Busschaert Projects: what changed
Busschaert Projects
Largest movements
- Cash -€60,679
down €60,679 (-54.6%), from €111,174 to €50,495
mainly Trade debts (-€62,207) and Debts after one year (-€21,877)
- Tangible fixed assets -€28,408
down €28,408 (-17.2%), from €165,012 to €136,604
of which Furniture and vehicles: -€20,881
- Receivables within one year +€17,483
up €17,483 (+65.9%), from €26,546 to €44,029
of which Other amounts receivable: +€28,896
- Trade debts -€62,207
down €62,207 (-90.9%), from €68,449 to €6,243
- Reserves +€22,500
up €22,500 (+52.3%), from €43,000 to €65,500
- Debts after one year -€21,877
down €21,877 (-21.0%), from €104,254 to €82,377
- Tax, wage and social debts -€6,247
down €6,247 (-42.5%), from €14,710 to €8,464
of which Taxes: -€6,211
- Other debts -€5,500
down €5,500 (-98.2%), from €5,600 to €100
- Gross operating margin -€36,036
down €36,036 (-22.0%), from €163,806 to €127,770
- Staff costs -€20,075
down €20,075 (-27.4%), from €73,252 to €53,178
- Depreciation +€12,869
up €12,869 (+52.4%), from €24,546 to €37,416
- Taxes -€8,011
down €8,011 (-46.5%), from €17,231 to €9,220
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €304,821 | €231,167 | -€73,654 | -24.2% |
| Fixed assets | 21/28 | €165,012 | €136,604 | -€28,408 | -17.2% |
| Tangible fixed assets | 22/27 | €165,012 | €136,604 | -€28,408 | -17.2% |
| Plant, machinery and equipment | 23 | €47,413 | €39,886 | -€7,526 | -15.9% |
| Furniture and vehicles | 24 | €117,599 | €96,718 | -€20,881 | -17.8% |
| Current assets | 29/58 | €139,809 | €94,563 | -€45,247 | -32.4% |
| Amounts receivable within one year | 40/41 | €26,546 | €44,029 | +€17,483 | +65.9% |
| Trade receivables | 40 | €22,266 | €10,852 | -€11,414 | -51.3% |
| Other amounts receivable | 41 | €4,280 | €33,176 | +€28,896 | +675% |
| Cash at bank and in hand | 54/58 | €111,174 | €50,495 | -€60,679 | -54.6% |
| Deferred charges and accrued income | 490/1 | €2,089 | €39 | -€2,050 | -98.1% |
| Total equity and liabilities | 10/49 | €304,821 | €231,167 | -€73,654 | -24.2% |
| Equity | 10/15 | €87,991 | €110,568 | +€22,577 | +25.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €43,000 | €65,500 | +€22,500 | +52.3% |
| Distributable reserves | 133 | €43,000 | €65,500 | +€22,500 | +52.3% |
| Profit (loss) carried forward | 14 | €39,991 | €40,068 | +€77 | +0.2% |
| Amounts payable | 17/49 | €216,830 | €120,598 | -€96,232 | -44.4% |
| Amounts payable after more than one year | 17 | €104,254 | €82,377 | -€21,877 | -21.0% |
| Financial debts | 170/4 | €104,254 | €82,377 | -€21,877 | -21.0% |
| Amounts payable within one year | 42/48 | €112,576 | €38,210 | -€74,366 | -66.1% |
| Current portion of amounts payable after more than one year | 42 | €23,816 | €23,403 | -€413 | -1.7% |
| Trade debts | 44 | €68,449 | €6,243 | -€62,207 | -90.9% |
| Suppliers | 440/4 | €68,449 | €6,243 | -€62,207 | -90.9% |
| Taxes, remuneration and social security | 45 | €14,710 | €8,464 | -€6,247 | -42.5% |
| Taxes | 450/3 | €12,218 | €6,006 | -€6,211 | -50.8% |
| Remuneration and social security | 454/9 | €2,492 | €2,457 | -€35 | -1.4% |
| Other amounts payable | 47/48 | €5,600 | €100 | -€5,500 | -98.2% |
| Accrued charges and deferred income | 492/3 | - | €12 | +€12 | |
| Remuneration, social security and pensions | 62 | €73,252 | €53,178 | -€20,075 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,546 | €37,416 | +€12,869 | +52.4% |
| Other operating charges | 640/8 | €1,923 | €2,292 | +€369 | +19.2% |
| Gross operating margin | 9900 | €163,806 | €127,770 | -€36,036 | -22.0% |
| Operating profit (loss) | 9901 | €64,085 | €34,885 | -€29,200 | -45.6% |
| Financial income | 75/76B | €493 | €404 | -€89 | -18.1% |
| Recurring financial income | 75 | €493 | €404 | -€89 | -18.1% |
| Financial charges | 65/66B | €3,805 | €3,492 | -€313 | -8.2% |
| Recurring financial charges | 65 | €3,805 | €3,492 | -€313 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €60,773 | €31,797 | -€28,976 | -47.7% |
| Income taxes | 67/77 | €17,231 | €9,220 | -€8,011 | -46.5% |
| Profit (loss) for the period | 9904 | €43,542 | €22,577 | -€20,965 | -48.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,542 | €22,577 | -€20,965 | -48.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.