BUNDELING BELGIUM: 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.
BUNDELING BELGIUM
Largest movements
- Receivables within one year +€126,456
up €126,456 (+66.9%), from €188,911 to €315,367
of which Other amounts receivable: +€161,898
- Cash +€10,677
up €10,677 (+60.0%), from €17,785 to €28,462
mainly Trade debts (+€129,841) and Net result for the year (+€10,809)
- Trade debts +€129,841
up €129,841 (+88.3%), from €146,962 to €276,803
- Reserves +€10,809
up €10,809 (+35.2%), from €30,681 to €41,489
- Staff costs -€164,968
down €164,968 (-99.7%), from €165,519 to €550
- Gross operating margin -€158,414
down €158,414 (-79.2%), from €200,121 to €41,707
- Write-downs +€24,461
new in 2025: €24,461
- Taxes -€5,374
down €5,374 (-57.2%), from €9,390 to €4,016
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 | €208,493 | €349,079 | +€140,586 | +67.4% |
| Current assets | 29/58 | €208,493 | €349,079 | +€140,586 | +67.4% |
| Amounts receivable within one year | 40/41 | €188,911 | €315,367 | +€126,456 | +66.9% |
| Trade receivables | 40 | €166,864 | €131,422 | -€35,442 | -21.2% |
| Other amounts receivable | 41 | €22,047 | €183,945 | +€161,898 | +734% |
| Cash at bank and in hand | 54/58 | €17,785 | €28,462 | +€10,677 | +60.0% |
| Deferred charges and accrued income | 490/1 | €1,796 | €5,250 | +€3,454 | +192% |
| Total equity and liabilities | 10/49 | €208,493 | €349,079 | +€140,586 | +67.4% |
| Equity | 10/15 | €40,681 | €51,489 | +€10,809 | +26.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €30,681 | €41,489 | +€10,809 | +35.2% |
| Distributable reserves | 133 | €30,681 | €41,489 | +€10,809 | +35.2% |
| Amounts payable | 17/49 | €167,812 | €297,590 | +€129,778 | +77.3% |
| Amounts payable within one year | 42/48 | €161,610 | €292,308 | +€130,698 | +80.9% |
| Trade debts | 44 | €146,962 | €276,803 | +€129,841 | +88.3% |
| Suppliers | 440/4 | €146,962 | €276,803 | +€129,841 | +88.3% |
| Taxes, remuneration and social security | 45 | €14,648 | €15,505 | +€857 | +5.9% |
| Taxes | 450/3 | €14,648 | €15,505 | +€857 | +5.9% |
| Accrued charges and deferred income | 492/3 | €6,202 | €5,282 | -€920 | -14.8% |
| Non-recurring operating income | 76A | - | €3,418 | +€3,418 | |
| Remuneration, social security and pensions | 62 | €165,519 | €550 | -€164,968 | -99.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €24,461 | +€24,461 | |
| Other operating charges | 640/8 | €621 | €659 | +€37 | +6.0% |
| Gross operating margin | 9900 | €200,121 | €41,707 | -€158,414 | -79.2% |
| Operating profit (loss) | 9901 | €33,981 | €16,037 | -€17,944 | -52.8% |
| Financial income | 75/76B | €267 | €0 | -€267 | -100% |
| Recurring financial income | 75 | €267 | €0 | -€267 | -100% |
| Financial charges | 65/66B | €1,539 | €1,213 | -€326 | -21.2% |
| Recurring financial charges | 65 | €1,539 | €1,213 | -€326 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €32,710 | €14,825 | -€17,885 | -54.7% |
| Income taxes | 67/77 | €9,390 | €4,016 | -€5,374 | -57.2% |
| Profit (loss) for the period | 9904 | €23,319 | €10,809 | -€12,511 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,319 | €10,809 | -€12,511 | -53.6% |
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.