I - BUS: 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.
I - BUS
Largest movements
- Current investments -€229,603
down €229,603 (-100%), from €229,603 to €0
- Cash +€167,174
up €167,174 (+24.7%), from €676,610 to €843,784
mainly Debts after one year (+€1.0m) and Current investments (+€229,603)
- Receivables within one year +€37,713
up €37,713 (+5.5%), from €680,562 to €718,274
of which Other amounts receivable: +€58,164
- Investment grants -€1.0m
no longer reported in 2025 (was €1.0m)
- Debts after one year +€1.0m
new in 2025: €1.0m
- Trade debts -€69,610
down €69,610 (-11.2%), from €622,478 to €552,868
- Profit (loss) carried forward +€44,409
no longer reported in 2025 (was -€44,409)
- Financial income +€882,053
up €882,053 (+691%), from €127,724 to €1.0m
- Gross operating margin -€838,115
down €838,115 (-662%), from -€126,526 to -€964,641
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 | €1,587,528 | €1,562,327 | -€25,201 | -1.6% |
| Fixed assets | 21/28 | €709 | €213 | -€496 | -70.0% |
| Tangible fixed assets | 22/27 | €709 | €213 | -€496 | -70.0% |
| Plant, machinery and equipment | 23 | €708 | €212 | -€496 | -70.1% |
| Leasing and similar rights | 25 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €1,586,819 | €1,562,114 | -€24,705 | -1.6% |
| Amounts receivable within one year | 40/41 | €680,562 | €718,274 | +€37,713 | +5.5% |
| Trade receivables | 40 | €407,207 | €386,756 | -€20,451 | -5.0% |
| Other amounts receivable | 41 | €273,354 | €331,518 | +€58,164 | +21.3% |
| Current investments | 50/53 | €229,603 | €0 | -€229,603 | -100% |
| Cash at bank and in hand | 54/58 | €676,610 | €843,784 | +€167,174 | +24.7% |
| Deferred charges and accrued income | 490/1 | €44 | €55 | +€11 | +25.0% |
| Total equity and liabilities | 10/49 | €1,587,528 | €1,562,327 | -€25,201 | -1.6% |
| Equity | 10/15 | €965,050 | - | -€965,050 | |
| Profit (loss) carried forward | 14 | -€44,409 | - | +€44,409 | |
| Investment grants | 15 | €1,009,458 | - | -€1.0m | |
| Amounts payable | 17/49 | €622,478 | €1,562,327 | +€939,848 | +151% |
| Amounts payable after more than one year | 17 | - | €1,009,458 | +€1.0m | |
| Other amounts payable | 178/9 | - | €1,009,458 | +€1.0m | |
| Amounts payable within one year | 42/48 | €622,478 | €552,868 | -€69,610 | -11.2% |
| Trade debts | 44 | €622,478 | €552,868 | -€69,610 | -11.2% |
| Suppliers | 440/4 | €622,478 | €552,868 | -€69,610 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €496 | €496 | -€0 | 0.0% |
| Gross operating margin | 9900 | -€126,526 | -€964,641 | -€838,115 | -662% |
| Operating profit (loss) | 9901 | -€127,022 | -€965,137 | -€838,115 | -660% |
| Financial income | 75/76B | €127,724 | €1,009,777 | +€882,053 | +691% |
| Recurring financial income | 75 | €127,724 | €1,009,777 | +€882,053 | +691% |
| Financial charges | 65/66B | €255 | €136 | -€119 | -46.8% |
| Recurring financial charges | 65 | €255 | €136 | -€119 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €447 | €44,504 | +€44,057 | +9,862% |
| Income taxes | 67/77 | €447 | €95 | -€351 | -78.7% |
| Profit (loss) for the period | 9904 | €0 | €44,409 | +€44,409 | |
| Profit (loss) for the period to be appropriated | 9905 | €0 | €44,409 | +€44,409 |
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 14 October 2026 via checked.be.