BUR'EAU: 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.
What changed
BUR'EAU
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5,600
2024 · €6,012-€411
Equity
€99,917
2024 · €94,316+€5,600
Cash
€16,100
2024 · €9,179+€6,921
Balance sheet total
€771,523
2024 · €688,907+€82,616
Largest movements
Assets
- Tangible fixed assets +€71,430
up €71,430 (+10.7%), from €667,470 to €738,901
of which Land and buildings: +€76,725
Equity and liabilities
- Debts after one year +€78,405
up €78,405 (+15.7%), from €498,778 to €577,183
Income statement
- Gross operating margin +€3,942
up €3,942 (+6.3%), from €62,492 to €66,435
- Other operating charges -€2,425
down €2,425 (-38.6%), from €6,278 to €3,853
- Depreciation +€2,216
up €2,216 (+5.3%), from €42,154 to €44,370
- Financial charges +€2,131
up €2,131 (+24.0%), from €8,862 to €10,993
- Provisions +€1,619
new in 2025: €1,619
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.
Result 2024
€6,012
Gross operating margin
+€3,942
Depreciation
-€2,216
Provisions
-€1,619
Other operating charges
+€2,425
Financial income
-€1,517
Financial charges
-€2,131
Taxes
+€705
Result 2025
€5,600
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.
From operations
+€43,325
Investment
-€114,332
Financing
+€77,928
Cash 2024
€9,179
From operations (derived)
+€43,325
Net result for the year
+€5,600
Depreciation
+€44,370
Receivables within one year
-€5,133
Deferred charges and accrued income
-€600
Provisions
+€1,619
Trade debts
-€2,194
Tax, wage and social debts
-€1,224
Advances received
+€5,445
Other debts
-€6,321
Accrued charges and deferred income
+€1,764
Investment (derived)
-€114,332
Investment in fixed assets (net)
-€114,332
Financing
+€77,928
Debts after one year
+€78,405
Current portion of long-term debt
-€478
Cash 2025
€16,100
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €688,907 | €771,523 | +€82,616 | +12.0% |
| Fixed assets | 21/28 | €671,903 | €741,866 | +€69,963 | +10.4% |
| Intangible fixed assets | 21 | €4,426 | €2,958 | -€1,468 | -33.2% |
| Tangible fixed assets | 22/27 | €667,470 | €738,901 | +€71,430 | +10.7% |
| Land and buildings | 22 | €653,216 | €729,941 | +€76,725 | +11.7% |
| Plant, machinery and equipment | 23 | €1,724 | €1,012 | -€712 | -41.3% |
| Furniture and vehicles | 24 | €12,531 | €7,948 | -€4,582 | -36.6% |
| Financial fixed assets | 28 | €8 | €8 | = | 0.0% |
| Current assets | 29/58 | €17,003 | €29,657 | +€12,654 | +74.4% |
| Amounts receivable within one year | 40/41 | €7,824 | €12,957 | +€5,133 | +65.6% |
| Trade receivables | 40 | €7,806 | €12,904 | +€5,098 | +65.3% |
| Other amounts receivable | 41 | €18 | €53 | +€35 | +191.7% |
| Cash at bank and in hand | 54/58 | €9,179 | €16,100 | +€6,921 | +75.4% |
| Deferred charges and accrued income | 490/1 | €0 | €600 | +€600 | |
| Total equity and liabilities | 10/49 | €688,907 | €771,523 | +€82,616 | +12.0% |
| Equity | 10/15 | €94,316 | €99,917 | +€5,600 | +5.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,316 | €79,917 | +€5,600 | +7.5% |
| Provisions and deferred taxes | 16 | - | €1,619 | +€1,619 | |
| Provisions for liabilities and charges | 160/5 | - | €1,619 | +€1,619 | |
| Major repairs and maintenance | 162 | - | €1,619 | +€1,619 | |
| Amounts payable | 17/49 | €594,590 | €669,987 | +€75,397 | +12.7% |
| Amounts payable after more than one year | 17 | €498,778 | €577,183 | +€78,405 | +15.7% |
| Financial debts | 170/4 | €498,778 | €577,183 | +€78,405 | +15.7% |
| Amounts payable within one year | 42/48 | €94,671 | €89,899 | -€4,771 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €48,866 | €48,389 | -€478 | -1.0% |
| Trade debts | 44 | €4,055 | €1,862 | -€2,194 | -54.1% |
| Suppliers | 440/4 | €4,055 | €1,862 | -€2,194 | -54.1% |
| Advances received on contracts in progress | 46 | - | €5,445 | +€5,445 | |
| Taxes, remuneration and social security | 45 | €5,309 | €4,086 | -€1,224 | -23.0% |
| Taxes | 450/3 | €5,309 | €4,086 | -€1,224 | -23.0% |
| Other amounts payable | 47/48 | €36,439 | €30,118 | -€6,321 | -17.3% |
| Accrued charges and deferred income | 492/3 | €1,142 | €2,906 | +€1,764 | +154.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,154 | €44,370 | +€2,216 | +5.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €1,619 | +€1,619 | |
| Other operating charges | 640/8 | €6,278 | €3,853 | -€2,425 | -38.6% |
| Gross operating margin | 9900 | €62,492 | €66,435 | +€3,942 | +6.3% |
| Operating profit (loss) | 9901 | €14,061 | €16,593 | +€2,532 | +18.0% |
| Financial income | 75/76B | €1,517 | €0 | -€1,517 | -100.0% |
| Recurring financial income | 75 | €1,517 | €0 | -€1,517 | -100.0% |
| Financial charges | 65/66B | €8,862 | €10,993 | +€2,131 | +24.0% |
| Recurring financial charges | 65 | €8,862 | €10,993 | +€2,131 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €6,716 | €5,600 | -€1,116 | -16.6% |
| Income taxes | 67/77 | €705 | - | -€705 | |
| Profit (loss) for the period | 9904 | €6,012 | €5,600 | -€411 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,012 | €5,600 | -€411 | -6.8% |
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 28 September 2026 via checked.be.