BUSSCHOTS: 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.
BUSSCHOTS
Largest movements
- Cash +€23,818
up €23,818 (+30.5%), from €78,060 to €101,879
mainly Depreciation (+€17,235) and Receivables within one year (+€6,943)
- Tangible fixed assets -€17,235
down €17,235 (-4.0%), from €426,621 to €409,387
- Receivables within one year -€6,943
down €6,943 (-4.8%), from €144,514 to €137,571
- Current portion of long-term debt -€7,509
down €7,509 (-17.3%), from €43,329 to €35,820
- Taxes -€16,088
down €16,088 (-83.6%), from €19,248 to €3,160
- Financial charges +€6,051
up €6,051 (+88.8%), from €6,813 to €12,864
- Financial income -€2,796
down €2,796 (-28.5%), from €9,813 to €7,018
- Gross operating margin -€2,532
down €2,532 (-8.3%), from €30,540 to €28,008
- Other operating charges -€592
down €592 (-17.6%), from €3,365 to €2,773
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €683,897 | €684,104 | +€207 | 0.0% |
| Fixed assets | 21/28 | €427,021 | €409,787 | -€17,235 | -4.0% |
| Tangible fixed assets | 22/27 | €426,621 | €409,387 | -€17,235 | -4.0% |
| Land and buildings | 22 | €426,621 | €409,387 | -€17,235 | -4.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €256,875 | €274,317 | +€17,441 | +6.8% |
| Amounts receivable after more than one year | 29 | €33,433 | €34,774 | +€1,341 | +4.0% |
| Other amounts receivable | 291 | €33,433 | €34,774 | +€1,341 | +4.0% |
| Amounts receivable within one year | 40/41 | €144,514 | €137,571 | -€6,943 | -4.8% |
| Other amounts receivable | 41 | €144,514 | €137,571 | -€6,943 | -4.8% |
| Cash at bank and in hand | 54/58 | €78,060 | €101,879 | +€23,818 | +30.5% |
| Deferred charges and accrued income | 490/1 | €867 | €93 | -€775 | -89.3% |
| Total equity and liabilities | 10/49 | €683,897 | €684,104 | +€207 | 0.0% |
| Equity | 10/15 | €281,781 | €283,115 | +€1,334 | +0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €219,781 | €221,115 | +€1,334 | +0.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €119,317 | €112,299 | -€7,019 | -5.9% |
| Distributable reserves | 133 | €94,264 | €102,616 | +€8,352 | +8.9% |
| Provisions and deferred taxes | 16 | €39,772 | €37,433 | -€2,340 | -5.9% |
| Deferred taxes | 168 | €39,772 | €37,433 | -€2,340 | -5.9% |
| Amounts payable | 17/49 | €362,343 | €363,556 | +€1,213 | +0.3% |
| Amounts payable after more than one year | 17 | €248,570 | €251,807 | +€3,237 | +1.3% |
| Financial debts | 170/4 | €203,570 | €115,307 | -€88,263 | -43.4% |
| Other amounts payable | 178/9 | €45,000 | €136,500 | +€91,500 | +203.3% |
| Amounts payable within one year | 42/48 | €67,232 | €63,168 | -€4,064 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €43,329 | €35,820 | -€7,509 | -17.3% |
| Trade debts | 44 | €251 | €536 | +€285 | +113.6% |
| Suppliers | 440/4 | €251 | €536 | +€285 | +113.6% |
| Taxes, remuneration and social security | 45 | €19,248 | €22,408 | +€3,160 | +16.4% |
| Taxes | 450/3 | €19,248 | €22,408 | +€3,160 | +16.4% |
| Other amounts payable | 47/48 | €4,404 | €4,404 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €46,541 | €48,581 | +€2,040 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,235 | €17,235 | -€0 | 0.0% |
| Other operating charges | 640/8 | €3,365 | €2,773 | -€592 | -17.6% |
| Gross operating margin | 9900 | €30,540 | €28,008 | -€2,532 | -8.3% |
| Operating profit (loss) | 9901 | €9,941 | €8,000 | -€1,940 | -19.5% |
| Financial income | 75/76B | €9,813 | €7,018 | -€2,796 | -28.5% |
| Recurring financial income | 75 | €9,813 | €7,018 | -€2,796 | -28.5% |
| Financial charges | 65/66B | €6,813 | €12,864 | +€6,051 | +88.8% |
| Recurring financial charges | 65 | €6,813 | €12,864 | +€6,051 | +88.8% |
| Profit (loss) for the period before taxes | 9903 | €12,941 | €2,154 | -€10,787 | -83.4% |
| Transfer from deferred taxes | 780 | €18,698 | €2,340 | -€16,358 | -87.5% |
| Income taxes | 67/77 | €19,248 | €3,160 | -€16,088 | -83.6% |
| Profit (loss) for the period | 9904 | €12,391 | €1,334 | -€11,057 | -89.2% |
| Transfer from tax-exempt reserves | 789 | €56,093 | €7,019 | -€49,075 | -87.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,484 | €8,352 | -€60,132 | -87.8% |
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 30 September 2026 via checked.be.