BUS TO BE: 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 TO BE
Largest movements
- Receivables within one year +€122,399
up €122,399 (+51.6%), from €237,301 to €359,699
of which Trade receivables: +€128,590
- Tangible fixed assets -€37,912
down €37,912 (-18.7%), from €203,005 to €165,093
of which Furniture and vehicles: -€46,827
- Deferred charges and accrued income -€15,763
down €15,763 (-68.5%), from €23,014 to €7,252
- Cash +€8,146
up €8,146 (+140%), from €5,830 to €13,976
mainly Advances received (+€128,260) and Depreciation (+€54,962)
- Advances received +€128,260
up €128,260 (+1,388%), from €9,241 to €137,501
- Profit (loss) carried forward -€80,048
down €80,048, from €53,555 to -€26,493
- Other debts +€29,881
up €29,881 (+27.6%), from €108,320 to €138,201
- Staff costs +€114,817
up €114,817 (+40.3%), from €284,607 to €399,424
- Gross operating margin +€98,718
up €98,718 (+27.6%), from €357,265 to €455,983
- Other operating charges +€32,020
up €32,020 (+170%), from €18,819 to €50,839
- Depreciation -€21,771
down €21,771 (-28.4%), from €76,733 to €54,962
- Financial charges +€18,738
up €18,738 (+963%), from €1,947 to €20,685
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 | €475,685 | €552,960 | +€77,275 | +16.2% |
| Fixed assets | 21/28 | €209,540 | €172,033 | -€37,507 | -17.9% |
| Tangible fixed assets | 22/27 | €203,005 | €165,093 | -€37,912 | -18.7% |
| Plant, machinery and equipment | 23 | €8,677 | €14,772 | +€6,094 | +70.2% |
| Furniture and vehicles | 24 | €193,595 | €146,768 | -€46,827 | -24.2% |
| Other tangible fixed assets | 26 | €733 | €3,553 | +€2,820 | +385% |
| Financial fixed assets | 28 | €6,536 | €6,941 | +€405 | +6.2% |
| Current assets | 29/58 | €266,145 | €380,927 | +€114,782 | +43.1% |
| Amounts receivable within one year | 40/41 | €237,301 | €359,699 | +€122,399 | +51.6% |
| Trade receivables | 40 | €229,653 | €358,243 | +€128,590 | +56.0% |
| Other amounts receivable | 41 | €7,648 | €1,456 | -€6,192 | -81.0% |
| Cash at bank and in hand | 54/58 | €5,830 | €13,976 | +€8,146 | +140% |
| Deferred charges and accrued income | 490/1 | €23,014 | €7,252 | -€15,763 | -68.5% |
| Total equity and liabilities | 10/49 | €475,685 | €552,960 | +€77,275 | +16.2% |
| Equity | 10/15 | €61,369 | -€18,679 | -€80,048 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,614 | €1,614 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,614 | €1,614 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,614 | €1,614 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,555 | -€26,493 | -€80,048 | |
| Amounts payable | 17/49 | €414,316 | €571,639 | +€157,323 | +38.0% |
| Amounts payable within one year | 42/48 | €414,316 | €571,639 | +€157,323 | +38.0% |
| Trade debts | 44 | €166,913 | €161,709 | -€5,205 | -3.1% |
| Suppliers | 440/4 | €166,913 | €161,709 | -€5,205 | -3.1% |
| Advances received on contracts in progress | 46 | €9,241 | €137,501 | +€128,260 | +1,388% |
| Taxes, remuneration and social security | 45 | €129,842 | €134,228 | +€4,386 | +3.4% |
| Taxes | 450/3 | €72,965 | €42,089 | -€30,876 | -42.3% |
| Remuneration and social security | 454/9 | €56,877 | €92,138 | +€35,262 | +62.0% |
| Other amounts payable | 47/48 | €108,320 | €138,201 | +€29,881 | +27.6% |
| Non-recurring operating income | 76A | - | €6,564 | +€6,564 | |
| Remuneration, social security and pensions | 62 | €284,607 | €399,424 | +€114,817 | +40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,733 | €54,962 | -€21,771 | -28.4% |
| Other operating charges | 640/8 | €18,819 | €50,839 | +€32,020 | +170% |
| Non-recurring operating charges | 66A | €1,070 | €10,392 | +€9,321 | +871% |
| Gross operating margin | 9900 | €357,265 | €455,983 | +€98,718 | +27.6% |
| Operating profit (loss) | 9901 | -€23,965 | -€59,633 | -€35,668 | -149% |
| Financial income | 75/76B | - | €271 | +€271 | |
| Recurring financial income | 75 | - | €271 | +€271 | |
| Financial charges | 65/66B | €1,947 | €20,685 | +€18,738 | +963% |
| Recurring financial charges | 65 | €1,947 | €20,685 | +€18,738 | +963% |
| Profit (loss) for the period before taxes | 9903 | -€25,911 | -€80,048 | -€54,136 | -209% |
| Income taxes | 67/77 | €10,396 | - | -€10,396 | |
| Profit (loss) for the period | 9904 | -€36,308 | -€80,048 | -€43,740 | -120% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,308 | -€80,048 | -€43,740 | -120% |
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 21 October 2026 via checked.be.