VAN DEN BUSSCHE Marc: 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.
VAN DEN BUSSCHE Marc
Largest movements
- Tangible fixed assets -€46,593
down €46,593 (-5.7%), from €818,880 to €772,287
of which Land and buildings: -€39,791
- Cash +€20,112
up €20,112 (+31.1%), from €64,709 to €84,821
mainly Depreciation (+€47,725) and Trade debts (+€5,010)
- Current investments +€18,581
up €18,581 (+26.2%), from €70,885 to €89,466
No liability line moved by more than 1% of the balance sheet total.
- Financial charges -€43,208
down €43,208, from €38,487 to -€4,721
- Gross operating margin -€9,889
down €9,889 (-20.3%), from €48,736 to €38,847
- Taxes +€1,761
up €1,761 (+1,262%), from €140 to €1,901
- Depreciation -€1,011
down €1,011 (-2.1%), from €48,736 to €47,725
- Other operating charges +€615
up €615 (+12.0%), from €5,113 to €5,728
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 | €1,071,131 | €1,068,473 | -€2,658 | -0.2% |
| Fixed assets | 21/28 | €819,106 | €772,506 | -€46,599 | -5.7% |
| Tangible fixed assets | 22/27 | €818,880 | €772,287 | -€46,593 | -5.7% |
| Land and buildings | 22 | €804,985 | €765,194 | -€39,791 | -4.9% |
| Plant, machinery and equipment | 23 | €1,846 | €1,288 | -€558 | -30.2% |
| Furniture and vehicles | 24 | €12,049 | €5,805 | -€6,244 | -51.8% |
| Financial fixed assets | 28 | €226 | €220 | -€6 | -2.7% |
| Current assets | 29/58 | €252,025 | €295,967 | +€43,942 | +17.4% |
| Amounts receivable after more than one year | 29 | €87,943 | €87,943 | = | 0.0% |
| Other amounts receivable | 291 | €87,943 | €87,943 | = | 0.0% |
| Stocks and contracts in progress | 3 | €14,493 | €11,865 | -€2,628 | -18.1% |
| Stocks | 30/36 | €14,493 | €11,865 | -€2,628 | -18.1% |
| Amounts receivable within one year | 40/41 | €13,691 | €17,182 | +€3,490 | +25.5% |
| Trade receivables | 40 | €4,404 | €2,589 | -€1,816 | -41.2% |
| Other amounts receivable | 41 | €9,287 | €14,593 | +€5,306 | +57.1% |
| Current investments | 50/53 | €70,885 | €89,466 | +€18,581 | +26.2% |
| Cash at bank and in hand | 54/58 | €64,709 | €84,821 | +€20,112 | +31.1% |
| Deferred charges and accrued income | 490/1 | €303 | €4,690 | +€4,387 | +1,449% |
| Total equity and liabilities | 10/49 | €1,071,131 | €1,068,473 | -€2,658 | -0.2% |
| Equity | 10/15 | €416,089 | €413,198 | -€2,891 | -0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €397,489 | €394,598 | -€2,891 | -0.7% |
| Tax-exempt reserves | 132 | €271,294 | €251,128 | -€20,166 | -7.4% |
| Distributable reserves | 133 | €126,195 | €143,470 | +€17,274 | +13.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €90,431 | €83,709 | -€6,722 | -7.4% |
| Deferred taxes | 168 | €90,431 | €83,709 | -€6,722 | -7.4% |
| Amounts payable | 17/49 | €564,610 | €571,566 | +€6,956 | +1.2% |
| Amounts payable after more than one year | 17 | €561,900 | €561,900 | = | 0.0% |
| Financial debts | 170/4 | €561,900 | €561,900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,546 | €8,416 | +€6,870 | +444% |
| Trade debts | 44 | €1,200 | €6,211 | +€5,010 | +417% |
| Suppliers | 440/4 | €1,200 | €6,211 | +€5,010 | +417% |
| Taxes, remuneration and social security | 45 | €346 | €2,205 | +€1,860 | +538% |
| Taxes | 450/3 | €346 | €2,205 | +€1,860 | +538% |
| Accrued charges and deferred income | 492/3 | €1,164 | €1,250 | +€86 | +7.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,736 | €47,725 | -€1,011 | -2.1% |
| Other operating charges | 640/8 | €5,113 | €5,728 | +€615 | +12.0% |
| Gross operating margin | 9900 | €48,736 | €38,847 | -€9,889 | -20.3% |
| Operating profit (loss) | 9901 | -€5,112 | -€14,606 | -€9,493 | -186% |
| Financial income | 75/76B | €2,420 | €2,172 | -€248 | -10.2% |
| Recurring financial income | 75 | €2,420 | €2,172 | -€248 | -10.2% |
| Financial charges | 65/66B | €38,487 | -€4,721 | -€43,208 | |
| Recurring financial charges | 65 | €38,487 | -€4,721 | -€43,208 | |
| Profit (loss) for the period before taxes | 9903 | -€41,180 | -€7,713 | +€33,467 | +81.3% |
| Transfer from deferred taxes | 780 | €6,722 | €6,722 | = | 0.0% |
| Income taxes | 67/77 | €140 | €1,901 | +€1,761 | +1,262% |
| Profit (loss) for the period | 9904 | -€34,597 | -€2,891 | +€31,706 | +91.6% |
| Transfer from tax-exempt reserves | 789 | €20,166 | €20,166 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,431 | €17,274 | +€31,706 |
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 29 October 2026 via checked.be.