THE BUN: 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.
THE BUN
Largest movements
- Tangible fixed assets -€16,875
down €16,875 (-7.3%), from €230,352 to €213,476
of which Land and buildings: -€14,875
- Profit (loss) carried forward -€22,313
down €22,313 (-39.7%), from -€56,200 to -€78,513
- Other debts +€10,939
up €10,939 (+23.8%), from €45,902 to €56,841
- Debts after one year -€7,869
down €7,869 (-4.3%), from €184,636 to €176,767
- Trade debts +€3,386
up €3,386 (+75.9%), from €4,463 to €7,849
- Gross operating margin -€40,289
down €40,289 (-92.1%), from €43,735 to €3,445
- Financial charges -€8,656
down €8,656 (-49.4%), from €17,538 to €8,883
- Staff costs -€1,713
no longer reported in 2025 (was €1,713)
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 | €230,737 | €213,861 | -€16,877 | -7.3% |
| Fixed assets | 21/28 | €230,352 | €213,476 | -€16,875 | -7.3% |
| Tangible fixed assets | 22/27 | €230,352 | €213,476 | -€16,875 | -7.3% |
| Land and buildings | 22 | €224,818 | €209,943 | -€14,875 | -6.6% |
| Plant, machinery and equipment | 23 | €5,434 | €3,534 | -€1,900 | -35.0% |
| Furniture and vehicles | 24 | €100 | - | -€100 | |
| Current assets | 29/58 | €386 | €384 | -€1 | -0.4% |
| Amounts receivable within one year | 40/41 | €384 | €384 | = | 0.0% |
| Other amounts receivable | 41 | €384 | €384 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2 | €1 | -€1 | -70.0% |
| Total equity and liabilities | 10/49 | €230,737 | €213,861 | -€16,877 | -7.3% |
| Equity | 10/15 | -€20,140 | -€42,453 | -€22,313 | -111% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €28,000 | €28,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,200 | -€78,513 | -€22,313 | -39.7% |
| Amounts payable | 17/49 | €250,878 | €256,314 | +€5,436 | +2.2% |
| Amounts payable after more than one year | 17 | €184,636 | €176,767 | -€7,869 | -4.3% |
| Financial debts | 170/4 | €184,636 | €176,767 | -€7,869 | -4.3% |
| Amounts payable within one year | 42/48 | €66,242 | €79,547 | +€13,305 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | €7,200 | €7,680 | +€480 | +6.7% |
| Trade debts | 44 | €4,463 | €7,849 | +€3,386 | +75.9% |
| Suppliers | 440/4 | €4,463 | €7,849 | +€3,386 | +75.9% |
| Taxes, remuneration and social security | 45 | €8,677 | €7,177 | -€1,500 | -17.3% |
| Taxes | 450/3 | €8,677 | €7,177 | -€1,500 | -17.3% |
| Other amounts payable | 47/48 | €45,902 | €56,841 | +€10,939 | +23.8% |
| Remuneration, social security and pensions | 62 | €1,713 | - | -€1,713 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,984 | €16,875 | -€108 | -0.6% |
| Other operating charges | 640/8 | €131 | - | -€131 | |
| Gross operating margin | 9900 | €43,735 | €3,445 | -€40,289 | -92.1% |
| Operating profit (loss) | 9901 | €24,907 | -€13,430 | -€38,337 | |
| Financial charges | 65/66B | €17,538 | €8,883 | -€8,656 | -49.4% |
| Recurring financial charges | 65 | €17,538 | €8,883 | -€8,656 | -49.4% |
| Profit (loss) for the period before taxes | 9903 | €7,369 | -€22,313 | -€29,682 | |
| Profit (loss) for the period | 9904 | €7,369 | -€22,313 | -€29,682 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,369 | -€22,313 | -€29,682 |
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 23 October 2026 via checked.be.