De Bus: 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.
De Bus
Largest movements
- Tangible fixed assets -€71,011
down €71,011 (-19.0%), from €373,440 to €302,429
of which Other tangible fixed assets: -€43,251
- Intangible fixed assets -€5,000
down €5,000 (-21.1%), from €23,740 to €18,740
- Debts after one year -€49,378
down €49,378 (-15.0%), from €330,245 to €280,867
- Trade debts -€25,174
down €25,174 (-46.0%), from €54,669 to €29,495
- Other debts -€11,197
down €11,197 (-49.1%), from €22,805 to €11,607
- Profit (loss) carried forward +€10,290
up €10,290 (+40.1%), from -€25,629 to -€15,339
- Current portion of long-term debt +€4,773
up €4,773 (+12.6%), from €37,851 to €42,623
- Staff costs -€35,163
down €35,163 (-29.8%), from €118,189 to €83,026
- Gross operating margin -€11,835
down €11,835 (-5.8%), from €205,231 to €193,396
- Depreciation +€8,016
up €8,016 (+10.7%), from €75,177 to €83,193
- Financial charges +€2,272
up €2,272 (+18.0%), from €12,607 to €14,879
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 | €426,789 | €356,139 | -€70,650 | -16.6% |
| Fixed assets | 21/28 | €397,180 | €321,169 | -€76,011 | -19.1% |
| Intangible fixed assets | 21 | €23,740 | €18,740 | -€5,000 | -21.1% |
| Tangible fixed assets | 22/27 | €373,440 | €302,429 | -€71,011 | -19.0% |
| Plant, machinery and equipment | 23 | €94,048 | €74,997 | -€19,051 | -20.3% |
| Furniture and vehicles | 24 | €38,188 | €29,479 | -€8,709 | -22.8% |
| Other tangible fixed assets | 26 | €241,204 | €197,953 | -€43,251 | -17.9% |
| Current assets | 29/58 | €29,609 | €34,971 | +€5,362 | +18.1% |
| Stocks and contracts in progress | 3 | €16,604 | €18,690 | +€2,086 | +12.6% |
| Stocks | 30/36 | €16,604 | €18,690 | +€2,086 | +12.6% |
| Amounts receivable within one year | 40/41 | €8,649 | €10,885 | +€2,236 | +25.9% |
| Trade receivables | 40 | €4,682 | €6,867 | +€2,185 | +46.7% |
| Other amounts receivable | 41 | €3,968 | €4,019 | +€51 | +1.3% |
| Cash at bank and in hand | 54/58 | €4,356 | €5,395 | +€1,040 | +23.9% |
| Total equity and liabilities | 10/49 | €426,789 | €356,139 | -€70,650 | -16.6% |
| Equity | 10/15 | -€24,629 | -€14,339 | +€10,290 | +41.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,629 | -€15,339 | +€10,290 | +40.1% |
| Amounts payable | 17/49 | €451,417 | €370,478 | -€80,939 | -17.9% |
| Amounts payable after more than one year | 17 | €330,245 | €280,867 | -€49,378 | -15.0% |
| Financial debts | 170/4 | €330,245 | €280,867 | -€49,378 | -15.0% |
| Amounts payable within one year | 42/48 | €121,172 | €89,611 | -€31,562 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €37,851 | €42,623 | +€4,773 | +12.6% |
| Financial debts | 43 | - | €3,453 | +€3,453 | |
| Credit institutions | 430/8 | - | €3,453 | +€3,453 | |
| Trade debts | 44 | €54,669 | €29,495 | -€25,174 | -46.0% |
| Suppliers | 440/4 | €54,669 | €29,495 | -€25,174 | -46.0% |
| Taxes, remuneration and social security | 45 | €5,848 | €2,432 | -€3,416 | -58.4% |
| Taxes | 450/3 | €595 | €2,432 | +€1,837 | +308.7% |
| Remuneration and social security | 454/9 | €5,253 | - | -€5,253 | |
| Other amounts payable | 47/48 | €22,805 | €11,607 | -€11,197 | -49.1% |
| Non-recurring operating income | 76A | €9,414 | €2,581 | -€6,833 | -72.6% |
| Remuneration, social security and pensions | 62 | €118,189 | €83,026 | -€35,163 | -29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,177 | €83,193 | +€8,016 | +10.7% |
| Other operating charges | 640/8 | €3,317 | €1,869 | -€1,449 | -43.7% |
| Non-recurring operating charges | 66A | €3,798 | - | -€3,798 | |
| Gross operating margin | 9900 | €205,231 | €193,396 | -€11,835 | -5.8% |
| Operating profit (loss) | 9901 | €4,750 | €25,309 | +€20,559 | +432.8% |
| Financial income | 75/76B | €2 | €21 | +€19 | +1225.2% |
| Recurring financial income | 75 | €2 | €21 | +€19 | +1225.2% |
| Financial charges | 65/66B | €12,607 | €14,879 | +€2,272 | +18.0% |
| Recurring financial charges | 65 | €12,607 | €14,879 | +€2,272 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,856 | €10,450 | +€18,306 | |
| Income taxes | 67/77 | €144 | €160 | +€16 | +10.8% |
| Profit (loss) for the period | 9904 | -€8,001 | €10,290 | +€18,290 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,001 | €10,290 | +€18,290 |
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 8 October 2026 via checked.be.