Elise Buntinx: 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.
Elise Buntinx
Largest movements
- Receivables within one year +€240,503
up €240,503 (+725%), from €33,171 to €273,674
of which Other amounts receivable: +€227,164
- Receivables after one year -€215,981
down €215,981 (-100%), from €215,981 to €0
- Cash +€98,308
up €98,308 (+336%), from €29,263 to €127,571
mainly Receivables after one year (+€215,981) and Trade debts (+€83,391)
- Tangible fixed assets -€33,926
down €33,926 (-13.2%), from €256,234 to €222,308
of which Land and buildings: -€30,740
- Trade debts +€83,391
up €83,391 (+1,262%), from €6,606 to €89,998
- Other debts -€51,015
down €51,015 (-70.8%), from €72,083 to €21,068
- Reserves +€46,113
up €46,113 (+14.1%), from €325,915 to €372,028
of which Distributable reserves: +€46,113
- Short-term financial debts +€17,294
new in 2025: €17,294
- Tax, wage and social debts -€7,438
down €7,438 (-24.9%), from €29,855 to €22,417
- Gross operating margin +€17,733
up €17,733 (+15.7%), from €112,770 to €130,503
- Other operating charges +€14,157
up €14,157 (+376%), from €3,762 to €17,919
- Financial income -€4,954
down €4,954 (-56.0%), from €8,851 to €3,896
- Depreciation -€1,763
down €1,763 (-3.3%), from €53,289 to €51,527
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 | €536,459 | €624,803 | +€88,344 | +16.5% |
| Fixed assets | 21/28 | €256,234 | €222,308 | -€33,926 | -13.2% |
| Tangible fixed assets | 22/27 | €256,234 | €222,308 | -€33,926 | -13.2% |
| Land and buildings | 22 | €203,125 | €172,385 | -€30,740 | -15.1% |
| Plant, machinery and equipment | 23 | €45,466 | €32,310 | -€13,156 | -28.9% |
| Furniture and vehicles | 24 | €7,643 | €17,612 | +€9,970 | +130% |
| Current assets | 29/58 | €280,225 | €402,495 | +€122,270 | +43.6% |
| Amounts receivable after more than one year | 29 | €215,981 | €0 | -€215,981 | -100% |
| Other amounts receivable | 291 | €215,981 | €0 | -€215,981 | -100% |
| Amounts receivable within one year | 40/41 | €33,171 | €273,674 | +€240,503 | +725% |
| Trade receivables | 40 | €26,555 | €39,895 | +€13,340 | +50.2% |
| Other amounts receivable | 41 | €6,616 | €233,779 | +€227,164 | +3,434% |
| Cash at bank and in hand | 54/58 | €29,263 | €127,571 | +€98,308 | +336% |
| Deferred charges and accrued income | 490/1 | €1,810 | €1,250 | -€560 | -30.9% |
| Total equity and liabilities | 10/49 | €536,459 | €624,803 | +€88,344 | +16.5% |
| Equity | 10/15 | €427,915 | €474,028 | +€46,113 | +10.8% |
| Contributions | 10/11 | €102,000 | €102,000 | = | 0.0% |
| Reserves | 13 | €325,915 | €372,028 | +€46,113 | +14.1% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Other | 1319 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €315,915 | €362,028 | +€46,113 | +14.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €108,544 | €150,776 | +€42,232 | +38.9% |
| Amounts payable within one year | 42/48 | €108,544 | €150,776 | +€42,232 | +38.9% |
| Financial debts | 43 | - | €17,294 | +€17,294 | |
| Credit institutions | 430/8 | - | €17,294 | +€17,294 | |
| Trade debts | 44 | €6,606 | €89,998 | +€83,391 | +1,262% |
| Suppliers | 440/4 | €6,606 | €89,998 | +€83,391 | +1,262% |
| Taxes, remuneration and social security | 45 | €29,855 | €22,417 | -€7,438 | -24.9% |
| Taxes | 450/3 | €29,855 | €22,417 | -€7,438 | -24.9% |
| Other amounts payable | 47/48 | €72,083 | €21,068 | -€51,015 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,289 | €51,527 | -€1,763 | -3.3% |
| Other operating charges | 640/8 | €3,762 | €17,919 | +€14,157 | +376% |
| Gross operating margin | 9900 | €112,770 | €130,503 | +€17,733 | +15.7% |
| Operating profit (loss) | 9901 | €55,719 | €61,057 | +€5,338 | +9.6% |
| Financial income | 75/76B | €8,851 | €3,896 | -€4,954 | -56.0% |
| Recurring financial income | 75 | €8,851 | €3,896 | -€4,954 | -56.0% |
| Financial charges | 65/66B | €1,810 | €735 | -€1,075 | -59.4% |
| Recurring financial charges | 65 | €1,810 | €735 | -€1,075 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | €62,760 | €64,218 | +€1,459 | +2.3% |
| Income taxes | 67/77 | €18,268 | €18,106 | -€163 | -0.9% |
| Profit (loss) for the period | 9904 | €44,491 | €46,113 | +€1,621 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,491 | €46,113 | +€1,621 | +3.6% |
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 13 October 2026 via checked.be.