BUDEL HOLDING: 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.
BUDEL HOLDING
Largest movements
- Cash -€78,608
down €78,608 (-96.8%), from €81,208 to €2,600
mainly Debts after one year (-€83,728) and Deferred charges and accrued income (-€65,000)
- Deferred charges and accrued income +€65,000
new in 2025: €65,000
- Reserves +€87,613
up €87,613 (+63.6%), from €137,835 to €225,447
- Debts after one year -€83,728
down €83,728 (-9.0%), from €926,846 to €843,118
of which Financial debts: -€63,728
- Other debts -€36,650
down €36,650 (-86.9%), from €42,161 to €5,512
- Financial income -€35,000
down €35,000 (-35.0%), from €100,000 to €65,000
- Gross operating margin -€33,976
down €33,976 (-36.1%), from €94,120 to €60,143
- Financial charges -€14,750
down €14,750 (-33.1%), from €44,563 to €29,813
- Taxes -€3,582
down €3,582 (-32.9%), from €10,900 to €7,318
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 | €1,206,839 | €1,181,670 | -€25,169 | -2.1% |
| Fixed assets | 21/28 | €1,003,000 | €1,003,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,003,000 | €1,003,000 | = | 0.0% |
| Current assets | 29/58 | €203,839 | €178,670 | -€25,169 | -12.3% |
| Amounts receivable within one year | 40/41 | €122,631 | €111,070 | -€11,561 | -9.4% |
| Trade receivables | 40 | €122,631 | €24,801 | -€97,830 | -79.8% |
| Other amounts receivable | 41 | - | €86,269 | +€86,269 | |
| Cash at bank and in hand | 54/58 | €81,208 | €2,600 | -€78,608 | -96.8% |
| Deferred charges and accrued income | 490/1 | - | €65,000 | +€65,000 | |
| Total equity and liabilities | 10/49 | €1,206,839 | €1,181,670 | -€25,169 | -2.1% |
| Equity | 10/15 | €142,835 | €230,447 | +€87,613 | +61.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €137,835 | €225,447 | +€87,613 | +63.6% |
| Distributable reserves | 133 | €137,835 | €225,447 | +€87,613 | +63.6% |
| Amounts payable | 17/49 | €1,064,004 | €951,223 | -€112,782 | -10.6% |
| Amounts payable after more than one year | 17 | €926,846 | €843,118 | -€83,728 | -9.0% |
| Financial debts | 170/4 | €760,513 | €696,785 | -€63,728 | -8.4% |
| Other amounts payable | 178/9 | €166,333 | €146,333 | -€20,000 | -12.0% |
| Amounts payable within one year | 42/48 | €137,158 | €108,105 | -€29,053 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €73,154 | €83,728 | +€10,575 | +14.5% |
| Trade debts | 44 | €38 | €39 | +€1 | +2.3% |
| Suppliers | 440/4 | €38 | €39 | +€1 | +2.3% |
| Taxes, remuneration and social security | 45 | €21,805 | €18,826 | -€2,979 | -13.7% |
| Taxes | 450/3 | €21,805 | €18,826 | -€2,979 | -13.7% |
| Other amounts payable | 47/48 | €42,161 | €5,512 | -€36,650 | -86.9% |
| Other operating charges | 640/8 | €822 | €400 | -€422 | -51.4% |
| Gross operating margin | 9900 | €94,120 | €60,143 | -€33,976 | -36.1% |
| Operating profit (loss) | 9901 | €93,298 | €59,744 | -€33,554 | -36.0% |
| Financial income | 75/76B | €100,000 | €65,000 | -€35,000 | -35.0% |
| Recurring financial income | 75 | €100,000 | €65,000 | -€35,000 | -35.0% |
| Financial charges | 65/66B | €44,563 | €29,813 | -€14,750 | -33.1% |
| Recurring financial charges | 65 | €44,563 | €29,813 | -€14,750 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €148,735 | €94,931 | -€53,804 | -36.2% |
| Income taxes | 67/77 | €10,900 | €7,318 | -€3,582 | -32.9% |
| Profit (loss) for the period | 9904 | €137,835 | €87,613 | -€50,222 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €137,835 | €87,613 | -€50,222 | -36.4% |
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 21 October 2026 via checked.be.