Bureau Collard: 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 Collard
Largest movements
- Tangible fixed assets -€623,946
down €623,946 (-44.8%), from €1.4m to €769,242
- Cash +€331,364
up €331,364 (+1,341%), from €24,706 to €356,070
mainly Investment in fixed assets (net) (+€623,646) and Receivables within one year (+€95,874)
- Receivables within one year -€95,874
down €95,874 (-52.3%), from €183,257 to €87,383
of which Trade receivables: -€48,822
- Financial fixed assets -€91,250
down €91,250 (-97.6%), from €93,536 to €2,286
- Debts after one year -€203,267
down €203,267 (-44.4%), from €458,124 to €254,858
- Provisions -€105,645
down €105,645 (-96.5%), from €109,435 to €3,790
- Reserves -€101,580
down €101,580 (-11.0%), from €924,594 to €823,015
of which Tax-exempt reserves: -€317,287
- Trade debts -€47,800
down €47,800 (-92.6%), from €51,648 to €3,848
- Other debts -€24,788
down €24,788 (-60.9%), from €40,728 to €15,940
- Gross operating margin -€156,929
down €156,929 (-48.8%), from €321,503 to €164,574
- Write-downs +€100,324
new in 2025: €100,324
- Depreciation -€27,521
down €27,521 (-23.1%), from €119,071 to €91,550
- Financial charges -€14,259
down €14,259 (-33.2%), from €42,983 to €28,725
- Taxes +€5,450
up €5,450 (+4.8%), from €113,953 to €119,403
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 | €1,699,196 | €1,219,356 | -€479,840 | -28.2% |
| Fixed assets | 21/28 | €1,486,724 | €771,527 | -€715,196 | -48.1% |
| Tangible fixed assets | 22/27 | €1,393,188 | €769,242 | -€623,946 | -44.8% |
| Land and buildings | 22 | €989,586 | €690,248 | -€299,338 | -30.2% |
| Furniture and vehicles | 24 | €29,647 | €15,117 | -€14,530 | -49.0% |
| Other tangible fixed assets | 26 | €373,955 | €63,877 | -€310,078 | -82.9% |
| Financial fixed assets | 28 | €93,536 | €2,286 | -€91,250 | -97.6% |
| Current assets | 29/58 | €212,472 | €447,829 | +€235,357 | +111% |
| Amounts receivable within one year | 40/41 | €183,257 | €87,383 | -€95,874 | -52.3% |
| Trade receivables | 40 | €59,515 | €10,693 | -€48,822 | -82.0% |
| Other amounts receivable | 41 | €123,741 | €76,689 | -€47,052 | -38.0% |
| Cash at bank and in hand | 54/58 | €24,706 | €356,070 | +€331,364 | +1,341% |
| Deferred charges and accrued income | 490/1 | €4,510 | €4,377 | -€133 | -3.0% |
| Total equity and liabilities | 10/49 | €1,699,196 | €1,219,356 | -€479,840 | -28.2% |
| Equity | 10/15 | €1,001,441 | €899,862 | -€101,580 | -10.1% |
| Contributions | 10/11 | €76,847 | €76,847 | = | 0.0% |
| Reserves | 13 | €924,594 | €823,015 | -€101,580 | -11.0% |
| Tax-exempt reserves | 132 | €328,656 | €11,370 | -€317,287 | -96.5% |
| Distributable reserves | 133 | €595,938 | €811,645 | +€215,707 | +36.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €109,435 | €3,790 | -€105,645 | -96.5% |
| Deferred taxes | 168 | €109,435 | €3,790 | -€105,645 | -96.5% |
| Amounts payable | 17/49 | €588,319 | €315,705 | -€272,615 | -46.3% |
| Amounts payable after more than one year | 17 | €458,124 | €254,858 | -€203,267 | -44.4% |
| Financial debts | 170/4 | €458,124 | €254,858 | -€203,267 | -44.4% |
| Amounts payable within one year | 42/48 | €130,195 | €60,847 | -€69,348 | -53.3% |
| Current portion of amounts payable after more than one year | 42 | €36,841 | €31,767 | -€5,075 | -13.8% |
| Trade debts | 44 | €51,648 | €3,848 | -€47,800 | -92.6% |
| Suppliers | 440/4 | €51,648 | €3,848 | -€47,800 | -92.6% |
| Taxes, remuneration and social security | 45 | €978 | €9,292 | +€8,315 | +850% |
| Taxes | 450/3 | €978 | €9,292 | +€8,315 | +850% |
| Other amounts payable | 47/48 | €40,728 | €15,940 | -€24,788 | -60.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,071 | €91,550 | -€27,521 | -23.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €100,324 | +€100,324 | |
| Other operating charges | 640/8 | €13,365 | €11,731 | -€1,634 | -12.2% |
| Gross operating margin | 9900 | €321,503 | €164,574 | -€156,929 | -48.8% |
| Operating profit (loss) | 9901 | €189,067 | -€39,032 | -€228,098 | |
| Financial income | 75/76B | €56 | €928 | +€872 | +1,546% |
| Recurring financial income | 75 | €56 | €928 | +€872 | +1,546% |
| Financial charges | 65/66B | €42,983 | €28,725 | -€14,259 | -33.2% |
| Recurring financial charges | 65 | €42,983 | €28,725 | -€14,259 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | €146,140 | -€66,828 | -€212,967 | |
| Transfer from deferred taxes | 780 | €66,499 | €105,645 | +€39,147 | +58.9% |
| Income taxes | 67/77 | €113,953 | €119,403 | +€5,450 | +4.8% |
| Profit (loss) for the period | 9904 | €98,685 | -€80,585 | -€179,270 | |
| Transfer from tax-exempt reserves | 789 | €199,709 | €317,287 | +€117,578 | +58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €298,395 | €236,702 | -€61,693 | -20.7% |
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 17 October 2026 via checked.be.