BUYSE BART: 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.
BUYSE BART
Largest movements
- Tangible fixed assets +€98,129
up €98,129 (+11.1%), from €880,152 to €978,281
of which Land and buildings: +€82,355
- Cash +€89,834
up €89,834 (+55.5%), from €161,861 to €251,695
mainly Depreciation (+€146,181) and Net result for the year (+€107,045)
- Stocks and contracts -€31,669
down €31,669 (-69.8%), from €45,380 to €13,711
- Debts after one year +€66,230
up €66,230 (+9.9%), from €668,299 to €734,528
- Reserves +€64,484
up €64,484 (+32.2%), from €200,074 to €264,558
of which Distributable reserves: +€66,344
- Other debts +€19,814
up €19,814 (+237%), from €8,343 to €28,157
- Current portion of long-term debt +€15,358
up €15,358 (+22.4%), from €68,580 to €83,938
- Gross operating margin +€130,761
up €130,761 (+26.7%), from €489,983 to €620,744
- Taxes +€44,518
up €44,518 (+532%), from €8,365 to €52,883
- Staff costs +€18,592
up €18,592 (+6.9%), from €268,187 to €286,779
- Depreciation -€10,722
down €10,722 (-6.8%), from €156,903 to €146,181
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 | €1,155,958 | €1,325,598 | +€169,640 | +14.7% |
| Fixed assets | 21/28 | €880,152 | €978,281 | +€98,129 | +11.1% |
| Tangible fixed assets | 22/27 | €880,152 | €978,281 | +€98,129 | +11.1% |
| Land and buildings | 22 | €780,296 | €862,651 | +€82,355 | +10.6% |
| Plant, machinery and equipment | 23 | €84,158 | €54,064 | -€30,094 | -35.8% |
| Furniture and vehicles | 24 | €15,699 | €61,566 | +€45,867 | +292% |
| Current assets | 29/58 | €275,806 | €347,317 | +€71,511 | +25.9% |
| Stocks and contracts in progress | 3 | €45,380 | €13,711 | -€31,669 | -69.8% |
| Stocks | 30/36 | €45,380 | €13,711 | -€31,669 | -69.8% |
| Amounts receivable within one year | 40/41 | €67,217 | €76,009 | +€8,791 | +13.1% |
| Trade receivables | 40 | €22,177 | €61,044 | +€38,867 | +175% |
| Other amounts receivable | 41 | €45,041 | €14,965 | -€30,076 | -66.8% |
| Cash at bank and in hand | 54/58 | €161,861 | €251,695 | +€89,834 | +55.5% |
| Deferred charges and accrued income | 490/1 | €1,348 | €5,903 | +€4,555 | +338% |
| Total equity and liabilities | 10/49 | €1,155,958 | €1,325,598 | +€169,640 | +14.7% |
| Equity | 10/15 | €285,837 | €350,321 | +€64,484 | +22.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €200,074 | €264,558 | +€64,484 | +32.2% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €198,214 | €264,558 | +€66,344 | +33.5% |
| Profit (loss) carried forward | 14 | €67,163 | €67,163 | = | 0.0% |
| Amounts payable | 17/49 | €870,121 | €975,277 | +€105,156 | +12.1% |
| Amounts payable after more than one year | 17 | €668,299 | €734,528 | +€66,230 | +9.9% |
| Financial debts | 170/4 | €668,299 | €734,528 | +€66,230 | +9.9% |
| Amounts payable within one year | 42/48 | €196,107 | €240,749 | +€44,642 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €68,580 | €83,938 | +€15,358 | +22.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €76,126 | €77,582 | +€1,457 | +1.9% |
| Suppliers | 440/4 | €76,126 | €77,582 | +€1,457 | +1.9% |
| Taxes, remuneration and social security | 45 | €43,057 | €51,071 | +€8,014 | +18.6% |
| Taxes | 450/3 | €11,167 | €19,799 | +€8,632 | +77.3% |
| Remuneration and social security | 454/9 | €31,891 | €31,273 | -€618 | -1.9% |
| Other amounts payable | 47/48 | €8,343 | €28,157 | +€19,814 | +237% |
| Accrued charges and deferred income | 492/3 | €5,716 | €0 | -€5,716 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €268,187 | €286,779 | +€18,592 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,903 | €146,181 | -€10,722 | -6.8% |
| Other operating charges | 640/8 | €9,367 | €6,629 | -€2,738 | -29.2% |
| Gross operating margin | 9900 | €489,983 | €620,744 | +€130,761 | +26.7% |
| Operating profit (loss) | 9901 | €55,526 | €181,155 | +€125,628 | +226% |
| Financial income | 75/76B | €1,062 | €427 | -€635 | -59.8% |
| Recurring financial income | 75 | €1,062 | €427 | -€635 | -59.8% |
| Financial charges | 65/66B | €26,371 | €21,654 | -€4,718 | -17.9% |
| Recurring financial charges | 65 | €26,371 | €21,654 | -€4,718 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €30,217 | €159,928 | +€129,711 | +429% |
| Income taxes | 67/77 | €8,365 | €52,883 | +€44,518 | +532% |
| Profit (loss) for the period | 9904 | €21,852 | €107,045 | +€85,193 | +390% |
| Profit (loss) for the period to be appropriated | 9905 | €21,852 | €107,045 | +€85,193 | +390% |
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 24 October 2026 via checked.be.