BURO PROJECT: 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.
What changed
BURO PROJECT
NACE 47.551, Retail sale of household furniture
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€609,042
2024 · €1.6m-€964,034
Equity
€2.5m
2024 · €3.9m-€1.4m
Cash
€1.6m
2024 · €1.5m+€128,324
Balance sheet total
€10.1m
2024 · €8.1m+€2.0m
Largest movements
Assets
- Receivables within one year +€2.7m
up €2.7m (+77.0%), from €3.5m to €6.3m
of which Other amounts receivable: +€2.4m
- Stocks and contracts -€971,186
down €971,186 (-42.2%), from €2.3m to €1.3m
- Cash +€128,324
up €128,324 (+8.5%), from €1.5m to €1.6m
mainly Other debts (+€2.0m) and Stocks and contracts (+€971,186)
- Financial fixed assets +€126,028
up €126,028 (+87.1%), from €144,686 to €270,715
Equity and liabilities
- Other debts +€2.0m
up €2.0m, from €0 to €2.0m
- Reserves -€1.4m
down €1.4m (-37.4%), from €3.7m to €2.3m
of which Distributable reserves: -€1.4m
- Trade debts +€500,093
up €500,093 (+39.1%), from €1.3m to €1.8m
- Short-term financial debts +€500,000
new in 2025: €500,000
- Tax, wage and social debts +€310,721
up €310,721 (+49.0%), from €634,204 to €944,925
of which Taxes: +€294,294
Income statement
- Turnover -€1.4m
down €1.4m (-6.5%), from €21.6m to €20.2m
- Goods and materials -€673,879
down €673,879 (-4.6%), from €14.7m to €14.1m
of which Purchases: -€2.6m
- Taxes -€300,494
down €300,494 (-52.5%), from €572,224 to €271,730
of which Taxes: -€300,494
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.
Result 2024
€1.6m
Turnover
-€1.4m
Other operating income
-€125,694
Goods and materials
+€673,879
Services and other goods
-€190,585
Staff costs
-€157,947
Depreciation
-€3,888
Write-downs
-€17,686
Other operating charges
-€16,971
Other operating items
-€3,242
Financial income
+€4,406
Financial charges
-€14,891
Taxes
+€300,494
Result 2025
€609,042
Cash bridge derived
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.
From operations
+€1.9m
Investment
-€241,823
Financing
-€1.5m
Cash 2024
€1.5m
From operations (derived)
+€1.9m
Net result for the year
+€609,042
Depreciation
+€123,536
Stocks and contracts
+€971,186
Receivables within one year
-€2.7m
Deferred charges and accrued income
-€4,432
Trade debts
+€500,093
Tax, wage and social debts
+€310,721
Advances received
+€171,241
Other debts
+€2.0m
Accrued charges and deferred income
-€63,376
Investment (derived)
-€241,823
Investment in fixed assets (net)
-€241,823
Financing
-€1.5m
Current portion of long-term debt
-€15,257
Short-term financial debts
+€500,000
Contributions, distributions and other
-€2.0m
Cash 2025
€1.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,101,404 | €10,113,868 | +€2.0m | +24.8% |
| Fixed assets | 21/28 | €589,448 | €707,735 | +€118,287 | +20.1% |
| Intangible fixed assets | 21 | €79,351 | €59,111 | -€20,240 | -25.5% |
| Tangible fixed assets | 22/27 | €365,410 | €377,910 | +€12,499 | +3.4% |
| Land and buildings | 22 | €71,479 | €124,676 | +€53,197 | +74.4% |
| Plant, machinery and equipment | 23 | €39,696 | €23,333 | -€16,363 | -41.2% |
| Furniture and vehicles | 24 | €45,069 | €45,618 | +€549 | +1.2% |
| Other tangible fixed assets | 26 | €209,166 | €184,282 | -€24,884 | -11.9% |
| Financial fixed assets | 28 | €144,686 | €270,715 | +€126,028 | +87.1% |
| Other financial fixed assets | 284/8 | €144,686 | €270,715 | +€126,028 | +87.1% |
| Amounts receivable and cash guarantees | 285/8 | €144,686 | €270,715 | +€126,028 | +87.1% |
| Current assets | 29/58 | €7,511,956 | €9,406,133 | +€1.9m | +25.2% |
| Stocks and contracts in progress | 3 | €2,298,799 | €1,327,613 | -€971,186 | -42.2% |
| Stocks | 30/36 | €2,298,799 | €1,327,613 | -€971,186 | -42.2% |
| Goods purchased for resale | 34 | €2,298,799 | €1,327,613 | -€971,186 | -42.2% |
| Amounts receivable within one year | 40/41 | €3,548,990 | €6,281,596 | +€2.7m | +77.0% |
| Trade receivables | 40 | €3,484,154 | €3,782,096 | +€297,943 | +8.6% |
| Other amounts receivable | 41 | €64,836 | €2,499,500 | +€2.4m | +3755.1% |
| Current investments | 50/53 | €78,400 | €78,400 | = | 0.0% |
| Other investments | 51/53 | €78,400 | €78,400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,516,654 | €1,644,978 | +€128,324 | +8.5% |
