BUREAU VASSEUR: 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 VASSEUR
Largest movements
- Cash +€49,161
up €49,161 (+35.4%), from €138,931 to €188,091
mainly Net result for the year (+€64,138) and Other debts (+€50,754)
- Receivables within one year +€16,855
up €16,855 (+57.8%), from €29,151 to €46,006
of which Trade receivables: +€14,339
- Other debts +€50,754
up €50,754 (+1,508%), from €3,365 to €54,119
- Reserves +€11,964
up €11,964 (+8.6%), from €139,253 to €151,217
of which Distributable reserves: +€11,964
- Gross operating margin +€15,160
up €15,160 (+19.1%), from €79,537 to €94,696
- Taxes +€4,979
up €4,979 (+23.6%), from €21,093 to €26,071
- Write-downs -€3,860
down €3,860 (-100%), from €3,860 to €0
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 | €181,192 | €246,024 | +€64,832 | +35.8% |
| Fixed assets | 21/28 | €10,167 | €7,926 | -€2,242 | -22.0% |
| Tangible fixed assets | 22/27 | €10,167 | €7,926 | -€2,242 | -22.0% |
| Furniture and vehicles | 24 | €10,167 | €7,926 | -€2,242 | -22.0% |
| Current assets | 29/58 | €171,025 | €238,098 | +€67,073 | +39.2% |
| Amounts receivable within one year | 40/41 | €29,151 | €46,006 | +€16,855 | +57.8% |
| Trade receivables | 40 | €26,667 | €41,006 | +€14,339 | +53.8% |
| Other amounts receivable | 41 | €2,483 | €5,000 | +€2,517 | +101% |
| Cash at bank and in hand | 54/58 | €138,931 | €188,091 | +€49,161 | +35.4% |
| Deferred charges and accrued income | 490/1 | €2,944 | €4,001 | +€1,057 | +35.9% |
| Total equity and liabilities | 10/49 | €181,192 | €246,024 | +€64,832 | +35.8% |
| Equity | 10/15 | €157,803 | €169,767 | +€11,964 | +7.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €139,253 | €151,217 | +€11,964 | +8.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €139,253 | €151,217 | +€11,964 | +8.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,389 | €76,257 | +€52,868 | +226% |
| Amounts payable within one year | 42/48 | €23,389 | €76,257 | +€52,868 | +226% |
| Trade debts | 44 | €1,330 | €3,157 | +€1,827 | +137% |
| Suppliers | 440/4 | €1,330 | €3,157 | +€1,827 | +137% |
| Taxes, remuneration and social security | 45 | €18,694 | €18,981 | +€287 | +1.5% |
| Taxes | 450/3 | €18,694 | €18,981 | +€287 | +1.5% |
| Other amounts payable | 47/48 | €3,365 | €54,119 | +€50,754 | +1,508% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,242 | €2,242 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,860 | €0 | -€3,860 | -100% |
| Other operating charges | 640/8 | €1,408 | €1,624 | +€216 | +15.3% |
| Gross operating margin | 9900 | €79,537 | €94,696 | +€15,160 | +19.1% |
| Operating profit (loss) | 9901 | €72,027 | €90,831 | +€18,804 | +26.1% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €114 | €621 | +€507 | +444% |
| Recurring financial charges | 65 | €114 | €621 | +€507 | +444% |
| Profit (loss) for the period before taxes | 9903 | €71,914 | €90,210 | +€18,296 | +25.4% |
| Income taxes | 67/77 | €21,093 | €26,071 | +€4,979 | +23.6% |
| Profit (loss) for the period | 9904 | €50,821 | €64,138 | +€13,317 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,821 | €64,138 | +€13,317 | +26.2% |
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 28 October 2026 via checked.be.