Bus Solutions: 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 Solutions
Largest movements
- Cash +€43,549
up €43,549 (+80.6%), from €54,017 to €97,566
mainly Net result for the year (+€33,498) and Depreciation (+€21,940)
- Tangible fixed assets -€13,990
down €13,990 (-3.7%), from €378,010 to €364,020
of which Land and buildings: -€12,764
- Stocks and contracts -€9,950
no longer reported in 2025 (was €9,950)
- Receivables within one year -€9,851
down €9,851 (-16.5%), from €59,696 to €49,845
of which Trade receivables: -€9,402
- Reserves +€33,498
up €33,498 (+39.8%), from €84,209 to €117,707
of which Distributable reserves: +€35,358
- Debts after one year -€25,400
down €25,400 (-10.0%), from €254,944 to €229,544
- Trade debts -€12,651
down €12,651 (-52.4%), from €24,133 to €11,483
- Tax, wage and social debts +€10,520
up €10,520 (+28.6%), from €36,773 to €47,294
of which Taxes: +€9,541
- Gross operating margin +€25,377
up €25,377 (+29.4%), from €86,287 to €111,665
- Taxes +€5,856
up €5,856 (+69.9%), from €8,374 to €14,229
- Staff costs +€2,121
up €2,121 (+6.8%), from €31,067 to €33,188
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 | €506,112 | €515,122 | +€9,011 | +1.8% |
| Fixed assets | 21/28 | €380,010 | €366,020 | -€13,990 | -3.7% |
| Tangible fixed assets | 22/27 | €378,010 | €364,020 | -€13,990 | -3.7% |
| Land and buildings | 22 | €355,563 | €342,799 | -€12,764 | -3.6% |
| Plant, machinery and equipment | 23 | €15,697 | €18,712 | +€3,015 | +19.2% |
| Furniture and vehicles | 24 | €6,750 | €2,508 | -€4,242 | -62.8% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €126,101 | €149,103 | +€23,001 | +18.2% |
| Stocks and contracts in progress | 3 | €9,950 | - | -€9,950 | |
| Stocks | 30/36 | €9,950 | - | -€9,950 | |
| Amounts receivable within one year | 40/41 | €59,696 | €49,845 | -€9,851 | -16.5% |
| Trade receivables | 40 | €59,247 | €49,845 | -€9,402 | -15.9% |
| Other amounts receivable | 41 | €449 | - | -€449 | |
| Cash at bank and in hand | 54/58 | €54,017 | €97,566 | +€43,549 | +80.6% |
| Deferred charges and accrued income | 490/1 | €2,439 | €1,692 | -€747 | -30.6% |
| Total equity and liabilities | 10/49 | €506,112 | €515,122 | +€9,011 | +1.8% |
| Equity | 10/15 | €102,809 | €136,307 | +€33,498 | +32.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,209 | €117,707 | +€33,498 | +39.8% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €77,349 | €112,707 | +€35,358 | +45.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €403,303 | €378,815 | -€24,487 | -6.1% |
| Amounts payable after more than one year | 17 | €254,944 | €229,544 | -€25,400 | -10.0% |
| Financial debts | 170/4 | €254,944 | €229,544 | -€25,400 | -10.0% |
| Amounts payable within one year | 42/48 | €148,221 | €148,834 | +€613 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €24,540 | €25,400 | +€860 | +3.5% |
| Trade debts | 44 | €24,133 | €11,483 | -€12,651 | -52.4% |
| Suppliers | 440/4 | €24,133 | €11,483 | -€12,651 | -52.4% |
| Taxes, remuneration and social security | 45 | €36,773 | €47,294 | +€10,520 | +28.6% |
| Taxes | 450/3 | €30,875 | €40,416 | +€9,541 | +30.9% |
| Remuneration and social security | 454/9 | €5,899 | €6,878 | +€979 | +16.6% |
| Other amounts payable | 47/48 | €62,774 | €64,657 | +€1,883 | +3.0% |
| Accrued charges and deferred income | 492/3 | €137 | €437 | +€300 | +218% |
| Non-recurring operating income | 76A | €2,135 | €1,895 | -€240 | -11.2% |
| Remuneration, social security and pensions | 62 | €31,067 | €33,188 | +€2,121 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,015 | €21,940 | +€925 | +4.4% |
| Other operating charges | 640/8 | €4,268 | €3,813 | -€455 | -10.7% |
| Non-recurring operating charges | 66A | €189 | €222 | +€33 | +17.5% |
| Gross operating margin | 9900 | €86,287 | €111,665 | +€25,377 | +29.4% |
| Operating profit (loss) | 9901 | €29,748 | €52,502 | +€22,753 | +76.5% |
| Financial income | 75/76B | €68 | €33 | -€35 | -51.1% |
| Recurring financial income | 75 | €68 | €33 | -€35 | -51.1% |
| Financial charges | 65/66B | €5,142 | €4,807 | -€335 | -6.5% |
| Recurring financial charges | 65 | €5,142 | €4,807 | -€335 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €24,674 | €47,728 | +€23,054 | +93.4% |
| Income taxes | 67/77 | €8,374 | €14,229 | +€5,856 | +69.9% |
| Profit (loss) for the period | 9904 | €16,300 | €33,498 | +€17,198 | +106% |
| Profit (loss) for the period to be appropriated | 9905 | €16,300 | €33,498 | +€17,198 | +106% |
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 17 October 2026 via checked.be.