BUDAK: 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.
BUDAK
Largest movements
- Cash +€32,103
up €32,103 (+99.7%), from €32,197 to €64,300
mainly Net result for the year (+€47,446) and Tax, wage and social debts (+€22,274)
- Receivables within one year +€28,121
up €28,121 (+2796.1%), from €1,006 to €29,127
of which Other amounts receivable: +€25,456
- Tangible fixed assets +€3,847
up €3,847 (+9.6%), from €40,057 to €43,904
of which Furniture and vehicles: +€10,145
- Reserves +€47,446
up €47,446 (+401.8%), from €11,809 to €59,255
- Tax, wage and social debts +€22,274
up €22,274 (+288.8%), from €7,713 to €29,987
of which Taxes: +€24,620
- Debts after one year -€16,736
down €16,736 (-51.3%), from €32,627 to €15,891
- Profit (loss) carried forward +€9,900
up €9,900, from -€3,142 to €6,758
- Other debts -€2,394
no longer reported in 2025 (was €2,394)
- Gross operating margin +€77,160
up €77,160 (+286.3%), from €26,952 to €104,112
- Taxes +€21,280
up €21,280 (+643.7%), from €3,306 to €24,586
- Staff costs +€12,422
up €12,422 (+827.9%), from €1,501 to €13,923
- Other operating charges +€1,773
up €1,773 (+141.7%), from €1,252 to €3,024
- Depreciation +€1,184
up €1,184 (+13.3%), from €8,878 to €10,062
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 | €82,180 | €145,574 | +€63,394 | +77.1% |
| Fixed assets | 21/28 | €44,557 | €48,404 | +€3,847 | +8.6% |
| Tangible fixed assets | 22/27 | €40,057 | €43,904 | +€3,847 | +9.6% |
| Land and buildings | 22 | €16,187 | €14,930 | -€1,257 | -7.8% |
| Plant, machinery and equipment | 23 | €18,045 | €14,570 | -€3,475 | -19.3% |
| Furniture and vehicles | 24 | - | €10,145 | +€10,145 | |
| Leasing and similar rights | 25 | €5,825 | €4,260 | -€1,565 | -26.9% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €37,623 | €97,170 | +€59,547 | +158.3% |
| Stocks and contracts in progress | 3 | €3,402 | €3,582 | +€180 | +5.3% |
| Stocks | 30/36 | €3,402 | €3,582 | +€180 | +5.3% |
| Amounts receivable within one year | 40/41 | €1,006 | €29,127 | +€28,121 | +2796.1% |
| Trade receivables | 40 | - | €2,665 | +€2,665 | |
| Other amounts receivable | 41 | €1,006 | €26,462 | +€25,456 | +2531.2% |
| Cash at bank and in hand | 54/58 | €32,197 | €64,300 | +€32,103 | +99.7% |
| Deferred charges and accrued income | 490/1 | €1,018 | €161 | -€857 | -84.1% |
| Total equity and liabilities | 10/49 | €82,180 | €145,574 | +€63,394 | +77.1% |
| Equity | 10/15 | €13,667 | €71,013 | +€57,346 | +419.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €11,809 | €59,255 | +€47,446 | +401.8% |
| Distributable reserves | 133 | €11,809 | €59,255 | +€47,446 | +401.8% |
| Profit (loss) carried forward | 14 | -€3,142 | €6,758 | +€9,900 | |
| Amounts payable | 17/49 | €68,513 | €74,561 | +€6,048 | +8.8% |
| Amounts payable after more than one year | 17 | €32,627 | €15,891 | -€16,736 | -51.3% |
| Financial debts | 170/4 | €32,627 | €15,891 | -€16,736 | -51.3% |
| Amounts payable within one year | 42/48 | €35,887 | €58,671 | +€22,784 | +63.5% |
| Current portion of amounts payable after more than one year | 42 | €15,232 | €16,736 | +€1,504 | +9.9% |
| Trade debts | 44 | €10,548 | €11,948 | +€1,400 | +13.3% |
| Suppliers | 440/4 | €10,548 | €11,948 | +€1,400 | +13.3% |
| Taxes, remuneration and social security | 45 | €7,713 | €29,987 | +€22,274 | +288.8% |
| Taxes | 450/3 | €3,906 | €28,526 | +€24,620 | +630.3% |
| Remuneration and social security | 454/9 | €3,807 | €1,461 | -€2,346 | -61.6% |
| Other amounts payable | 47/48 | €2,394 | - | -€2,394 | |
| Non-recurring operating income | 76A | - | €31,465 | +€31,465 | |
| Remuneration, social security and pensions | 62 | €1,501 | €13,923 | +€12,422 | +827.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,878 | €10,062 | +€1,184 | +13.3% |
| Other operating charges | 640/8 | €1,252 | €3,024 | +€1,773 | +141.7% |
| Gross operating margin | 9900 | €26,952 | €104,112 | +€77,160 | +286.3% |
| Operating profit (loss) | 9901 | €15,322 | €77,102 | +€61,781 | +403.2% |
| Financial income | 75/76B | €17 | €1,084 | +€1,068 | +6400.2% |
| Recurring financial income | 75 | €17 | €1,084 | +€1,068 | +6400.2% |
| Financial charges | 65/66B | €5,915 | €6,155 | +€241 | +4.1% |
| Recurring financial charges | 65 | €5,915 | €6,155 | +€241 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €9,424 | €72,032 | +€62,608 | +664.3% |
| Income taxes | 67/77 | €3,306 | €24,586 | +€21,280 | +643.7% |
| Profit (loss) for the period | 9904 | €6,118 | €47,446 | +€41,328 | +675.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,118 | €47,446 | +€41,328 | +675.5% |
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 9 October 2026 via checked.be.