Instal 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.
Instal Bud
Largest movements
- Receivables within one year +€19,316
up €19,316 (+10.4%), from €185,023 to €204,339
of which Other amounts receivable: +€36,590
- Tangible fixed assets -€18,395
down €18,395 (-40.9%), from €44,944 to €26,549
- Cash -€6,244
down €6,244 (-48.2%), from €12,945 to €6,701
mainly Current portion of long-term debt (-€55,060) and Receivables within one year (-€19,316)
- Current portion of long-term debt -€55,060
down €55,060 (-93.0%), from €59,209 to €4,149
- Trade debts +€25,090
up €25,090 (+65.1%), from €38,531 to €63,621
- Profit (loss) carried forward +€12,477
up €12,477 (+9.6%), from €129,751 to €142,228
- Accrued charges and deferred income +€11,067
up €11,067 (+985%), from €1,123 to €12,190
- Debts after one year -€4,149
no longer reported in 2025 (was €4,149)
- Gross operating margin +€62,527
up €62,527, from -€20,384 to €42,144
- Taxes +€3,347
new in 2025: €3,347
- Financial charges +€1,218
up €1,218 (+26.9%), from €4,528 to €5,747
- Depreciation -€423
down €423 (-2.2%), from €18,818 to €18,395
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 | €245,681 | €239,419 | -€6,262 | -2.5% |
| Fixed assets | 21/28 | €44,944 | €26,549 | -€18,395 | -40.9% |
| Tangible fixed assets | 22/27 | €44,944 | €26,549 | -€18,395 | -40.9% |
| Plant, machinery and equipment | 23 | €7,274 | €4,177 | -€3,097 | -42.6% |
| Furniture and vehicles | 24 | €13,839 | €7,082 | -€6,757 | -48.8% |
| Leasing and similar rights | 25 | €23,832 | €15,290 | -€8,542 | -35.8% |
| Current assets | 29/58 | €200,737 | €212,870 | +€12,133 | +6.0% |
| Amounts receivable within one year | 40/41 | €185,023 | €204,339 | +€19,316 | +10.4% |
| Trade receivables | 40 | €37,300 | €20,025 | -€17,275 | -46.3% |
| Other amounts receivable | 41 | €147,724 | €184,314 | +€36,590 | +24.8% |
| Cash at bank and in hand | 54/58 | €12,945 | €6,701 | -€6,244 | -48.2% |
| Deferred charges and accrued income | 490/1 | €2,768 | €1,830 | -€938 | -33.9% |
| Total equity and liabilities | 10/49 | €245,681 | €239,419 | -€6,262 | -2.5% |
| Equity | 10/15 | €139,751 | €152,228 | +€12,477 | +8.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,751 | €142,228 | +€12,477 | +9.6% |
| Amounts payable | 17/49 | €105,930 | €87,190 | -€18,739 | -17.7% |
| Amounts payable after more than one year | 17 | €4,149 | - | -€4,149 | |
| Financial debts | 170/4 | €4,149 | - | -€4,149 | |
| Amounts payable within one year | 42/48 | €100,658 | €75,001 | -€25,657 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €59,209 | €4,149 | -€55,060 | -93.0% |
| Financial debts | 43 | €2,919 | €3,884 | +€966 | +33.1% |
| Credit institutions | 430/8 | €2,919 | €3,884 | +€966 | +33.1% |
| Trade debts | 44 | €38,531 | €63,621 | +€25,090 | +65.1% |
| Suppliers | 440/4 | €38,531 | €63,621 | +€25,090 | +65.1% |
| Taxes, remuneration and social security | 45 | - | €3,347 | +€3,347 | |
| Taxes | 450/3 | - | €3,347 | +€3,347 | |
| Accrued charges and deferred income | 492/3 | €1,123 | €12,190 | +€11,067 | +985% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,818 | €18,395 | -€423 | -2.2% |
| Other operating charges | 640/8 | €2,547 | €2,183 | -€364 | -14.3% |
| Gross operating margin | 9900 | -€20,384 | €42,144 | +€62,527 | |
| Operating profit (loss) | 9901 | -€41,749 | €21,565 | +€63,314 | |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €4,528 | €5,747 | +€1,218 | +26.9% |
| Recurring financial charges | 65 | €4,528 | €5,747 | +€1,218 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | -€46,277 | €15,824 | +€62,101 | |
| Income taxes | 67/77 | - | €3,347 | +€3,347 | |
| Profit (loss) for the period | 9904 | -€46,277 | €12,477 | +€58,754 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,277 | €12,477 | +€58,754 |
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 31 October 2026 via checked.be.