BUREAU M: 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 M
Largest movements
- Deferred charges and accrued income +€44,733
up €44,733 (+260%), from €17,188 to €61,920
- Tangible fixed assets +€27,904
up €27,904 (+5.2%), from €537,358 to €565,263
of which Land and buildings: +€30,002
- Receivables within one year +€23,711
up €23,711 (+26.7%), from €88,779 to €112,490
of which Trade receivables: +€18,573
- Debts after one year +€61,250
up €61,250 (+20.1%), from €303,996 to €365,246
- Trade debts -€39,973
down €39,973 (-93.6%), from €42,704 to €2,731
- Current portion of long-term debt +€32,953
up €32,953 (+487%), from €6,772 to €39,724
- Tax, wage and social debts +€23,121
up €23,121 (+93.2%), from €24,811 to €47,933
of which Taxes: +€12,448
- Other debts +€19,601
up €19,601 (+18.1%), from €108,553 to €128,155
- Gross operating margin +€49,887
up €49,887 (+94.4%), from €52,823 to €102,709
- Staff costs -€14,353
down €14,353 (-37.1%), from €38,662 to €24,309
- Financial charges -€11,456
down €11,456 (-53.0%), from €21,599 to €10,143
- Depreciation +€7,118
up €7,118 (+15.8%), from €45,189 to €52,307
- Other operating charges -€4,749
down €4,749 (-38.7%), from €12,285 to €7,536
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 | €721,395 | €825,796 | +€104,401 | +14.5% |
| Fixed assets | 21/28 | €537,358 | €565,263 | +€27,904 | +5.2% |
| Tangible fixed assets | 22/27 | €537,358 | €565,263 | +€27,904 | +5.2% |
| Land and buildings | 22 | €531,360 | €561,362 | +€30,002 | +5.6% |
| Furniture and vehicles | 24 | €5,999 | €3,901 | -€2,098 | -35.0% |
| Current assets | 29/58 | €184,037 | €260,533 | +€76,496 | +41.6% |
| Amounts receivable within one year | 40/41 | €88,779 | €112,490 | +€23,711 | +26.7% |
| Trade receivables | 40 | €57,513 | €76,086 | +€18,573 | +32.3% |
| Other amounts receivable | 41 | €31,266 | €36,404 | +€5,138 | +16.4% |
| Cash at bank and in hand | 54/58 | €78,071 | €86,123 | +€8,052 | +10.3% |
| Deferred charges and accrued income | 490/1 | €17,188 | €61,920 | +€44,733 | +260% |
| Total equity and liabilities | 10/49 | €721,395 | €825,796 | +€104,401 | +14.5% |
| Equity | 10/15 | €234,560 | €242,008 | +€7,448 | +3.2% |
| Reserves | 13 | €94,071 | €101,519 | +€7,448 | +7.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €92,211 | €99,659 | +€7,448 | +8.1% |
| Profit (loss) carried forward | 14 | €140,489 | €140,489 | = | 0.0% |
| Amounts payable | 17/49 | €486,835 | €583,788 | +€96,953 | +19.9% |
| Amounts payable after more than one year | 17 | €303,996 | €365,246 | +€61,250 | +20.1% |
| Financial debts | 170/4 | €303,996 | €365,246 | +€61,250 | +20.1% |
| Amounts payable within one year | 42/48 | €182,840 | €218,542 | +€35,703 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €6,772 | €39,724 | +€32,953 | +487% |
| Trade debts | 44 | €42,704 | €2,731 | -€39,973 | -93.6% |
| Suppliers | 440/4 | €42,704 | €2,731 | -€39,973 | -93.6% |
| Taxes, remuneration and social security | 45 | €24,811 | €47,933 | +€23,121 | +93.2% |
| Taxes | 450/3 | €18,888 | €31,336 | +€12,448 | +65.9% |
| Remuneration and social security | 454/9 | €5,923 | €16,596 | +€10,673 | +180% |
| Other amounts payable | 47/48 | €108,553 | €128,155 | +€19,601 | +18.1% |
| Remuneration, social security and pensions | 62 | €38,662 | €24,309 | -€14,353 | -37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,189 | €52,307 | +€7,118 | +15.8% |
| Other operating charges | 640/8 | €12,285 | €7,536 | -€4,749 | -38.7% |
| Non-recurring operating charges | 66A | €6,079 | - | -€6,079 | |
| Gross operating margin | 9900 | €52,823 | €102,709 | +€49,887 | +94.4% |
| Operating profit (loss) | 9901 | -€49,394 | €18,556 | +€67,950 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €21,599 | €10,143 | -€11,456 | -53.0% |
| Recurring financial charges | 65 | €21,599 | €10,143 | -€11,456 | -53.0% |
| Profit (loss) for the period before taxes | 9903 | -€70,993 | €8,414 | +€79,407 | |
| Income taxes | 67/77 | €189 | €967 | +€777 | +410% |
| Profit (loss) for the period | 9904 | -€71,183 | €7,448 | +€78,630 | |
| Profit (loss) for the period to be appropriated | 9905 | -€71,183 | €7,448 | +€78,630 |
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.