BUNDL HOLDING: what changed
What changed
BUNDL HOLDING
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€7,140
2025 · €11,444-€4,304
Equity
€327,300
2025 · €320,160+€7,140
Cash
€6,462
2025 · €7,495-€1,033
Balance sheet total
€336,867
2025 · €328,526+€8,341
Largest movements
Assets
- Receivables within one year +€21,938
up €21,938 (+196%), from €11,185 to €33,123
of which Trade receivables: +€22,688
- Tangible fixed assets -€12,564
down €12,564 (-28.0%), from €44,820 to €32,257
Equity and liabilities
- Reserves +€10,000
up €10,000 (+34.9%), from €28,652 to €38,652
of which Distributable reserves: +€10,000
Income statement
- Gross operating margin -€5,197
down €5,197 (-18.7%), from €27,803 to €22,605
- Taxes -€1,725
down €1,725 (-45.5%), from €3,791 to €2,066
- Financial income -€857
no longer reported in 2026 (was €857)
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€11,444
Gross operating margin
-€5,197
Depreciation
-€155
Other operating charges
-€2
Financial income
-€857
Financial charges
+€181
Taxes
+€1,725
Result 2026
€7,140
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€1,033
Investment
€0
Financing
€0
Cash 2025
€7,495
From operations (derived)
-€1,033
Net result for the year
+€7,140
Depreciation
+€12,564
Receivables within one year
-€21,938
Trade debts
+€345
Tax, wage and social debts
+€856
Cash 2026
€6,462
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €328,526 | €336,867 | +€8,341 | +2.5% |
| Fixed assets | 21/28 | €309,846 | €297,282 | -€12,564 | -4.1% |
| Tangible fixed assets | 22/27 | €44,820 | €32,257 | -€12,564 | -28.0% |
| Other tangible fixed assets | 26 | €44,820 | €32,257 | -€12,564 | -28.0% |
| Financial fixed assets | 28 | €265,025 | €265,025 | = | 0.0% |
| Current assets | 29/58 | €18,680 | €39,584 | +€20,904 | +112% |
| Amounts receivable within one year | 40/41 | €11,185 | €33,123 | +€21,938 | +196% |
| Trade receivables | 40 | €10,285 | €32,973 | +€22,688 | +221% |
| Other amounts receivable | 41 | €900 | €150 | -€750 | -83.3% |
| Cash at bank and in hand | 54/58 | €7,495 | €6,462 | -€1,033 | -13.8% |
| Total equity and liabilities | 10/49 | €328,526 | €336,867 | +€8,341 | +2.5% |
| Equity | 10/15 | €320,160 | €327,300 | +€7,140 | +2.2% |
| Contributions | 10/11 | €286,520 | €286,520 | = | 0.0% |
| Capital | 10 | €286,520 | €286,520 | = | 0.0% |
| Issued capital | 100 | €286,520 | €286,520 | = | 0.0% |
| Reserves | 13 | €28,652 | €38,652 | +€10,000 | +34.9% |
| Non-distributable reserves | 130/1 | €28,652 | €28,652 | = | 0.0% |
| Legal reserve | 130 | €28,652 | €28,652 | = | 0.0% |
| Distributable reserves | 133 | - | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | €4,988 | €2,128 | -€2,860 | -57.3% |
| Amounts payable | 17/49 | €8,366 | €9,566 | +€1,201 | +14.4% |
| Amounts payable within one year | 42/48 | €8,366 | €9,566 | +€1,201 | +14.4% |
| Trade debts | 44 | €7,674 | €8,019 | +€345 | +4.5% |
| Suppliers | 440/4 | €7,674 | €8,019 | +€345 | +4.5% |
| Taxes, remuneration and social security | 45 | €692 | €1,548 | +€856 | +124% |
| Taxes | 450/3 | €692 | €1,548 | +€856 | +124% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,409 | €12,564 | +€155 | +1.2% |
| Other operating charges | 640/8 | €754 | €755 | +€2 | +0.2% |
| Gross operating margin | 9900 | €27,803 | €22,605 | -€5,197 | -18.7% |
| Operating profit (loss) | 9901 | €14,640 | €9,286 | -€5,354 | -36.6% |
| Financial income | 75/76B | €857 | - | -€857 | |
| Recurring financial income | 75 | €857 | - | -€857 | |
| Financial charges | 65/66B | €261 | €80 | -€181 | -69.3% |
| Recurring financial charges | 65 | €261 | €80 | -€181 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | €15,236 | €9,206 | -€6,030 | -39.6% |
| Income taxes | 67/77 | €3,791 | €2,066 | -€1,725 | -45.5% |
| Profit (loss) for the period | 9904 | €11,444 | €7,140 | -€4,304 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,444 | €7,140 | -€4,304 | -37.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.