BUDEDO: 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.
BUDEDO
Largest movements
- Tangible fixed assets +€99,621
up €99,621 (+22.4%), from €444,475 to €544,097
- Intangible fixed assets -€97,712
down €97,712 (-100.0%), from €97,712 to €0
- Receivables within one year -€26,018
down €26,018 (-22.1%), from €117,937 to €91,920
of which Other amounts receivable: -€25,155
- Debts after one year -€46,654
down €46,654 (-23.7%), from €197,221 to €150,567
- Financial income -€587,428
down €587,428 (-97.0%), from €605,548 to €18,120
of which Financial income: -€598,285
- Depreciation -€8,255
down €8,255 (-47.5%), from €17,393 to €9,137
- Gross operating margin +€7,526
up €7,526 (+7497.2%), from €100 to €7,626
- Taxes +€2,195
up €2,195, from -€1,036 to €1,159
- Other operating charges +€1,433
up €1,433 (+53.6%), from €2,674 to €4,107
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 | €1,832,115 | €1,792,720 | -€39,395 | -2.2% |
| Formation expenses | 20 | €380 | €190 | -€190 | -50.0% |
| Fixed assets | 21/28 | €542,437 | €544,347 | +€1,910 | +0.4% |
| Intangible fixed assets | 21 | €97,712 | €0 | -€97,712 | -100.0% |
| Tangible fixed assets | 22/27 | €444,475 | €544,097 | +€99,621 | +22.4% |
| Land and buildings | 22 | €444,475 | €544,097 | +€99,621 | +22.4% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,289,298 | €1,248,184 | -€41,114 | -3.2% |
| Amounts receivable within one year | 40/41 | €117,937 | €91,920 | -€26,018 | -22.1% |
| Trade receivables | 40 | €1,034 | €171 | -€863 | -83.5% |
| Other amounts receivable | 41 | €116,903 | €91,749 | -€25,155 | -21.5% |
| Current investments | 50/53 | €1,065,216 | €1,065,216 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €106,145 | €91,049 | -€15,097 | -14.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,832,115 | €1,792,720 | -€39,395 | -2.2% |
| Equity | 10/15 | €1,586,272 | €1,594,372 | +€8,101 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,050 | €2,050 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,050 | €2,050 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,050 | €2,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,565,622 | €1,573,722 | +€8,101 | +0.5% |
| Amounts payable | 17/49 | €245,843 | €198,348 | -€47,495 | -19.3% |
| Amounts payable after more than one year | 17 | €197,221 | €150,567 | -€46,654 | -23.7% |
| Financial debts | 170/4 | €197,221 | €150,567 | -€46,654 | -23.7% |
| Amounts payable within one year | 42/48 | €48,622 | €47,780 | -€841 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €48,622 | €46,654 | -€1,968 | -4.0% |
| Trade debts | 44 | - | €1,126 | +€1,126 | |
| Suppliers | 440/4 | - | €1,126 | +€1,126 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,393 | €9,137 | -€8,255 | -47.5% |
| Other operating charges | 640/8 | €2,674 | €4,107 | +€1,433 | +53.6% |
| Gross operating margin | 9900 | €100 | €7,626 | +€7,526 | +7497.2% |
| Operating profit (loss) | 9901 | -€19,966 | -€5,618 | +€14,348 | +71.9% |
| Financial income | 75/76B | €605,548 | €18,120 | -€587,428 | -97.0% |
| Recurring financial income | 75 | €605,548 | €7,263 | -€598,285 | -98.8% |
| Non-recurring financial income | 76B | - | €10,857 | +€10,857 | |
| Financial charges | 65/66B | €3,687 | €3,242 | -€444 | -12.0% |
| Recurring financial charges | 65 | €3,687 | €3,242 | -€444 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €581,895 | €9,259 | -€572,636 | -98.4% |
| Income taxes | 67/77 | -€1,036 | €1,159 | +€2,195 | |
| Profit (loss) for the period | 9904 | €582,931 | €8,101 | -€574,831 | -98.6% |
| Profit (loss) for the period to be appropriated | 9905 | €582,931 | €8,101 | -€574,831 | -98.6% |
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 30 September 2026 via checked.be.