BUSCH: what changed
Two fiscal 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
BUSCH
NACE 46.645, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€881,985
2024 · €853,813+€28,171
Equity
€4.1m
2024 · €5.2m-€1.1m
Cash
€1.7m
2024 · €671,469+€987,039
Balance sheet total
€5.4m
2024 · €6.4m-€971,222
Largest movements
Assets
- Receivables within one year -€1.9m
down €1.9m (-51.2%), from €3.7m to €1.8m
of which Other amounts receivable: -€2.0m
- Cash +€987,039
up €987,039 (+147.0%), from €671,469 to €1.7m
mainly Receivables within one year (+€1.9m) and Net result for the year (+€881,985)
Equity and liabilities
- Profit (loss) carried forward -€1.1m
down €1.1m (-22.5%), from €5.0m to €3.9m
- Tax, wage and social debts +€81,618
up €81,618 (+20.3%), from €402,126 to €483,744
of which Taxes: +€72,021
- Trade debts +€70,308
up €70,308 (+9.5%), from €737,602 to €807,910
Income statement
- Staff costs +€138,946
up €138,946 (+5.4%), from €2.6m to €2.7m
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
€853,813
Turnover
+€84,407
Other operating income
+€6,135
Goods and materials
-€19,068
Services and other goods
+€75,998
Staff costs
-€138,946
Depreciation
-€30,588
Write-downs
+€38,018
Provisions
-€2,620
Other operating charges
+€13,772
Other operating items
+€9,450
Financial income
+€2,980
Financial charges
-€753
Taxes
-€10,613
Result 2025
€881,985
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
+€3.1m
Investment
-€137,916
Financing
-€2.0m
Cash 2024
€671,469
From operations (derived)
+€3.1m
Net result for the year
+€881,985
Depreciation
+€158,910
Stocks and contracts
+€52,822
Receivables within one year
+€1.9m
Deferred charges and accrued income
-€14,044
Smaller working-capital items
+€2,368
Trade debts
+€70,308
Tax, wage and social debts
+€81,618
Investment (derived)
-€137,916
Investment in fixed assets (net)
-€137,916
Financing
-€2.0m
Contributions, distributions and other
-€2.0m
Cash 2025
€1.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,363,181 | €5,391,959 | -€971,222 | -15.3% |
| Fixed assets | 21/28 | €742,514 | €721,519 | -€20,994 | -2.8% |
| Intangible fixed assets | 21 | €14,926 | €55,922 | +€40,996 | +274.7% |
| Tangible fixed assets | 22/27 | €727,588 | €665,597 | -€61,991 | -8.5% |
| Land and buildings | 22 | €346,837 | €318,767 | -€28,071 | -8.1% |
| Plant, machinery and equipment | 23 | €105,496 | €101,174 | -€4,323 | -4.1% |
| Furniture and vehicles | 24 | €275,254 | €245,657 | -€29,597 | -10.8% |
| Current assets | 29/58 | €5,620,668 | €4,670,440 | -€950,228 | -16.9% |
| Stocks and contracts in progress | 3 | €1,223,072 | €1,170,250 | -€52,822 | -4.3% |
| Stocks | 30/36 | €1,223,072 | €1,170,250 | -€52,822 | -4.3% |
| Goods purchased for resale | 34 | €1,223,072 | €1,170,250 | -€52,822 | -4.3% |
| Amounts receivable within one year | 40/41 | €3,704,441 | €1,805,952 | -€1.9m | -51.2% |
| Trade receivables | 40 | €1,702,829 | €1,795,644 | +€92,814 | +5.5% |
| Other amounts receivable | 41 | €2,001,611 | €10,308 | -€2.0m | -99.5% |
| Cash at bank and in hand | 54/58 | €671,469 | €1,658,508 | +€987,039 | +147.0% |
| Deferred charges and accrued income | 490/1 | €21,687 | €35,731 | +€14,044 | +64.8% |
| Total equity and liabilities | 10/49 | €6,363,181 | €5,391,959 | -€971,222 | -15.3% |
| Equity | 10/15 | €5,211,773 | €4,086,257 | -€1.1m | -21.6% |
| Contributions | 10/11 | €180,962 | €180,962 | = | 0.0% |
| Capital | 10 | €180,962 | €180,962 | = | 0.0% |