| Deferred charges and accrued income | 490/1 | €69,113 | €73,545 | +€4,432 | +6.4% |
| Total equity and liabilities | 10/49 | €8,101,404 | €10,113,868 | +€2.0m | +24.8% |
| Equity | 10/15 | €3,903,432 | €2,512,474 | -€1.4m | -35.6% |
| Contributions | 10/11 | €187,200 | €187,200 | = | 0.0% |
| Capital | 10 | €187,200 | €187,200 | = | 0.0% |
| Issued capital | 100 | €187,200 | €187,200 | = | 0.0% |
| Reserves | 13 | €3,715,298 | €2,325,274 | -€1.4m | -37.4% |
| Non-distributable reserves | 130/1 | €18,720 | €18,720 | = | 0.0% |
| Legal reserve | 130 | €18,720 | €18,720 | = | 0.0% |
| Tax-exempt reserves | 132 | €306,510 | €306,510 | = | 0.0% |
| Distributable reserves | 133 | €3,390,067 | €2,000,044 | -€1.4m | -41.0% |
| Profit (loss) carried forward | 14 | €934 | €0 | -€934 | -100.0% |
| Amounts payable | 17/49 | €4,197,973 | €7,601,394 | +€3.4m | +81.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Credit institutions | 173 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €4,035,841 | €7,502,639 | +€3.5m | +85.9% |
| Current portion of amounts payable after more than one year | 42 | €15,257 | €0 | -€15,257 | -100.0% |
| Financial debts | 43 | - | €500,000 | +€500,000 | |
| Credit institutions | 430/8 | - | €500,000 | +€500,000 | |
| Trade debts | 44 | €1,278,956 | €1,779,049 | +€500,093 | +39.1% |
| Suppliers | 440/4 | €1,278,956 | €1,779,049 | +€500,093 | +39.1% |
| Advances received on contracts in progress | 46 | €2,107,425 | €2,278,665 | +€171,241 | +8.1% |
| Taxes, remuneration and social security | 45 | €634,204 | €944,925 | +€310,721 | +49.0% |
| Taxes | 450/3 | €296,033 | €590,327 | +€294,294 | +99.4% |
| Remuneration and social security | 454/9 | €338,171 | €354,597 | +€16,427 | +4.9% |
| Other amounts payable | 47/48 | €0 | €2,000,000 | +€2.0m | |
| Accrued charges and deferred income | 492/3 | €162,131 | €98,755 | -€63,376 | -39.1% |
| Operating income | 70/76A | €22,011,861 | €20,474,259 | -€1.5m | -7.0% |
| Turnover | 70 | €21,649,145 | €20,237,236 | -€1.4m | -6.5% |
| Other operating income | 74 | €362,717 | €237,023 | -€125,694 | -34.7% |
| Operating charges | 60/66A | €19,836,253 | €19,552,692 | -€283,560 | -1.4% |
| Goods for resale, raw materials and consumables | 60 | €14,732,951 | €14,059,072 | -€673,879 | -4.6% |
| Purchases | 600/8 | €15,733,116 | €13,100,326 | -€2.6m | -16.7% |
| Change in stocks: decrease (increase) | 609 | -€1,000,165 | €958,746 | +€2.0m | |
| Services and other goods | 61 | €2,404,823 | €2,595,409 | +€190,585 | +7.9% |
| Remuneration, social security and pensions | 62 | €2,573,857 | €2,731,804 | +€157,947 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,647 | €123,536 | +€3,888 | +3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,245 | €12,440 | +€17,686 | |
| Other operating charges | 640/8 | €10,219 | €27,189 | +€16,971 | +166.1% |
| Non-recurring operating charges | 66A | - | €3,242 | +€3,242 | |
| Operating profit (loss) | 9901 | €2,175,609 | €921,567 | -€1.3m | -57.6% |
| Financial income | 75/76B | €31,056 | €35,462 | +€4,406 | +14.2% |
| Recurring financial income | 75 | €31,056 | €35,462 | +€4,406 | +14.2% |
| Income from financial fixed assets | 750 | €1,221 | €40 | -€1,181 | -96.7% |
| Income from current assets | 751 | €3,525 | €3,194 | -€331 | -9.4% |
| Other financial income | 752/9 | €26,311 | €32,228 | +€5,918 | +22.5% |
| Financial charges | 65/66B | €61,365 | €76,256 | +€14,891 | +24.3% |
| Recurring financial charges | 65 | €61,365 | €76,256 | +€14,891 | +24.3% |
| Debt charges | 650 | €52,235 | €66,341 | +€14,106 | +27.0% |
| Other financial charges | 652/9 | €9,130 | €9,915 | +€786 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €2,145,300 | €880,773 | -€1.3m | -58.9% |
| Income taxes | 67/77 | €572,224 | €271,730 | -€300,494 | -52.5% |
| Taxes | 670/3 | €572,224 | €271,730 | -€300,494 | -52.5% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €1,573,076 | €609,042 | -€964,034 | -61.3% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,573,076 | €609,042 | -€964,034 | -61.3% |
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 11 October 2026 via checked.be.