BUGESIM: 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.
BUGESIM
Largest movements
- Cash +€30,783
up €30,783 (+113.1%), from €27,209 to €57,992
mainly Net result for the year (+€25,679) and Depreciation (+€7,495)
- Receivables within one year -€5,850
no longer reported in 2025 (was €5,850)
- Tangible fixed assets +€2,050
up €2,050 (+11.9%), from €17,286 to €19,335
- Profit (loss) carried forward +€24,013
up €24,013 (+162.2%), from €14,807 to €38,820
- Debts after one year +€6,478
up €6,478 (+192.2%), from €3,370 to €9,847
- Current portion of long-term debt -€3,586
down €3,586 (-55.7%), from €6,443 to €2,857
- Other debts -€2,739
down €2,739 (-48.0%), from €5,705 to €2,966
- Tax, wage and social debts +€2,377
up €2,377 (+14.5%), from €16,448 to €18,825
of which Taxes: +€4,049
- Gross operating margin +€14,795
up €14,795 (+40.8%), from €36,265 to €51,059
- Staff costs -€5,696
down €5,696 (-49.1%), from €11,611 to €5,915
- Taxes +€4,422
up €4,422 (+102.7%), from €4,306 to €8,729
- Other operating charges +€1,058
up €1,058 (+101.0%), from €1,047 to €2,105
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 | €52,164 | €78,896 | +€26,732 | +51.2% |
| Fixed assets | 21/28 | €17,286 | €19,335 | +€2,050 | +11.9% |
| Tangible fixed assets | 22/27 | €17,286 | €19,335 | +€2,050 | +11.9% |
| Furniture and vehicles | 24 | €17,286 | €19,335 | +€2,050 | +11.9% |
| Current assets | 29/58 | €34,879 | €59,561 | +€24,682 | +70.8% |
| Amounts receivable within one year | 40/41 | €5,850 | - | -€5,850 | |
| Trade receivables | 40 | €5,850 | - | -€5,850 | |
| Cash at bank and in hand | 54/58 | €27,209 | €57,992 | +€30,783 | +113.1% |
| Deferred charges and accrued income | 490/1 | €1,820 | €1,569 | -€251 | -13.8% |
| Total equity and liabilities | 10/49 | €52,164 | €78,896 | +€26,732 | +51.2% |
| Equity | 10/15 | €19,807 | €43,820 | +€24,013 | +121.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,807 | €38,820 | +€24,013 | +162.2% |
| Amounts payable | 17/49 | €32,357 | €35,076 | +€2,719 | +8.4% |
| Amounts payable after more than one year | 17 | €3,370 | €9,847 | +€6,478 | +192.2% |
| Financial debts | 170/4 | €3,370 | €9,847 | +€6,478 | +192.2% |
| Amounts payable within one year | 42/48 | €28,987 | €25,229 | -€3,759 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €6,443 | €2,857 | -€3,586 | -55.7% |
| Trade debts | 44 | €391 | €580 | +€189 | +48.5% |
| Suppliers | 440/4 | €391 | €580 | +€189 | +48.5% |
| Taxes, remuneration and social security | 45 | €16,448 | €18,825 | +€2,377 | +14.5% |
| Taxes | 450/3 | €14,777 | €18,825 | +€4,049 | +27.4% |
| Remuneration and social security | 454/9 | €1,672 | - | -€1,672 | |
| Other amounts payable | 47/48 | €5,705 | €2,966 | -€2,739 | -48.0% |
| Remuneration, social security and pensions | 62 | €11,611 | €5,915 | -€5,696 | -49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,626 | €7,495 | -€131 | -1.7% |
| Other operating charges | 640/8 | €1,047 | €2,105 | +€1,058 | +101.0% |
| Gross operating margin | 9900 | €36,265 | €51,059 | +€14,795 | +40.8% |
| Operating profit (loss) | 9901 | €15,980 | €35,545 | +€19,565 | +122.4% |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €840 | €1,145 | +€305 | +36.3% |
| Recurring financial charges | 65 | €840 | €1,145 | +€305 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €15,140 | €34,408 | +€19,267 | +127.3% |
| Income taxes | 67/77 | €4,306 | €8,729 | +€4,422 | +102.7% |
| Profit (loss) for the period | 9904 | €10,834 | €25,679 | +€14,845 | +137.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,834 | €25,679 | +€14,845 | +137.0% |
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 7 October 2026 via checked.be.