BUNKER: 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.
BUNKER
Largest movements
- Tangible fixed assets -€95,928
down €95,928 (-3.0%), from €3.2m to €3.1m
of which Land and buildings: -€96,556
- Cash -€53,905
down €53,905 (-86.2%), from €62,557 to €8,652
mainly Net result for the year (-€79,796) and Investment in fixed assets (net) (-€65,761)
- Profit (loss) carried forward -€60,752
down €60,752 (-19.3%), from -€314,602 to -€375,354
- Debts after one year -€42,472
down €42,472 (-1.6%), from €2.7m to €2.6m
of which Financial debts: -€42,472
- Depreciation -€102,844
down €102,844 (-38.9%), from €264,593 to €161,749
- Provisions +€61,295
no longer reported in 2025 (was -€61,295)
- Gross operating margin +€26,431
up €26,431 (+19.5%), from €135,551 to €161,982
- Other operating charges +€14,010
up €14,010 (+68.0%), from €20,592 to €34,602
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 | €3,281,600 | €3,134,047 | -€147,554 | -4.5% |
| Fixed assets | 21/28 | €3,206,502 | €3,110,514 | -€95,988 | -3.0% |
| Tangible fixed assets | 22/27 | €3,206,442 | €3,110,514 | -€95,928 | -3.0% |
| Land and buildings | 22 | €3,203,441 | €3,106,885 | -€96,556 | -3.0% |
| Plant, machinery and equipment | 23 | €822 | €2,194 | +€1,372 | +166.9% |
| Furniture and vehicles | 24 | €2,180 | €1,436 | -€744 | -34.1% |
| Financial fixed assets | 28 | €60 | - | -€60 | |
| Current assets | 29/58 | €75,098 | €23,533 | -€51,565 | -68.7% |
| Amounts receivable within one year | 40/41 | - | €1,240 | +€1,240 | |
| Trade receivables | 40 | - | €1,068 | +€1,068 | |
| Other amounts receivable | 41 | - | €173 | +€173 | |
| Cash at bank and in hand | 54/58 | €62,557 | €8,652 | -€53,905 | -86.2% |
| Deferred charges and accrued income | 490/1 | €12,541 | €13,640 | +€1,099 | +8.8% |
| Total equity and liabilities | 10/49 | €3,281,600 | €3,134,047 | -€147,554 | -4.5% |
| Equity | 10/15 | €291,560 | €211,764 | -€79,796 | -27.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €406,161 | €387,117 | -€19,044 | -4.7% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €386,161 | €367,117 | -€19,044 | -4.9% |
| Profit (loss) carried forward | 14 | -€314,602 | -€375,354 | -€60,752 | -19.3% |
| Provisions and deferred taxes | 16 | €111,690 | €104,827 | -€6,863 | -6.1% |
| Deferred taxes | 168 | €111,690 | €104,827 | -€6,863 | -6.1% |
| Amounts payable | 17/49 | €2,878,351 | €2,817,456 | -€60,895 | -2.1% |
| Amounts payable after more than one year | 17 | €2,664,672 | €2,622,200 | -€42,472 | -1.6% |
| Financial debts | 170/4 | €42,472 | - | -€42,472 | |
| Other amounts payable | 178/9 | €2,622,200 | €2,622,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €153,842 | €135,914 | -€17,928 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €56,334 | €42,472 | -€13,861 | -24.6% |
| Trade debts | 44 | €22,462 | €5,265 | -€17,197 | -76.6% |
| Suppliers | 440/4 | €22,462 | €5,265 | -€17,197 | -76.6% |
| Taxes, remuneration and social security | 45 | €333 | - | -€333 | |
| Taxes | 450/3 | €333 | - | -€333 | |
| Other amounts payable | 47/48 | €74,713 | €88,177 | +€13,464 | +18.0% |
| Accrued charges and deferred income | 492/3 | €59,837 | €59,342 | -€494 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €264,593 | €161,749 | -€102,844 | -38.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€61,295 | - | +€61,295 | |
| Other operating charges | 640/8 | €20,592 | €34,602 | +€14,010 | +68.0% |
| Gross operating margin | 9900 | €135,551 | €161,982 | +€26,431 | +19.5% |
| Operating profit (loss) | 9901 | -€88,339 | -€34,369 | +€53,970 | +61.1% |
| Financial income | 75/76B | €0 | €2 | +€2 | +2683.3% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +2683.3% |
| Financial charges | 65/66B | €52,074 | €51,964 | -€110 | -0.2% |
| Recurring financial charges | 65 | €52,074 | €51,964 | -€110 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | -€140,413 | -€86,331 | +€54,082 | +38.5% |
| Transfer from deferred taxes | 780 | €6,863 | €6,863 | = | 0.0% |
| Income taxes | 67/77 | €333 | €327 | -€6 | -1.7% |
| Profit (loss) for the period | 9904 | -€133,883 | -€79,796 | +€54,087 | +40.4% |
| Transfer from tax-exempt reserves | 789 | €19,044 | €19,044 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€114,839 | -€60,752 | +€54,087 | +47.1% |
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 30 September 2026 via checked.be.