VINCENT BUTERA: 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.
VINCENT BUTERA
Largest movements
- Cash -€168,155
down €168,155 (-75.5%), from €222,854 to €54,699
mainly Other debts (-€127,728) and Contributions, distributions and other (-€111,765)
- Tangible fixed assets -€14,870
down €14,870 (-35.3%), from €42,134 to €27,265
of which Furniture and vehicles: -€14,373
- Other debts -€127,728
down €127,728 (-98.2%), from €130,004 to €2,276
- Profit (loss) carried forward -€57,608
down €57,608 (-45.2%), from €127,341 to €69,733
- Tax, wage and social debts +€3,526
up €3,526 (+60.3%), from €5,850 to €9,376
- Gross operating margin -€38,415
down €38,415 (-31.4%), from €122,295 to €83,881
- Taxes -€12,900
down €12,900 (-47.9%), from €26,956 to €14,056
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 | €283,742 | €102,133 | -€181,609 | -64.0% |
| Fixed assets | 21/28 | €42,134 | €27,265 | -€14,870 | -35.3% |
| Tangible fixed assets | 22/27 | €42,134 | €27,265 | -€14,870 | -35.3% |
| Furniture and vehicles | 24 | €38,773 | €24,400 | -€14,373 | -37.1% |
| Other tangible fixed assets | 26 | €3,361 | €2,864 | -€497 | -14.8% |
| Current assets | 29/58 | €241,608 | €74,868 | -€166,740 | -69.0% |
| Amounts receivable within one year | 40/41 | €17,578 | €18,462 | +€884 | +5.0% |
| Trade receivables | 40 | €16,919 | €12,562 | -€4,357 | -25.8% |
| Other amounts receivable | 41 | €659 | €5,900 | +€5,241 | +796% |
| Cash at bank and in hand | 54/58 | €222,854 | €54,699 | -€168,155 | -75.5% |
| Deferred charges and accrued income | 490/1 | €1,176 | €1,707 | +€531 | +45.2% |
| Total equity and liabilities | 10/49 | €283,742 | €102,133 | -€181,609 | -64.0% |
| Equity | 10/15 | €147,801 | €90,193 | -€57,608 | -39.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,341 | €69,733 | -€57,608 | -45.2% |
| Amounts payable | 17/49 | €135,942 | €11,940 | -€124,002 | -91.2% |
| Amounts payable within one year | 42/48 | €135,942 | €11,940 | -€124,002 | -91.2% |
| Trade debts | 44 | €88 | €289 | +€201 | +230% |
| Suppliers | 440/4 | €88 | €289 | +€201 | +230% |
| Taxes, remuneration and social security | 45 | €5,850 | €9,376 | +€3,526 | +60.3% |
| Taxes | 450/3 | €5,850 | €9,376 | +€3,526 | +60.3% |
| Other amounts payable | 47/48 | €130,004 | €2,276 | -€127,728 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,454 | €14,870 | +€415 | +2.9% |
| Other operating charges | 640/8 | €546 | €566 | +€20 | +3.6% |
| Gross operating margin | 9900 | €122,295 | €83,881 | -€38,415 | -31.4% |
| Operating profit (loss) | 9901 | €107,295 | €68,445 | -€38,850 | -36.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €245 | €232 | -€13 | -5.2% |
| Recurring financial charges | 65 | €245 | €232 | -€13 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €107,050 | €68,213 | -€38,837 | -36.3% |
| Income taxes | 67/77 | €26,956 | €14,056 | -€12,900 | -47.9% |
| Profit (loss) for the period | 9904 | €80,094 | €54,157 | -€25,937 | -32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €80,094 | €54,157 | -€25,937 | -32.4% |
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 28 October 2026 via checked.be.