| Issued capital | 100 | €180,962 | €180,962 | = | 0.0% |
| Reserves | 13 | €18,096 | €18,096 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,096 | €18,096 | = | 0.0% |
| Legal reserve | 130 | €18,096 | €18,096 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,012,714 | €3,887,199 | -€1.1m | -22.5% |
| Provisions and deferred taxes | 16 | €11,558 | €13,733 | +€2,175 | +18.8% |
| Provisions for liabilities and charges | 160/5 | €11,558 | €13,733 | +€2,175 | +18.8% |
| Other liabilities and charges | 164/5 | €11,558 | €13,733 | +€2,175 | +18.8% |
| Amounts payable | 17/49 | €1,139,851 | €1,291,969 | +€152,118 | +13.3% |
| Amounts payable within one year | 42/48 | €1,139,851 | €1,291,969 | +€152,118 | +13.3% |
| Trade debts | 44 | €737,602 | €807,910 | +€70,308 | +9.5% |
| Suppliers | 440/4 | €737,602 | €807,910 | +€70,308 | +9.5% |
| Taxes, remuneration and social security | 45 | €402,126 | €483,744 | +€81,618 | +20.3% |
| Taxes | 450/3 | €139,528 | €211,549 | +€72,021 | +51.6% |
| Remuneration and social security | 454/9 | €262,598 | €272,195 | +€9,597 | +3.7% |
| Other amounts payable | 47/48 | €123 | €315 | +€192 | +156.4% |
| Operating income | 70/76A | €9,419,138 | €9,519,130 | +€99,992 | +1.1% |
| Turnover | 70 | €9,367,057 | €9,451,464 | +€84,407 | +0.9% |
| Other operating income | 74 | €48,581 | €54,716 | +€6,135 | +12.6% |
| Non-recurring operating income | 76A | €3,500 | €12,950 | +€9,450 | +270.0% |
| Operating charges | 60/66A | €8,249,079 | €8,312,514 | +€63,435 | +0.8% |
| Goods for resale, raw materials and consumables | 60 | €4,331,310 | €4,350,378 | +€19,068 | +0.4% |
| Purchases | 600/8 | €4,475,947 | €4,298,712 | -€177,235 | -4.0% |
| Change in stocks: decrease (increase) | 609 | -€144,637 | €51,666 | +€196,303 | |
| Services and other goods | 61 | €1,145,430 | €1,069,432 | -€75,998 | -6.6% |
| Remuneration, social security and pensions | 62 | €2,569,669 | €2,708,615 | +€138,946 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,322 | €158,910 | +€30,588 | +23.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €41,987 | €3,969 | -€38,018 | -90.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€445 | €2,175 | +€2,620 | |
| Other operating charges | 640/8 | €32,806 | €19,034 | -€13,772 | -42.0% |
| Operating profit (loss) | 9901 | €1,170,058 | €1,206,616 | +€36,558 | +3.1% |
| Financial income | 75/76B | €6,211 | €9,191 | +€2,980 | +48.0% |
| Recurring financial income | 75 | €6,211 | €9,191 | +€2,980 | +48.0% |
| Income from financial fixed assets | 750 | €6,044 | €8,146 | +€2,102 | +34.8% |
| Income from current assets | 751 | €1 | €1,016 | +€1,015 | +203070.0% |
| Other financial income | 752/9 | €167 | €29 | -€138 | -82.8% |
| Financial charges | 65/66B | €9,450 | €10,203 | +€753 | +8.0% |
| Recurring financial charges | 65 | €9,450 | €10,203 | +€753 | +8.0% |
| Debt charges | 650 | €13 | €27 | +€14 | +106.6% |
| Other financial charges | 652/9 | €9,437 | €10,175 | +€739 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €1,166,820 | €1,205,604 | +€38,784 | +3.3% |
| Income taxes | 67/77 | €313,006 | €323,620 | +€10,613 | +3.4% |
| Taxes | 670/3 | €313,006 | €323,620 | +€10,613 | +3.4% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €853,813 | €881,985 | +€28,171 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €853,813 | €881,985 | +€28,171 | +3.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.