Budarex: 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.
Budarex
Largest movements
- Receivables within one year +€18,473
up €18,473 (+424%), from €4,357 to €22,830
of which Trade receivables: +€17,432
- Tangible fixed assets -€17,915
down €17,915 (-36.4%), from €49,150 to €31,235
- Cash -€6,292
down €6,292 (-34.6%), from €18,199 to €11,907
mainly Receivables within one year (-€18,473) and Current portion of long-term debt (-€6,145)
- Deferred charges and accrued income +€1,165
new in 2025: €1,165
- Trade debts +€8,298
up €8,298 (+144%), from €5,759 to €14,056
- Current portion of long-term debt -€6,145
down €6,145 (-91.4%), from €6,720 to €575
- Tax, wage and social debts -€2,996
down €2,996 (-24.7%), from €12,111 to €9,115
of which Taxes: -€4,496
- Profit (loss) carried forward -€2,490
down €2,490 (-11.5%), from €21,587 to €19,097
- Gross operating margin -€16,680
down €16,680 (-42.4%), from €39,313 to €22,633
- Depreciation +€6,292
up €6,292 (+46.5%), from €13,525 to €19,817
- Other operating charges -€1,736
down €1,736 (-32.5%), from €5,341 to €3,606
- Taxes -€831
down €831 (-41.1%), from €2,020 to €1,190
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 | €71,706 | €67,137 | -€4,569 | -6.4% |
| Fixed assets | 21/28 | €49,150 | €31,235 | -€17,915 | -36.4% |
| Tangible fixed assets | 22/27 | €49,150 | €31,235 | -€17,915 | -36.4% |
| Furniture and vehicles | 24 | €49,150 | €31,235 | -€17,915 | -36.4% |
| Current assets | 29/58 | €22,556 | €35,901 | +€13,346 | +59.2% |
| Amounts receivable within one year | 40/41 | €4,357 | €22,830 | +€18,473 | +424% |
| Trade receivables | 40 | €3,517 | €20,949 | +€17,432 | +496% |
| Other amounts receivable | 41 | €840 | €1,880 | +€1,040 | +124% |
| Cash at bank and in hand | 54/58 | €18,199 | €11,907 | -€6,292 | -34.6% |
| Deferred charges and accrued income | 490/1 | - | €1,165 | +€1,165 | |
| Total equity and liabilities | 10/49 | €71,706 | €67,137 | -€4,569 | -6.4% |
| Equity | 10/15 | €42,047 | €39,557 | -€2,490 | -5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,587 | €19,097 | -€2,490 | -11.5% |
| Amounts payable | 17/49 | €29,659 | €27,580 | -€2,079 | -7.0% |
| Amounts payable after more than one year | 17 | €575 | - | -€575 | |
| Financial debts | 170/4 | €575 | - | -€575 | |
| Amounts payable within one year | 42/48 | €29,084 | €27,580 | -€1,504 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €6,720 | €575 | -€6,145 | -91.4% |
| Trade debts | 44 | €5,759 | €14,056 | +€8,298 | +144% |
| Suppliers | 440/4 | €5,759 | €14,056 | +€8,298 | +144% |
| Taxes, remuneration and social security | 45 | €12,111 | €9,115 | -€2,996 | -24.7% |
| Taxes | 450/3 | €6,411 | €1,915 | -€4,496 | -70.1% |
| Remuneration and social security | 454/9 | €5,700 | €7,200 | +€1,500 | +26.3% |
| Other amounts payable | 47/48 | €4,494 | €3,834 | -€660 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,525 | €19,817 | +€6,292 | +46.5% |
| Other operating charges | 640/8 | €5,341 | €3,606 | -€1,736 | -32.5% |
| Gross operating margin | 9900 | €39,313 | €22,633 | -€16,680 | -42.4% |
| Operating profit (loss) | 9901 | €20,447 | -€790 | -€21,237 | |
| Financial income | 75/76B | €674 | €325 | -€349 | -51.8% |
| Recurring financial income | 75 | €674 | €325 | -€349 | -51.8% |
| Financial charges | 65/66B | €990 | €835 | -€154 | -15.6% |
| Recurring financial charges | 65 | €990 | €835 | -€154 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €20,131 | -€1,301 | -€21,431 | |
| Income taxes | 67/77 | €2,020 | €1,190 | -€831 | -41.1% |
| Profit (loss) for the period | 9904 | €18,111 | -€2,490 | -€20,601 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,111 | -€2,490 | -€20,601 |
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 14 October 2026 via checked.be.