DEN BUD: 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.
DEN BUD
Largest movements
- Receivables within one year -€7,995
down €7,995 (-20.2%), from €39,534 to €31,539
of which Trade receivables: -€14,422
- Cash +€2,558
up €2,558 (+26.2%), from €9,750 to €12,308
mainly Receivables within one year (+€7,995) and Depreciation (+€1,678)
- Stocks and contracts +€1,391
up €1,391 (+101.8%), from €1,367 to €2,758
- Profit (loss) carried forward -€2,298
down €2,298 (-12.1%), from €19,030 to €16,732
- Tax, wage and social debts -€1,305
down €1,305 (-46.0%), from €2,837 to €1,532
of which Taxes: -€1,475
- Gross operating margin -€25,925
down €25,925 (-99.2%), from €26,139 to €214
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 | €61,341 | €57,321 | -€4,021 | -6.6% |
| Fixed assets | 21/28 | €6,041 | €5,762 | -€279 | -4.6% |
| Tangible fixed assets | 22/27 | €6,041 | €5,762 | -€279 | -4.6% |
| Plant, machinery and equipment | 23 | €5,691 | €5,644 | -€48 | -0.8% |
| Furniture and vehicles | 24 | €349 | €118 | -€231 | -66.2% |
| Current assets | 29/58 | €55,300 | €51,559 | -€3,742 | -6.8% |
| Stocks and contracts in progress | 3 | €1,367 | €2,758 | +€1,391 | +101.8% |
| Stocks | 30/36 | €1,367 | €2,758 | +€1,391 | +101.8% |
| Amounts receivable within one year | 40/41 | €39,534 | €31,539 | -€7,995 | -20.2% |
| Trade receivables | 40 | €28,702 | €14,280 | -€14,422 | -50.2% |
| Other amounts receivable | 41 | €10,832 | €17,259 | +€6,427 | +59.3% |
| Current investments | 50/53 | €4,650 | €4,650 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,750 | €12,308 | +€2,558 | +26.2% |
| Deferred charges and accrued income | 490/1 | - | €304 | +€304 | |
| Total equity and liabilities | 10/49 | €61,341 | €57,321 | -€4,021 | -6.6% |
| Equity | 10/15 | €57,803 | €55,505 | -€2,298 | -4.0% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €18,322 | €18,322 | = | 0.0% |
| Distributable reserves | 133 | €18,322 | €18,322 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,030 | €16,732 | -€2,298 | -12.1% |
| Amounts payable | 17/49 | €3,538 | €1,815 | -€1,723 | -48.7% |
| Amounts payable within one year | 42/48 | €3,538 | €1,815 | -€1,723 | -48.7% |
| Trade debts | 44 | €701 | €283 | -€418 | -59.6% |
| Suppliers | 440/4 | €701 | €283 | -€418 | -59.6% |
| Taxes, remuneration and social security | 45 | €2,837 | €1,532 | -€1,305 | -46.0% |
| Taxes | 450/3 | €2,837 | €1,363 | -€1,475 | -52.0% |
| Remuneration and social security | 454/9 | - | €170 | +€170 | |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,486 | €1,678 | +€192 | +12.9% |
| Other operating charges | 640/8 | €626 | €585 | -€40 | -6.5% |
| Non-recurring operating charges | 66A | €10,532 | - | -€10,532 | |
| Gross operating margin | 9900 | €26,139 | €214 | -€25,925 | -99.2% |
| Operating profit (loss) | 9901 | €13,495 | -€2,050 | -€15,545 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €187 | €249 | +€61 | +32.6% |
| Recurring financial charges | 65 | €187 | €249 | +€61 | +32.6% |
| Profit (loss) for the period before taxes | 9903 | €13,308 | -€2,298 | -€15,606 | |
| Profit (loss) for the period | 9904 | €13,308 | -€2,298 | -€15,606 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,308 | -€2,298 | -€15,606 |
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 10 October 2026 via checked.be.