BUREAU GHAYE: 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 GHAYE
Largest movements
- Cash -€47,644
down €47,644 (-73.3%), from €64,991 to €17,347
mainly Contributions, distributions and other (-€75,000) and Debts after one year (-€17,980)
- Receivables within one year -€11,460
down €11,460 (-34.5%), from €33,205 to €21,746
of which Trade receivables: -€6,186
- Profit (loss) carried forward -€45,000
down €45,000 (-91.7%), from €49,062 to €4,062
- Contributions -€30,000
down €30,000 (-83.3%), from €36,000 to €6,000
- Debts after one year -€17,980
down €17,980 (-32.2%), from €55,879 to €37,899
- Tax, wage and social debts +€11,799
up €11,799 (+45.9%), from €25,695 to €37,494
- Reserves +€8,817
up €8,817 (+35.8%), from €24,650 to €33,467
of which Distributable reserves: +€8,817
- Financial charges +€14,579
up €14,579 (+371%), from €3,933 to €18,513
- Taxes -€5,418
down €5,418 (-52.1%), from €10,407 to €4,990
- Gross operating margin -€4,489
down €4,489 (-10.9%), from €41,214 to €36,725
- Other operating charges +€1,294
up €1,294 (+34.0%), from €3,803 to €5,098
- Financial income -€715
down €715 (-18.5%), from €3,859 to €3,144
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 | €216,595 | €156,978 | -€59,617 | -27.5% |
| Fixed assets | 21/28 | €116,967 | €116,216 | -€751 | -0.6% |
| Tangible fixed assets | 22/27 | €3,660 | €2,909 | -€751 | -20.5% |
| Plant, machinery and equipment | 23 | €1,591 | €2,381 | +€790 | +49.6% |
| Furniture and vehicles | 24 | €2,069 | €528 | -€1,541 | -74.5% |
| Financial fixed assets | 28 | €113,307 | €113,307 | = | 0.0% |
| Current assets | 29/58 | €99,628 | €40,762 | -€58,866 | -59.1% |
| Amounts receivable within one year | 40/41 | €33,205 | €21,746 | -€11,460 | -34.5% |
| Trade receivables | 40 | €26,731 | €20,546 | -€6,186 | -23.1% |
| Other amounts receivable | 41 | €6,474 | €1,200 | -€5,274 | -81.5% |
| Cash at bank and in hand | 54/58 | €64,991 | €17,347 | -€47,644 | -73.3% |
| Deferred charges and accrued income | 490/1 | €1,432 | €1,670 | +€238 | +16.6% |
| Total equity and liabilities | 10/49 | €216,595 | €156,978 | -€59,617 | -27.5% |
| Equity | 10/15 | €109,712 | €43,530 | -€66,183 | -60.3% |
| Contributions | 10/11 | €36,000 | €6,000 | -€30,000 | -83.3% |
| Reserves | 13 | €24,650 | €33,467 | +€8,817 | +35.8% |
| Non-distributable reserves | 130/1 | €3,600 | €3,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,600 | €3,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,050 | €21,050 | = | 0.0% |
| Distributable reserves | 133 | - | €8,817 | +€8,817 | |
| Profit (loss) carried forward | 14 | €49,062 | €4,062 | -€45,000 | -91.7% |
| Amounts payable | 17/49 | €106,883 | €113,448 | +€6,566 | +6.1% |
| Amounts payable after more than one year | 17 | €55,879 | €37,899 | -€17,980 | -32.2% |
| Financial debts | 170/4 | €55,879 | €37,899 | -€17,980 | -32.2% |
| Amounts payable within one year | 42/48 | €51,004 | €75,550 | +€24,546 | +48.1% |
| Current portion of amounts payable after more than one year | 42 | €17,363 | €17,980 | +€617 | +3.6% |
| Trade debts | 44 | €2,946 | €7,957 | +€5,011 | +170% |
| Suppliers | 440/4 | €2,946 | €7,957 | +€5,011 | +170% |
| Taxes, remuneration and social security | 45 | €25,695 | €37,494 | +€11,799 | +45.9% |
| Taxes | 450/3 | €25,695 | €37,494 | +€11,799 | +45.9% |
| Other amounts payable | 47/48 | €5,000 | €12,119 | +€7,119 | +142% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,734 | €2,451 | -€283 | -10.4% |
| Other operating charges | 640/8 | €3,803 | €5,098 | +€1,294 | +34.0% |
| Gross operating margin | 9900 | €41,214 | €36,725 | -€4,489 | -10.9% |
| Operating profit (loss) | 9901 | €34,676 | €29,176 | -€5,500 | -15.9% |
| Financial income | 75/76B | €3,859 | €3,144 | -€715 | -18.5% |
| Recurring financial income | 75 | €3,859 | €3,144 | -€715 | -18.5% |
| Financial charges | 65/66B | €3,933 | €18,513 | +€14,579 | +371% |
| Recurring financial charges | 65 | €3,933 | €18,513 | +€14,579 | +371% |
| Profit (loss) for the period before taxes | 9903 | €34,602 | €13,807 | -€20,795 | -60.1% |
| Income taxes | 67/77 | €10,407 | €4,990 | -€5,418 | -52.1% |
| Profit (loss) for the period | 9904 | €24,195 | €8,817 | -€15,377 | -63.6% |
| Transfer to tax-exempt reserves | 689 | €21,050 | - | -€21,050 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,145 | €8,817 | +€5,673 | +180% |
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 18 October 2026 via checked.be.