BUDI: 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.
BUDI
Largest movements
- Receivables within one year +€104,705
up €104,705 (+546.9%), from €19,144 to €123,848
of which Trade receivables: +€111,168
- Cash -€39,226
down €39,226 (-78.4%), from €50,039 to €10,813
mainly Contributions, distributions and other (-€127,989) and Receivables within one year (-€104,705)
- Tangible fixed assets +€6,558
up €6,558 (+4.2%), from €154,435 to €160,993
of which Land and buildings: +€19,531
- Trade debts +€46,992
up €46,992 (+4001.8%), from €1,174 to €48,166
- Tax, wage and social debts +€26,336
up €26,336 (+200.9%), from €13,107 to €39,444
of which Taxes: +€20,336
- Other debts +€18,038
up €18,038 (+12.7%), from €141,946 to €159,984
- Debts after one year -€13,817
down €13,817 (-41.0%), from €33,665 to €19,848
- Reserves -€3,462
down €3,462 (-100.0%), from €3,462 to €0
- Gross operating margin +€129,730
up €129,730 (+188.3%), from €68,882 to €198,612
- Taxes +€33,795
up €33,795 (+237.0%), from €14,258 to €48,053
- Depreciation +€3,069
up €3,069 (+15.6%), from €19,717 to €22,786
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 | €228,012 | €299,859 | +€71,846 | +31.5% |
| Fixed assets | 21/28 | €155,435 | €161,993 | +€6,558 | +4.2% |
| Tangible fixed assets | 22/27 | €154,435 | €160,993 | +€6,558 | +4.2% |
| Land and buildings | 22 | €127,713 | €147,244 | +€19,531 | +15.3% |
| Furniture and vehicles | 24 | €25,387 | €12,594 | -€12,793 | -50.4% |
| Other tangible fixed assets | 26 | €1,335 | €1,155 | -€180 | -13.5% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €72,577 | €137,866 | +€65,288 | +90.0% |
| Amounts receivable within one year | 40/41 | €19,144 | €123,848 | +€104,705 | +546.9% |
| Trade receivables | 40 | €12,599 | €123,767 | +€111,168 | +882.4% |
| Other amounts receivable | 41 | €6,545 | €81 | -€6,464 | -98.8% |
| Cash at bank and in hand | 54/58 | €50,039 | €10,813 | -€39,226 | -78.4% |
| Deferred charges and accrued income | 490/1 | €3,395 | €3,205 | -€190 | -5.6% |
| Total equity and liabilities | 10/49 | €228,012 | €299,859 | +€71,846 | +31.5% |
| Equity | 10/15 | €22,062 | €18,600 | -€3,462 | -15.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,462 | €0 | -€3,462 | -100.0% |
| Distributable reserves | 133 | €3,462 | €0 | -€3,462 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €205,950 | €281,259 | +€75,308 | +36.6% |
| Amounts payable after more than one year | 17 | €33,665 | €19,848 | -€13,817 | -41.0% |
| Financial debts | 170/4 | €33,665 | €19,848 | -€13,817 | -41.0% |
| Amounts payable within one year | 42/48 | €169,887 | €261,411 | +€91,524 | +53.9% |
| Current portion of amounts payable after more than one year | 42 | €13,659 | €13,817 | +€158 | +1.2% |
| Trade debts | 44 | €1,174 | €48,166 | +€46,992 | +4001.8% |
| Suppliers | 440/4 | €1,174 | €48,166 | +€46,992 | +4001.8% |
| Taxes, remuneration and social security | 45 | €13,107 | €39,444 | +€26,336 | +200.9% |
| Taxes | 450/3 | €13,107 | €33,444 | +€20,336 | +155.1% |
| Remuneration and social security | 454/9 | - | €6,000 | +€6,000 | |
| Other amounts payable | 47/48 | €141,946 | €159,984 | +€18,038 | +12.7% |
| Accrued charges and deferred income | 492/3 | €2,399 | €0 | -€2,399 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,717 | €22,786 | +€3,069 | +15.6% |
| Other operating charges | 640/8 | €3,166 | €2,891 | -€275 | -8.7% |
| Gross operating margin | 9900 | €68,882 | €198,612 | +€129,730 | +188.3% |
| Operating profit (loss) | 9901 | €46,000 | €172,935 | +€126,935 | +275.9% |
| Financial income | 75/76B | €3 | €226 | +€224 | +8943.6% |
| Recurring financial income | 75 | €3 | €226 | +€224 | +8943.6% |
| Financial charges | 65/66B | €734 | €581 | -€152 | -20.8% |
| Recurring financial charges | 65 | €734 | €581 | -€152 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €45,268 | €172,580 | +€127,311 | +281.2% |
| Income taxes | 67/77 | €14,258 | €48,053 | +€33,795 | +237.0% |
| Profit (loss) for the period | 9904 | €31,010 | €124,527 | +€93,516 | +301.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,010 | €124,527 | +€93,516 | +301.6% |
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 5 October 2026 via checked.be.