BuRaMeD: 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.
What changed
BuRaMeD
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€294,587
2024 · €328,250-€33,663
Equity
€1.6m
2024 · €1.6m+€4,495
Cash
€955,804
2024 · €928,236+€27,569
Balance sheet total
€1.8m
2024 · €1.8m-€7,803
Largest movements
Assets
- Receivables within one year -€140,223
down €140,223 (-99.1%), from €141,523 to €1,300
- Current investments +€74,360
up €74,360 (+27.7%), from €268,741 to €343,101
- Cash +€27,569
up €27,569 (+3.0%), from €928,236 to €955,804
mainly Net result for the year (+€294,587) and Receivables within one year (+€140,223)
- Deferred charges and accrued income +€23,029
up €23,029 (+9.5%), from €243,078 to €266,107
Equity and liabilities
- Debts after one year -€27,127
down €27,127 (-59.1%), from €45,885 to €18,758
- Other debts +€20,484
up €20,484, from €0 to €20,484
Income statement
- Gross operating margin -€47,161
down €47,161 (-9.0%), from €524,356 to €477,195
- Taxes -€17,104
down €17,104 (-10.7%), from €160,584 to €143,480
- Financial income -€6,123
down €6,123 (-58.9%), from €10,388 to €4,266
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
€328,250
Gross operating margin
-€47,161
Depreciation
+€1,059
Other operating charges
+€1,004
Other operating items
+€7
Financial income
-€6,123
Financial charges
+€855
Taxes
+€17,104
Deferred taxes and other
-€408
Result 2025
€294,587
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
+€454,778
Investment
-€117,460
Financing
-€309,749
Cash 2024
€928,236
From operations (derived)
+€454,778
Net result for the year
+€294,587
Depreciation
+€35,638
Receivables within one year
+€140,223
Deferred charges and accrued income
-€23,029
Provisions
-€542
Trade debts
+€2,950
Tax, wage and social debts
-€15,533
Other debts
+€20,484
Investment (derived)
-€117,460
Investment in fixed assets (net)
-€43,100
Current investments
-€74,360
Financing
-€309,749
Debts after one year
-€27,127
Current portion of long-term debt
+€1,079
Short-term financial debts
+€6,391
Contributions, distributions and other
-€290,092
Cash 2025
€955,804
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,843,910 | €1,836,107 | -€7,803 | -0.4% |
| Fixed assets | 21/28 | €262,333 | €269,795 | +€7,462 | +2.8% |
| Tangible fixed assets | 22/27 | €237,188 | €244,650 | +€7,462 | +3.1% |
| Land and buildings | 22 | €196,991 | €184,762 | -€12,229 | -6.2% |
| Plant, machinery and equipment | 23 | €25,054 | €15,810 | -€9,244 | -36.9% |
| Furniture and vehicles | 24 | €15,143 | €44,077 | +€28,934 | +191.1% |
| Financial fixed assets | 28 | €25,145 | €25,145 | = | 0.0% |
| Current assets | 29/58 | €1,581,577 | €1,566,312 | -€15,265 | -1.0% |
| Amounts receivable within one year | 40/41 | €141,523 | €1,300 | -€140,223 | -99.1% |
| Other amounts receivable | 41 | €141,523 | €1,300 | -€140,223 | -99.1% |
| Current investments | 50/53 | €268,741 | €343,101 | +€74,360 | +27.7% |
| Cash at bank and in hand | 54/58 | €928,236 | €955,804 | +€27,569 | +3.0% |
| Deferred charges and accrued income | 490/1 | €243,078 | €266,107 | +€23,029 | +9.5% |
| Total equity and liabilities | 10/49 | €1,843,910 | €1,836,107 | -€7,803 | -0.4% |
| Equity | 10/15 | €1,611,226 | €1,615,721 | +€4,495 | +0.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,524,922 | €1,529,417 | +€4,495 | +0.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,984 | €7,931 | -€1,053 | -11.7% |
| Distributable reserves | 133 | €1,514,079 | €1,519,626 | +€5,548 | +0.4% |
| Profit (loss) carried forward | 14 | €80,104 | €80,104 | = | 0.0% |
| Provisions and deferred taxes | 16 | €4,629 | €4,086 | -€542 | -11.7% |
| Deferred taxes | 168 | €4,629 | €4,086 | -€542 | -11.7% |
| Amounts payable | 17/49 | €228,055 | €216,299 | -€11,756 | -5.2% |
| Amounts payable after more than one year | 17 | €45,885 | €18,758 | -€27,127 | -59.1% |
| Financial debts | 170/4 | €45,885 | €18,758 | -€27,127 | -59.1% |
| Amounts payable within one year | 42/48 | €182,170 | €197,541 | +€15,371 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €49,628 | €50,707 | +€1,079 | +2.2% |
| Financial debts | 43 | €305 | €6,696 | +€6,391 | +2095.0% |
| Credit institutions | 430/8 | €305 | €6,696 | +€6,391 | +2095.0% |
| Trade debts | 44 | €4,854 | €7,804 | +€2,950 | +60.8% |
| Suppliers | 440/4 | €4,854 | €7,804 | +€2,950 | +60.8% |
| Taxes, remuneration and social security | 45 | €127,382 | €111,849 | -€15,533 | -12.2% |
| Taxes | 450/3 | €121,382 | €111,849 | -€9,533 | -7.9% |
| Remuneration and social security | 454/9 | €6,000 | €0 | -€6,000 | -100.0% |
| Other amounts payable | 47/48 | €0 | €20,484 | +€20,484 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,697 | €35,638 | -€1,059 | -2.9% |
| Other operating charges | 640/8 | €3,398 | €2,394 | -€1,004 | -29.5% |
| Non-recurring operating charges | 66A | €7 | €0 | -€7 | -100.0% |
| Gross operating margin | 9900 | €524,356 | €477,195 | -€47,161 | -9.0% |
| Operating profit (loss) | 9901 | €484,254 | €439,163 | -€45,091 | -9.3% |
| Financial income | 75/76B | €10,388 | €4,266 | -€6,123 | -58.9% |
| Recurring financial income | 75 | €10,388 | €4,266 | -€6,123 | -58.9% |
| Financial charges | 65/66B | €6,758 | €5,904 | -€855 | -12.6% |
| Recurring financial charges | 65 | €6,758 | €5,904 | -€855 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €487,884 | €437,525 | -€50,359 | -10.3% |
| Transfer from deferred taxes | 780 | €950 | €542 | -€408 | -42.9% |
| Income taxes | 67/77 | €160,584 | €143,480 | -€17,104 | -10.7% |
| Profit (loss) for the period | 9904 | €328,250 | €294,587 | -€33,663 | -10.3% |
| Transfer from tax-exempt reserves | 789 | €1,845 | €1,053 | -€792 | -42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €330,094 | €295,640 | -€34,455 | -10.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.