BUREAU D & W: 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 D & W
Largest movements
- Tangible fixed assets -€49,815
down €49,815 (-10.5%), from €476,171 to €426,357
of which Land and buildings: -€49,916
- Receivables within one year +€49,262
up €49,262 (+60.6%), from €81,329 to €130,591
of which Other amounts receivable: +€45,567
- Deferred charges and accrued income -€16,829
down €16,829 (-94.8%), from €17,755 to €926
- Cash +€12,356
up €12,356, from €0 to €12,356
mainly Depreciation (+€62,632) and Trade debts (+€21,635)
- Debts after one year -€28,355
down €28,355 (-16.9%), from €167,897 to €139,542
- Trade debts +€21,635
up €21,635 (+184%), from €11,743 to €33,379
- Tax, wage and social debts -€21,176
down €21,176 (-66.5%), from €31,823 to €10,647
of which Taxes: -€18,695
- Reserves +€17,144
up €17,144 (+5.8%), from €296,138 to €313,281
of which Distributable reserves: +€17,144
- Gross operating margin -€53,428
down €53,428 (-36.7%), from €145,528 to €92,100
- Taxes -€15,712
down €15,712 (-69.8%), from €22,499 to €6,787
- Depreciation +€2,817
up €2,817 (+4.7%), from €59,816 to €62,632
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 | €576,482 | €571,456 | -€5,026 | -0.9% |
| Fixed assets | 21/28 | €476,171 | €426,357 | -€49,815 | -10.5% |
| Tangible fixed assets | 22/27 | €476,171 | €426,357 | -€49,815 | -10.5% |
| Land and buildings | 22 | €439,683 | €389,767 | -€49,916 | -11.4% |
| Furniture and vehicles | 24 | €36,488 | €36,590 | +€102 | +0.3% |
| Current assets | 29/58 | €100,310 | €145,099 | +€44,789 | +44.7% |
| Stocks and contracts in progress | 3 | €1,226 | €1,226 | = | 0.0% |
| Stocks | 30/36 | €1,226 | €1,226 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €81,329 | €130,591 | +€49,262 | +60.6% |
| Trade receivables | 40 | €44,525 | €48,220 | +€3,695 | +8.3% |
| Other amounts receivable | 41 | €36,804 | €82,371 | +€45,567 | +124% |
| Cash at bank and in hand | 54/58 | €0 | €12,356 | +€12,356 | |
| Deferred charges and accrued income | 490/1 | €17,755 | €926 | -€16,829 | -94.8% |
| Total equity and liabilities | 10/49 | €576,482 | €571,456 | -€5,026 | -0.9% |
| Equity | 10/15 | €336,474 | €353,618 | +€17,144 | +5.1% |
| Contributions | 10/11 | €12,697 | €12,697 | = | 0.0% |
| Reserves | 13 | €296,138 | €313,281 | +€17,144 | +5.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,314 | €9,314 | = | 0.0% |
| Distributable reserves | 133 | €284,965 | €302,108 | +€17,144 | +6.0% |
| Profit (loss) carried forward | 14 | €27,639 | €27,639 | = | 0.0% |
| Amounts payable | 17/49 | €240,008 | €217,838 | -€22,170 | -9.2% |
| Amounts payable after more than one year | 17 | €167,897 | €139,542 | -€28,355 | -16.9% |
| Financial debts | 170/4 | €167,897 | €139,542 | -€28,355 | -16.9% |
| Amounts payable within one year | 42/48 | €72,111 | €73,047 | +€936 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €27,778 | €28,355 | +€577 | +2.1% |
| Financial debts | 43 | €101 | €0 | -€101 | -100% |
| Credit institutions | 430/8 | €101 | €0 | -€101 | -100% |
| Trade debts | 44 | €11,743 | €33,379 | +€21,635 | +184% |
| Suppliers | 440/4 | €11,743 | €33,379 | +€21,635 | +184% |
| Advances received on contracts in progress | 46 | €665 | €665 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €31,823 | €10,647 | -€21,176 | -66.5% |
| Taxes | 450/3 | €29,343 | €10,647 | -€18,695 | -63.7% |
| Remuneration and social security | 454/9 | €2,481 | €0 | -€2,481 | -100% |
| Accrued charges and deferred income | 492/3 | - | €5,250 | +€5,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,816 | €62,632 | +€2,817 | +4.7% |
| Other operating charges | 640/8 | €2,163 | €2,486 | +€322 | +14.9% |
| Gross operating margin | 9900 | €145,528 | €92,100 | -€53,428 | -36.7% |
| Operating profit (loss) | 9901 | €83,549 | €26,982 | -€56,567 | -67.7% |
| Financial income | 75/76B | €1,778 | €2,823 | +€1,045 | +58.8% |
| Recurring financial income | 75 | €1,778 | €2,823 | +€1,045 | +58.8% |
| Financial charges | 65/66B | €5,408 | €5,874 | +€466 | +8.6% |
| Recurring financial charges | 65 | €5,408 | €5,874 | +€466 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €79,919 | €23,931 | -€55,988 | -70.1% |
| Income taxes | 67/77 | €22,499 | €6,787 | -€15,712 | -69.8% |
| Profit (loss) for the period | 9904 | €57,421 | €17,144 | -€40,277 | -70.1% |
| Profit (loss) for the period to be appropriated | 9905 | €57,421 | €17,144 | -€40,277 | -70.1% |
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 24 October 2026 via checked.be.