BUREAU 44: 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.
BUREAU 44
Largest movements
- Cash -€39,777
down €39,777 (-62.9%), from €63,278 to €23,501
mainly Debts after one year (-€27,278) and Net result for the year (-€27,008)
- Receivables within one year -€33,374
down €33,374 (-29.3%), from €113,735 to €80,362
of which Other amounts receivable: -€19,175
- Current investments -€20,812
down €20,812 (-13.1%), from €158,366 to €137,554
- Tangible fixed assets -€13,844
down €13,844 (-4.9%), from €284,153 to €270,309
of which Land and buildings: -€12,599
- Debts after one year -€27,278
down €27,278 (-12.7%), from €214,049 to €186,771
- Profit (loss) carried forward -€27,008
down €27,008, from €7,208 to -€19,800
- Reserves -€22,000
down €22,000 (-8.8%), from €248,705 to €226,705
- Tax, wage and social debts -€18,730
down €18,730 (-36.9%), from €50,718 to €31,988
of which Remuneration and social security: -€19,630
- Trade debts -€11,295
down €11,295 (-34.7%), from €32,571 to €21,277
- Gross operating margin -€56,916
down €56,916 (-21.9%), from €259,707 to €202,791
- Other operating charges -€8,274
down €8,274 (-92.0%), from €8,996 to €721
- Taxes -€5,594
down €5,594 (-97.5%), from €5,738 to €144
- Staff costs -€4,807
down €4,807 (-2.2%), from €217,187 to €212,380
- Depreciation -€2,598
down €2,598 (-14.7%), from €17,643 to €15,044
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.
Derived cash bridge
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 | €628,209 | €519,912 | -€108,297 | -17.2% |
| Fixed assets | 21/28 | €289,986 | €274,941 | -€15,044 | -5.2% |
| Intangible fixed assets | 21 | €5,033 | €3,833 | -€1,200 | -23.8% |
| Tangible fixed assets | 22/27 | €284,153 | €270,309 | -€13,844 | -4.9% |
| Land and buildings | 22 | €280,165 | €267,566 | -€12,599 | -4.5% |
| Furniture and vehicles | 24 | €3,988 | €2,743 | -€1,245 | -31.2% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €338,223 | €244,971 | -€93,253 | -27.6% |
| Amounts receivable within one year | 40/41 | €113,735 | €80,362 | -€33,374 | -29.3% |
| Trade receivables | 40 | €91,316 | €77,117 | -€14,199 | -15.5% |
| Other amounts receivable | 41 | €22,420 | €3,245 | -€19,175 | -85.5% |
| Current investments | 50/53 | €158,366 | €137,554 | -€20,812 | -13.1% |
| Cash at bank and in hand | 54/58 | €63,278 | €23,501 | -€39,777 | -62.9% |
| Deferred charges and accrued income | 490/1 | €2,844 | €3,554 | +€710 | +24.9% |
| Total equity and liabilities | 10/49 | €628,209 | €519,912 | -€108,297 | -17.2% |
| Equity | 10/15 | €297,113 | €248,105 | -€49,008 | -16.5% |
| Contributions | 10/11 | €41,200 | €41,200 | = | 0.0% |
| Reserves | 13 | €248,705 | €226,705 | -€22,000 | -8.8% |
| Distributable reserves | 133 | €248,705 | €226,705 | -€22,000 | -8.8% |
| Profit (loss) carried forward | 14 | €7,208 | -€19,800 | -€27,008 | |
| Amounts payable | 17/49 | €331,097 | €271,807 | -€59,290 | -17.9% |
| Amounts payable after more than one year | 17 | €214,049 | €186,771 | -€27,278 | -12.7% |
| Financial debts | 170/4 | €214,049 | €186,771 | -€27,278 | -12.7% |
| Amounts payable within one year | 42/48 | €116,967 | €84,982 | -€31,985 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €26,905 | €27,278 | +€373 | +1.4% |
| Financial debts | 43 | €6,773 | €0 | -€6,773 | -100% |
| Credit institutions | 430/8 | €6,773 | €0 | -€6,773 | -100% |
| Trade debts | 44 | €32,571 | €21,277 | -€11,295 | -34.7% |
| Suppliers | 440/4 | €32,571 | €21,277 | -€11,295 | -34.7% |
| Taxes, remuneration and social security | 45 | €50,718 | €31,988 | -€18,730 | -36.9% |
| Taxes | 450/3 | €9,419 | €10,319 | +€899 | +9.5% |
| Remuneration and social security | 454/9 | €41,299 | €21,669 | -€19,630 | -47.5% |
| Other amounts payable | 47/48 | - | €4,439 | +€4,439 | |
| Accrued charges and deferred income | 492/3 | €81 | €54 | -€26 | -32.6% |
| Non-recurring operating income | 76A | €52 | €1,154 | +€1,102 | +2,119% |
| Remuneration, social security and pensions | 62 | €217,187 | €212,380 | -€4,807 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,643 | €15,044 | -€2,598 | -14.7% |
| Other operating charges | 640/8 | €8,996 | €721 | -€8,274 | -92.0% |
| Gross operating margin | 9900 | €259,707 | €202,791 | -€56,916 | -21.9% |
| Operating profit (loss) | 9901 | €15,881 | -€25,355 | -€41,236 | |
| Financial income | 75/76B | €2,069 | €2,021 | -€48 | -2.3% |
| Recurring financial income | 75 | €2,069 | €2,021 | -€48 | -2.3% |
| Financial charges | 65/66B | €4,328 | €3,530 | -€799 | -18.4% |
| Recurring financial charges | 65 | €4,328 | €3,530 | -€799 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €13,622 | -€26,864 | -€40,486 | |
| Income taxes | 67/77 | €5,738 | €144 | -€5,594 | -97.5% |
| Profit (loss) for the period | 9904 | €7,884 | -€27,008 | -€34,892 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,884 | -€27,008 | -€34,892 |
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 14 October 2026 via checked.be.