BUGECO: 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.
What changed
BUGECO
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€72,120
2024 · €29,453+€42,667
Equity
€4.2m
2024 · €4.1m+€72,120
Cash
€7,487
2024 · €8,305-€819
Balance sheet total
€7.4m
2024 · €7.3m+€131,003
Largest movements
Assets
- Receivables within one year +€145,553
up €145,553 (+401%), from €36,320 to €181,873
of which Trade receivables: +€161,117
Equity and liabilities
- Other debts +€253,000
up €253,000 (+69.8%), from €362,500 to €615,500
- Trade debts -€200,303
down €200,303 (-52.0%), from €384,994 to €184,691
Income statement
- Other operating charges -€94,639
down €94,639 (-92.2%), from €102,608 to €7,969
- Gross operating margin -€66,104
down €66,104 (-28.4%), from €232,759 to €166,655
- Financial charges -€26,770
down €26,770 (-64.2%), from €41,679 to €14,909
- Taxes +€11,295
up €11,295 (+70.9%), from €15,940 to €27,234
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.
Result 2024
€29,453
Gross operating margin
-€66,104
Depreciation
-€1,344
Other operating charges
+€94,639
Financial income
+€0
Financial charges
+€26,770
Taxes
-€11,295
Result 2025
€72,120
raises the resultlowers the result
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.
From operations
+€47,925
Investment
-€31,681
Financing
-€17,063
Cash 2024
€8,305
From operations (derived)
+€47,925
Net result for the year
+€72,120
Depreciation
+€44,423
Receivables within one year
-€145,553
Deferred charges and accrued income
+€990
Trade debts
-€200,303
Tax, wage and social debts
+€12,482
Other debts
+€253,000
Accrued charges and deferred income
+€10,766
Investment (derived)
-€31,681
Investment in fixed assets (net)
-€31,681
Financing
-€17,063
Debts after one year
-€17,417
Current portion of long-term debt
+€355
Cash 2025
€7,487
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,291,668 | €7,422,671 | +€131,003 | +1.8% |
| Fixed assets | 21/28 | €7,243,904 | €7,231,162 | -€12,742 | -0.2% |
| Tangible fixed assets | 22/27 | €1,421,409 | €1,408,667 | -€12,742 | -0.9% |
| Land and buildings | 22 | €893,995 | €861,669 | -€32,325 | -3.6% |
| Plant, machinery and equipment | 23 | €20,795 | €18,657 | -€2,138 | -10.3% |
| Furniture and vehicles | 24 | €398,682 | €391,372 | -€7,309 | -1.8% |
| Assets under construction and advance payments | 27 | €107,938 | €136,970 | +€29,031 | +26.9% |
| Financial fixed assets | 28 | €5,822,495 | €5,822,495 | = | 0.0% |
| Current assets | 29/58 | €47,764 | €191,509 | +€143,744 | +301% |
| Amounts receivable within one year | 40/41 | €36,320 | €181,873 | +€145,553 | +401% |
| Trade receivables | 40 | - | €161,117 | +€161,117 | |
| Other amounts receivable | 41 | €36,320 | €20,756 | -€15,564 | -42.9% |
| Cash at bank and in hand | 54/58 | €8,305 | €7,487 | -€819 | -9.9% |
| Deferred charges and accrued income | 490/1 | €3,139 | €2,149 | -€990 | -31.5% |
| Total equity and liabilities | 10/49 | €7,291,668 | €7,422,671 | +€131,003 | +1.8% |
| Equity | 10/15 | €4,127,425 | €4,199,545 | +€72,120 | +1.7% |
| Contributions | 10/11 | €4,808,785 | €4,808,785 | = | 0.0% |
| Capital | 10 | €4,808,785 | €4,808,785 | = | 0.0% |
| Issued capital | 100 | €4,933,934 | €4,933,934 | = | 0.0% |
| Uncalled capital | 101 | €125,149 | €125,149 | = | 0.0% |
| Reserves | 13 | €174,700 | €174,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €174,700 | €174,700 | = | 0.0% |
| Legal reserve | 130 | €174,700 | €174,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€856,061 | -€783,940 | +€72,120 | +8.4% |
| Amounts payable | 17/49 | €3,164,244 | €3,223,126 | +€58,882 | +1.9% |
| Amounts payable after more than one year | 17 | €160,115 | €142,698 | -€17,417 | -10.9% |
| Financial debts | 170/4 | €160,115 | €142,698 | -€17,417 | -10.9% |
| Amounts payable within one year | 42/48 | €780,496 | €846,030 | +€65,534 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €17,063 | €17,417 | +€355 | +2.1% |
| Trade debts | 44 | €384,994 | €184,691 | -€200,303 | -52.0% |
| Suppliers | 440/4 | €384,994 | €184,691 | -€200,303 | -52.0% |
| Taxes, remuneration and social security | 45 | €15,940 | €28,422 | +€12,482 | +78.3% |
| Taxes | 450/3 | €15,940 | €28,422 | +€12,482 | +78.3% |
| Other amounts payable | 47/48 | €362,500 | €615,500 | +€253,000 | +69.8% |
| Accrued charges and deferred income | 492/3 | €2,223,633 | €2,234,398 | +€10,766 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,079 | €44,423 | +€1,344 | +3.1% |
| Other operating charges | 640/8 | €102,608 | €7,969 | -€94,639 | -92.2% |
| Gross operating margin | 9900 | €232,759 | €166,655 | -€66,104 | -28.4% |
| Operating profit (loss) | 9901 | €87,072 | €114,263 | +€27,191 | +31.2% |
| Financial income | 75/76B | €0 | €1 | +€0 | +81.1% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +81.1% |
| Financial charges | 65/66B | €41,679 | €14,909 | -€26,770 | -64.2% |
| Recurring financial charges | 65 | €41,679 | €14,909 | -€26,770 | -64.2% |
| Profit (loss) for the period before taxes | 9903 | €45,393 | €99,355 | +€53,962 | +119% |
| Income taxes | 67/77 | €15,940 | €27,234 | +€11,295 | +70.9% |
| Profit (loss) for the period | 9904 | €29,453 | €72,120 | +€42,667 | +145% |
| Profit (loss) for the period to be appropriated | 9905 | €29,453 | €72,120 | +€42,667 | +145% |
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.