Burgundy & Veller: 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.
Burgundy & Veller
Largest movements
- Cash -€79,135
down €79,135 (-92.9%), from €85,188 to €6,053
mainly Contributions, distributions and other (-€145,556) and Tax, wage and social debts (-€12,091)
- Receivables within one year -€13,605
down €13,605 (-16.8%), from €80,988 to €67,383
of which Other amounts receivable: -€37,321
- Tangible fixed assets +€2,388
new in 2025: €2,388
- Profit (loss) carried forward -€91,206
down €91,206 (-62.7%), from €145,556 to €54,350
- Trade debts +€13,631
up €13,631 (+2,067%), from €659 to €14,290
- Tax, wage and social debts -€12,091
down €12,091 (-68.0%), from €17,789 to €5,699
of which Taxes: -€10,991
- Gross operating margin +€2,972
up €2,972 (+4.5%), from €66,385 to €69,356
- Taxes +€1,314
up €1,314 (+9.5%), from €13,837 to €15,150
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 | €167,692 | €77,339 | -€90,353 | -53.9% |
| Fixed assets | 21/28 | - | €2,388 | +€2,388 | |
| Tangible fixed assets | 22/27 | - | €2,388 | +€2,388 | |
| Furniture and vehicles | 24 | - | €2,388 | +€2,388 | |
| Current assets | 29/58 | €167,692 | €74,952 | -€92,740 | -55.3% |
| Amounts receivable within one year | 40/41 | €80,988 | €67,383 | -€13,605 | -16.8% |
| Trade receivables | 40 | - | €23,716 | +€23,716 | |
| Other amounts receivable | 41 | €80,988 | €43,667 | -€37,321 | -46.1% |
| Current investments | 50/53 | €1,516 | €1,516 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €85,188 | €6,053 | -€79,135 | -92.9% |
| Total equity and liabilities | 10/49 | €167,692 | €77,339 | -€90,353 | -53.9% |
| Equity | 10/15 | €148,556 | €57,350 | -€91,206 | -61.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €145,556 | €54,350 | -€91,206 | -62.7% |
| Amounts payable | 17/49 | €19,136 | €19,989 | +€853 | +4.5% |
| Amounts payable within one year | 42/48 | €19,136 | €19,989 | +€853 | +4.5% |
| Trade debts | 44 | €659 | €14,290 | +€13,631 | +2,067% |
| Suppliers | 440/4 | €659 | €14,290 | +€13,631 | +2,067% |
| Taxes, remuneration and social security | 45 | €17,789 | €5,699 | -€12,091 | -68.0% |
| Taxes | 450/3 | €16,689 | €5,699 | -€10,991 | -65.9% |
| Remuneration and social security | 454/9 | €1,100 | - | -€1,100 | |
| Other amounts payable | 47/48 | €687 | - | -€687 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €358 | +€358 | |
| Other operating charges | 640/8 | - | €145 | +€145 | |
| Gross operating margin | 9900 | €66,385 | €69,356 | +€2,972 | +4.5% |
| Operating profit (loss) | 9901 | €66,385 | €68,853 | +€2,469 | +3.7% |
| Financial income | 75/76B | €88 | €687 | +€600 | +685% |
| Recurring financial income | 75 | €88 | €687 | +€600 | +685% |
| Financial charges | 65/66B | €44 | €40 | -€3 | -7.1% |
| Recurring financial charges | 65 | €44 | €40 | -€3 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €66,429 | €69,501 | +€3,072 | +4.6% |
| Income taxes | 67/77 | €13,837 | €15,150 | +€1,314 | +9.5% |
| Profit (loss) for the period | 9904 | €52,592 | €54,350 | +€1,758 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,592 | €54,350 | +€1,758 | +3.3% |
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 19 October 2026 via checked.be.