Results of a spectroscopic investigation of the southern Be star HD 152478 are presented. Five spectra of the object were obtained in 2007 - 2009 with the high-resolution (R = 48,000) FEROS spectrograph installed at the 2.2-m telescope of the European Southern Observatory (ESO) in Chile. Notable variations of line profiles have been found for a number of elements (H I, He I, Fe II, etc.). The analysis of the variability has shown that the widely accepted hypothesis of ``one-armed perturbation'' drifting in the equatorial gaseous disk is not confirmed by the observations. We suggest an alternative interpretation of the observed variability in the assumption of a variable magnetized stellar wind of flattened geometry, flowing close to the equatorial disk.