BUNDER: 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.
BUNDER
Largest movements
- Receivables within one year +€26,641
up €26,641 (+28.8%), from €92,462 to €119,103
- Cash -€15,474
down €15,474 (-7.4%), from €208,319 to €192,845
mainly Receivables within one year (-€26,641) and Net result for the year (-€9,020)
- Tangible fixed assets -€12,290
down €12,290 (-6.3%), from €195,060 to €182,770
of which Other tangible fixed assets: -€7,137
- Profit (loss) carried forward -€9,020
down €9,020 (-36.6%), from -€24,624 to -€33,644
- Gross operating margin +€18,522
up €18,522, from -€1,809 to €16,714
- Other operating charges +€9,543
up €9,543 (+121%), from €7,889 to €17,432
- Depreciation -€6,922
down €6,922 (-33.2%), from €20,845 to €13,923
- Financial income -€190
down €190 (-3.0%), from €6,410 to €6,220
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €502,350 | €496,931 | -€5,420 | -1.1% |
| Fixed assets | 21/28 | €195,060 | €182,770 | -€12,290 | -6.3% |
| Tangible fixed assets | 22/27 | €195,060 | €182,770 | -€12,290 | -6.3% |
| Land and buildings | 22 | €155,456 | €152,025 | -€3,431 | -2.2% |
| Plant, machinery and equipment | 23 | €1,449 | €611 | -€838 | -57.9% |
| Furniture and vehicles | 24 | €884 | €0 | -€884 | -100% |
| Other tangible fixed assets | 26 | €37,271 | €30,134 | -€7,137 | -19.1% |
| Current assets | 29/58 | €307,290 | €314,161 | +€6,871 | +2.2% |
| Amounts receivable within one year | 40/41 | €92,462 | €119,103 | +€26,641 | +28.8% |
| Other amounts receivable | 41 | €92,462 | €119,103 | +€26,641 | +28.8% |
| Cash at bank and in hand | 54/58 | €208,319 | €192,845 | -€15,474 | -7.4% |
| Deferred charges and accrued income | 490/1 | €6,510 | €2,213 | -€4,297 | -66.0% |
| Total equity and liabilities | 10/49 | €502,350 | €496,931 | -€5,420 | -1.1% |
| Equity | 10/15 | €501,752 | €492,733 | -€9,020 | -1.8% |
| Contributions | 10/11 | €379,674 | €379,674 | = | 0.0% |
| Capital | 10 | €379,674 | €379,674 | = | 0.0% |
| Issued capital | 100 | €379,674 | €379,674 | = | 0.0% |
| Reserves | 13 | €146,702 | €146,702 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,967 | €37,967 | = | 0.0% |
| Legal reserve | 130 | €37,967 | €37,967 | = | 0.0% |
| Distributable reserves | 133 | €108,735 | €108,735 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,624 | -€33,644 | -€9,020 | -36.6% |
| Amounts payable | 17/49 | €598 | €4,198 | +€3,600 | +602% |
| Amounts payable within one year | 42/48 | €322 | €4,135 | +€3,814 | +1,185% |
| Trade debts | 44 | €322 | €3,835 | +€3,513 | +1,092% |
| Suppliers | 440/4 | €322 | €3,835 | +€3,513 | +1,092% |
| Taxes, remuneration and social security | 45 | €0 | €301 | +€301 | |
| Taxes | 450/3 | €0 | €301 | +€301 | |
| Accrued charges and deferred income | 492/3 | €276 | €63 | -€214 | -77.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,845 | €13,923 | -€6,922 | -33.2% |
| Other operating charges | 640/8 | €7,889 | €17,432 | +€9,543 | +121% |
| Gross operating margin | 9900 | -€1,809 | €16,714 | +€18,522 | |
| Operating profit (loss) | 9901 | -€30,543 | -€14,641 | +€15,902 | +52.1% |
| Financial income | 75/76B | €6,410 | €6,220 | -€190 | -3.0% |
| Recurring financial income | 75 | €6,410 | €6,220 | -€190 | -3.0% |
| Financial charges | 65/66B | €1 | €68 | +€68 | +9,015% |
| Recurring financial charges | 65 | €1 | €68 | +€68 | +9,015% |
| Profit (loss) for the period before taxes | 9903 | -€24,134 | -€8,490 | +€15,644 | +64.8% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €490 | €530 | +€40 | +8.2% |
| Profit (loss) for the period | 9904 | -€24,624 | -€9,020 | +€15,604 | +63.4% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,624 | -€9,020 | +€15,604 | +63.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.