BUNCH: 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.
BUNCH
Largest movements
- Stocks and contracts +€49,971
up €49,971 (+61.4%), from €81,341 to €131,312
- Tangible fixed assets -€34,437
down €34,437 (-5.0%), from €691,786 to €657,349
of which Plant, machinery and equipment: -€56,563
- Receivables within one year +€31,135
up €31,135 (+23.4%), from €133,151 to €164,286
of which Other amounts receivable: +€17,428
- Intangible fixed assets +€28,036
up €28,036 (+486.2%), from €5,766 to €33,802
- Cash -€15,232
down €15,232 (-70.6%), from €21,585 to €6,353
mainly Investment in fixed assets (net) (-€136,029) and Stocks and contracts (-€49,971)
- Short-term financial debts +€41,112
new in 2025: €41,112
- Other debts -€30,000
no longer reported in 2025 (was €30,000)
- Tax, wage and social debts +€28,957
up €28,957 (+37.9%), from €76,367 to €105,324
of which Remuneration and social security: +€23,227
- Profit (loss) carried forward +€28,722
up €28,722 (+24.5%), from €117,433 to €146,155
- Trade debts -€25,686
down €25,686 (-11.1%), from €230,924 to €205,238
- Gross operating margin +€584,953
up €584,953 (+61.4%), from €952,727 to €1.5m
- Staff costs +€520,672
up €520,672 (+65.7%), from €792,940 to €1.3m
- Depreciation +€45,310
up €45,310 (+46.7%), from €97,120 to €142,430
- Financial charges +€20,295
up €20,295 (+114.2%), from €17,768 to €38,063
of which Financial charges: +€17,045
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 | €948,839 | €1,009,355 | +€60,515 | +6.4% |
| Fixed assets | 21/28 | €708,697 | €702,296 | -€6,401 | -0.9% |
| Intangible fixed assets | 21 | €5,766 | €33,802 | +€28,036 | +486.2% |
| Tangible fixed assets | 22/27 | €691,786 | €657,349 | -€34,437 | -5.0% |
| Plant, machinery and equipment | 23 | €592,931 | €536,368 | -€56,563 | -9.5% |
| Furniture and vehicles | 24 | €98,855 | €120,981 | +€22,126 | +22.4% |
| Financial fixed assets | 28 | €11,145 | €11,145 | = | 0.0% |
| Current assets | 29/58 | €240,142 | €307,059 | +€66,917 | +27.9% |
| Stocks and contracts in progress | 3 | €81,341 | €131,312 | +€49,971 | +61.4% |
| Stocks | 30/36 | €81,341 | €131,312 | +€49,971 | +61.4% |
| Amounts receivable within one year | 40/41 | €133,151 | €164,286 | +€31,135 | +23.4% |
| Trade receivables | 40 | €117,896 | €131,603 | +€13,707 | +11.6% |
| Other amounts receivable | 41 | €15,255 | €32,682 | +€17,428 | +114.2% |
| Cash at bank and in hand | 54/58 | €21,585 | €6,353 | -€15,232 | -70.6% |
| Deferred charges and accrued income | 490/1 | €4,066 | €5,108 | +€1,042 | +25.6% |
| Total equity and liabilities | 10/49 | €948,839 | €1,009,355 | +€60,515 | +6.4% |
| Equity | 10/15 | €129,833 | €158,555 | +€28,722 | +22.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,433 | €146,155 | +€28,722 | +24.5% |
| Amounts payable | 17/49 | €819,006 | €850,799 | +€31,793 | +3.9% |
| Amounts payable after more than one year | 17 | €411,813 | €421,958 | +€10,145 | +2.5% |
| Financial debts | 170/4 | €411,813 | €421,958 | +€10,145 | +2.5% |
| Amounts payable within one year | 42/48 | €404,441 | €428,817 | +€24,375 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €67,151 | €77,143 | +€9,992 | +14.9% |
| Financial debts | 43 | - | €41,112 | +€41,112 | |
| Credit institutions | 430/8 | - | €41,112 | +€41,112 | |
| Trade debts | 44 | €230,924 | €205,238 | -€25,686 | -11.1% |
| Suppliers | 440/4 | €230,924 | €205,238 | -€25,686 | -11.1% |
| Taxes, remuneration and social security | 45 | €76,367 | €105,324 | +€28,957 | +37.9% |
| Taxes | 450/3 | €859 | €6,589 | +€5,730 | +667.2% |
| Remuneration and social security | 454/9 | €75,508 | €98,735 | +€23,227 | +30.8% |
| Other amounts payable | 47/48 | €30,000 | - | -€30,000 | |
| Accrued charges and deferred income | 492/3 | €2,752 | €24 | -€2,727 | -99.1% |
| Non-recurring operating income | 76A | €6,957 | - | -€6,957 | |
| Remuneration, social security and pensions | 62 | €792,940 | €1,313,612 | +€520,672 | +65.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,120 | €142,430 | +€45,310 | +46.7% |
| Other operating charges | 640/8 | €668 | €2,417 | +€1,749 | +261.7% |
| Non-recurring operating charges | 66A | €4,875 | - | -€4,875 | |
| Gross operating margin | 9900 | €952,727 | €1,537,680 | +€584,953 | +61.4% |
| Operating profit (loss) | 9901 | €57,124 | €79,220 | +€22,097 | +38.7% |
| Financial income | 75/76B | €1,217 | €327 | -€890 | -73.1% |
| Recurring financial income | 75 | €1,217 | €327 | -€890 | -73.1% |
| Financial charges | 65/66B | €17,768 | €38,063 | +€20,295 | +114.2% |
| Recurring financial charges | 65 | €17,768 | €34,813 | +€17,045 | +95.9% |
| Non-recurring financial charges | 66B | - | €3,250 | +€3,250 | |
| Profit (loss) for the period before taxes | 9903 | €40,573 | €41,484 | +€911 | +2.2% |
| Income taxes | 67/77 | €7,945 | €12,762 | +€4,817 | +60.6% |
| Profit (loss) for the period | 9904 | €32,628 | €28,722 | -€3,906 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,628 | €28,722 | -€3,906 | -12.0% |
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 2 October 2026 via checked.be.