BUCOWEB: 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.
BUCOWEB
Largest movements
- Tangible fixed assets +€30,656
up €30,656 (+81.7%), from €37,529 to €68,185
of which Furniture and vehicles: +€31,964
- Cash +€12,661
up €12,661 (+8.7%), from €146,235 to €158,896
mainly Net result for the year (+€58,372) and Depreciation (+€13,577)
- Receivables within one year +€8,554
up €8,554 (+531.2%), from €1,610 to €10,164
of which Trade receivables: +€10,164
- Reserves +€58,000
up €58,000 (+37.9%), from €152,860 to €210,860
- Other debts -€5,102
down €5,102 (-66.2%), from €7,702 to €2,600
- Gross operating margin -€15,907
down €15,907 (-12.2%), from €130,145 to €114,238
- Taxes -€8,284
down €8,284 (-22.6%), from €36,724 to €28,439
- Depreciation +€2,665
up €2,665 (+24.4%), from €10,912 to €13,577
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 | €187,839 | €240,671 | +€52,832 | +28.1% |
| Fixed assets | 21/28 | €37,529 | €68,185 | +€30,656 | +81.7% |
| Tangible fixed assets | 22/27 | €37,529 | €68,185 | +€30,656 | +81.7% |
| Plant, machinery and equipment | 23 | €2,938 | €2,159 | -€779 | -26.5% |
| Furniture and vehicles | 24 | €34,015 | €65,979 | +€31,964 | +94.0% |
| Other tangible fixed assets | 26 | €576 | €46 | -€530 | -91.9% |
| Current assets | 29/58 | €150,310 | €172,487 | +€22,176 | +14.8% |
| Amounts receivable within one year | 40/41 | €1,610 | €10,164 | +€8,554 | +531.2% |
| Trade receivables | 40 | €0 | €10,164 | +€10,164 | |
| Other amounts receivable | 41 | €1,610 | €0 | -€1,610 | -100.0% |
| Cash at bank and in hand | 54/58 | €146,235 | €158,896 | +€12,661 | +8.7% |
| Deferred charges and accrued income | 490/1 | €2,465 | €3,427 | +€962 | +39.0% |
| Total equity and liabilities | 10/49 | €187,839 | €240,671 | +€52,832 | +28.1% |
| Equity | 10/15 | €172,378 | €230,750 | +€58,372 | +33.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €152,860 | €210,860 | +€58,000 | +37.9% |
| Distributable reserves | 133 | €152,860 | €210,860 | +€58,000 | +37.9% |
| Profit (loss) carried forward | 14 | €918 | €1,290 | +€372 | +40.5% |
| Amounts payable | 17/49 | €15,461 | €9,921 | -€5,540 | -35.8% |
| Amounts payable within one year | 42/48 | €15,461 | €9,921 | -€5,540 | -35.8% |
| Trade debts | 44 | €1,490 | €506 | -€984 | -66.0% |
| Suppliers | 440/4 | €1,490 | €506 | -€984 | -66.0% |
| Taxes, remuneration and social security | 45 | €6,269 | €6,815 | +€546 | +8.7% |
| Taxes | 450/3 | €6,269 | €6,815 | +€546 | +8.7% |
| Other amounts payable | 47/48 | €7,702 | €2,600 | -€5,102 | -66.2% |
| Remuneration, social security and pensions | 62 | €0 | €97 | +€97 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,912 | €13,577 | +€2,665 | +24.4% |
| Other operating charges | 640/8 | €1,563 | €632 | -€931 | -59.6% |
| Non-recurring operating charges | 66A | €240 | €12,918 | +€12,678 | +5275.3% |
| Gross operating margin | 9900 | €130,145 | €114,238 | -€15,907 | -12.2% |
| Operating profit (loss) | 9901 | €117,430 | €87,014 | -€30,416 | -25.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €65 | €203 | +€138 | +213.0% |
| Recurring financial charges | 65 | €65 | €203 | +€138 | +213.0% |
| Profit (loss) for the period before taxes | 9903 | €117,365 | €86,811 | -€30,554 | -26.0% |
| Income taxes | 67/77 | €36,724 | €28,439 | -€8,284 | -22.6% |
| Profit (loss) for the period | 9904 | €80,642 | €58,372 | -€22,270 | -27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,642 | €58,372 | -€22,270 | -27.6% |
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 8 October 2026 via checked.be.