Kernel IP forwarding not enabled for ethernet interface on boot
It turns out it is a bug in ifupdown2 utility, which I was unaware was even installed. Until bug resolution gets into Buster, the workaround is to set ip-forward parameter in /etc/network/interfaces:
iface enp0s25 inet static
address x.x.x.x
netmask 255.255.255.0
gateway x.x.x.x
ip-forward 1