BUCOBA: 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.
BUCOBA
Largest movements
- Receivables within one year +€62,857
up €62,857 (+91.5%), from €68,729 to €131,587
of which Other amounts receivable: +€54,023
- Cash -€19,310
down €19,310 (-17.0%), from €113,722 to €94,411
mainly Receivables within one year (-€62,857) and Investment in fixed assets (net) (-€11,202)
- Financial fixed assets +€10,500
up €10,500 (+17,500%), from €60 to €10,560
- Tangible fixed assets -€9,623
down €9,623 (-28.1%), from €34,257 to €24,634
of which Furniture and vehicles: -€9,323
- Reserves +€53,396
up €53,396 (+32.9%), from €162,495 to €215,891
of which Distributable reserves: +€53,396
- Debts after one year -€8,648
down €8,648 (-37.4%), from €23,116 to €14,468
- Tax, wage and social debts -€3,517
down €3,517 (-28.1%), from €12,497 to €8,980
of which Remuneration and social security: -€3,000
- Gross operating margin +€4,495
up €4,495 (+5.3%), from €84,717 to €89,211
- Taxes +€1,381
up €1,381 (+7.1%), from €19,449 to €20,830
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 | €217,794 | €263,072 | +€45,278 | +20.8% |
| Fixed assets | 21/28 | €34,317 | €35,194 | +€877 | +2.6% |
| Tangible fixed assets | 22/27 | €34,257 | €24,634 | -€9,623 | -28.1% |
| Plant, machinery and equipment | 23 | €413 | €113 | -€300 | -72.6% |
| Furniture and vehicles | 24 | €33,843 | €24,520 | -€9,323 | -27.5% |
| Financial fixed assets | 28 | €60 | €10,560 | +€10,500 | +17,500% |
| Current assets | 29/58 | €183,477 | €227,879 | +€44,401 | +24.2% |
| Amounts receivable within one year | 40/41 | €68,729 | €131,587 | +€62,857 | +91.5% |
| Trade receivables | 40 | €68,359 | €77,193 | +€8,834 | +12.9% |
| Other amounts receivable | 41 | €371 | €54,394 | +€54,023 | +14,564% |
| Cash at bank and in hand | 54/58 | €113,722 | €94,411 | -€19,310 | -17.0% |
| Deferred charges and accrued income | 490/1 | €1,026 | €1,881 | +€854 | +83.2% |
| Total equity and liabilities | 10/49 | €217,794 | €263,072 | +€45,278 | +20.8% |
| Equity | 10/15 | €168,695 | €222,091 | +€53,396 | +31.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €162,495 | €215,891 | +€53,396 | +32.9% |
| Non-distributable reserves | 130/1 | €953 | €953 | = | 0.0% |
| Reserves not available under the articles | 1311 | €953 | €953 | = | 0.0% |
| Distributable reserves | 133 | €161,543 | €214,939 | +€53,396 | +33.1% |
| Amounts payable | 17/49 | €49,099 | €40,981 | -€8,118 | -16.5% |
| Amounts payable after more than one year | 17 | €23,116 | €14,468 | -€8,648 | -37.4% |
| Financial debts | 170/4 | €23,116 | €14,468 | -€8,648 | -37.4% |
| Amounts payable within one year | 42/48 | €25,983 | €26,513 | +€530 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €9,920 | €11,578 | +€1,658 | +16.7% |
| Trade debts | 44 | €2,770 | €5,293 | +€2,523 | +91.1% |
| Suppliers | 440/4 | €2,770 | €5,293 | +€2,523 | +91.1% |
| Taxes, remuneration and social security | 45 | €12,497 | €8,980 | -€3,517 | -28.1% |
| Taxes | 450/3 | €9,497 | €8,980 | -€517 | -5.4% |
| Remuneration and social security | 454/9 | €3,000 | €0 | -€3,000 | -100% |
| Other amounts payable | 47/48 | €795 | €662 | -€134 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,222 | €10,324 | +€103 | +1.0% |
| Other operating charges | 640/8 | €3,146 | €2,792 | -€354 | -11.3% |
| Non-recurring operating charges | 66A | €179 | €0 | -€179 | -100% |
| Gross operating margin | 9900 | €84,717 | €89,211 | +€4,495 | +5.3% |
| Operating profit (loss) | 9901 | €71,171 | €76,095 | +€4,924 | +6.9% |
| Financial income | 75/76B | €61 | €615 | +€554 | +908% |
| Recurring financial income | 75 | €61 | €615 | +€554 | +908% |
| Financial charges | 65/66B | €2,265 | €2,483 | +€219 | +9.7% |
| Recurring financial charges | 65 | €2,265 | €2,483 | +€219 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €68,967 | €74,226 | +€5,259 | +7.6% |
| Income taxes | 67/77 | €19,449 | €20,830 | +€1,381 | +7.1% |
| Profit (loss) for the period | 9904 | €49,517 | €53,396 | +€3,879 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,517 | €53,396 | +€3,879 | +7.8% |
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.