BUP: 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.
BUP
Largest movements
- Tangible fixed assets -€17,313
down €17,313 (-6.8%), from €255,143 to €237,830
of which Land and buildings: -€14,434
- Stocks and contracts +€7,718
up €7,718 (+28.1%), from €27,508 to €35,225
- Receivables within one year -€5,653
down €5,653 (-9.3%), from €60,653 to €55,000
- Debts after one year -€15,604
down €15,604 (-10.0%), from €155,282 to €139,678
- Tax, wage and social debts -€4,745
down €4,745 (-19.7%), from €24,092 to €19,346
of which Taxes: -€4,745
- Profit (loss) carried forward +€4,571
up €4,571 (+28.8%), from -€15,885 to -€11,314
- Gross operating margin +€21,586
up €21,586 (+172.6%), from €12,508 to €34,094
- Financial charges +€886
up €886 (+21.8%), from €4,072 to €4,958
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 | €368,270 | €354,403 | -€13,867 | -3.8% |
| Fixed assets | 21/28 | €255,444 | €238,131 | -€17,313 | -6.8% |
| Tangible fixed assets | 22/27 | €255,143 | €237,830 | -€17,313 | -6.8% |
| Land and buildings | 22 | €241,784 | €227,349 | -€14,434 | -6.0% |
| Plant, machinery and equipment | 23 | €9,642 | €8,622 | -€1,020 | -10.6% |
| Furniture and vehicles | 24 | €3,717 | €1,858 | -€1,858 | -50.0% |
| Financial fixed assets | 28 | €301 | €301 | = | 0.0% |
| Current assets | 29/58 | €112,826 | €116,272 | +€3,446 | +3.1% |
| Stocks and contracts in progress | 3 | €27,508 | €35,225 | +€7,718 | +28.1% |
| Stocks | 30/36 | €27,508 | €35,225 | +€7,718 | +28.1% |
| Amounts receivable within one year | 40/41 | €60,653 | €55,000 | -€5,653 | -9.3% |
| Trade receivables | 40 | €60,653 | €55,000 | -€5,653 | -9.3% |
| Cash at bank and in hand | 54/58 | €24,610 | €26,047 | +€1,437 | +5.8% |
| Deferred charges and accrued income | 490/1 | €55 | €0 | -€55 | -100.0% |
| Total equity and liabilities | 10/49 | €368,270 | €354,403 | -€13,867 | -3.8% |
| Equity | 10/15 | €154,138 | €158,709 | +€4,571 | +3.0% |
| Contributions | 10/11 | €97,918 | €97,918 | = | 0.0% |
| Capital | 10 | €97,918 | €97,918 | = | 0.0% |
| Issued capital | 100 | €97,918 | €97,918 | = | 0.0% |
| Reserves | 13 | €72,105 | €72,105 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,792 | €9,792 | = | 0.0% |
| Legal reserve | 130 | €9,792 | €9,792 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,313 | €12,313 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,885 | -€11,314 | +€4,571 | +28.8% |
| Amounts payable | 17/49 | €214,131 | €195,694 | -€18,437 | -8.6% |
| Amounts payable after more than one year | 17 | €155,282 | €139,678 | -€15,604 | -10.0% |
| Financial debts | 170/4 | €155,282 | €139,678 | -€15,604 | -10.0% |
| Amounts payable within one year | 42/48 | €57,807 | €55,907 | -€1,900 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €16,560 | €16,890 | +€331 | +2.0% |
| Trade debts | 44 | €1,015 | €2,167 | +€1,152 | +113.5% |
| Suppliers | 440/4 | €1,015 | €2,167 | +€1,152 | +113.5% |
| Taxes, remuneration and social security | 45 | €24,092 | €19,346 | -€4,745 | -19.7% |
| Taxes | 450/3 | €22,092 | €17,346 | -€4,745 | -21.5% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €16,140 | €17,503 | +€1,362 | +8.4% |
| Accrued charges and deferred income | 492/3 | €1,043 | €110 | -€934 | -89.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,219 | €17,313 | +€94 | +0.5% |
| Other operating charges | 640/8 | €7,120 | €7,252 | +€133 | +1.9% |
| Gross operating margin | 9900 | €12,508 | €34,094 | +€21,586 | +172.6% |
| Operating profit (loss) | 9901 | -€11,830 | €9,529 | +€21,359 | |
| Financial charges | 65/66B | €4,072 | €4,958 | +€886 | +21.8% |
| Recurring financial charges | 65 | €4,072 | €4,958 | +€886 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | -€15,902 | €4,571 | +€20,473 | |
| Profit (loss) for the period | 9904 | -€15,902 | €4,571 | +€20,473 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,902 | €4,571 | +€20,473 |
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 3 October 2026 via checked.be.