | €104,502 | +€351 | +0.3% |
| Equity | 10/15 | €74,948 | €91,943 | +€16,995 | +22.7% |
| Contributions | 10/11 | €19,700 | €19,700 | = | 0.0% |
| Reserves | 13 | €70,407 | €72,243 | +€1,836 | +2.6% |
| Distributable reserves | 133 | €70,407 | €72,243 | +€1,836 | +2.6% |
| Profit (loss) carried forward | 14 | -€15,159 | €0 | +€15,159 | |
| Amounts payable | 17/49 | €29,203 | €12,559 | -€16,645 | -57.0% |
| Amounts payable after more than one year | 17 | €7,769 | €2,652 | -€5,117 | -65.9% |
| Financial debts | 170/4 | €7,769 | €2,652 | -€5,117 | -65.9% |
| Amounts payable within one year | 42/48 | €19,376 | €9,816 | -€9,560 | -49.3% |
| Current portion of amounts payable after more than one year | 42 | €4,878 | €5,117 | +€239 | +4.9% |
| Trade debts | 44 | €6,860 | €4,647 | -€2,212 | -32.3% |
| Suppliers | 440/4 | €6,860 | €4,647 | -€2,212 | -32.3% |
| Taxes, remuneration and social security | 45 | €1,419 | €51 | -€1,368 | -96.4% |
| Taxes | 450/3 | €1,419 | €51 | -€1,368 | -96.4% |
| Other amounts payable | 47/48 | €6,219 | €0 | -€6,219 | -100% |
| Accrued charges and deferred income | 492/3 | €2,058 | €91 | -€1,967 | -95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,602 | €5,286 | +€1,684 | +46.7% |
| Other operating charges | 640/8 | €846 | €834 | -€12 | -1.5% |
| Gross operating margin | 9900 | -€12,966 | €23,212 | +€36,177 | |
| Operating profit (loss) | 9901 | -€17,414 | €17,092 | +€34,506 | |
| Financial income | 75/76B | €640 | €997 | +€356 | +55.6% |
| Recurring financial income | 75 | €640 | €997 | +€356 | +55.6% |
| Financial charges | 65/66B | €767 | €795 | +€28 | +3.6% |
| Recurring financial charges | 65 | €767 | €795 | +€28 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | -€17,540 | €17,294 | +€34,834 | |
| Income taxes | 67/77 | €0 | €299 | +€299 | |
| Profit (loss) for the period | 9904 | -€17,540 | €16,995 | +€34,536 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,540 | €16,995 | +€34,536 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.