BUVENS: 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.
BUVENS
Largest movements
- Receivables within one year +€266,129
up €266,129 (+20.9%), from €1.3m to €1.5m
of which Trade receivables: +€260,755
- Tangible fixed assets +€176,091
up €176,091 (+29.7%), from €593,220 to €769,311
of which Assets under construction and advance payments: +€205,157
- Cash -€141,278
down €141,278 (-78.0%), from €181,086 to €39,808
mainly Investment in fixed assets (net) (-€284,480) and Receivables within one year (-€266,129)
- Deferred charges and accrued income +€44,330
up €44,330 (+46.7%), from €94,845 to €139,175
- Trade debts +€388,618
up €388,618 (+91.1%), from €426,493 to €815,110
- Debts after one year -€49,804
down €49,804 (-4.5%), from €1.1m to €1.1m
- Profit (loss) carried forward -€40,617
down €40,617 (-2.9%), from €1.4m to €1.4m
- Gross operating margin +€248,542
up €248,542 (+47.4%), from €524,282 to €772,824
- Staff costs +€232,892
up €232,892 (+50.9%), from €457,386 to €690,278
- Financial income +€51,059
up €51,059 (+210.5%), from €24,258 to €75,317
- Financial charges +€30,271
up €30,271 (+132.3%), from €22,878 to €53,150
- Taxes +€20,415
up €20,415, from -€9,000 to €11,415
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 | €3,517,479 | €3,859,466 | +€341,987 | +9.7% |
| Fixed assets | 21/28 | €593,220 | €769,311 | +€176,091 | +29.7% |
| Tangible fixed assets | 22/27 | €593,220 | €769,311 | +€176,091 | +29.7% |
| Land and buildings | 22 | €119,600 | €112,078 | -€7,522 | -6.3% |
| Plant, machinery and equipment | 23 | €465,783 | €424,262 | -€41,521 | -8.9% |
| Furniture and vehicles | 24 | €7,836 | €27,814 | +€19,978 | +254.9% |
| Assets under construction and advance payments | 27 | - | €205,157 | +€205,157 | |
| Current assets | 29/58 | €2,924,259 | €3,090,155 | +€165,895 | +5.7% |
| Amounts receivable after more than one year | 29 | €1,000,000 | €1,000,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,000,000 | €1,000,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €375,597 | €372,312 | -€3,286 | -0.9% |
| Stocks | 30/36 | €375,597 | €372,312 | -€3,286 | -0.9% |
| Amounts receivable within one year | 40/41 | €1,272,730 | €1,538,860 | +€266,129 | +20.9% |
| Trade receivables | 40 | €274,561 | €535,317 | +€260,755 | +95.0% |
| Other amounts receivable | 41 | €998,169 | €1,003,543 | +€5,374 | +0.5% |
| Cash at bank and in hand | 54/58 | €181,086 | €39,808 | -€141,278 | -78.0% |
| Deferred charges and accrued income | 490/1 | €94,845 | €139,175 | +€44,330 | +46.7% |
| Total equity and liabilities | 10/49 | €3,517,479 | €3,859,466 | +€341,987 | +9.7% |
| Equity | 10/15 | €1,818,211 | €1,777,594 | -€40,617 | -2.2% |
| Contributions | 10/11 | €161,131 | €161,131 | = | 0.0% |
| Capital | 10 | €161,131 | €161,131 | = | 0.0% |
| Issued capital | 100 | €161,131 | €161,131 | = | 0.0% |
| Reserves | 13 | €250,026 | €250,026 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,113 | €16,113 | = | 0.0% |
| Legal reserve | 130 | €16,113 | €16,113 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €215,163 | €215,163 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,407,053 | €1,366,437 | -€40,617 | -2.9% |
| Amounts payable | 17/49 | €1,699,268 | €2,081,872 | +€382,603 | +22.5% |
| Amounts payable after more than one year | 17 | €1,115,612 | €1,065,809 | -€49,804 | -4.5% |
| Financial debts | 170/4 | €1,115,612 | €1,065,809 | -€49,804 | -4.5% |
| Amounts payable within one year | 42/48 | €583,656 | €1,016,063 | +€432,407 | +74.1% |
| Current portion of amounts payable after more than one year | 42 | €55,077 | €53,254 | -€1,823 | -3.3% |
| Financial debts | 43 | - | €34,621 | +€34,621 | |
| Credit institutions | 430/8 | - | €34,621 | +€34,621 | |
| Trade debts | 44 | €426,493 | €815,110 | +€388,618 | +91.1% |
| Suppliers | 440/4 | €426,493 | €815,110 | +€388,618 | +91.1% |
| Taxes, remuneration and social security | 45 | €102,086 | €107,094 | +€5,008 | +4.9% |
| Taxes | 450/3 | €2,808 | €4,313 | +€1,505 | +53.6% |
| Remuneration and social security | 454/9 | €99,278 | €102,781 | +€3,503 | +3.5% |
| Other amounts payable | 47/48 | - | €5,984 | +€5,984 | |
| Non-recurring operating income | 76A | - | €300 | +€300 | |
| Remuneration, social security and pensions | 62 | €457,386 | €690,278 | +€232,892 | +50.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,860 | €108,389 | +€16,529 | +18.0% |
| Other operating charges | 640/8 | €19,002 | €25,526 | +€6,524 | +34.3% |
| Gross operating margin | 9900 | €524,282 | €772,824 | +€248,542 | +47.4% |
| Operating profit (loss) | 9901 | -€43,966 | -€51,369 | -€7,402 | -16.8% |
| Financial income | 75/76B | €24,258 | €75,317 | +€51,059 | +210.5% |
| Recurring financial income | 75 | €24,258 | €75,317 | +€51,059 | +210.5% |
| Financial charges | 65/66B | €22,878 | €53,150 | +€30,271 | +132.3% |
| Recurring financial charges | 65 | €22,878 | €53,150 | +€30,271 | +132.3% |
| Profit (loss) for the period before taxes | 9903 | -€42,586 | -€29,201 | +€13,385 | +31.4% |
| Income taxes | 67/77 | -€9,000 | €11,415 | +€20,415 | |
| Profit (loss) for the period | 9904 | -€33,586 | -€40,617 | -€7,030 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,586 | -€40,617 | -€7,030 | -20.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.