BUS & S: 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.
BUS & S
Largest movements
- Receivables within one year -€69,147
down €69,147 (-58.5%), from €118,199 to €49,052
of which Other amounts receivable: -€37,152
- Cash +€64,682
up €64,682 (+175%), from €37,044 to €101,726
mainly Receivables within one year (+€69,147) and Net result for the year (+€32,012)
- Tangible fixed assets -€24,997
down €24,997 (-4.2%), from €600,772 to €575,775
- Debts after one year -€30,039
down €30,039 (-15.7%), from €191,039 to €161,000
- Reserves -€18,714
down €18,714 (-3.7%), from €505,441 to €486,727
of which Distributable reserves: -€18,714
- Trade debts +€12,739
up €12,739 (+286%), from €4,452 to €17,191
- Gross operating margin +€40,572
up €40,572 (+102%), from €39,972 to €80,544
- Taxes +€11,241
up €11,241 (+703%), from €1,599 to €12,840
- Other operating charges +€1,254
up €1,254 (+26.6%), from €4,708 to €5,962
- Financial charges -€1,007
down €1,007 (-14.2%), from €7,114 to €6,107
- Depreciation -€908
down €908 (-3.5%), from €25,904 to €24,997
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 | €758,298 | €729,219 | -€29,079 | -3.8% |
| Fixed assets | 21/28 | €600,772 | €575,775 | -€24,997 | -4.2% |
| Tangible fixed assets | 22/27 | €600,772 | €575,775 | -€24,997 | -4.2% |
| Land and buildings | 22 | €551,799 | €539,458 | -€12,342 | -2.2% |
| Furniture and vehicles | 24 | €33,734 | €21,850 | -€11,884 | -35.2% |
| Other tangible fixed assets | 26 | €15,239 | €14,467 | -€771 | -5.1% |
| Current assets | 29/58 | €157,526 | €153,444 | -€4,082 | -2.6% |
| Amounts receivable within one year | 40/41 | €118,199 | €49,052 | -€69,147 | -58.5% |
| Trade receivables | 40 | €65,875 | €33,880 | -€31,995 | -48.6% |
| Other amounts receivable | 41 | €52,324 | €15,172 | -€37,152 | -71.0% |
| Cash at bank and in hand | 54/58 | €37,044 | €101,726 | +€64,682 | +175% |
| Deferred charges and accrued income | 490/1 | €2,283 | €2,666 | +€383 | +16.8% |
| Total equity and liabilities | 10/49 | €758,298 | €729,219 | -€29,079 | -3.8% |
| Equity | 10/15 | €511,641 | €492,927 | -€18,714 | -3.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €505,441 | €486,727 | -€18,714 | -3.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €505,441 | €486,727 | -€18,714 | -3.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €246,657 | €236,293 | -€10,365 | -4.2% |
| Amounts payable after more than one year | 17 | €191,039 | €161,000 | -€30,039 | -15.7% |
| Financial debts | 170/4 | €191,039 | €161,000 | -€30,039 | -15.7% |
| Amounts payable within one year | 42/48 | €55,234 | €74,832 | +€19,598 | +35.5% |
| Current portion of amounts payable after more than one year | 42 | €29,956 | €30,039 | +€83 | +0.3% |
| Trade debts | 44 | €4,452 | €17,191 | +€12,739 | +286% |
| Suppliers | 440/4 | €4,452 | €17,191 | +€12,739 | +286% |
| Taxes, remuneration and social security | 45 | €20,826 | €27,601 | +€6,775 | +32.5% |
| Taxes | 450/3 | €20,826 | €27,601 | +€6,775 | +32.5% |
| Accrued charges and deferred income | 492/3 | €384 | €461 | +€77 | +19.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,904 | €24,997 | -€908 | -3.5% |
| Other operating charges | 640/8 | €4,708 | €5,962 | +€1,254 | +26.6% |
| Gross operating margin | 9900 | €39,972 | €80,544 | +€40,572 | +102% |
| Operating profit (loss) | 9901 | €9,359 | €49,585 | +€40,226 | +430% |
| Financial income | 75/76B | €1,490 | €1,374 | -€117 | -7.8% |
| Recurring financial income | 75 | €1,490 | €1,374 | -€117 | -7.8% |
| Financial charges | 65/66B | €7,114 | €6,107 | -€1,007 | -14.2% |
| Recurring financial charges | 65 | €7,114 | €6,107 | -€1,007 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €3,735 | €44,852 | +€41,117 | +1,101% |
| Income taxes | 67/77 | €1,599 | €12,840 | +€11,241 | +703% |
| Profit (loss) for the period | 9904 | €2,136 | €32,012 | +€29,876 | +1,399% |
| Profit (loss) for the period to be appropriated | 9905 | €2,136 | €32,012 | +€29,876 | +1,399% |
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 15 October 2026 via checked.be.