THIBAUT BUSSCHAERT BVBA: 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.
THIBAUT BUSSCHAERT BVBA
Largest movements
- Receivables within one year +€19,213
up €19,213 (+487%), from €3,942 to €23,155
of which Trade receivables: +€15,519
- Tangible fixed assets -€12,780
down €12,780 (-2.5%), from €513,044 to €500,264
- Cash -€7,334
down €7,334 (-82.0%), from €8,940 to €1,606
mainly Debts after one year (-€25,321) and Receivables within one year (-€19,213)
- Receivables after one year +€7,000
up €7,000 (+117%), from €6,000 to €13,000
- Financial fixed assets +€5,880
up €5,880 (+24.8%), from €23,708 to €29,588
- Reserves +€29,758
up €29,758 (+19.5%), from €152,523 to €182,281
of which Distributable reserves: +€33,319
- Debts after one year -€25,321
down €25,321 (-8.4%), from €301,810 to €276,489
- Gross operating margin +€9,571
up €9,571 (+14.5%), from €65,951 to €75,522
- Other operating charges -€8,904
down €8,904 (-68.5%), from €12,992 to €4,088
- Taxes +€6,611
up €6,611 (+64.4%), from €10,269 to €16,880
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 | €558,846 | €569,672 | +€10,826 | +1.9% |
| Fixed assets | 21/28 | €536,752 | €529,852 | -€6,900 | -1.3% |
| Tangible fixed assets | 22/27 | €513,044 | €500,264 | -€12,780 | -2.5% |
| Land and buildings | 22 | €513,044 | €500,264 | -€12,780 | -2.5% |
| Financial fixed assets | 28 | €23,708 | €29,588 | +€5,880 | +24.8% |
| Current assets | 29/58 | €22,094 | €39,820 | +€17,726 | +80.2% |
| Amounts receivable after more than one year | 29 | €6,000 | €13,000 | +€7,000 | +117% |
| Other amounts receivable | 291 | €6,000 | €13,000 | +€7,000 | +117% |
| Amounts receivable within one year | 40/41 | €3,942 | €23,155 | +€19,213 | +487% |
| Trade receivables | 40 | - | €15,519 | +€15,519 | |
| Other amounts receivable | 41 | €3,942 | €7,636 | +€3,694 | +93.7% |
| Cash at bank and in hand | 54/58 | €8,940 | €1,606 | -€7,334 | -82.0% |
| Deferred charges and accrued income | 490/1 | €3,212 | €2,059 | -€1,153 | -35.9% |
| Total equity and liabilities | 10/49 | €558,846 | €569,672 | +€10,826 | +1.9% |
| Equity | 10/15 | €180,088 | €209,846 | +€29,758 | +16.5% |
| Contributions | 10/11 | €8,500 | €8,500 | = | 0.0% |
| Reserves | 13 | €152,523 | €182,281 | +€29,758 | +19.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €113,956 | €110,395 | -€3,561 | -3.1% |
| Distributable reserves | 133 | €36,707 | €70,026 | +€33,319 | +90.8% |
| Profit (loss) carried forward | 14 | €19,065 | €19,065 | = | 0.0% |
| Provisions and deferred taxes | 16 | €28,489 | €27,599 | -€890 | -3.1% |
| Deferred taxes | 168 | €28,489 | €27,599 | -€890 | -3.1% |
| Amounts payable | 17/49 | €350,269 | €332,227 | -€18,042 | -5.2% |
| Amounts payable after more than one year | 17 | €301,810 | €276,489 | -€25,321 | -8.4% |
| Financial debts | 170/4 | €301,810 | €276,489 | -€25,321 | -8.4% |
| Amounts payable within one year | 42/48 | €47,294 | €54,373 | +€7,079 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €25,009 | €25,376 | +€367 | +1.5% |
| Trade debts | 44 | €2,042 | €4,697 | +€2,655 | +130% |
| Suppliers | 440/4 | €2,042 | €4,697 | +€2,655 | +130% |
| Taxes, remuneration and social security | 45 | €19,742 | €24,300 | +€4,558 | +23.1% |
| Taxes | 450/3 | €19,742 | €24,300 | +€4,558 | +23.1% |
| Other amounts payable | 47/48 | €501 | - | -€501 | |
| Accrued charges and deferred income | 492/3 | €1,165 | €1,365 | +€200 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,307 | €15,504 | +€197 | +1.3% |
| Other operating charges | 640/8 | €12,992 | €4,088 | -€8,904 | -68.5% |
| Gross operating margin | 9900 | €65,951 | €75,522 | +€9,571 | +14.5% |
| Operating profit (loss) | 9901 | €37,652 | €55,930 | +€18,278 | +48.5% |
| Financial income | 75/76B | €36 | €674 | +€638 | +1,772% |
| Recurring financial income | 75 | €36 | €674 | +€638 | +1,772% |
| Financial charges | 65/66B | €10,232 | €10,856 | +€624 | +6.1% |
| Recurring financial charges | 65 | €10,232 | €10,856 | +€624 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €27,456 | €45,748 | +€18,292 | +66.6% |
| Transfer from deferred taxes | 780 | €890 | €890 | = | 0.0% |
| Income taxes | 67/77 | €10,269 | €16,880 | +€6,611 | +64.4% |
| Profit (loss) for the period | 9904 | €18,077 | €29,758 | +€11,681 | +64.6% |
| Transfer from tax-exempt reserves | 789 | €3,560 | €3,562 | +€2 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,637 | €33,320 | +€11,683 | +54.0% |
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 24 October 2026 via checked.be.