Bussels: 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.
Bussels
Largest movements
- Receivables after one year -€79,301
no longer reported in 2025 (was €79,301)
- Tangible fixed assets -€27,742
down €27,742 (-9.4%), from €295,472 to €267,730
of which Land and buildings: -€17,331
- Receivables within one year -€17,716
down €17,716 (-37.8%), from €46,832 to €29,116
of which Trade receivables: -€15,360
- Cash -€13,601
down €13,601 (-26.4%), from €51,559 to €37,958
mainly Contributions, distributions and other (-€138,000) and Current portion of long-term debt (-€34,752)
- Deferred charges and accrued income -€6,217
down €6,217 (-58.0%), from €10,713 to €4,495
- Reserves -€131,750
down €131,750 (-60.3%), from €218,600 to €86,850
- Other debts +€35,830
new in 2025: €35,830
- Current portion of long-term debt -€34,752
down €34,752 (-65.6%), from €52,984 to €18,232
- Debts after one year -€18,232
down €18,232 (-8.8%), from €207,240 to €189,007
- Trade debts +€5,674
up €5,674 (+33.1%), from €17,124 to €22,798
- Financial charges +€12,603
up €12,603 (+221%), from €5,714 to €18,317
- Gross operating margin +€6,235
up €6,235 (+5.2%), from €120,026 to €126,261
- Staff costs +€3,104
up €3,104 (+4.8%), from €64,817 to €67,921
- Taxes -€2,585
down €2,585 (-41.8%), from €6,188 to €3,603
- Financial income -€1,568
down €1,568 (-53.4%), from €2,935 to €1,367
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 | €509,888 | €368,526 | -€141,363 | -27.7% |
| Fixed assets | 21/28 | €295,472 | €267,730 | -€27,742 | -9.4% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €295,472 | €267,730 | -€27,742 | -9.4% |
| Land and buildings | 22 | €274,664 | €257,333 | -€17,331 | -6.3% |
| Plant, machinery and equipment | 23 | €7,081 | €4,178 | -€2,903 | -41.0% |
| Furniture and vehicles | 24 | €8,077 | €5,712 | -€2,364 | -29.3% |
| Leasing and similar rights | 25 | €5,651 | €507 | -€5,144 | -91.0% |
| Current assets | 29/58 | €214,416 | €100,795 | -€113,620 | -53.0% |
| Amounts receivable after more than one year | 29 | €79,301 | - | -€79,301 | |
| Other amounts receivable | 291 | €79,301 | - | -€79,301 | |
| Stocks and contracts in progress | 3 | €26,011 | €29,227 | +€3,215 | +12.4% |
| Stocks | 30/36 | €26,011 | €29,227 | +€3,215 | +12.4% |
| Amounts receivable within one year | 40/41 | €46,832 | €29,116 | -€17,716 | -37.8% |
| Trade receivables | 40 | €36,488 | €21,127 | -€15,360 | -42.1% |
| Other amounts receivable | 41 | €10,345 | €7,989 | -€2,356 | -22.8% |
| Cash at bank and in hand | 54/58 | €51,559 | €37,958 | -€13,601 | -26.4% |
| Deferred charges and accrued income | 490/1 | €10,713 | €4,495 | -€6,217 | -58.0% |
| Total equity and liabilities | 10/49 | €509,888 | €368,526 | -€141,363 | -27.7% |
| Equity | 10/15 | €230,017 | €98,292 | -€131,725 | -57.3% |
| Contributions | 10/11 | €9,860 | €9,860 | = | 0.0% |
| Reserves | 13 | €218,600 | €86,850 | -€131,750 | -60.3% |
| Distributable reserves | 133 | €218,600 | €86,850 | -€131,750 | -60.3% |
| Profit (loss) carried forward | 14 | €1,557 | €1,582 | +€25 | +1.6% |
| Amounts payable | 17/49 | €279,871 | €270,234 | -€9,638 | -3.4% |
| Amounts payable after more than one year | 17 | €207,240 | €189,007 | -€18,232 | -8.8% |
| Financial debts | 170/4 | €207,240 | €189,007 | -€18,232 | -8.8% |
| Amounts payable within one year | 42/48 | €72,632 | €81,226 | +€8,595 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | €52,984 | €18,232 | -€34,752 | -65.6% |
| Trade debts | 44 | €17,124 | €22,798 | +€5,674 | +33.1% |
| Suppliers | 440/4 | €17,124 | €22,798 | +€5,674 | +33.1% |
| Taxes, remuneration and social security | 45 | €2,524 | €4,366 | +€1,843 | +73.0% |
| Remuneration and social security | 454/9 | €2,524 | €4,366 | +€1,843 | +73.0% |
| Other amounts payable | 47/48 | - | €35,830 | +€35,830 | |
| Remuneration, social security and pensions | 62 | €64,817 | €67,921 | +€3,104 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,464 | €28,015 | -€449 | -1.6% |
| Other operating charges | 640/8 | €4,060 | €3,497 | -€563 | -13.9% |
| Gross operating margin | 9900 | €120,026 | €126,261 | +€6,235 | +5.2% |
| Operating profit (loss) | 9901 | €22,686 | €26,829 | +€4,143 | +18.3% |
| Financial income | 75/76B | €2,935 | €1,367 | -€1,568 | -53.4% |
| Recurring financial income | 75 | €2,935 | €1,367 | -€1,568 | -53.4% |
| Financial charges | 65/66B | €5,714 | €18,317 | +€12,603 | +221% |
| Recurring financial charges | 65 | €5,714 | €18,317 | +€12,603 | +221% |
| Profit (loss) for the period before taxes | 9903 | €19,907 | €9,878 | -€10,029 | -50.4% |
| Income taxes | 67/77 | €6,188 | €3,603 | -€2,585 | -41.8% |
| Profit (loss) for the period | 9904 | €13,719 | €6,275 | -€7,444 | -54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,719 | €6,275 | -€7,444 | -54.3% |
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 14 October 2026 via checked.be.