BUNDER: 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.
BUNDER
Largest movements
- Cash -€124,219
down €124,219 (-37.4%), from €332,538 to €208,319
mainly Tax, wage and social debts (-€81,485) and Receivables within one year (-€25,620)
- Receivables within one year +€25,620
up €25,620 (+38.3%), from €66,842 to €92,462
- Tangible fixed assets -€9,910
down €9,910 (-4.8%), from €204,970 to €195,060
of which Furniture and vehicles: -€7,333
- Tax, wage and social debts -€81,485
down €81,485 (-100%), from €81,485 to €0
- Profit (loss) carried forward -€24,624
down €24,624, from €0 to -€24,624
- Taxes -€81,452
down €81,452 (-99.4%), from €81,942 to €490
- Gross operating margin -€10,707
down €10,707, from €8,898 to -€1,809
- Financial income +€1,944
up €1,944 (+43.5%), from €4,466 to €6,410
- Depreciation +€1,180
up €1,180 (+6.0%), from €19,665 to €20,845
- Other operating charges +€866
up €866 (+12.3%), from €7,024 to €7,889
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 | €609,527 | €502,350 | -€107,177 | -17.6% |
| Fixed assets | 21/28 | €204,970 | €195,060 | -€9,910 | -4.8% |
| Tangible fixed assets | 22/27 | €204,970 | €195,060 | -€9,910 | -4.8% |
| Land and buildings | 22 | €150,057 | €155,456 | +€5,399 | +3.6% |
| Plant, machinery and equipment | 23 | €2,287 | €1,449 | -€838 | -36.7% |
| Furniture and vehicles | 24 | €8,217 | €884 | -€7,333 | -89.2% |
| Other tangible fixed assets | 26 | €44,408 | €37,271 | -€7,137 | -16.1% |
| Current assets | 29/58 | €404,558 | €307,290 | -€97,267 | -24.0% |
| Amounts receivable within one year | 40/41 | €66,842 | €92,462 | +€25,620 | +38.3% |
| Other amounts receivable | 41 | €66,842 | €92,462 | +€25,620 | +38.3% |
| Cash at bank and in hand | 54/58 | €332,538 | €208,319 | -€124,219 | -37.4% |
| Deferred charges and accrued income | 490/1 | €5,178 | €6,510 | +€1,332 | +25.7% |
| Total equity and liabilities | 10/49 | €609,527 | €502,350 | -€107,177 | -17.6% |
| Equity | 10/15 | €526,376 | €501,752 | -€24,624 | -4.7% |
| Contributions | 10/11 | €379,674 | €379,674 | = | 0.0% |
| Capital | 10 | €379,674 | €379,674 | = | 0.0% |
| Issued capital | 100 | €379,674 | €379,674 | = | 0.0% |
| Reserves | 13 | €146,702 | €146,702 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,967 | €37,967 | = | 0.0% |
| Legal reserve | 130 | €37,967 | €37,967 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €108,735 | €108,735 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€24,624 | -€24,624 | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €83,151 | €598 | -€82,553 | -99.3% |
| Amounts payable within one year | 42/48 | €81,705 | €322 | -€81,383 | -99.6% |
| Trade debts | 44 | €220 | €322 | +€102 | +46.3% |
| Suppliers | 440/4 | €220 | €322 | +€102 | +46.3% |
| Taxes, remuneration and social security | 45 | €81,485 | €0 | -€81,485 | -100% |
| Taxes | 450/3 | €81,485 | €0 | -€81,485 | -100% |
| Accrued charges and deferred income | 492/3 | €1,446 | €276 | -€1,170 | -80.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,665 | €20,845 | +€1,180 | +6.0% |
| Other operating charges | 640/8 | €7,024 | €7,889 | +€866 | +12.3% |
| Gross operating margin | 9900 | €8,898 | -€1,809 | -€10,707 | |
| Operating profit (loss) | 9901 | -€17,791 | -€30,543 | -€12,752 | -71.7% |
| Financial income | 75/76B | €4,466 | €6,410 | +€1,944 | +43.5% |
| Recurring financial income | 75 | €4,466 | €6,410 | +€1,944 | +43.5% |
| Financial charges | 65/66B | €472 | €1 | -€471 | -99.8% |
| Recurring financial charges | 65 | €472 | €1 | -€471 | -99.8% |
| Profit (loss) for the period before taxes | 9903 | -€13,797 | -€24,134 | -€10,337 | -74.9% |
| Transfer from deferred taxes | 780 | €91,067 | €0 | -€91,067 | -100% |
| Income taxes | 67/77 | €81,942 | €490 | -€81,452 | -99.4% |
| Profit (loss) for the period | 9904 | -€4,671 | -€24,624 | -€19,952 | -427% |
| Transfer from tax-exempt reserves | 789 | €273,201 | €0 | -€273,201 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €268,529 | -€24,624 | -€293,153 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.